Deck 1: Business Law

Question 1

Business ethics refers to the moral decisions made by the stakeholders of a business.

Answer 1

True

Question 2

Risk management allows a business to understand and assess risks associated with doing business.

Answer 2

True

Question 3

If a business did not retain documentation necessary for a lawsuit, they run the risk of losing their lawsuit.

Answer 3

True

Question 4

Laws are the rules of conduct that protect the rights of individuals and businesses.

Question 5

A privacy policy is a list of rules of conduct for employees relating to the creation, usage, control, and maintenance of personal information.

Question 6

A business can protect its rights and ability to do business by understanding its obligations to the public.

Question 7

When drafting a privacy policy, it is important to include what information is being collected and how it is being collected.

Question 8

How to submit information to the Canada Revenue Agency to maximize profits while following rules is an example of an ethical decision.

Question 9

How to manage a conflict of interest with an employee is not an example of an ethical decision.

Question 10

A business can use personal information only for the purposes for which it was collected.

Question 11

Business laws are in place to protect the business, the owner, and the public.

Question 12

Businesses must follow the guidelines of the Personal Information Protection and Electronic Documents Act (PIPEDA), when collecting and using personal information from their customers.

Question 13

You need to understand the area of law that may apply to your business.

Question 14

Canada has three (3) types of law.

Question 15

A business need only obtain consent once for the personal information it collects.

Question 16

Laws guide the businessperson in the proper way to conduct the business.

Question 17

Business Law is all the laws that are created in order to form and run a business.

Question 18

Good risk management may allow a business to avoid legal consequences.

Question 19

It is not necessary for a business to retain documentation for lawsuits.

Question 20

Each level of government can pass laws to protect businesses and the public from harm.

Question 21

Private law sets the rules for the relationship between society and business.

Question 22

Public law governs the relationship between individuals.

Question 23

In civil law, the Crown tries to prove that the accused is guilty beyond a reasonable doubt.

Question 24

Constitutional law limits the exercise of governmental power over individuals and businesses through the protection of fundamental rights and freedoms.

Question 25

Criminal law is a set of rules that individuals and not businesses must obey.

Question 26

Administrative laws set out broad policy statements and establish a board commission or agency to ensure compliance by business.

Question 27

Administrative tribunals, boards, or commissions all use the same process to resolve issues.

Question 28

Canada has two (2) types of law.

Question 29

The Tax Court of Canada is a superior court in which businesses may litigate disputes concerning GST with the federal government.

Question 30

Criminal law is designed to protect society from crimes.

Question 31

Administrative tribunals, boards, or commissions usually use Registration or licensing to control business subject to the administrative law.

Question 32

A slip and fall outside your business is an example of civil law.

Question 33

In civil law, a plaintiff sues a defendant for compensation.

Question 34

Public law dictates how a business resolves a dispute with the government.

Question 35

Private law governs the relationship between individuals.

Question 36

Civil law is another name for private law.

Question 37

Common law is used in all courts of Canada.

Question 38

Public law sets the rules for the relationship between society and business.

Question 39

Businesses need not be concerned with white-collar crime.

Question 40

Canada adopted common law from Britain.

Question 41

The role of the judiciary is to interpret and pronounce the law.

Question 42

The legislative branch of government has the power to make, alter and repeal the laws.

Question 43

Stare decisis means that judges in lower courts must follow decisions from higher courts in their provinces.

Question 44

A business needs to only be aware of statutes made for the province in which it does business.

Question 45

A business can use common law as precedent to help make its decisions involving legal risks.

Question 46

The Constitution Act 1867 outlines the executive and legislative powers of federal and provincial governments.

Question 47

Common law is case law or judge made precedent law.

Question 48

Statute law is a set of codes, rules, and regulations that have been enacted by government.

Question 49

Canada has three (3) branches of government.

Question 50

The legislative branch of government is responsible for administering and enforcing the laws.

Question 51

Alternative Dispute Resolution is a process to resolve disputes in a way that does not involve going to court.

Question 52

Mediation and arbitration are examples of ADR.

Question 53

Regulations are laws developed by departments and other organizations in specific areas.

Question 54

The hierarchy of courts is the same in each province.

Question 55

Court decisions are based on what the law says and what the evidence proves.

Question 56

ADR is usually less expensive than litigation.

Question 57

The executive branch of government is responsible for administering and enforcing the laws.

Question 58

The executive branch of government has the power to make, alter, and repeal the laws.

Question 59

The Constitution Act 1982 entrenches the Canadian Charter of Rights and Freedoms as well as other rights such as Aboriginal rights.

Question 60

A statute is a law enacted at the municipal, provincial, or federal level.

Question 61

ADR can harm the goodwill between the parties.

Question 62

The Personal Information Protection and Electronics Documents Act is:

A) A federal statute that applies in none of the provinces.
B) A provincial statute that applies in all provinces.
C) A provincial statute that applies in one province only.
D) A federal statute that applies in all provinces.

Question 63

ADR is usually more private than litigation.

Question 64

Which of the following activities does not constitute a criminal activity?

A) A business owner seeks insurance compensation for a property he or she lost in a fire
B) A business owner transfers his or her land to a related person before declaring bankruptcy
C) A business owner tells a friend about an undisclosed merger that will increase his or her business's value
D) A business owner forgets to advise the accountant that he or she sold an asset

Question 65

Which of the following statues outlines the executive and legislative powers of federal and provincial governments?

A) Constitution Act 1982
B) Constitution Act 1867
C) Charter of Rights and Freedoms
D) Constitution Act 1967

Question 66

As a general rule, it is best for a businessperson to:

A) Resolve legal business problems without legal advice.
B) Get legal advice after making any business decision.
C) Get legal advice before making complex legal business decisions.
D) Get legal advice before making any business decision.

Question 67

Which of the following is not an area of public law?

A) Contract law
B) Criminal law
C) Tax law
D) Administrative law

Question 68

ADR is usually less time consuming than litigation.

Question 69

Which of the following is not a good reason for a businessperson to seek advice from a lawyer?

A) The businessperson cannot find the necessary legal information.
B) The businessperson cannot understand the necessary legal information.
C) It would take too long for the businessperson to find the necessary legal information.
D) The necessary legal information is available online.

Question 70

Which one of the following is not a business stakeholder?

A) Shareholders
B) Suppliers
C) Employees
D) Customers

Question 71

The difference between law and ethics is that:

A) Law tells us what we must do and ethics tells us what we should do
B) Law tells us what we should do and ethics tells us what we must do
C) Law tells us what others should do and ethics tells us what we must do
D) Law tells us what others must do and ethics tells us what we must do

Question 72

ADR is usually less private than litigation.

Question 73

ADR can preserve the goodwill between the parties.

Question 74

Which of the following is not required to be put into a privacy policy?

A) How the information is going to be shared with third parties.
B) Details on how the information is being kept secure.
C) Details of the impact of the information on the business.
D) A pledge to protect the client's privacy.

Question 75

When judges apply the principle of stare decisis in deciding a case before them they are, in effect, applying:

A) Statute law
B) Precedent law
C) Constitutional law
D) Civil law

Question 76

Which of the following is not a white-collar crime?

A) Identity theft
B) Assault & battery
C) Tax evasion
D) Bankruptcy fraud

Question 77

ADR is usually more expensive than litigation.

Question 78

ADR is usually more time consuming than litigation.

Question 79

Having access to legal advice is:

A) A critical component of a risk management plan.
B) Usually too expensive to be worthwhile.
C) A legal requirement of operating a business.
D) Only necessary for large companies.

Question 80

The Simpson brothers have applied to the Liquor License Board of their province to obtain a wine and beer license for their new restaurant. Which of the following is not true?

A) The decisions of the Board become part of the administrative law of the province
B) All decisions of the Board are subject to approval by the provincial legislature
C) The Board is an administrative tribunal, not a court of law
D) The Simpsons will deal with civil servants rather than elected representatives while applying for their license