10 Questions
What is a Ponzi Scheme?
An investment fraud that pays existing investors with funds from new investors
What is the relationship between civil and criminal trials in Ponzi Schemes?
Criminal trials are for theft while civil trials deal with loss
Why are laws important for business in underdeveloped countries?
To make laws predictable and adaptable
How does ethics differ from law according to the text?
Laws regulate actions, ethics study doing what's right
'Grant 'CERT' when hear on appeal the rule of 4' refers to what in the legal context?
A requirement for US Supreme Justices to agree to grant CERT
What is the primary role of District Courts in the American judicial system?
Serve as the fact finders and apply facts at trial
What is the main difference between the 'Loser Pay' rule followed in most countries and the 'American Rule' in the USA?
In 'Loser Pay', the defendant pays the winner's attorney fees, while in the 'American Rule' each party pays their own attorney fees.
How are State Judges and Federal Judges different in terms of their selection process?
State Judges are elected, while Federal Judges are nominated by the President and confirmed by the Senate.
What is required for a case to be heard by the Supreme Court in America?
4 out of 9 Justices must vote in favor of hearing the case
What distinguishes a Justice from a Judge in the American legal system?
Justices make legal decisions based on law and evidence, while Judges interpret and apply legal precedents.
Test your knowledge on investment fraud and Ponzi schemes with questions covering topics like Ponzi schemes, fraudsters promises, criminal and civil trials, and notable cases like Benie Madoff's Ponzi Scheme.
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