BUL 4421 EXAM PACK WITH CORRECT QUIZZES & SOLUTIONS!!

Chapter 1: Introduction to Business Law - ANSWERSChapter 1: Introduction to Business Law Relevant areas of business law applicable to human recourse management involve (4): - ANSWERS1. Agency law 2. Contracts 3. Employment and labor laws 4. Employment discrimination This type of law regulat...

Relevant areas of business law - ANSWERS1. Agency Law 2. Contracts 3. Employment and Labor Law 4. Employment Discrimination Relevant areas of business law are applicable to - ANSWERSHuman Resource Management Private Law - ANSWERSRegulates disputes between private individuals or groups Pu...

Precedent (Ch. 1) - ANSWERSJudicial decisions often include interpretations of statues and administrative regulations, as well as the reasoning they used to arrive at a decision. Such reasons relies heavily on precedent, past decisions in similar cases that guide later decisions thereby providin...

Contract - ANSWERSA promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty. Agreement - ANSWERSConsists of an offer by one party, called the offeror, to enter into a contract and an acceptance of the terms ...

Ethics - ANSWERSthe study of right and wrong behavior; knowing whether the action is fair, right, and just. Business Ethics - ANSWERSdirectors and officers owe a complex set of duties to all of their stakeholders civil liability - ANSWERSinitiated by harmed individuals or administrative agenci...

private law - ANSWERSregulates between private individuals or groups public law - ANSWERSregulates between private individuals and the government civil law - ANSWERSdefines rights and responsibilities of persons and government criminal law - ANSWERSsomeone commits act against public as a wh...

Business law applicable to HR managment - ANSWERSagency law, contracts, employment and labor law, and employment discrimination Private law - ANSWERSRegulates disputes between private individuals or groups, ex. landlord and tenant Public law - ANSWERSRegulates disputes between individuals and ...

Three sources of laws that interpret sales contracts exist: - ANSWERS1. state common law 2. the uniform commercial code, and 3. state statutory law Every state except _________ has adopted Article 2 of the UCC. - ANSWERSLouisiana. Louisiana's civil tradition is based on Code Napoleon, or the...

Intellectual Property - ANSWERSFruit of someone's mind Trademark - ANSWERSDistinctive mark, word, design, picture or arrangement used with a product that helps consumers identify the product with the producer. Interstate - ANSWERSUse of a trademark is protected under state common law. Serv...

Administrative Law - ANSWERSThe collection of rules and decisions made by administrative agencies to fill in particular details missing from constitutions and statutes. Business Law - ANSWERSThe enforceable rules of conduct that govern the actions of buyers and sellers in market exchanges. Cas...

The term "consideration" in relation to contracts involves parties acting in an ethical manner. - ANSWERSfalse The Restatement (Second) of the Law of Contracts is not actually the law itself. - ANSWERStrue Whether a contract is bilateral or unilateral depends upon what response the offeror e...

Warranty - ANSWERSan assurance by one party of the existence of a fact upon which the other party can rely 3 Items of "Implied Warranty of Title" - ANSWERS1.Good Title 2. No Liens (No Loan) 3. No infringement on intellectual property rights Holder - ANSWERSanyone who has received an instru...

The social responsibility of business consists only of the expectations employees have of employers. - ANSWERSFalse Which of the following is accurate regarding the speed and cost of ADR? - ANSWERSIt is usually faster and cheaper. A[n] ______ clause has been defined as one in which the terms ...

Contract - ANSWERS"A promise or set of promises for the breach of which the law gives a remedy or the performance of which the law is some way recognizes a duty" an agreement between two or more competent parties, to perform or refrain from performing some present or future act. Contract Law - ...