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






2. 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






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






4. The body of laws created by legislative statutes






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






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






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






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






9. Courts that handle cases that involve less than $5000






10. 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






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






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






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






14. 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






15. 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.






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






17. State courts that handle only matters relating to the transfer of a person's assets and obligations after that person's death - including issues relating to custody and guardianship of children






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






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






20. 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.






21. 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






22. Automotic appeal based on procedure/law. appeal cannot be made on a error of fact. Car accident example. procedure - wrong court date. law - issue of law is wrong. U.S. Supreme Court appeal is still possible with permission(write of certerori)






23. 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.






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






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






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






27. The rules governing the manner in which civil cases are brough in and progress through the federal courts






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






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






30. The branch of philosophy concerned with the law and the principles that lead courts to make the decisions they do






31. 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






32. (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






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






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






35. 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






36. 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.






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






38. A claim filed in opposition to another claim in a legal action






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 reference to or a quotation from an authority






41. In a jury trial - a motion for the judge to take the decision out of the hands of the jury and to direct a verdict for the party who filed the motion on the ground that the other party has not produced sufficient evidence to support her or his claim.






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






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






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






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






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






47. Law concerned with public wrongs against society






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






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






50. 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