Test — Exam Answers

What was the Bretton Woods system?The Bretton Woods system was a post-World War II reconstruction plan to found three key institutions: the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (IBRD), which later became the World Bank, and _____.

Disparate treatment may result from unintentional actions, such as setting certain hiring qualifications that may result in one race, religion, or sex, for example, being hired in disproportionately higher numbers than others.

If one partner does something to injure another person, then all of the partners are held equally responsible for damages in this type of partnership: _____.

Private International Law governs transactions between corporations and citizens of different countries.

Money laundering involves taking someone else's property illegally and without their knowledge.

Bribery is the giving or taking of money or something of value to influence a private individual about a personal decision.

A person has the right to be secure in his or her person or property from unreasonable searches and seizures.

Congress is able to enforce federal employment legislation on states and private actors through the _____.

The three key elements of a contract are: Offer + Acceptance + ________ = A Contract.

The three parties in an agency relationship and the function of each are the principal (the person giving the direction), the agent (the person doing the action at the principal's direction), and _____.

What is the main requirement for a trademark?

The three branches of government are Legislative, Executive, and _____.

Which is the most common type of patent?

The two types of creditors in a bankruptcy are with interest and without interest.

The key elements of a crime are the physical act causing social harm (the actus reus) and mental intent (mens rea).

The main objective of the Administrative Procedure Act (APA) is to provide minimal procedural standards for administrative agencies to follow in (a) rulemaking and (b) adjudication.

A private nuisance is an ongoing interference with the public's health, safety, and welfare, such as a hog farm or illegal dumping site.

The four key elements of negligence are duty of care, breach of the duty of care, causation, and _____.

Requirements for legal capacity for an individual are that a person must be at least sixteen and intelligent.

When law-enforcement officials do not have to provide search warrants to conduct searches in highly regulated industries, this is called a warranted search.