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






2. The question of whether an issue lies within the authority and jurisdiction of the arbitrator. A matter may be declared non-arbitrable either because certain steps - timetables and procedures have not been followed prior to submitting it to arbitrati






3. The act of changing location from one place to another






4. Liability without fault. (Strict product liability)






5. The government may not house soldiers in private homes without consent of the owner






6. Contracts - Sales - Negotiable instruments - creditos rights - intellectual property - e-commerce - product liability - torts - agency - business organizations - professional liability - courts and court procedures.






7. The body of laws created by legislative statutes






8. Use deductive reasoning to identify relevant legal rules - applying those rules to to the facts of the case and drawing a conclusion.






9. An amendment to the Constitution of the United States that imposes restrictions on the government's prosecution of persons accused of crimes






10. Contains the courts reasons for its decision - the rules of law that apply - and the judgement






11. Adj. from the Latin 'against or about a thing -' referring to a lawsuit or other legal action directed toward property - rather than toward a particular person. Thus - if title to property is the issue - the action is 'in rem.' The term is important






12. A system that allows each branch of government to limit the powers of the other branches in order to prevent abuse of power






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






14. (law) negligence allocated between the plaintiff and the defendant with a corresponding reduction in damages paid to the plaintiff






15. (law) the right and power to interpret and apply the law






16. (law) compensation in excess of actual damages (a form of punishment awarded in cases of malicious or willful misconduct)






17. A basis for federal court jurisdiction over a lawsuit between (1) citizens of different states (2) a foreign country and citizens of a state of of different states - or (3) citizens of a state and citizens or subjects of a foreign country. The amount






18. Logical formula consisting of a major premise - a minor premise and a conclusion; deceptive or specious argument






19. When the matter is between private parties the constitution laws do not apply. Between individuals and government organizations then constitutional laws apply.






20. 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






21. Drawing a comparison in order to show a similarity in some respect






22. Set of books containing published court decisions






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






24. The powers not delegated to the United States by the Constitution - nor prohibited by it to the states - are reserved to the states respectively - or to the people.






25. Motion to dismiss - motion for judgment on the pleadings - motion of summary judgement(amont others - motion to strike - motion to make more definite and certain - motion for judgement on the pleadings - motion to compel discovery - motion for summar






26. The First Amendment guarantee that the government will not create and support an official state church






27. Assumption of risk - Superseding cause - and contributory and comparative negligence.






28. A rule or body of rules of conduct inherent in human nature and essential to or binding upon human society






29. 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.






30. 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.






31. A legal proceeding in a court






32. A judgment entered in favor of the plaintiff when the defendant defaults (fails to appear in court)






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






34. Inherent powers of state governments to pass laws to protect the public health - safety - and welfare; the national government has no directly granted police powers but accomplishes the same goals through other delegated powers.






35. An ethical principle that holds that you should never take any action that infringes on others; agreed-upon rights






36. A condensed written summary or abstract






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






38. Propositions or general statements of equitable rules






39. An economically injurious falsehood made about another's product or property; a general term for torts that are more specifically referred to as slander of quality or slander of title.






40. 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






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






42. Jurisdiction based upon claims against a person - in contrast to jurisdiction over the person's property






43. Law concerned with private wrongs against individuals






44. The party who appeals a decision of a lower court






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






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






47. A common law writ issued by a superior court to one of inferior jurisdiction demanding the record of a particular case






48. A statement of fundamental rights and privileges (especially the first ten amendments to the United States Constitution)






49. A defendant's answer or plea denying the truth of the charges against him






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






Can you answer 50 questions in 15 minutes?



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