LEB 320F All Quiz Questions Latest Update Graded A+
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LEB 320F All
LEB 320F All Quiz Questions Latest
Update Graded A+
What is the primary purpose of a contract?
- To create obligations between parties
- To ensure fairness in all business dealings
- To promote goodwill between businesses
- To legally bind parties to agreed terms
Which of the followin...
LEB 320F All Quiz Questions Latest
Update Graded A+
What is the primary purpose of a contract?
- To create obligations between parties
- To ensure fairness in all business dealings
- To promote goodwill between businesses
- ✔✔ To legally bind parties to agreed terms
Which of the following is a requirement for a contract to be enforceable?
- Verbal agreement between parties
- Mutual consideration
- A written promise to fulfill
- ✔✔ Offer, acceptance, and consideration
What is the main function of tort law?
- To prevent criminal activities
- To ensure businesses follow regulations
1
,- ✔✔ To provide remedies for civil wrongs
- To enforce contracts
Which of the following best describes a fiduciary relationship?
- A relationship based on mutual respect
- ✔✔ A relationship where one party acts in the best interest of another
- A relationship bound by a contract
- A relationship focused on economic gain
What is a key element required to prove negligence?
- ✔✔ Breach of duty leading to harm
- Proof of a written agreement
- The defendant's intent to cause harm
- Mutual agreement between the parties
Which of the following is an example of intellectual property?
- A building's architectural plan
- ✔✔ A company's logo
2
,- A piece of land
- A factory machine
What is the primary function of administrative law?
- To enforce criminal codes
- ✔✔ To regulate the operation and procedures of government agencies
- To oversee corporate mergers
- To manage personal disputes between individuals
Which of the following best defines strict liability?
- Liability based on negligence
- ✔✔ Liability without the need to prove fault
- Liability only in contractual obligations
- Liability that requires criminal intent
What is the role of a mediator in dispute resolution?
- To impose a legally binding decision
- ✔✔ To facilitate negotiations and help parties reach a settlement
3
, - To represent one party in a negotiation
- To enforce a court judgment
Which of the following is an advantage of arbitration over litigation?
- ✔✔ Arbitration is generally faster and less costly
- Arbitration allows for public trials
- Arbitration decisions can be easily appealed
- Arbitration involves a jury
What is the legal term for the person who initiates a lawsuit?
- ✔✔ Plaintiff
- Defendant
- Witness
- Arbitrator
Which of the following is an example of a unilateral contract?
- A contract for the sale of real estate
- A contract where both parties exchange promises
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