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. The resolution of disputes wit hthe assitance of organizations that offer disputesresolution services via the internet.






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






4. Three remedies known as land - items of value - or money






5. The party who appeals a decision of a lower court






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






7. (law) a pleading made by a defendant in response to the plaintiff's replication






8. 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






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






10. (law) a pleading by the defendant in reply to a plaintiff's surrejoinder






11. The idea that the goal of society should be the greatest happiness for the greatest number of its citizens






12. A response to a plaintiff's claim that does not deny the plaintiff's facts but attacks the plaintiff's legal right to bring an action. An example is the running of the statute of limitations.






13. A sum of money paid in compensation for loss or injury






14. Authority shared by both federal and state courts






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






16. A system of government in which the states form a union and the sovereign power is divided between the central government and the member states






17. The preponderance of evidence which means more likely then not.






18. Torts committed via the internet






19. 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.






20. 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






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






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






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






24. Law concerned with public wrongs against society






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






26. 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






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






28. A final judgment for one side in a lawsuit without trial when a judge finds based on pleadings - affidavits - and depositions that there is no genuine factual issue in the lawsuit






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






30. Law concerned with private wrongs against individuals






31. 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






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






33. Claims






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






35. Jurisdiction based on claims against property






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






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






38. 1. Federal statute 2. Constitution(U.S.) 3. Diversity of Citizenship($75 -000 or more)






39. 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






40. A reference to or a quotation from an authority






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






42. Negate the claim of negligence(assumption of risk - superceding intervening clause)






43. The body of laws created by legislative statutes






44. Set of books containing published court decisions






45. 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.






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






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






48. A condensed written summary or abstract






49. The location where something takes place - esp. a trial






50. 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)