What kind of transaction presents significant litigation risks?
A. Transactions that involve business rivals competing for the same market segment.
B. Transactions with important terms left ambiguous due to negligence of both parties.
C. Transactions that involve parties with utmost confidence in one another's integrity, thus not making their contract airtight.
D. Transactions undertaken between friendly business associates having long and deep friendly relationship.
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What should a counsel keep in mind when the clients are making a transaction?
A. To maximize bottom-line profits at whatever price.
B. To develop stable, last-lasting personal relationships.
C. To achieve personal loyalties for business associations.
D. To maintain a business relationship based on the corporate interests.
Which of the following is NOT the reason for America to be regarded as a highly litigious society?
A. In America, there are roughly three lawyers per thousand people.
B. American corporate culture promotes integrity and righteousness.
C. Americans interpret the ligation as the risks of business relationships.
D. The popular literature depicts the American people as a highly litigious mercenary group.
What is the lesson the corporate client often fails to appreciate?
A. What is most important for the client is to defeat the adversary in the litigation.
B. What really matters is whether it is economically worthwhile to commence the legal action.
C. A favorable settlement is more likely to be achieved between adversaries who abhor conflicts.
D. A party should be discouraged from initiating litigation unless it has sufficient evidentiary support.
Which of the following statements is NOT true about the methods of determining future litigation costs?
A. Referring to the past litigation as the benchmark for future litigation costs.
B. Making a cost assessment of future litigation costs based on prior experience.
C. Allowing local counsel to take charge of litigation services under a fee arrangement.
D. Outsourcing litigation services to local counsel who budgets for litigation costs on a long-term basis.
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