CBA Business Law & Regulatory Compliance Flashcards
6 cards from real CBA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 CBA Business Law & Regulatory Compliance flashcards as text
A business operating in multiple states must typically register as a 'foreign' entity in each state where it:
Answer: Conducts substantial business activities (transacts business)
States require foreign qualification when a business 'transacts business' within the state, which generally means maintaining a physical presence, employees, or significant ongoing activities there.
Under OSHA's General Duty Clause, employers are required to:
Answer: Furnish a workplace free from recognized hazards likely to cause death or serious harm
The General Duty Clause (Section 5(a)(1) of the OSH Act) requires employers to provide a workplace free from recognized hazards, even when no specific OSHA standard addresses that hazard.
When a business sells goods, the Uniform Commercial Code (UCC) implies which warranty unless expressly disclaimed?
Answer: Implied warranty of merchantability
The UCC automatically implies a warranty of merchantability in sales of goods by merchants, meaning the goods are fit for their ordinary purpose, unless properly disclaimed.
Which federal law governs the collection of debts and prohibits abusive, deceptive, or unfair debt collection practices?
Answer: Fair Debt Collection Practices Act (FDCPA)
The FDCPA regulates third-party debt collectors and prohibits practices such as harassment, false statements, and unfair collection tactics when collecting consumer debts.
A business advisor helping a client structure a partnership should advise that without a written partnership agreement, disputes will be governed by:
Answer: The Uniform Partnership Act (UPA) default rules of the state
In the absence of a written partnership agreement, the Uniform Partnership Act as adopted by the state governs the relationship, which may not reflect the partners' actual intentions.
A 'force majeure' clause in a business contract most commonly excuses performance when:
Answer: Extraordinary events beyond a party's control prevent performance
Force majeure clauses excuse contractual non-performance caused by extraordinary, unforeseeable events — such as natural disasters, war, or pandemics — that are beyond the party's reasonable control.