Multiple choice
1. (TCO 9) The _____ Act provides penalties for the emission of non-point pollution into rivers and streams.
Clean Air
No Pollution
Dirty Water
Clean Water
2. (TCO 9) _____ requires car manufacturers to take back used cars for recycling.
Europe
Arkansas
Montana
California
3. In the “old days” in Orlando, Florida, a real estate agent began to make some very nice offers to buy local orange growers’ and farmers’ land. The agent did not disclose the fact that her Question 1
principal was the Walt Disney Company. Yet she secretly was working as an agent for the Walt Disney Company which was afraid of skyrocketing prices if the “word got out” that Disney was the buyer. When the farmers discovered that the agent was working for Disney, and that they had sold their land to Disney, they claimed the contracts they made were invalid due to the fact that Disney, the principal, was undisclosed. The likely result of any legal dispute among the parties will be:
Answer
The agent is liable on the contracts.
Disney can enforce the contracts even those it was not disclosed as the principal.
The farmers are liable on the contracts assuming that the agent did not fraudulently misrepresent that she was acting alone and that Disney was not her principal.
All of the above are likely results.
4. Marcus, an entrepreneur, has developed an excellent business plan for a proposed business. He wants to show it to some venture capitalists with the hope that they will invest in the venture, but he is concerned about protecting his business plan from appropriation and wants to protect it as a legal trade secret. Can the business plan be protected as a trade secret?
Answer
No, because it cannot be kept secret since Marcus obviously has to show it to people.
No, because it does not have actual worth, rather only potential worth since it is a proposed business.
No, because it contains only “soft” information, such as ideas, concepts, strategies, and plans, and not “hard” scientific information, such as formulas.
Yes if Marcus takes reasonable efforts to keep the plan secret such as putting a confidentiality notice and warning on the plan.
