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. A school of legal thought that views the law as a tool for promoting justice in society.






2. Law concerned with public wrongs against society






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






4. A condensed written summary or abstract






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






6. 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






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






8. 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.






9. A defendant's answer or plea denying the truth of the charges against him






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






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






12. The obligation of organization management to make decisions and take actions that will enhance the welfare and interests of society as well as the organization






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






14. 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






15. 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.






16. Law that involves the interpretation and application of the U.S. Constitution and state constitutions






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






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






19. A question that had to do with the US Constitution - acts of Congress - or treaties; it provides a basis for federal jurisdiction






20. Formal chancery courts - grant unique remedies. These remedies include specific performance - injunction and rescission.






21. An argument made after the plaintiff and defendant have rested their cases. Closing arguments are made prior to the jury charges.






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






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






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






25. Right to bear arms






26. Violation of a law - duty - or other form of obligation - either by engaging in an action or failing to act






27. A reasoning process in which an individual links his or her moral convictions or ethical standards to the particular situation at hand.






28. 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






29. Motion to dismiss - motion for judgment on the pleadings - motion of summary judgement(amont others - motion to strike - motion to make more definite and certain - motion for judgement on the pleadings - motion to compel discovery - motion for summar






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






31. To confirm priestly authority upon






32. 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






33. 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.






34. 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






35. State statute that permits a state to obtain personal jurisdiction over nonresident defendants






36. A brief outline of what the defendant and the plaintiff will try to prove.






37. A rule or body of rules of conduct inherent in human nature and essential to or binding upon human society






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






39. 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.






40. 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.






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






42. 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






43. Authority shared by both federal and state courts






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






45. A question asked to determine what is true or to what extent something is true






46. The body of laws created by legislative statutes






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






48. (law) behavior by the plaintiff that contributes to the harm resulting from the defendant's negligence






49. Right to a trial by jury






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