DeVry MGMT 520 Final Exam 100% Correct Answer
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DeVry MGMT 520 Final Exam
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1) (TCO A & F) Ownership of property has long been a major benefit of businesses in the U.S. and on the
World Stage. Such property varies from Real Property and Tangible Property. Define these two types of
property in and give examples of each such property.
2) TCO I) An American Petroleum Engineer, who has been on an Offshore Nigerian Oil Platform for 30
days, enters Lagos harbor in a work boat with 15 Nigerian oil rig workers. The work boat is stopped by the
Lagos Harbor Police. The Police Captain immediately spots the American and demands to see his Work
Visa. The Engineer surrenders his Passport and Business Visa to the Police Captain. The Police Captain
says the paperwork is not complete, and demands the Engineer jump into the Harbor Police boat to be
taken to the Immigration Bureau for prosecution. The Engineer says he has a plane ticket out of Nigeria
for 10:00 PM that night, and cannot afford to miss his flight. The Police Captain says, you will miss your
flight unless you will give me $500 for my kids for Christmas. The Engineer says, I only have $300, and
the Police Captain says that will do. The Engineer gives the Police Captain the $300, and the Captain
pushes his boat away and says “Have A Nice Trip”. This issue is simple, “does this payment to the Harbor
Police Captain constitute a bribe under the Foreign Corrupt Practices Act”? What provisions of the FCPA
cover such payments? (Points : 30)
3) TCO C) An escalator in a very popular and busy shopping center, had a Red Emergency Stop Button
on the inside of the elevator wall about 3 feet above the floor. There was no protective cap over the stop
bottom. With a crowd of customers on the escalator, a 4 year-old little boy hit the Red Emergency Stop
Button, and the escalator stopped immediately. A total of fifteen customers fell with the sudden stop, and
seven suffered serious injuries. The injured parties filed law suits against the shopping center, and the
shopping center enjoined the manufacturer of the escalator. Assume the role of the judge in this case. Do
you think the injured parties can recover for their injuries? Which of the defendants do you think will be
held liable for said injuries, and what will be the basis for the recoverable injuries? What is the basic legal
question of liability in this case? (Points : 30)
4) (TCO D) Frequently business people, or just any individual, fail to realize the importance of contracts in
their daily lives. Many casual agreements in our day-to-day lives are actually enforceable as contracts in
a court of law; a 25 page written and notarized agreement is not always required. To demonstrate the
importance of contracts, please begin by listing and defining the four required elements of a contract
needed for enforcing it in court. The enforcement of contracts then leads to the next question of whether a
contract is enforceable under the Common Law, or under the Uniform Commercial Code? Define this
issue.
As a final segment of this question, please define the following contract terms:
Void
Voidable
Quasi Contract
Executory Contract
Executed Contract
Mail Box Rule
5) (TCO E) There is an amusement park that restricts entry to people of a certain race. The park sells
food and is located approximately 1 mile off of the highway. Conclude whether or not the Civil Rights Act
can be invoked. Demonstrate why or why not.
6) (TCO G) The Federal Government’s prosecution and eventual dissolution of the Standard Oil Trust
under the 1890 Sherman Act before the Supreme Court in 1911 was the dominate example of antirust
litigation in this country for almost 100 years. The only other Federal attack on a business as a dominate
Monopoly to approach the importance of the Standard Oil Trust case was the United States v. Microsoft
Corporation case, which was originally filed in 1999 by President Bill Clinton and his Attorney General
Janet Reno. The Microsoft Case was resolved at the U.S. Circuit Court of Appeals in 2001 by President
George W. Bush and Attorney General John Ashcroft. What was the basis, Federal Statute, for the
original complaint against Microsoft? What was the basis of the specific complaint the Federal
Government filed against Microsoft? What was the final result of the case, and the lasting impact on the
software/computer industry?
7)(TCO H) In today’s business world in the United States, four alternate forms of business organizations
tend to dominate our commercial activities:
Sole Proprietorship (DBA);
General Partnerships;
Public Corporation (Inc.); and
Limited Liability Company (LLC)
List, compare, and discuss the factors that one considers in selecting one of these types of business
organizations to form in starting a business. (30 Points) )
DeVry MGMT 520 Final Exam
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Click on the link below for the solution:
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1) (TCO A & F) Ownership of property has long been a major benefit of businesses in the U.S. and on the
World Stage. Such property varies from Real Property and Tangible Property. Define these two types of
property in and give examples of each such property.
2) TCO I) An American Petroleum Engineer, who has been on an Offshore Nigerian Oil Platform for 30
days, enters Lagos harbor in a work boat with 15 Nigerian oil rig workers. The work boat is stopped by the
Lagos Harbor Police. The Police Captain immediately spots the American and demands to see his Work
Visa. The Engineer surrenders his Passport and Business Visa to the Police Captain. The Police Captain
says the paperwork is not complete, and demands the Engineer jump into the Harbor Police boat to be
taken to the Immigration Bureau for prosecution. The Engineer says he has a plane ticket out of Nigeria
for 10:00 PM that night, and cannot afford to miss his flight. The Police Captain says, you will miss your
flight unless you will give me $500 for my kids for Christmas. The Engineer says, I only have $300, and
the Police Captain says that will do. The Engineer gives the Police Captain the $300, and the Captain
pushes his boat away and says “Have A Nice Trip”. This issue is simple, “does this payment to the Harbor
Police Captain constitute a bribe under the Foreign Corrupt Practices Act”? What provisions of the FCPA
cover such payments? (Points : 30)
3) TCO C) An escalator in a very popular and busy shopping center, had a Red Emergency Stop Button
on the inside of the elevator wall about 3 feet above the floor. There was no protective cap over the stop
bottom. With a crowd of customers on the escalator, a 4 year-old little boy hit the Red Emergency Stop
Button, and the escalator stopped immediately. A total of fifteen customers fell with the sudden stop, and
seven suffered serious injuries. The injured parties filed law suits against the shopping center, and the
shopping center enjoined the manufacturer of the escalator. Assume the role of the judge in this case. Do
you think the injured parties can recover for their injuries? Which of the defendants do you think will be
held liable for said injuries, and what will be the basis for the recoverable injuries? What is the basic legal
question of liability in this case? (Points : 30)
4) (TCO D) Frequently business people, or just any individual, fail to realize the importance of contracts in
their daily lives. Many casual agreements in our day-to-day lives are actually enforceable as contracts in
a court of law; a 25 page written and notarized agreement is not always required. To demonstrate the
importance of contracts, please begin by listing and defining the four required elements of a contract
needed for enforcing it in court. The enforcement of contracts then leads to the next question of whether a
contract is enforceable under the Common Law, or under the Uniform Commercial Code? Define this
issue.
As a final segment of this question, please define the following contract terms:
Void
Voidable
Quasi Contract
Executory Contract
Executed Contract
Mail Box Rule
5) (TCO E) There is an amusement park that restricts entry to people of a certain race. The park sells
food and is located approximately 1 mile off of the highway. Conclude whether or not the Civil Rights Act
can be invoked. Demonstrate why or why not.
6) (TCO G) The Federal Government’s prosecution and eventual dissolution of the Standard Oil Trust
under the 1890 Sherman Act before the Supreme Court in 1911 was the dominate example of antirust
litigation in this country for almost 100 years. The only other Federal attack on a business as a dominate
Monopoly to approach the importance of the Standard Oil Trust case was the United States v. Microsoft
Corporation case, which was originally filed in 1999 by President Bill Clinton and his Attorney General
Janet Reno. The Microsoft Case was resolved at the U.S. Circuit Court of Appeals in 2001 by President
George W. Bush and Attorney General John Ashcroft. What was the basis, Federal Statute, for the
original complaint against Microsoft? What was the basis of the specific complaint the Federal
Government filed against Microsoft? What was the final result of the case, and the lasting impact on the
software/computer industry?
7)(TCO H) In today’s business world in the United States, four alternate forms of business organizations
tend to dominate our commercial activities:
Sole Proprietorship (DBA);
General Partnerships;
Public Corporation (Inc.); and
Limited Liability Company (LLC)
List, compare, and discuss the factors that one considers in selecting one of these types of business
organizations to form in starting a business. (30 Points) )
DeVry MGMT 520 Final Exam
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http://devryfinalexams.com/products/mgmt-520-final-exam/
