Q&A Hero

Business Law

Q: The consumer must send a required notice of cancellation to the seller of a door-to-door sales contract within three days to rescind an order.
Q: The Do-Not-Call Registry allows consumers to designate specific companies not to call them.
Q: The Health Care Reform Act extends health care coverage to illegal immigrants.
Q: The Health Care Reform Act prohibits insurers from establishing an annual spending cap for benefit payments.
Q: The FTC can sue in either the state or federal courts to obtain compensation on behalf of consumers.
Q: Proof of actual deception is required for an advertising to be considered false under Section 5 of the FTC.
Q: If a model of a car has faulty airbag deployment, the Consumer Product Safety Commission has the power to recall that model on receiving complaint.
Q: Firearms represent an example of consumer products which do not come under the CPSC rules.
Q: The Family Smoking Prevention and Tobacco Control Act, which requires mandatory warnings to be placed on cigarette packages, is enforced by the Health Care Reform Act.
Q: The goal of the Health Reform Act is to increase the number of persons who have health care insurance in the United States.
Q: Under the Health Care Reform Act, persons who do not obtain health coverage will be provided free health insurance by the government.
Q: The Health Care Reform Act provides special subsidies to "Cadillac" health insurance programs that provide health care benefits that cost above a certain level.
Q: Under the Consumer Product Safety Act, a private party can sue for an injunction to prevent violations of the act or of CPSC rules and regulations
Q: The FDA mandates a label of "NOT TESTED ON ANIMALS" on all cosmetic products.
Q: The mislabeling of medicinal devices is prohibited under the Nutrition Labeling and Education Act.
Q: Kidney dialysis machines are scrutinized for attainment of quality standards under the Drug Amendment to the FDCA.
Q: The CPSC is an independent federal administrative agency empowered to regulate potentially dangerous consumer products and issue product safety standards.
Q: The Biosafety Protocol label is used to identify certain food products that have been genetically modified.
Q: The Drug Amendment to the FDCA gives the FDA broad powers to license new drugs in the United States.
Q: The FDA cannot withdraw approval of any previously licensed drug.
Q: The FDA labels ordinary household soap as a cosmetic product.
Q: The FDA cannot recall any cosmetics that contain unsubstantiated claims of preserving youth or increasing virility from the market.
Q: The FDA places a complete ban on the use of animal testing in the production of cosmetic goods.
Q: FDA approval is not mandatory for medical devices to be legally sold in the U.S.
Q: A manufacturer can be held liable for deceptive labeling or packaging under the Health Care Reform Act.
Q: The NLEA applies to packaged foods and other foods regulated by the Food and Drug Administration.
Q: Sellers of raw fruits and vegetables can adopt a voluntary approach when it comes to labeling requirements.
Q: Section 4205 of the Patient Protection and Affordable Health Care Act of 2010 requires restaurants and retail food establishments with 20 or more locations to disclose calorie counts of their food items.
Q: The Consumer Product Safety Commission is the federal administrative agency empowered to enforce the FDCA.
Q: Antitrust defendants often opt to settle government-brought antitrust actions by entering a plea of nolo contendere.
Q: The U.S. Food and Drug Administration promotes the principle of caveat emptor in sale transactions involving food and drugs.
Q: The Consumer Product Safety Commission, created in 1972, has the authority to recall unsafe toys.
Q: The U.S. Department of Agriculture is the federal administrative agency that is primarily responsible for regulating meat, poultry, and other food products.
Q: The Sherman Act is the only major antitrust act that includes criminal sanctions.
Q: Treble damages cannot be sought for the violation of antitrust laws.
Q: Private parties cannot intervene in public antitrust actions brought by the government.
Q: The FTC Act can be used to recover treble damages.
Q: The antitrust laws were enacted to promote anticompetitive behavior in commerce and industry.
Q: Federal antitrust laws provide only for government lawsuits.
Q: Antitrust laws are constant across changes in governmental administration.
Q: The Clayton Act, enacted in 1914, regulates mergers and prohibits certain exclusive dealing arrangements.
Q: The Robinson-Patman Act is a federal statute that makes it mandatory to provide a notification prior to a merger.
Q: ________ are vertical trade restraints that involve the seller's refusal to sell a product, the tying item, to a customer unless the customer purchases a second product.
Q: Section 2 of the Clayton Act, which is commonly referred to as the ________ Act, prohibits price discrimination in the sale of goods if certain requirements are met.
Q: The exemption of railroads from antitrust laws is an example of a(n) ________ exemption.
Q: The ________ Act, enacted in 1950, widened the scope of Section 7 of the Clayton Act to include asset acquisitions.
Q: Mergers between firms in unrelated businesses are known as ________ mergers.
Q: The ________ doctrine states that a firm can unilaterally choose not to deal with another party without being liable under Section 1 of the Sherman Act.
Q: If two competing manufacturers of a similar product both separately reach an independent decision not to deal with a retailer, ________ is said to have occurred, which is not a violation of Section 1 of the Sherman Act.
Q: The ________ doctrine holds that two or more persons may petition the executive, legislative, or judicial branch of the government or administrative agencies to enact laws or to take other action without violating antitrust laws.
Q: The power of a firm to control prices or exclude competition, measured by the market share the defendant possesses in the relevant market is known as ________.
Q: Predatory pricing, which is used to drive out competition, is in violation of the ________.
Q: ________ is a defense to a charge of monopolizing which recognizes that a small market can support only one competitor, such as a small-town newspaper.
Q: Contracts, combinations, and conspiracies in restraint of trade are outlawed by Section 1 of the ________ Act.
Q: Price fixing is a ________ violation of Section 1 of the Sherman Act.
Q: ________ occurs when a party at one level of distribution enters into an agreement with a party at another level to adhere to a price schedule that either sets or stabilizes prices.
Q: The legality of nonprice vertical restraints of trade under Section 1 of the Sherman Act is examined by using the ________.
Q: Federal ________ law comprises several major statutes that prohibit certain anticompetitive and monopolistic practices.
Q: The ________ is a federal statute, enacted in 1914, that regulates mergers and prohibits certain exclusive dealing arrangements.
Q: Under ________ of the Clayton Act, any person who suffers antitrust injury in his or her business or property can bring a private civil action against the offenders.
Q: The ________ rule is a rule that is applicable to restraints of trade considered inherently anticompetitive. Once this determination is made about a restraint of trade, the court will not permit any defenses or justifications to save it.
Q: Give an account of state antitrust laws.
Q: Which of the following businesses and activities enjoys an implied exemption from antitrust laws? A) railroads B) agricultural cooperatives C) airlines D) labor unions
Q: Give an account of the Noerr doctrine.
Q: How is a relevant market identified by Section 2 of the Sherman Act?
Q: What is a premerger notification? Explain the process outlined by the Hart-Scott-Rodino Antitrust Improvement Act to execute a merger.
Q: What are the three statutory defenses under the Robinson-Patman Act for price discrimination?
Q: A merger between two regional fruit-sellers that do not sell fruit in the same geographical area is an example of a ________. A) market extension merger B) conglomerate merger C) horizontal merger D) vertical merger
Q: ________ are mergers between firms in totally unrelated businesses. A) Market extension mergers B) Conglomerate mergers C) Horizontal mergers D) Forward vertical mergers
Q: Which of the following is considered to be a primary defense against Section 7 of the Clayton Act? A) Noerr doctrine B) Colgate doctrine C) the failing company doctrine D) Conscious parallelism doctrine
Q: ________ is an act that requires certain firms to notify the Federal Trade Commission and the Justice Department in advance of a proposed merger and comply with a thirty-day waiting period before the merger is approved. A) Celler-Kefauver Act B) Hart-Scott-Rodino Antitrust Improvement Act C) Robinson-Patman Act D) Sherman Act
Q: ________ is a restraint of trade in which a seller refuses to sell one product to a customer unless the customer agrees to purchase a second product from the seller. A) Tying arrangement B) Predatory pricing C) Price fixing D) Group boycott
Q: ________ is a defense in a Section 2(a) action which provides that a seller's price discrimination is not unlawful if the price differential is due to "differences in the cost of manufacture, sale, or delivery" of the product. A) Natural monopoly defense B) Meeting the competition defense C) Changing conditions defense D) Cost justification defense
Q: Which of the following businesses and activities enjoys a statutory exemption from antitrust laws? A) airlines B) professional baseball C) agricultural cooperatives D) all professional sports and games
Q: A merger between two or more companies that compete in the same business and geographical market is known as ________. A) horizontal merger B) vertical merger C) market extension merger D) conglomerate merger
Q: What is a vertical merger? A) a merger between firms in totally unrelated businesses B) a merger that integrates the operations of a supplier and a customer C) a merger between two companies in similar fields whose sales do not overlap D) a merger between two or more companies that compete in the same business and geographical market
Q: What is a backward vertical merger? A) a vertical merger between two or more companies that compete in the same business and geographical market B) a vertical merger between two companies in similar fields whose sales do not overlap C) a vertical merger in which a supplier acquires a customer D) a vertical merger in which a customer acquires a supplier
Q: Which of the following is a defense to a charge of monopoly? A) the Noerr doctrine B) natural monopoly C) conscious parallelism D) predatory pricing
Q: Conscious parallelism is seen when ________. A) parties at different levels enter into an agreement to adhere to a price schedule that stabilizes prices B) one party makes an independent choice not to deal with another C) two or more firms act the same but no concerted action is shown D) a party's anticompetitive effects outweigh their procompetitive effects
Q: ________ is an antitrust principle which says that two or more persons can petition the executive, legislative, or judicial branch of the government or administrative agencies to enact laws or take other action without violating antitrust laws. A) Noerr doctrine B) Colgate doctrine C) Nolo contendere D) Small company doctrine
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