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. 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






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






3. 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.






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






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






6. 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






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






8. A legal proceeding in a court






9. 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






10. The moral principle that behavior should be determined by duty - A concept developed by the philosopher Immanuel Kant as an ethical guideline for behavior. In deciding whether an action is right or wrong a person should evaluate the action in terms o






11. In order to bring a lawsuit before a court a party must have a sufficient 'stake' in a matter to justify seeking relief through the court system






12. Any source of law that a court must follow when deciding a case. This includes constitutions - statues - and regulations - that govern the issue being decided - as well as previous court decisions in the same jurisdiction.






13. Law concerned with public wrongs against society






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






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






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






17. The act of delivering a writ or summons upon someone






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






19. Drawing a comparison in order to show a similarity in some respect






20. The First Amendment guarantee that citizens may freely engage in the religious activities of their choice






21. Jury selection process of questioning prospective jurors - to ascertain their qualifications and determine any basis for challenge.






22. The act of changing location from one place to another






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






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






25. Judges must abide by precedents in thier jurisdictions.






26. The unlawful taking or harming of another's personal property; interference with another's right to the exclusive possession of his or her personal property.






27. Ethical or unethical behaviors by employees in the context of their jobs






28. 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.






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






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






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






32. Jurisdiction based on claims against property






33. The question of whether an issue lies within the authority and jurisdiction of the arbitrator. A matter may be declared non-arbitrable either because certain steps - timetables and procedures have not been followed prior to submitting it to arbitrati






34. 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






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






36. (law) compensation in excess of actual damages (a form of punishment awarded in cases of malicious or willful misconduct)






37. Law concerned with private wrongs against individuals






38. Propositions or general statements of equitable rules






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






40. A claim filed in opposition to another claim in a legal action






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






42. 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






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






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






45. 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






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






47. Excessive bail shall not be required - nor excessive fines imposed - nor cruel and unusual punishments inflicted.






48. A routine court order that attempts to enforce the judgment that has been granted to a plaintiff by authorizing a sheriff to carry it out






49. Claims






50. 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