Test Answers on Business Law Flashcards

Business Law: Formation of Contracts: Offer and Acceptance

question Requirements for an offer answer Offeror makes offer to offeree to enter into a contractual agreement. Offer then must be accepted. question No Contracts if answer 1)invitation to negotiate (ads, price quotations, catalogs) 2) offer made in jest or excitement 3) Social Invitations 4)Agreement to make contract later question Valid Agreement answer 1) Valid […]

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Business Law Chapter 9 Flashcards

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

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Business Law Ch.4 T/F

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

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Business law ch. 7

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

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Chapter 4 Managerial Accounting

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

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Chapter 15 – Managerial Accounting Review

question Managers’ Activities and Responsibilities can be Classified into Three broad Functions: answer 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 […]

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Bus Law Final Ch 12

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

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Business Law Chapter 3

question Rights Theory answer 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. question Rights theory answer Two primary categories of rights. Kantianism and modern rights theories. question Kantianism answer Created by Immanuel Kant. Was […]

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Chapter 8 Social Media for Business Communication

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

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busi law-ch 7 strict liability and product liability

question liability is a matter of social policy and is based on 2 factors answer 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 […]

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Business Communication Lesson 11

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

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

question 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, […]

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Brooklyn College Business Law 1 MIDTERM

question What is the Law? answer The Law consists of enforceable rules governing relationships among individuals and between individuals and their society. question Natural Law answer 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 […]

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Business Law Test 1 Scenarios and Case Problems

question 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 […]

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MSUB CITY COLLEGE: Business Law-Quiz 1

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

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Business Law Ch. 1

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

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Business Law Chapter 26

question 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 answer warranty. question Puck signs a check \”pay to the order of Quik Mart\” […]

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Business Law Chapter 5 Notes

question True answer True or False: Under the doctrine of strict liability, liability for injuries is imposed for reasons other than fault. question d. Invasion of privacy answer 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 question True […]

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Utopia 2017 Paper 1 IB Business Management

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

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Business Law Commercial Paper Chapter 29

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

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Bus Law Chapter 12

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

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