Devry MGMT 520 Final Exam 2016 December

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Devry MGMT 520 Final Exam 2016 December

Question

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)

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