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






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






3. Law concerned with private wrongs against individuals






4. 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






5. Part of the 14th Amendment which guarentees that no state deny basic rights to its people






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






7. (law) evidence sufficient to warrant an arrest or search and seizure






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






9. 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.






10. (law) the initial questioning of a witness by the party that called the witness






11. Torts committed via the internet






12. A wrongful act that the actor had no right to do






13. A major provider of arbitration services






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






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. 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






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






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






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






20. 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)






21. In a lawsuit - an issue involving the application or interpretation of a law. Only a judge - not a jury - can rule on questions of law.






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






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






24. 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






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






26. Settlement of civil disputes between parties using neutral mediators or arbitrators without going to court






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






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






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






30. 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.






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






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






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






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






35. 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.






36. A body of rulings made by judges that become part of a nation's legal system






37. 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






38. A statement of fundamental rights and privileges (especially the first ten amendments to the United States Constitution)






39. Propositions or general statements of equitable rules






40. 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






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






42. Supreme Court followed by the U.S. Court of Appeals and The highest state courts. Then followed by federal administrative agencies. U.S. District Courts - Specialized U.S. Courts(bankruptcy courts - court of Federal claims - court of international tr






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






44. A school of legal thought centered on the assumption that there is no law higher then the laws created by the government. Laws must be obeyed - even if they are unjust - to prevent anarchy.






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






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






47. 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.






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






49. A reference to or a quotation from an authority






50. (law) compensation for losses that can readily be proven to have occurred and for which the injured party has the right to be compensated