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Business Law Test

Subjects : law, business-law
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. If the injured party can be made whole by receiving something of economic value - the remedy is a legal remedy [damages] - if a remedy at law is inadequate - a litigant may seek a remedy in equity - which involves notions of fair dealing and justice






2. A court will award money or other relief to a party injured by a breach of contract






3. A brief outline of what the defendant and the plaintiff will try to prove.






4. A federal - state - or local government unit established to perform a specific function. Administrative agencies are created and authorized by legislative bodies to administer and enforce specific laws.






5. A school of legal thought centered on the assumption that there is no law higher then the laws created by the government. Laws must be obeyed - even if they are unjust - to prevent anarchy.






6. 1066 in Britain - King William implemented this uniform legal system. He sent judges out to make rulings on cases - thus creating precedents. 1225 - the signing of the Magna Carta established the rule of law in England






7. Torts committed via the internet






8. Jurisdiction based on claims against property






9. Economic model that compares the marginal costs and marginal benefits of a decision






10. A major provider of arbitration services






11. A reasoning process in which an individual links his or her moral convictions or ethical standards to the particular situation at hand.






12. In litigation - the amount of monetary compensation awarded to a plaintiff in a civil lawsuit as damages. In the context of alternative dispute resolution - the decision rendered by an arbitrator.






13. (civil law) a law established by following earlier judicial decisions






14. (accident - breach of contract - or other event) > Party consults with Attorney(Initial client interview - signing of retainer agreement) > Informal investigation > Plaintiffs attorney files complaint > Defendant attorney files answer to complaint or






15. The enumeration in the Constitution - of certain rights - shall not be construed to deny or disparage others retained by the people.






16. A sum of money paid in compensation for loss or injury






17. A routine court order that attempts to enforce the judgment that has been granted to a plaintiff by authorizing a sheriff to carry it out






18. The courts that awarded compensation back in English Realm






19. (law) evidence sufficient to warrant an arrest or search and seizure






20. Protects you from unreasonable search and seizure of your home and property






21. A nonbinding process in which attorneys for both sides present synopses of their cases to a jury - which renders an advisory opinion on the basis of these presentations






22. Questioning of a witness during a trial or during the taking of a deposition - by the party opposed to the one who produced the witness.






23. A rule of evidence whereby the negligence of an alleged wrongdoer can be inferred from the fact that the accident happened






24. An informal term used to refer to all laws governing electronic communications and transactions - particularly those conducted via the Internet.






25. Precedents are determined under stare decisis. Courts of law and courts or equity have been combined.






26. The party against whom legal action is taken; the party against whom a writ of certiorari is sought.






27. Based on the idea that law is just one of many institutions in society and that it is shaped by social forces and needs






28. Doctrine under which a person cannot recover for injuries received from a dangerous activity to which she voluntarily exposed herself






29. Private proceeding in which each party to a dispute argues its position before the other side - and vice versa. A neutral third party may be present and act as an adviser if the parties fail to reach an agreement






30. Claims






31. The First Amendment guarantee that citizens may freely engage in the religious activities of their choice






32. The principle pleading by the defendant in response to plaintiff's complaint






33. Evidence tending to make a fact at issue in the case more or less probable than it would be without the evidence. Only relevant evidence is admissible in court.






34. A condensed written summary or abstract






35. A question that had to do with the US Constitution - acts of Congress - or treaties; it provides a basis for federal jurisdiction






36. The reasoning process used by judges in deciding what law applies to a given dispute and then applying that law to the specific facts or circumstances of the case






37. The power to speak the law.






38. No State can draw unreasonable distinctions between its own residents and those persons who happen to live in other States






39. 1. Resident 2. (while within boundaries of state) 3. Long arm statue.






40. The body of conventional - or written - law of a particular society at a particular point in time.






41. Previously decided cases that are as similar as possible to the one under consideration






42. A response to a plaintiff's claim that does not deny the plaintiff's facts but attacks the plaintiff's legal right to bring an action. An example is the running of the statute of limitations.






43. Federal regulatory agencies that are independent - thus not fully under the power of the president. Ex. Federal Trade Commission - Securities and Exchange Commission.






44. Any testimony given in court about a statement made by someone else who was not under oath at the time of the statement






45. (civil law) the first pleading of the plaintiff setting out the facts on which the claim for relief is based






46. In a lawsuit - an issue involving the application or interpretation of a law. Only a judge - not a jury - can rule on questions of law.






47. Clause in the Constitution (Article IV - Section 1) requiring each state to recognize the civil judgments rendered by the courts of the other states and to accept their public records and acts as valid






48. Rules governing the admissibility of evidence in trial courts.






49. Is strict liability hold a claim if the product or service in question is...






50. In order to bring a lawsuit before a court a party must have a sufficient 'stake' in a matter to justify seeking relief through the court system