Question 1

Unsolicited merchandise sent by U.S.mail may be kept by the recipient without incurring any obligation to the sender.

Accepted Answer

A) True 
 B)False

Question 2

Under the Electronic Funds Transfer Act,credit card companies such as VISA are liable for the first $100 charged to a customer's account without her knowledge.

Accepted Answer

A) True 
 B)False

Question 3

In general,when will the FDA require prescription use of a drug?

Accepted Answer

A)  If the drug is toxic, requires a physician's supervision for safe use, or is addictive. 
B)  Only if the drug is toxic. 
C)  Only if the drug is either toxic or requires a physician's supervision for safe use. 
D)  Only if the drug is addictive or requires a physician's supervision for safe use. 
A)  If the drug is toxic, requires a physician's supervision for safe use, or is addictive. 
B)  Only if the drug is toxic. 
C)  Only if the drug is either toxic or requires a physician's supervision for safe use. 
D)  Only if the drug is addictive or requires a physician's supervision for safe use.

Question 4

The Truth-in-Lending Act limits credit card liability to $50 per card for unauthorized charges made before a card issuer is notified of a lost or stolen card.

Accepted Answer

A) True 
 B)False

Question 5

Courts usually consider advertisements to be only an offer to deal.

Accepted Answer

A) True 
 B)False

Question 6

Fact Pattern 17-2
Janie is a pharmacist in Small City. At the direction of several physicians in Small City, she begins mixing up a treatment for indigestion that is prescribed by the physicians. She advertises the mixture, and she and prescribing physicians see a large increase in business. Other pharmacists who do not want to bother with mixing begin to complain. Janie takes the position that it is a free country, and she can do as she pleases since there is no evidence that the mixture is harmful; and it is particularly helpful for those individuals who have had reactions to other indigestion medication.
-Refer to Fact Pattern 17-2.Is it legal for her to advertise the product?

Accepted Answer

A)  No. 
B)  Only if it has been approved by the Food and Drug Administration. 
C)  Only if it is sold for under $50. 
D)  Yes. 
A)  No. 
B)  Only if it has been approved by the Food and Drug Administration. 
C)  Only if it is sold for under $50. 
D)  Yes.

Unsolicited merchandise sent by U.S.mail may be kept by the recipient without incurring any obligation to the sender.

Under the Electronic Funds Transfer Act,credit card companies such as VISA are liable for the first $100 charged to a customer's account without her knowledge.

In general,when will the FDA require prescription use of a drug?

The Truth-in-Lending Act limits credit card liability to $50 per card for unauthorized charges made before a card issuer is notified of a lost or stolen card.

Courts usually consider advertisements to be only an offer to deal.

Law, Value Creation, and Risk Management.

Ethics and the Law.

Sources of Law, Courts, and Dispute Resolution.

Constitutional Bases for Business Regulation.

Agency.

Administrative Law.

Contracts.

Sales, Licensing, and E-Commerce.

Torts and Privacy Protection.

Product Liability.

Intellectual Property.

The Employment Agreement.

Civil Rights and Employment Discrimination.

Criminal Law.

Environmental Law and Sustainability.

Antitrust.

Real Property and Land Use.

Forms of Business Organizations.

Directors, Officers, and Controlling Shareholders.

Public and Private Offerings of Securities.

Securities Fraud and Insider Trading.

Debtor-Creditor Relations and Bankruptcy.

International Law and Transactions.

Filters

Exam 17: Consumer Protection.

Unsolicited merchandise sent by U.S.mail may be kept by the recipient without incurring any obligation to the sender.

Under the Electronic Funds Transfer Act,credit card companies such as VISA are liable for the first $100 charged to a customer's account without her knowledge.

In general,when will the FDA require prescription use of a drug?

The Truth-in-Lending Act limits credit card liability to $50 per card for unauthorized charges made before a card issuer is notified of a lost or stolen card.

Courts usually consider advertisements to be only an offer to deal.

Law, Value Creation, and Risk Management.

Ethics and the Law.

Sources of Law, Courts, and Dispute Resolution.

Constitutional Bases for Business Regulation.

Agency.

Administrative Law.

Contracts.

Sales, Licensing, and E-Commerce.

Torts and Privacy Protection.

Product Liability.

Intellectual Property.

The Employment Agreement.

Civil Rights and Employment Discrimination.

Criminal Law.

Environmental Law and Sustainability.

Antitrust.

Real Property and Land Use.

Forms of Business Organizations.

Directors, Officers, and Controlling Shareholders.

Public and Private Offerings of Securities.

Securities Fraud and Insider Trading.

Debtor-Creditor Relations and Bankruptcy.

International Law and Transactions.

Filters