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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. 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






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






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






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






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






6. Handle only bankruptcy proceedings - which are governed by federal bankruptcy law






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






8. The constitutional amendment designed to protect individuals accused of crimes. It includes the right to counsel - the right to confront witnesses - and the right to a speedy and public trial.






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






10. Right to bear arms






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






12. Enforcable rules governing relationships among individuals and between individuals and thier society.






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






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






15. A common law writ issued by a superior court to one of inferior jurisdiction demanding the record of a particular case






16. 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






17. The party who appeals a decision of a lower court






18. Based on the idea that law is just one of many institutions in society and that it is shaped by social forces and needs






19. 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






20. (law) the right and power to interpret and apply the law






21. 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.






22. The courts that awarded compensation back in English Realm






23. 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






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






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






26. 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.






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






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






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






30. 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






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






32. An order to appear in person at a given place and time






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






34. 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






35. A system that allows each branch of government to limit the powers of the other branches in order to prevent abuse of power






36. 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.






37. 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






38. 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.






39. A condensed written summary or abstract






40. Statements made by the plaintiff and the defendant in a lawsuit that detail the facts - charges - and defenses involved in the litigation. The complaint and answer are part of the pleadings.






41. (law) evidence sufficient to warrant an arrest or search and seizure






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






43. The body of laws created by legislative statutes






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






45. 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






46. 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.






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






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






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






50. 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