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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. 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.






2. 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






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






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






5. 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






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






7. Claims






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






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






10. 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.






11. Right to bear arms






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






13. Use deductive reasoning to identify relevant legal rules - applying those rules to to the facts of the case and drawing a conclusion.






14. 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






15. On the premises fr the potential financial benefit of the occupier






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






17. 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






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






19. 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






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






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






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






23. The party against whom legal action is taken; the party against whom a writ of certiorari is sought.






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






25. 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






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






27. Law concerned with public wrongs against society






28. Contains the courts reasons for its decision - the rules of law that apply - and the judgement






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






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






31. An economically injurious falsehood made about another's product or property; a general term for torts that are more specifically referred to as slander of quality or slander of title.






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






33. A computer program that is designed to block access to certain Web sites based on their content. The software blocks the retrieval of a site whose URL or key words are on a list within the program.






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






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






36. A basis for federal court jurisdiction over a lawsuit between (1) citizens of different states (2) a foreign country and citizens of a state of of different states - or (3) citizens of a state and citizens or subjects of a foreign country. The amount






37. A major provider of arbitration services






38. 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






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






40. The course of action the government takes in response to an issue or problem as deemed by widely held belief.






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






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






43. A reference to or a quotation from an authority






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






45. (civil law) the first pleading of the plaintiff setting out the facts on which the claim for relief is based






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






47. Wrongs






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






49. 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






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