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CLEP Introductory Business Law

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. The obligation to establish his claims first






2. Protection of communications between an attorney and her client. Neither party is compelled to disclose such communications to the court. Only the client can waive the privilege.






3. When the jury retires to a separate room to decide the outcome of the case.






4. The defendant intended the product to cause harm or know that it was likely to occur. The defendant's conduct fell below the appropriate standard of care. Qualifies as negligence - because the defendant is a supplier because he has a duty. The defend






5. It is the right to receive notice of any actions that would deprive a person of life - liberty - or property - and allows for the person to have the opportunity to present a case in a fair procedure before a neutral decision-maker. A clause found in

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6. Impossibility - impracticability - or frustration of purpose. The event that caused the change in circumstances must be proved to have been unforeseen.






7. An exemption for certain small offerings






8. Prohibit discrimination based on pregnancy or childbirth






9. Congress may prohibit speech that has a 'clear and present' danger of inciting violence or other 'substantive evil'.

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10. 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.'






11. Defenses that would prevent the plaintiff from holding the defendant liable






12. A trivial defect in performance (the opposite of material breach).






13. In order for a court to hear a case - it must have both subject matter jurisdiction and personal jurisdiction.






14. Prevents discrimination against employees who are 40years old or more






15. Enacted in 1969 to protect the environment from the actions of public or private actors. It declared a policy and promoted efforts to prevent or eliminate environmental damage. It also ensures that public and private actors better understand the ecol






16. It is a duty that a person is already obligated to perform. The promise to perform a pre-existing duty is not a legal detriment. However - a legal detriment will exist if one promises to a performance that is different from the pre-existing duty - o






17. An agreement of when the promisee agree to accept different performance from the original promisor in exchange for a release of the original agreement. However - the original obligation is not discharged until there has been satisfaction.






18. (A form of consequentialism) It is the belief that an action is justified as long as it does the greatest good for the greatest number of people (Advocators: Jeremy Bentham and John Stuart Mill)






19. Directors - certain officers - and owners






20. 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.

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21. When a party takes back his repudiation and agrees to perform under the contract. Retraction is not valid if the non-repudiating party has materially changed her position in reliance on teh repudiation - or indicated her willingness to treat the repu






22. Agreements between competitors to set particular prices for their products (a horizontal agreement)






23. Where social security benefits are funded by taxes levied on both employers and employees. Employers pay half of the benefits and the employers pay the other half.






24. It represents a request for the court to take some action. A motion can be filed by a defendant.






25. The other party to the contract with the oblige - and who is signaling her obligation to the assignee.






26. The EPA was established to oversee pollution control efforts. It is charged with working with federal - state - and local official to protect the national environment and provide guidance towards effective policies - and sets standards for environmen






27. Punitive damage - non-economic damages - and attorneys' fees






28. Discrimination based on race or sex






29. The debtor's right to recover his property by paying the full amount of the debt - as well as any costs incurred by the creditor






30. (Model Rules) The American Bar Association's model rules that most states base their own ethical rules for lawyers practicing within their state






31. The primary doctrine used to substitute for consideration is promissory estoppel or detrimental reliance. Under that doctrine - a promise will be enforced without consideration under the following conditions: (a) The promisor should reasonably expect






32. A federal statute that prohibits trademark infringement and imposes penalties on those who engage in infringing behavior






33. 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.






34. The government has the right to take property. This power is limited in that the property has to be for public use - and that the owner must receive just compensation.

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35. Regulates air and water pollution as well as address problems associated with certain toxic substances






36. Model Business Corporations Act and the Uniform Partnership Act of 1914 - which was superceded by the Uniform Partnership Act of 1984






37. Required to establish a security interest. Attachment occurs when the parties agree to create a security interest (security agreement) - put it in writing and signed by the debtor - the creditor provides money or some other form of consideration for






38. Inadequate warning of danger - which can be construed as a design defect






39. Exceptions to the writing contract in the Statute of Frauds. This is when: (a) a party admits in a pleading/testimony in court - that a contract was made - the contract is enforceable against the party to the extent of the admission - (b) performance

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40. When the debtor voluntarily initiates the bankruptcy proceedings






41. The creditor's security interest in real property






42. The court reviews the...1) Express words and conduct of the party 2) Course of performance 3) Course of dealing (conduct of parties before the transaction 4) Trade usage






43. 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).






44. The defendant's response (admit or deny the allegations within the complaint) to a complaint. This can confirm affirmative defenses or counterclaims.






45. Oversees implementation of this benefit program of the Social Security Act






46. A situation in which replacement or completion costs are significantly disproportionate to the actual harm caused by the breach






47. It focuses on the clean up of abandoned or historical hazardous waste sites - for which it established a 'Superfund'. The EPA (Environmental Protection Agency) identifies particularly egregious sites and places them on a National Priorities List. The






48. A uniform law that provides legislation for various aspects of commercial law. It has been accepted by all states except Louisiana.

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49. 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

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50. Prohibits institutions from discrimination related to credit applications