Question 1. 1. (TCO A) What is the difference between
arbitration and litigation? What steps in the litigation process are missing in
arbitration? Analyze and evaluate the various issues presented while arguing
and debating the connections between business, law, politics, and ethics.
(Points : 30)
Question 2. 2. (TCO B) Should plaintiffs be able to recover
from cigarette manufacturers for smoking-related illnesses? Are there variables
that should affect the manufacturers’ liability? What are they? What effect
should the warnings on cigarette packages have on the outcome? Analyze and
evaluate the various issues presented while arguing and debating the
connections between business, law, politics, and ethics. (Points : 30)
Question 3. 3. (TCO C) Under contract law in the U.S.,
certain types of contracts must be in writing to be enforceable in court. What
is the legal designation of such a contract in the U.S.? List and define the
five types of contracts that must be in writing. (Points : 30)
Question 4. 4. (TCO D) Discuss the policies behind giving
medical leave under the Family Medical Leave Act (FMLA)—what is the nation
trying to accomplish, and is the FMLA written appropriately to meet those
goals? Analyze and evaluate the various issues presented while arguing and debating
the connections between business, law, politics, and ethics. (Points : 30)
Question 5. 5. (TCO E) Should a drug manufacturer that holds
a patent on a drug that is very effective for many AIDS patients be able to
sell that drug well above its cost of production during the period of patent
protection? If so, under what circumstances? Should these companies sell, or be
required to sell, these drugs at lower prices to persons in poor nations that
have a larger problem with AIDS than the United States? Analyze and evaluate
the various issues presented while arguing and debating the connections between
business, law, politics, and ethics. (Points : 30)
Question 6. 6. (TCO F) The Sherman Act of 1890 provided the
basic Federal Statute for prosecution and ultimate dissolution of the Standard
Oil Trust in 1911, which had functioned as a monopoly controlling 92% of the
oil and natural gas business in the United States; also known as the great
clash between President Theodore Roosevelt and Exxon Founder John D.
Rockefeller. This famous Supreme Court case was followed by the Clayton Act of
1914, which sought to prevent formation of future monopolies, and outlined a
number of prohibited business activities. A century later lawyers, economists,
and other business people continue to debate the goals and/or benefits of
antitrust legislation, and resulting court decisions. List and discuss the four
goals of antitrust statutes, and then identify the specific elements of
business activities targeted as restraint of trade. Analyze and evaluate the
various issues presented while arguing and debating the connections between
business, law, politics, and ethics. (Points : 30)
Question 7. 7. (TCO G) Compare and contrast the theories of
liability for insider trading under the antifraud provisions of Section 10(b)
of the Securities Exchange Act of 1934. Analyze and evaluate the various issues
presented while arguing and debating the connections between business, law,
politics, and ethics. (Points : 30)
Time Remaining:A
