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






2. A motion made by a party - during trial - claiming the opposing party has insufficient evidence to reasonably support its case






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






4. 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.






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






6. 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






7. A major provider of arbitration services






8. 14th amendment clause that prohibits states from denying equal protection under the law - and has been used to combat discrimination






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






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






11. 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.






12. Right to bear arms






13. An act or omission without which an event would not have occurred.






14. Relieve you of some liability when reasonable care is used






15. Emphasizes the evolutionary process of law by concentrating on the origin and history of the legal system






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






17. 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.






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






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






20. 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.






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






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






23. The publication of a statement that denies or casts doubt on another's legal ownership of any property - causing financial loss to that property's owner.






24. 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.






25. Occurs when one party to a contract is not given full or accurate information by the other party about the contract subject matter - Intentional misrepresentation of material fact - reasonably relied on by plaintiff resulting in damages






26. 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






27. Right to a trial by jury






28. 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






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






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






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






32. The body of rules and regulations and orders and decisions created by administrative agencies of government






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






34. 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.






35. 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.






36. Specific length of time an individual can sue for injury resulting from negligence






37. Liability without fault. (Strict product liability)






38. The clause in the Constitution (Article I - Section 8 - Clause 1) that gives Congress the power to regulate all business activities that cross state lines or affect more than one state or other nations.






39. 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






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






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






42. 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.






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






44. Jury selection process of questioning prospective jurors - to ascertain their qualifications and determine any basis for challenge.






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






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






47. 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






48. Jurisdiction based on claims against property






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






50. Highest official of a monarch. Granted new an unique remedies.