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. The unlawful taking or harming of another's personal property; interference with another's right to the exclusive possession of his or her personal property.






2. 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






3. 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






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






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






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






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






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






9. The publication of false information about another's product - alleging it is not what its seller claims; also referred to as slander of quality.






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






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






12. 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.






13. 1. employee activity within scope of employment 2. employee is negligent






14. The idea that the goal of society should be the greatest happiness for the greatest number of its citizens






15. 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.






16. State statute that permits a state to obtain personal jurisdiction over nonresident defendants






17. 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






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






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






20. 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






21. 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.






22. 1. Federal statute 2. Constitution(U.S.) 3. Diversity of Citizenship($75 -000 or more)






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






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






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






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






27. To be on the land of another without right or permission of the owner






28. 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






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






30. Liability without fault. (Strict product liability)






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






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






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






34. 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






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






36. A controversey that is not hypotheical or academic but real and substansial; a requirement the must be satisfied before a court will hear a case






37. 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.






38. A question asked to determine what is true or to what extent something is true






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






40. 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.






41. Law concerned with public wrongs against society






42. Excessive bail shall not be required - nor excessive fines imposed - nor cruel and unusual punishments inflicted.






43. Requirement that a case can only be heard by the Supreme Court if four justices vote to hear the case






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






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






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






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






48. The power to speak the law.






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 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.