Test your basic knowledge |

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. Any source of law that a court must follow when deciding a case. This includes constitutions - statues - and regulations - that govern the issue being decided - as well as previous court decisions in the same jurisdiction.






2. The obligation of organization management to make decisions and take actions that will enhance the welfare and interests of society as well as the organization






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






4. A clause in a contract providing for arbitration of disputes arising under the contract






5. 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






6. A major provider of arbitration services






7. A form of alternative dispute resolution in which a neutral third party evaluates the strengths and weakness of the disputing parties' positions; the evaluator's opinion forms the basis for negotiating a settlement.






8. Torts committed via the internet






9. A final judgment for one side in a lawsuit without trial when a judge finds based on pleadings - affidavits - and depositions that there is no genuine factual issue in the lawsuit






10. Enforcable rules governing relationships among individuals and between individuals and thier society.






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






12. A body of rulings made by judges that become part of a nation's legal system






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






14. Set of books containing published court decisions






15. Statements made by the plaintiff and the defendant in a lawsuit that detail the facts - charges - and defenses involved in the litigation. The complaint and answer are part of the pleadings.






16. Claims






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






18. 1. That the defendant owed a duty of care to the plaintiff. 2. The the defendant breached that duty. 3. That the defendant's breach caused the plaintiff's injury. 4. That the defendants breach caused the plaintiff's injury and that injury was forseea






19. An example that is used to justify similar occurrences at a later time






20. Is the cause that immediately and directly results in a specific event. if a person can eleminate any one of the 4 elemants - the lawsuit will not be successful.






21. The publication of false information about another's product - alleging that it is not what its seller claims.






22. 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






23. 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






24. Right to bear arms






25. Formal chancery courts - grant unique remedies. These remedies include specific performance - injunction and rescission.






26. A motion asserting that the trial was so fundamentally flawed (because of error - newly discovered evidence - prejudice - or another reason) that a new trial is necessary to prevent a miscarriage of justice.






27. Law concerned with private wrongs against individuals






28. A doctrine by which equitable relief is denied to one who has waited TOO long to seek relief






29. Someone who petitions a court for redress of a grievance or recovery of a right






30. Need a set of laws so that commerce is possible; can't have different laws in every state for business. Uniform Commercial Code. Uniform Partnernship Act. Most states adopt them but not in the exact same form






31. Statutes adopted in many states that impose strict liability upon tavern owners for injuries to third parties caused by their intoxicated patrons






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






33. Jurisdiction that exists when a case can be heard only in a particular court or type of court.






34. A computer program that is designed to block access to certain Web sites based on their content. The software blocks the retrieval of a site whose URL or key words are on a list within the program.






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






36. 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.






37. Negate the claim of negligence(assumption of risk - superceding intervening clause)






38. 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






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






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






41. A warrant authorizing law enforcement officials to search for objects or people involved in the commission of a crime and to produce them in court






42. Everyone in the commercial chain will be liable for the defect. (manafacturer - distrubutor - retailer) *end user is not in the commercial chain.






43. 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.






44. 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.






45. (law) a pleading made by a defendant in response to the plaintiff's replication






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






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






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






49. 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






50. A system of government in which the states form a union and the sovereign power is divided between the central government and the member states