SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
CLEP Introductory Business Law
Start Test
Study First
Subjects
:
clep
,
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. Employers must provide employees with up to 12 weeks of unpaid leave for a serious health condition - the birth of a child - adoption or placement with the employee of a child in foster care - or the care of a spouse - child - or parent with a seriou
Expectation damages (also known as the 'benefit of the bargain')
Pension Benefit Guaranty Corporation (PBGC)
The Family and Medical Leave Act
Bilateral contract
2. Government acts that create an agency - along with establishing it's goals - powers - and the authority to make rules and regulations regarding a specified issue.
Enabling acts
Trademark
Consequential damages
Federal Trade Commission
3. These contracts do not actually prohibit assignment - but actually prohibits delegation. Assignments will be valid unless the contract specifically states that assignment are void - which in such a case - any assignment will be treated as a breach of
Mistake
Foreign Corrupt Practices Act
Process of appealing a case through the three levels of court
Contracts that prohibit assignment
4. The principle used by courts when both parties are equally guilty of illegality - or when the party seeking restitution is more at fault than the other party
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
5. When an employer requests a sexual favor in exchange for providing an employee with some employment benefit.
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
6. A division of the FTC that seeks to educate consumers regarding their rights and assist the FTC with the enforcement of consumer protection laws.
Fair Labor Standards Act (FLSA)
Economic waste
Bureau of Consumer Protection
Commencing a lawsuit
7. It is when a jury cannot reach a consensus. As a result - there must be a new trial with a different jury.
Bilateral investment treaties
Product liability
'clear and present'
Hung jury
8. In order for a contract to be enforceable - the terms of the contract must be definite and certain. In order for a contract to be 'definite and certain' - it must contain all the essential terms (names of parties - prince - subject matter - and time
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
9. An exchange (something bought and sold - with both the good and the money changing hands) immediately executed
Restitution and rescission
Public company
Process of assignment
Executed exchange
10. When both parties are mistaken - the mistake concerns a basic assumption on which the contract was made that has material impact on performance - and the party seeking to avoid performance has not assumed the risk of the mistake. Contract is voidable
Assignee's rights
Priority of secured transactions
Mutual mistake
Social Security Act
11. It is the power to decide the type of case at issue. Federal courts do not have broad subject matter jurisdiction because they can only hear particular types of cases. Therefore - their subject matter jurisdiction results from either diversity jurisd
Subject matter jurisdiction
8-K
Chapter 7 of the Code
Inadequate warning defect`
12. The standards designed to reduce the presence of pollutants int eh air to levels that are consistent with promoting good health and preserving the environment. States must ensure that they are in compliance with such standards
Securities Exchange Act of 1934
National Ambient Air Quality Standards
Federal question jurisdiction
Condition subsequent
13. Impossibility - impracticability - or frustration of purpose. The event that caused the change in circumstances must be proved to have been unforeseen.
Export Administration Regulations (EAR)
Bilateral treaties
National Environmental Policy Act (NEPA)
Changed circumstances that allow a party to be excused from performance under the contract
14. Courts that do no have broad subject matter jurisdiction because they can only hear particular types of cases. For example - Federal courts have limited jurisdiction and do not have broad subject matter jurisdiction.
Comprehensive Environmental Response - Compensation - and Liability Act (CERCLA)
Production quotas
Limited jurisdiction
Retraction
15. Rules of ethics that govern the practice of law and the conduct of lawyers
Reliance
Legal ethics
Pregnancy Discrimination ACt
National Labor Relations Board
16. The defendant's response (admit or deny the allegations within the complaint) to a complaint. This can confirm affirmative defenses or counterclaims.
Expectation damages (also known as the 'benefit of the bargain')
Regulation A of the Securities Act
Companies that are subject to the exchange act (Reporting companies)
Answer
17. It is the opportunity for each party to present their arguments to the appellate court. However - it is not always allowed.
Misappropriation theory
Securities Exchange Act of 1934
Oral argument
Gift
18. A trust formed to dominate an industry
Deontological
Executed exchange
Monopoly
'Ffour corners'
19. He can raise any defense against the assignee that she would have been able to raise against the assignor. This is the right to offset the assignee's claim - and thus the assignee cannot be held directly liable to the assignor for the improper action
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
20. Duties that involve some personal service or skill or that would materially change the obligor's expectancy under the contract may not be delegated without the obligee's consent. When a contract prohibit assignment - then it also cannot be delegated.
Security interest
Motion to strike
Misstatement or omission
Duties that cannot be delegated
21. Place of permanent residence
Remand
Domicile
Clayton Act
Chapter 13 of the Code
22. Potential responsibility for payment of damages or other court - ordered enforcement as a result of a ruling in a lawsuit. Civil liability is not the same as criminal liability - which means 'open to punishment for a crime.'
Process of assignment
Partial or trivial breach
Tie-in agreement
Civil liability
23. When a judgement becomes permanent (which occurs when an appellant appeal is denied or the time to bring an appeal has expired). It prevents the parties from re-litigating the same action.
Group boycotts
Misrepresentation
Res judicata
Pension Benefit Guaranty Corporation (PBGC)
24. Agreements that grant an entity an exclusive right to manufacture a product within a given area. The Clayton Act prohibits such agreements. (vertical agreement)
Regulation A of the Securities Act
Secured transaction
Bona fide occupational qualification
Exclusive distributor agreements
25. Provides specific (3) categories for exemption: Rule 504 - 505 - 506
Statutory Seller
Direct damages
Res judicata
Regulation D of the Securities Act
26. When all collections by creditors must stop. This occurs when a bankruptcy proceeding is initiated.
Federal Environmental Pesticide Control Act
Automatic stay
Rule of reason
'Blue sky' laws
27. In an effort to create harmony between state laws - a group of experts create a set of laws which each state chooses to follow in whole or in part. (Ex. Uniform Commercial Code)
Hung jury
Consequentialism
Offer
Uniform Laws
28. It represents a request for the court to take some action. A motion can be filed by a defendant.
Criminal Law
Motion
Ordinances
Occupational Safety and Health Act
29. A uniform law that provides legislation for various aspects of commercial law. It has been accepted by all states except Louisiana.
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
30. When a written contract represents a full - final - and complete record of the parties' agreement. In this case - parol evidence in inadmissible.
Judicial review
Taking a contract 'out of the Statute of Frauds'
Termination of an invitation to make an offer
Complete or total integration
31. This when the evidence favoring the plaintiff's allegations is stronger than the evidence presented against her position. In a civil case - the jury must decide that the plaintiff proved her case by 'preponderance of evidence'.
General jurisdiction
Preponderance of evidence
Pretexting
Export Administration Regulations (EAR)
32. A contract entered into by a person who is intoxicated (by alcohol or drugs) is also voidable by the intoxicated person. This can be done by proving that he did not understand the nature and significance of her actions - or the other party had reason
Trademark
Procedural unconscionability
Donee beneficiary
Contract with intoxicated persons
33. When the courts' power to hear cases arising under the Constitution - federal laws - or U.S. treatises. Federal question jurisdiction is exclusive.
10-Q
Section 701 of the Securities Act
Federal question jurisdiction
The Family and Medical Leave Act
34. These are approximate damages to show the necessary amount to compensate the party if the breach had not occurred and the contract has been fully performed. Expectation damages are comprise of direct and consequential damages.
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
35. An order from the court to perform the contract pursuant of its terms. This is only does when the damage remedy is inadequate and the equitable need for such performance outweighs the burden of supervision and harm to the defendant.
Model Rules of Professional Conduct
Specific performance
'Blue sky' laws
Collective bargaining
36. An interest in property or collateral granted in order to ensure payment of a debt or obligation
Equal Pay Act (EPA)
Security interest
Petit jury
Duty to mitigate
37. Prohibits abusive and unfair debt collection practices - and imposes penalties on debt collector who engage in such practices
Fair Debt Collection Act
Priority of secured transactions
Deliberation
Effect of delegation
38. A small sign of regard. If something can be construed as token consideration because it lacks any value - then courts will find it legally insufficient.
Employment discrimination
Chapter 11 of the Code
Token consideration
Pleadings
39. When a product is incorrectly manufactured that is unreasonably dangerous to consumers. To prove that 'unreasonably dangerous' - the show that an ordinary consumer would see it that way (consumer expectation test).
Third party beneficiary
Gift
Manufacturing defect
Commercial speech
40. The promisor's failure to perform in accordance with the terms of the contract
Counterclaims
Secured transaction
Breach
Lien
41. The obligee who officially assigned over his rights
Assignor
Partial or trivial breach
Creditor beneficiary
Expectation damages (also known as the 'benefit of the bargain')
42. Offering made to purchase all or a portion of the shares of a specific company
Assignee
Tender offers
Third party beneficiary
Performance
43. A company becomes a 'public company' when it issues its securities pursuant to this registration process.
Summons
Beneficiary's rights
Vesting of beneficiary's rights
Public company
44. It is a promise stated in words - either oral or written.
Termination of an invitation to make an offer
Excuse of condition
Express contract
Concurrent conflict of interests
45. Defenses that would prevent the plaintiff from holding the defendant liable
Affirmative defenses
Bilateral contract
Voluntarily proceeding
Defined benefit plans
46. Words or actions an individual may have intended - but did not communicate
Civil liability
Subjective intent
Discovery
Partial or trivial breach
47. Treaties between two nations addressing investment concerns
Judicial review
Enabling acts
Rule 147 of the Securities Act
Bilateral investment treaties
48. Speech regarding commercial or economic activities. Congress has a broad ability to regulate commercial speech. (However - government regulations based on content are subject to strict scrutiny - meaning that they will be sustained only if they are n
Federal question jurisdiction
Mental incapacity
Commercial speech
Strict liability
49. The obligation to establish his claims first
Exclusive dealing agreement
Burden of proof
Post-trial motions
'Infants' or 'minors'
50. Established by the Export Administration Act - it provides a framework for regulating exports and issuing licenses for exports subject to controls
Export Administration Regulations (EAR)
Regulation A of the Securities Act
Contract
Bureau of Customs and Border Protection
Sorry!:) No result found.
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests