FINAL EXAM
LAWS 3930
Page 1 of 5
_____________________________________________
serving as your signature PRINT FULL NAME: Last Name, First Name
1.
Sign on the above line.
2.
Serving as your signature, print your full name (Last Name, First Name) on the
appropriate line of the cover of your blue book.
3.
Only answers written in a blue book
are eligible to earn a grade above "bad faith F".
4.
Only answers written in blue ink or in black ink
in your blue book re eligible to earn a grade above "bad faith F".
5.
You may use this white copy of your final exam for note taking and for outlining
your answers. You may write as much or as little as you desire on this white copy
of your exam. NOTE: Your instructor will consult this white copy only if a
material ambiguity in your blue book answer exists.
6.
When you finish your final exam insert this white copy of the exam into your
blue book and turn in both you blue book and your white copy of your final exam.
7.
This Comprehensive Final Exam consists of an interaction,
chosen by the student, of questions with b-law vocabulary.
8.
Below there are nine sets of vocabulary words/phrases:
each list contains ten words/phrases.
9.
Below there are six questions.
10.
You must answer four of the six questions.
Each of those four questions you choose shall be worth 100 course points.
11.
You may choose to answer a fifth question as your Extra Credit
question, which will be worth 50 course points.
12.
If you answer a sixth question, then that six answer shall be worth zero course
points as well as will earns a question grade of a "bad faith F".
13.
All answers will be graded on the truncated letter grade scale described in your
course's class room Syllabus. To wit:
an "A" earns 100% of that question's course points, a "B" earns 80%,
a "C" earns 70%, a "good faith F" earns 50%, and
a "bad faith F" earns zero percent of that question's course points.
Business Law Fundamentals
Fall 2012
O'Hara © 2012
FINAL EXAM
LAWS 3930
Page 2 of 5
14.
You must answer four of the six questions for this final exam.
You may chose those four questions. You may answer your four questions in any
order in your blue book (except as noted below with respect to your Extra Credit
question). For example, you might chose to answer questions 1, 3, 5, and 6; and
then answer them in your blue book in the sequence 6, 1, 5, and 3.
15.
Your fifth question, your Extra Credit question (if you so choose),
must appear as the last question in your blue book. Additionally, you
must write the words EXTRA CREDIT on the first line of your fifth
answer. Failure to either correctly place or to correctly label a purported Extra
Credit question transforms that answer into your sixth choice.
16.
First you chose the question to answer.
Second you chose the single set of vocabulary words/phrases you will use to
demonstrate your mastery of the material in LAWS 3930 Business Law
Fundamentals. For example, you might choose Question #1 and words #71
through #80.
17.
All four (or five) of your final exam answers must start in the same
manner. Failure to follow these instructions #17 will automatically
reduce your earned exam question letter grade by one level
(e.g., an earned "C" automatically becomes an earned "good faith F").
FIRST LINE OF ANSWER:
[17a] must be the first line of a blue book page;
[17b] must a right hand page (e.g., first page) of the blue book;
[17c] must only contain the text string
QUESTION #?? WORDS #?? THROUGH #??.
18.
Never define a vocabulary word or phrase.
Instead, demonstrate your mastery of that vocabulary
by using that word correctly in context.
19.
You may use any word from any set of words in any question.
However, question letter grades of "good faith F", "C", and "B", each of which is
in turn is a condition precedent for a question letter grade of "A", depends upon
you use of your ten chosen vocabulary words. It is both feasible and probable
that most of the question letter grades of "A" will be earned solely by that
student's demonstrated mastery of that student's ten chosen vocabulary words.
Use of words from other sets and/or use of words not within any set only can
contribute to a question letter grade of "A", which necessarily means that student
already had to have earned a course letter grade of "B" using the words from the
chosen set of ten. In short, focus your efforts on your chosen words, and use
other words only when that directly assists you demonstrating mastery of your
ten chosen words.
20.
Quality scores a higher grade than quantity. Good luck.
Business Law Fundamentals
Fall 2012
O'Hara © 2012
FINAL EXAM
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LAWS 3930
Page 3 of 5
SETS OF VOCABULARY WORDS / PHRASES
61. adverse selection
comity
31. Absorption Doctrine
62. common law fraud
consideration
32. Assumption of the Risk
63. contract
express v. implied
33. insurance
64. disclaim
Mail Box Rule
34. liquidated debt
65. goods
mistake: mutual v.
35. M.E.S. = minimum
66. normal profit
unilateral
efficient size
67. Police Power
perfect tender
36. Rational Basis Test
68. preemption
risk of loss &/or
37. trust
69. reform v. sever v. void
insurable interest
38. unconscionable
70. Rule of Reason
separation of powers
39. waive
tort
40. will
voluntary &/or
71. agreement
alternatives
72. Commerce Clause
41. adhesion contract
73. consumer
42. burden of proof
74. damages:
capacity
43. core, penumbra, &
nominal & punitive
crime
emanations
75. incorporate by
cure
44. cover
reference
due process
45. duress: economic:
76. liquidated damages
free speech
privileged v. predatory
77. moral hazard
knowing
46. material (i.e., size)
78. quasi contract
47. proximate cause
person: natural v. legal
79. subject matter
48. sovereign immunity
precedence
80. willing and able
49. spillover: cost or
prices of related goods
benefit
reasonably foreseen
50. warranty
81. condition: precedent v.
subsequent
appeal
82. defamation (i.e., libel &
defect
51. assignment &/or
slander)
duress: physical v.
delegation
emotional
52. damages:
83. exculpatory clause
84. identified
good faith: four forms
compensatory &
modification
consequential
85. merchant
86. Mirror Image Rule
performance:
53. Force Majeure
complete v. substantial
54. material (i.e., terms)
87. Reasonable Person
88. signature
v. material breach
55. mitigate
privity
56. plain meaning v.
89. taking v. mere
regulation
requirement contract &
course of performance
90. technology
output contract
v. course of dealings v.
set transaction costs
trade usage
standing to sue
57. privacy
58. reasonably foreseeable
59. Statute of Frauds
60. void for vagueness
Business Law Fundamentals
Fall 2012
O'Hara © 2012
FINAL EXAM
LAWS 3930
Page 4 of 5
QUESTION #1: web design
You are the sole proprietor of a small business that provides turn-key web services
and operations. Your firm provides three web site e-commerce services to your clients:
web site design, web site content, and web site management. This morning multiple
clients contacted you with notices of complaint. Each of your clients complained that
multiple of their customers reporting fraudulent credit card use. All such reporting
customers reported their customer's credit cards had been maxed out at the same
gambling web sites. Discuss.
QUESTION #2: drugs
You are the CEO of a large corporation. Your firm wholesales pharmaceuticals to
your city's local hospitals as well as to the largest hospitals in your multi-state region.
This morning multiple clients began complaining of unexpected reactions to your drugs
administered in the hospital. Surgeons were reporting that anesthetics and pain killers
were ineffective. Floor nurses were reporting deadly allergic reactions to aspirin tablets.
Discuss.
QUESTION #3: Facebook
David is a senior at UNO. Long ago David joined Facebook, swiftly clicking "yes" to
Facebook's Terms of Service to set up an account.
Paula is a freshman at UNO. Paula has never joined and has never used Facebook
because her parents are morally opposed to excessive computer use.
David purchased a low light application for his smart phone's camera. Then David
turned off the camera's flash. At college keggers David took revealing photos of
attendees in dark rooms adjacent to the kegger's party room. David posted his best
photos to Facebook, tagging (i.e., adding names to faces) and captioning (i.e., adding
comments) the photos to entertain his 500 friends.
Dylan is a UNO alum, having graduated a couple of years ago. Dylan is not
Facebook friend of David and is a real world stranger to both David and Paula. Dylan
tweeted David's photo of Paula to all of Dylan's followers. Then, separately, Dylan
texted Paula asking her to hook up because of their shared interests, including a copy of
the David's photo.
Paula's parents want to sue to recover the medical costs for Paula's attempted
suicide. Obviously, any one can sue any one for any thing. The important part is to
survive a Motion to Dismiss. Who can Paula's parents sue and survive a Motion to
Dismiss? Discuss.
Business Law Fundamentals
Fall 2012
O'Hara © 2012
FINAL EXAM
LAWS 3930
Page 5 of 5
QUESTION #4: self regulation
Greg is feeling alone and overwhelmed. His divorce became final the same day as
his parent's car accident put them into a coma and him as sole next-of-kin in charge.
Greg is worried about his child's future and who will make decisions when he is gone.
While far from wealthy, Greg does have assets worth managing and a steady income.
What transactions ought Greg execute in the near future? Discuss.
QUESTION #5: government regulation
You are a CEO of a large employer in Nebraska. You have just hired from the coast a
new head of your Research & Development (R&D) division. It was an extensive job
search, including expensive head hunter services, to find a person with the rare skills set
your enterprise needs. The first day on the job your new employee turned in two signed
forms that prompted your head of human resources to call you for a decision.
Your new employee turned in an IRS W-4 form listing a spouse and a minor child as
dependents. Your new employee also turned in your health insurer's form listing the
same spouse and minor child as dependents.
Your head of HR found three laws that might be helpful. [A] The Nebraska
Constitution defines a marriage as between one man and one woman; and, prohibits
recognition of any other purported marriages. [B] The first part of the federal statute
solely applies to the federal government and it defines marriage as between one man
and one woman for all actions of the federal government. [C] The second part of the
federal statute applies to all other USA jurisdictions (e.g., USA States) and allows them
to choose how to react to a same sex marriage from another USA jurisdiction (e.g.,
Indian Tribe).
Your new employee's claimed spouse is the same sex as your new employee. They
were married in Canada. What does your HR department do with those two forms?
Discuss.
QUESTION #6: UCC
This question has a different design from the previous five questions. This question
does not require an essay. Instead, this question requires the student to pick ten
words/phrases that would be used in an essay. Above are listed 90 vocabulary
words/phrases. Below is a set of facts for this question. From those 90 words select the
ten (10) words/phrases that are most important for analysis of those facts below. Use a
single blue book page for your answer. On that single page use one line per word.
Sequence your ten words from most important (i.e., first in your list) to least important
(i.e., tenth in your list). The entirety of your answer is ten numbers paired with ten
words/phrases.
FACTS:
BigBox is a vertically integrated holding company owning multiple
corporations. Each of BigBox's subsidiaries is responsible for managing a single link in
the supply chain for office products. WidgetMaker is one of BigBox's subsidiaries.
WidgetMaker manufactures and services all widgets for BigBox.
Peter purchased a widget from BigBox. Peter's son Philip and Philip's friend
Phineas are killed by electrocution due to the malfunctioning widget in Peter's home
office.
Business Law Fundamentals
Fall 2012
O'Hara © 2012