MGMT 271 (WWU Doucet) Latest Update 2024 115+ Questions and Verified Correct Answers Guaranteed A+ "Per Se" Illegality: Bid Rigging (CH. 12) - CORRECT ANSWER: Two or more companies agree to price bids unfairly.
"Per Se" Illegality: Horizontal Division of Territory (CH. 12) - CORRECT ANSWER: Competitors agree to a division of territories. This practice distorts competition, customers only have one supplier of a good or service (dividing territory so there's no competition).
"Per Se" Illegality: Horizontal Group Boycotts (CH. 12) - CORRECT ANSWER: Competing sellers cannot agree among themselves not to sell to certain customers or resellers. Distorts competition by restricting goods or services available to consumers.
"Per Se" Illegality: Horizontal Price Fixing (CH. 12) - CORRECT ANSWER: agreement between competitors to set the price of some product or service. This practice distorts competition and competitive pricing. (Considered illegal if a company opens declares a price they're setting)
Age Discrimination in Employment Act of 1967 (CH. 14) - CORRECT ANSWER:
Protects people who are 40+ years old from discrimination because of age.
Bona Fide Occupational Qualification (CH. 14) - CORRECT ANSWER: Defense to
claim of disparate treatment in certain instances for religion, sex or national origin, if employer meets 4 part test, when a bona fide occupational qualification is reasonably necessary to the normal operation of a particular business: 1. a real connection between the classification and ability to perform; 2. proof that the classification is necessary for the job; 3. demonstrate that the classification affects the "essence" of the employer's business, and; 4. no less-discriminatory alternatives.
Business Judgment Rule (CH.9) - CORRECT ANSWER: The board's judgement is to
determine the judgment of the dispute. It's not the judge's job!
Chapter 11 - CORRECT ANSWER: Provides for a corporation or partnership to
restructure its debt by establishing a plan of reorganization to keep its business going and to pay creditors over a period of time. Can be converted to liquidation.
Chapter 13 - CORRECT ANSWER: Allows an individual with regular income to
reschedule their debts.
Collective Bargaining (agreement) (CH. 13) - CORRECT ANSWER: Have to bargain as
an employer with the union for 1. wages, 2. hours; 3. working conditions. It also provides for arbitrary/ judgement. 1 / 2
Corporate veil (CH. 9) - CORRECT ANSWER: The legal entity between the
shareholders and corporate creditors.
Employee Retirement Income Security Act (ERISA) (CH. 13) - CORRECT ANSWER: A
federal law that sets minimum standards for pension plans in private industry.
Employees cannot be fired if the dismissal contravenes public policy: Wagenseller v.
Scottsdale Memorial Hospital (Ariz, 1985) (CH. 13) - CORRECT ANSWER: READ
Employment AT WILL Doctrine (CH. 13) - CORRECT ANSWER: Employee free to quit
anytime and employer free to terminate employee at anytime. Exceptions: Employees cannot be fired if the dismissal contravenes public policy; Violates an implied contract term of good faith and fair dealing; and Contradicts an employer's statements regarding termination.
Environmental Protection Agency (EPA) (CH. 11) - CORRECT ANSWER: Created in
1970 to research, set standards, monitor and enforce environmental regulations.-helps establish national environment policy, regulates clean water standards, regulates clean air standards and regulates solid-waste disposal standards.
False advertising (CH. 15) - CORRECT ANSWER: Is NOT protected speech under the
First Amendment.
Federal Trade Commission (CH. 12) - CORRECT ANSWER: Administers antitrust and
consumer protection legislation in pursuit of free and fair competition in the marketplace.
Federal Trade Commission Act (CH. 15) - CORRECT ANSWER: Makes illegal "unfair methods of competition and unfair or deceptive acts or practices in commerce."
Food and Drug Administration (CH. 15) - CORRECT ANSWER: Illegal to sale any food, drug or cosmetic when "labeling is false and misleading in any particular". Tobacco ads regulated, but no "forced speech" requiring tobacco companies to advertise anti- smoking ad campaign (federal regulation of advertising.)
Four factors in Monopoly Power (CH. 12) - CORRECT ANSWER: Facts considered: 1.Product Market- percentage of the market for a single product controlled by the company; 2. Geographic Market- percentage of the market controlled by a company in a geographic area; 3. Market Power- look at actions to reduce competition, market share, and size of other firms; 4. Intention to Monopolize- company intentionally engaged in practices to create a monopoly for
Frigidaire Sales Corp. v Union Properties, Inc (CH.9) - CORRECT ANSWER: about
personal liability in a limited partnership. Do the two natural persons become personally liable in these circumstances where they are the principals of the corporate general partner in a limited partnership?
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