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






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






3. A major provider of arbitration services






4. 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






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






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






7. 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.






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






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






10. 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






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






12. Set of books containing published court decisions






13. Authority shared by both federal and state courts






14. Doctrine under which a person cannot recover for injuries received from a dangerous activity to which she voluntarily exposed herself






15. 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






16. The publication of a statement that denies or casts doubt on another's legal ownership of any property - causing financial loss to that property's owner.






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






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






19. 1. Resident 2. (while within boundaries of state) 3. Long arm statue.






20. 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.






21. 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






22. 1066 in Britain - King William implemented this uniform legal system. He sent judges out to make rulings on cases - thus creating precedents. 1225 - the signing of the Magna Carta established the rule of law in England






23. 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.






24. 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.






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






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






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






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






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






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






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






33. Judges must abide by precedents in thier jurisdictions.






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






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






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






37. To be on the land of another without right or permission of the owner






38. A warrant authorizing law enforcement officials to search for objects or people involved in the commission of a crime and to produce them in court






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






40. 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.






41. 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






42. Torts committed via the internet






43. To confirm priestly authority upon






44. The branch of philosophy concerned with the law and the principles that lead courts to make the decisions they do






45. A legal proceeding in a court






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






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






48. Right to a trial by jury






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






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