Test Answers on Business Law Flashcards

Business Law Chapter 1 Multiple Choice

a The statement, \”What’s good for GM is good for the country,\” is an example of the thoughts of a manager from the: a. inherence school. b. enlightened self-interest school. c. social responsibility school. d. invisible hand school. c According to the 2009 Corruption Perception Index, which country is perceived as the least corrupt? a. […]

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Business Law Chapter 9

State Regulation of Spam Thirty-seven states have legislation requiring an \”opt out\” of further e-mail ads The Federal CAN-SPAM Act Permits the sending of unsolicited commercial e-mail, but prohibits certain types of spamming activities U.S. Safe Web Act Allows FTC to share information with foreign agencies that investigate and prosecute cyber crimes. It also provides […]

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Business Law Ch.4 T/F

The U.S. Constitution establishes a system of government based on the principle of federalism. T Congress has the power to enact legislation, but the president can veto a law that Congress passes. T The U.S. Constitution explicitly allows courts to review legislative and executive actions to determine whether they are constitutional. F The Constitution does […]

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Business law ch. 7

offeror party who makes an offer offeree party to whom an offer is made counteroffer a response with new terms by the offeree which ends the original offer and changes the terms of the offer by the offeree acceptance affirmative response necessary to turn an offer into a contract offer proposal that expresses willingness of […]

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Chapter 4 Managerial Accounting

Cost behavior refers to the manner in which: a cost changes as the related activity changes The three most common cost behavior classifications are: fixed costs, variable costs, and mixed costs Costs that remain constant in total dollar amount as the level of activity changes are called: fixed costs Which of the following costs is […]

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Chapter 15 – Managerial Accounting Review

Managers’ Activities and Responsibilities can be Classified into Three broad Functions: 1. Planning – requires managers to look ahead and to establish objectives. These objectives are often diverse: maximizing short-term profits and market share, maintaining a commitment to environmental protection, and contributing to social programs 2. Directing – involves coordinating a company’s diverse activities and […]

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Bus Law Final Ch 12

to create on offer, an offeror must intent, or appear to intend to be bound to a contractual relationship true generally, advertisements, etc. are offers that can be accepted false social invitations can be offers false the bid of each contractor for a job is considered an offer true if an offer is indefinite or […]

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Business Law Chapter 3

Rights Theory The view of certain human rights are fundamental and must be respected by other people. Primary focus is on each individual member of society and his or her rights. Rights theory Two primary categories of rights. Kantianism and modern rights theories. Kantianism Created by Immanuel Kant. Was an demonologist. Humans were morel actors […]

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Chapter 8 Social Media for Business Communication

Social Age era in which people engage in networked communication, collaborate across boundaries, and solve problems communally Web 1.0 most web pages were read-only and static Web 2.0 read-write web, where users interact extensively with web pages – authoring content, expressing opinions, and customizing and editing web content among other things Social media include social […]

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busi law-ch 7 strict liability and product liability

liability is a matter of social policy and is based on 2 factors 1.the manufacturer can better bear the cost of injury because it can spread the cost throughout society by increasing the prices of its goods 2.the manufacturer is making a profit from its activities and therefore should bear the cost of injury as […]

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Business Communication Lesson 11

Beginning When do you familiarize yourself with the subject of a research project Problem statement Defines the purpose of your research Secondary information Newspapers and periodicals our sources of… Primary research examples A recent survey of your companies top clients, Notes from my conversation recently had with the local government official, your company’s latest balance […]

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Combo with Business Law Chpt 21 Performance and Breach of Lease and Contract and 3 others

Food Packaging, Inc., agrees to sell 50,000 6-ounce yogurt containers to Golden Dairy Company. Food can obtain only 20,000 of the 6-ounce containers, but also ships 30,000 more expensive 8-ounce containers for the same price. Under these circumstances, Golden a. cannot reject delivery, and Food cannot later replace the containers. b. cannot reject delivery, but […]

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Brooklyn College Business Law 1 MIDTERM

What is the Law? The Law consists of enforceable rules governing relationships among individuals and between individuals and their society. Natural Law A higher or universal law exists that applies to all human beings and that written laws should imitate inherent principles. If written law is unjust then it is not a natural law and […]

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Business Law Test 1 Scenarios and Case Problems

A county court in Illinois is deciding a case involving an issue that has never been addressed before in that state’s court’s. The Iowa Supreme Court, however, recently decided a case involving a very similar fact pattern. Is the Illinois court obligated to follow the Iowa supreme Court’s decision on the issue? If the United […]

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MSUB CITY COLLEGE: Business Law-Quiz 1

Common Law The body of law from England and other European countries incorporated into American jurisprudence by the colonists. Statute Laws enacted by an elected legislative body. ex) A state legislature or the U.S. Congress. Case Law Law created by judicial interpretation of appellate decisions. Administrative Agency A governmental body that creates rules and regulations […]

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Business Law Ch. 1

Congress can create a statute on any topic at all. false The case called Kuehn v. Pub Zone would reveal that Kuehn is the plaintiff, since the plaintiff is always listed first. false The doctrine of precedent is binding on all courts from county courts to the U.S. Supreme Court.. false The government itself prosecutes […]

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Business Law Chapter 26

Ethel signs a note \”payable to the order of Fidelity Bank.\” Fidelity indorses the note in blank and negotiates it to Ghani, who sells it to Huck. Liability associated with the transfer of the note from Ghani to Huck is warranty. Puck signs a check \”pay to the order of Quik Mart\” drawn on Puck’s […]

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Business Law Chapter 5 Notes

True True or False: Under the doctrine of strict liability, liability for injuries is imposed for reasons other than fault. d. Invasion of privacy Theories of product liability may normally be based on all of these theories except: a. Negligence b. Misrepresentation c. Strict liability d. Invasion of privacy True True or False: Privity of […]

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Utopia 2017 Paper 1 IB Business Management

Entrepreneur Someone who takes the financial risk (and reaps the rewards!) of starting and managing a new venture. Shares Any of the equal parts into which a company’s capital is divided, entitling the holder to a proportion of the profits. Private limited company A small to medium sized business that is owned by shareholders who […]

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Business Law Commercial Paper Chapter 29

Commercial Paper Unconditional written orders or promises to pay money Draft or Bill of Exchange An unconditional written order by one person that directs another person to pay money to a third party. Drawer The person who executes or \”draws\” the draft or orders the payment Drawee The person ordered to pay the draft. Payee […]

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Bus Law Chapter 12

An offer must be practical to be effective. F A request or invitation to negotiate is an offer. F A price list is a form of invitation to negotiate or trade. T An advertisement is generally considered an offer. F An \”offer\” to sell an item on an online auction site generally is treated an […]

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