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Question
Presidential Profits. Linda was president of a publicly traded tractor company, Tough Tractors. Linda became aware that stock in her company would likely increase significantly in value because her company had a contract to purchase the assets of Rough Tractors. The boards of both companies wanted the information kept confidential until the purchase was complete and a news release was made. Before the news was made public, Linda immediately purchased a significant number of shares in Tough Tractors. Linda also told her friend Frank about the contract to purchase assets. Frank, who knew that the information was not public, told his brother, George. Frank and George purchased a number of shares of stock in Tough Tractors prior to any public announcement of the sale. After the public announce was made and the purchase of assets went through, Linda, George and Frank, all sold their shares in Tough Tractors and made a nice profit. For which of the following is Linda liable?
A. Her own profits only.
B. Her profits and those of Frank only.
C. Her profits, the profits of Frank, and also the profits of George.
D. Her profits only plus a 10% penalty.
E. Nothing because she did nothing illegal.
Answer
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Related questions
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Which is not an intention tort against one's economic interest?
A. Disparagement
B. Intentional interference with a contract
C. Unfair competition
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E. Conversion
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Under which of the following situations does the tort of trespass to realty occur?
A. When a person causes an object to be placed on the land of another without the landowner's permission.
B. When a person stays on the land of another when the owner tells him to depart.
C. When a person refuses to remove something he placed on the property that the owner of the property asked him remove.
D. When a person causes an object to be placed on the land of another without the landowner's permission, when a person stays on the land of another when the owner tells him to depart, and when a person refuses to remove something he placed on the property that the owner of the property asked him remove.
E. None of these because a person does not commit trespass to realty unless it can be established that the person initially entered the land of another without permission.
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Which of the following gives immunity to providers of interactive computer services for liability they might otherwise incur on account of material disseminated by them but created by others?
A. The Internet Communications Act of 2000.
B. The Interactive Computer Services Protection Act of 2004.
C. The Communications Decency Act of 1996.
D. The Internet Communications Protection Act of 1998.
E. The Blog Protection Act of 2001.
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Robby calls Bobby on the telephone and threatens to come over and break his nose. Which of the following is true?
A. Robby's conduct constitutes a battery.
B. Robby's conduct constitutes an assault.
C. Robby's conduct constitutes both a battery and an assault.
D. Robby's conduct does not constitute an assault because there is no question of immediate bodily harm.
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In which of the following is a category into which intentional torts are divided?
A. Torts against persons, property, and animals.
B. Torts against property, economic interests, and roadways.
C. Torts against persons, economic interests, and strict liability.
D. Torts against persons, property, and economic interests.
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Which of the following is true regarding the intent needed for an intentional tort?
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C. The intent at issue is intent to harm that results in an injury, physical or economic, to another.
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Define the term "criminal fraud" and discuss the three elements generally involved in establishing criminal fraud.
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List the elements the government must prove in order to establish bribery of a public official under the federal statute criminalizing that offense.
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A. felony
B. misdemeanor
C. petty
D. absolute
E. strict liability
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B. False entry
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Federal laws include rules passed by federal administrative agencies.
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Congress has the power to enact legislation, but the president can veto a law that Congress passes.
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The U.S. Constitution allocates power of the federal government between the executive and judiciary branches.
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Which of the following are rules regarding the internal operations of an agency?
A. Procedural
B. Interpretive
C. Legislative
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Which type of agency is generally defined as any body created by the legislative branch to carry out specific duties?
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C. A quasi-legal agency
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C. decision making.
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Set forth the steps involved in formal rule making.
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A. enabling
B. authorization
C. enforcement
D. dedicated
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A. Enabling legislation
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DUI Charge. Monique was licensed to train massage therapists. A new federal agency, the Aesthetic and Massage Commission, took very seriously its role of enforcing the statute enabling the Commission to do its work and providing that licensed massage therapists must refrain from "any act or conduct indicating bad faith, incompetence, dishonesty, or improper dealing." Monique, while driving home late one night from a party, was stopped by the police and arrested for driving under the influence of alcohol. She pled guilty to the offense. When the Aesthetic and Massage Commission discovered the offense, the officials of the agency met, decided that Monique might drink on the job, and that she might pose a danger to students. Accordingly, her license to teach massage therapy was revoked. Monique threatened to sue to retain her license and was told by the agency head that she had no right to appeal to court because of the nature of the Aesthetic and Massage Commission and that in any event, action by an agency is always upheld. Which of the following would have reached the decision at her hearing before the administrative agency?
A. An adjudicative law judge
B. An administrative law judge
C. A federal court judge
D. A superior court judge
E. A jury
Q:
DUI Charge. Monique was licensed to train massage therapists. A new federal agency, the Aesthetic and Massage Commission, took very seriously its role of enforcing the statute enabling the Commission to do its work and providing that licensed massage therapists must refrain from "any act or conduct indicating bad faith, incompetence, dishonesty, or improper dealing." Monique, while driving home late one night from a party, was stopped by the police and arrested for driving under the influence of alcohol. She pled guilty to the offense. When the Aesthetic and Massage Commission discovered the offense, the officials of the agency met, decided that Monique might drink on the job, and that she might pose a danger to students. Accordingly, her license to teach massage therapy was revoked. Monique threatened to sue to retain her license and was told by the agency head that she had no right to appeal to court because of the nature of the Aesthetic and Massage Commission; and that, in any event, action by an agency is always upheld. Which of the following is true regarding the statement of the agency that Monique had no right to appeal to court?
A. The agency representative was wrong; and if Monique cannot resolve the issue within the agency, she may appeal to court for judicial review.
B. Because the agency was set up to protect the safety of the public, the agency representative is correct unless Monique can establish that she entered into a separate contractual arrangement with the agency when she was hired that gave her the right to appeal decisions to court.
C. Further information is needed regarding whether the agency was an executive agency or an independent agency because while actions of an independent agency may be appealed to court, actions of an executive agency may not be appealed to court.
D. Further information is needed regarding whether the agency was an executive agency or an independent agency because while actions of an executive agency may be appealed to court, actions of an independent agency may not be appealed to court.
E. Because the agency was set up to protect the safety of the public, the agency representative is correct; and Monique has no right to a court action and no right to enter into a contractual agreement with the agency regarding appeal rights.