CHAPTER 1

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1. Sources of international law that affect Canadian businesses doing business abroad included

the Convention on the International Sale of Goods
the North American Free Trade Agreement
customs and practices
all of the above
none of the above

2. Arbitration

a process through which a neutral party makes a decision that resolves a dispute
a process through which the parties to a dispute endeavour to reach a resolution with the assistance of a neutral person
the process involved when one person sues another
the process involved when a judicial decision is appealed
none of the above

3. The values of the Canadian legal system include consistency. This means

the same law applies to everyone
the law is applied by someone who is free from bias
the law deals with similar cases in similar ways
changes in the law are gradual
standards of behaviour are defensible

4. Mechanisms available for resolving business disputes in Canada include

litigation
mediation
arbitration
negotiation
all of the above

5. A breach of contract is

failure to foresee the financial consequences of not abiding by a contract
the process by which a judge determines what the parties actually agreed to
failure to comply with a contractual promise
the process of instituting legal proceedings
the extent of liability for losses that have occurred

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6. The goal of employment equity law is to

establish a standard minimum wage across the country
eliminate hazards from the workplace
eliminate discrimination from the workplace
establish entitlement to vacation pay
none of the above

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7. The goal of bankruptcy law is to

A) ensure fair treatment of creditors of those who are unable to meet their obligations
B)prevent business failures
C)prevent bank failures
D)a &b
E)a &c

8. The goal of copyright law is to

ensure that photocopiers are well maintained
establish intellectual property rights
punish individuals who use photocopiers inappropriately
ensure fair treatment of creditors<
enforce contractual rights

9. The phrase "there cannot be a right without a remedy" refers to

the need for business people to be aware of the principles of contract law
the requirements that must be met in order for a contract to be enforceable
the process of instituting formal legal proceedings
the right to institute formal legal proceedings
the protection of innocent people by making those who break the law accountable

10. The law functions to

prevent disputes
resolve disputes
facilitate relationships
all of the above
none of the above