Business Law

Business Law FBLA questions with answers graded A+Acceptance - correct answer The second party's unqualified willingness to go along with the first party's proposal Accord and Satisfaction - correct answer A legal way to settle contractual disputes by which one party agrees to accept less than the amount due as full payment Actual Authority - correct answer The real power a principal gives to an agent Actual Notice - correct answer A formal notice given directly to a party, usually us...

Business Law: FINAL EXAM Study Guide/passedconstitution - correct answer The document that sets forth the framework of a government and its relationship to the people it governs. Common law - correct answer based upon the current standards or customs of the people. positive law - correct answer Law that is dictated from above by a sovereign or other central authority business ethics - correct answer Ethical principles used in making business decisions Guidelines - correct answer Laws...

Business Law Final Exam questions with correct answersOne type of punishment in a criminal case is that the defendant who is held liable must pay a fine to the government. - correct answer True All schools of jurisprudence assert that the law is one thing and morality is another, and that we should obey even bad laws. - correct answer False Business 201 is composed of two parts or components. These components are: - correct answer A Lecture taught by two different professors and a Discussi...

Business Law Flashcards with correct answersAdministrative Agencies - correct answer commissions or boards that have the power to regulate particular matters or implement laws Antitrust Laws - correct answer laws designed to prevent an individual, corporation, or other group from controlling too large a share of the market for a product Balloon Payment - correct answer payment more than twice the normal installment payments Bearer - correct answer payee of the instrument made payable to...

Business Law- International Law fully solvedNational Law - correct answer Laws of a particular nation International law - correct answer body of law formed as a result of international customs, treaties, and organizations that govern relations among or between nations. Private Parties - correct answer a term that is used in reference to non-governmental parties. An important term to be clear on since whether a party is private or governmental can change the rules that apply Customs - co...

Business Law Midterm with answers graded A+The law in the United States has been influenced by English, French and Spanish law. - correct answer True Many countries in Europe still follow the civil law system. - correct answer True Businesses that are organized in the United States are subject to its laws, but not to the laws of other countries in which they do business. - correct answer False Promoting social justice is not a function of the law. - correct answer False According to ...

Business Law Past Exam Questions well answeredThe court may grant a ______ if after reviewing the pleadings, the judge determines that the only reasonable decision is in favor of the moving party - correct answer motion for judgement on the pleadings The group that urges states to enact model laws to provide greater uniformity of law is called the ______. - correct answer National Conference of Commissioners of Uniform State Laws Which amendment provides that the government cannot infringe...

Business Law Questions with complete solutionsAny rate of interest above the maximum rate allowable by law is: a. fiduciary b. usury c. undue influence d. duress - correct answer b. usury The party who makes an offer is called the: a. offeree b. offered c. offeror d. optional - correct answer c. offeror The party who is sued in a civil suit is known as the: a. defendant b. plaintiff c. offeror d. administrator - correct answer a. defendant The doctrine of 'stare decisis' i...

Business Law Review with complete solutions graded A+stare decisis - correct answer A common law doctrine under which judges are obligated to follow the precedents established in prior decisions. allege - correct answer To state, recite, assert, or charge. appellant - correct answer The party who takes an appeal from one court to another. appellee - correct answer The party against whom an appeal is taken that is, the party who opposes setting aside or reversing the judgment. civil l...

Business law semester 1 questions with solutionssix elements of a contract (all must exist to be valid) - correct answer tance ne agreement deration ity ity counteroffer - correct answer An offeree's response to an offer in which the offeree rejects the original offer and at the same time makes a new offer. mirror image rule - correct answer means that the terms stated in the acceptance must exactly mirror or match the terms of the offer invitation to negotiate - correct answer...