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 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.






2. Discussion with a view to reaching agreement; talking about a conflict where both parties give and take to reach a resolution - without attorneys.






3. Claims






4. 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






5. Law concerned with private wrongs against individuals






6. The courts that awarded compensation back in English Realm






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






8. An informal term used to refer to all laws governing electronic communications and transactions - particularly those conducted via the Internet.






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






10. 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






11. 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.






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






13. 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






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






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






16. 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.






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






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






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






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






21. Party who defends an appeal






22. The process by which the parties in a dispute submit their difference to the judgment of an impartial person or group appointed by mutual consent






23. The power to speak the law.






24. 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






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






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






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






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






29. 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






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






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






32. The publication of false information about another's product - alleging it is not what its seller claims; also referred to as slander of quality.






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






34. Torts committed via the internet






35. The body of laws created by legislative statutes






36. 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.






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






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






39. A reference to or a quotation from an authority






40. 14th amendment clause that prohibits states from denying equal protection under the law - and has been used to combat discrimination






41. Inherent powers of state governments to pass laws to protect the public health - safety - and welfare; the national government has no directly granted police powers but accomplishes the same goals through other delegated powers.






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






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






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






45. Judges must abide by precedents in thier jurisdictions.






46. 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






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






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






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






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