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Business Law Final Exam | 920 Questions | With Complete Solutions
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Business Law Final Exam | 920 Questions | With CompleteSolutions
"The offer must be accepted within a reasonable time." Correct
Answers Which one of the following is not a basic requirement
of an offer?
- The offer must be accepted within a reasonable time.
- The offer must be intended seriously.
- The offer must be definite and complete.
- The offer must be communicated to the offeree.
1) Administrative Laws Correct Answers rules and procedures
set up by authorized administrative agencies
1) Bill of Rights Correct Answers first ten amendments
1) Case Law Correct Answers when a court publishes its
opinion on a case, that decision may state new rules which in
turn create a new case law
1) Common Law Correct Answers unwritten foundational law
originating in England; based of doctrine of precedent
1) Ethics Correct Answers a system for deciding what is right
or wrong and what values should be; tries to create rules in
keeping with those values
1) Integrity Correct Answers brings voluntary compliance to
the law
,1) Law Correct Answers the rules and regulations made and
enforced by government that regulate the conduct of people
within a society; cannot make people do what is right, but law
has the power to punish those people who choose to do wrong
1) Precedent Correct Answers requires judges to follow an
earlier court decision when deciding a case with similar
circumstances; decisions made by higher courts are followed by
the lower courts to keep our court system equitable
1) Stare Decisis Correct Answers means "let the decision
stand"; follow the law of precedent
1) State Constitutions Correct Answers found to be more
narrow, more protective, and more restrictive than the federal
constitution; if it conflicts, may be declared unconstitutional
1) Statutory Laws Correct Answers laws passed by Congress,
state legislatures (statutes), local city councils (ordinances), or
town meetings (bylaws)
1) The Fourteenth Amendment Correct Answers requires state
governments to give their citizens the same protection and rights
that the federal government must give to its citizens
1) The Golden Rule Correct Answers "do unto others as you
would have them do unto you"
1) The Greatest Good Correct Answers ethical decisions should
be based on the theory that if the greatest number of people is
affected for the better, then the action is good; vice versa
,1) The Twenty-Sixth Amendment Correct Answers gives 18-
year-olds the right to vote
1) US Constitution --> March 4, 1789 Correct Answers the
most fundamental law because it provides the basic principles
by which the federal government operates; provides guidelines
and sets limits for the federal and state governments; describes
the functions of the various branches; total of twenty-seven
amendments
1) Voluntary Compliance Correct Answers allows individuals
to obey the laws because it is the right thing to do
2) Bribery Correct Answers giving payment or something of
value to a public official with the intent to influence his or her
public duty
2) Computer Crimes Correct Answers unauthorized access to,
use of, alteration of, or taking of another person's computer
systems or files; hackers
2) Conspiracy Correct Answers an agreement between two or
more persons to commit a crime
2) Crime Correct Answers public wrong and an offense to
society
2) Elements of a Crime Correct Answers 1. the criminal act
(must be a voluntary action)
2. the required state of mind (intention of evil or not)
, 2) Embezzlement Correct Answers the wrongful taking of
another's property by a person who has been entrusted with that
property (stealing)
2) Entrapment Correct Answers a law-abiding citizen was
induced to commit a crime by a law enforcement officer
2) Extortion Correct Answers accepting of payment or
something of value by a public official; taking advantage of
authority for money
2) Felony Correct Answers major crime; a crime punishable by
imprisonment for more than one year or by death
2) Fines Correct Answers most often used as a form of
punishment for lesser crimes such as traffic violations
2) Forgery Correct Answers the false making or changing of
writing with the intent to defraud
2) Fraud Correct Answers stealing by intentionally deceiving
the owner; terms con and con artist often linked with this crime
2) Immunity Correct Answers a criminal could be granted
immunity in exchange for an agreement to testify about the
criminal conduct of other persons
2) Insanity (Defense) Correct Answers if persons are not
capable of knowing what they are doing or are unable to control
their actions, then intent cannot be proven
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