Test Answers on Economics Flashcards

Chapter 9 Business Law – Test 2

Crime wrong against society proclaimed in a statute and punishable by a fine and/or imprisonment – or in some cases, death. Burden of Proof the duty of proving a disputed charge Beyond a reasonable doubt The standard that must be met by the prosecution’s evidence in a criminal case: that there is no other logical […]

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Chapter 7 Essentials of Business Law

contract a legally enforceable agreement that is created when two or more competent parties agree to perform or to avoid performing, certain acts that they have a legal right to do and that meet certain legal requirements. tangible personal property personal property that can be moved. Offer a proposal made by one party (the offender) […]

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Chapter 7 – Business Law

Promise A declaration that binds the person who makes it (the promisor) to do or not to do a certain act (pg. 193) Promisor A person who makes a promise (pg. 193) Promisee A person to whom a promise is made (pg. 193) Contract A set of promises constituting an agreement between parties, giving each […]

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Chapter 4 Business Law Test

Duty Personal responsibility to know the law Violation of the Duty To do wrong by the laws and admit guilt Criminal Intent Meaning to do the crime or not Felony Crime punishable by confinement for more than a year in a state prison or by a fine of more than $1000, or both-or death Misdemeanor […]

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Chapter 22 Business Law and Ethics

Credit an arrangement through which you may receive cash, goods, or services now and pay for them in the future Interest the cost of using someone else’s money Creditor the party who sells the goods on credit or lends the money Debtor the party who buys the goods on credit or borrows the money Open-end […]

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Ch.9 Torts (Business Law)

What does the law of torts permit? It permits individuals and companies to recover from other individuals and companies for wrongs committed against them. What does the law of tort provide? Tort law provides rights and remedies for conduct that meets the elements required to establish that a wrong has occurred. What types of wrongs […]

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Bus 110 Business Law Exam 1 Answers

Glossary Affirmative action taking constructive steps to remedy discriminatory employment practices affecting racial minorities and women.Age under federal employment discrimination law, all persons over age 40 are covered.Back pay compensation for past economic losses (lost wages and fringe benefits) caused by an employer’s discriminatory employment practices, such as limiting promotion opportunities for older workers. Bona […]

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Business Law USF Exam 2 Spring2015

Bilateral/Unilateral Contract Bilateral = A contract entered into by way of exchange of promises of the parties; “a promise for a promise” Unilateral = A contract in which the offeror’s offer can be accepted only by the performance of an act by the offeree; “a promise for an act” Quasi – Contract An equitable doctrine […]

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Business Law Test 1

law a body of enforceable rules governing relationships among individuals and between individuals and their society precedent a court decision that furnishes an example or authority for deciding subsequent cases involving identical or similar facts concurrent jurisdiction jurisdiction that exists when two different court have the power to hear a case in rem jurisdiction jurisdiction […]

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Business Law Quiz 1 – Based on the Blackboard

Courts are not obligated to follow precedents False The Pennsylvania legislature enacts a state law that violates the U.S. Constitution. This law can be enforced by No one Charles is a federal judge whose judicial decisions are part of case law, which does not include interpretations of Sound bites in the media Procedural law consists […]

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Business Law Mid Term pt. 2

The courts award punitive damages in tort cases to punish the wrongdoer and deter other from similar wrongdoing T A successful defense releases the defendant from liability in a lawsuit for tortious act T When outrageous conduct consists of speech about a public figure, the First Amendment guarantee of freedom of speech limits emotional distress […]

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Business Law Midterm Guide

The stability and predictability of the law is essential to business activities. TRUE Law is a body of enforceable rules governing relationships among individuals and between individuals and their society. TRUE A breach of a contract is a failure to perform it. TRUE Constitutional law includes only the U.S. Constitution FALSE A state constitution is […]

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Business Law – Loren Brown UHD

Methods of Conducting International Business Information/Liaison Office Distributorships, Sales Representatives and sales agents Import/Export Licensing Direct Investment (four types) Information/Liaison Office … Distributorships, Sales Representatives and sales agents complex export transaction – sell goods in the host country. o Distributorships: sale of goods to an individual or sales org that, in turn, resells the product […]

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Business Law – L 203 – F. Woodard – IUPUI – Exam 1

Common Law/Case Law Made and applied by the judges at the state level as judges decide cases according to the doctrine of precedent or stare decisis (let the decision stand) Equity Applied by state level judiciary to achieve justice when common law procedures would produce unfair results Injuction Court forbids a party to do some […]

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Business Law II Second Exam

PARTNERSHIP BY ESTOPPEL If someone is not a member of a partnership, she will nonetheless be considered a partner by estoppel if (1) she tells other people she is a partner or allows other people to say, without contradiction, that she is a partner; (2) a third party relies on this assertion; and (3) the […]

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Business Law I

Business Law consists of enforceable rules of conduct that govern commercial relationships. Private Law regulates disputes between private individuals or groups Public Law controls disputes between private individuals or groups and their government= Civil Law delineates the rights and responsibilities implied in relationships between persons and between persons and their government Criminal Law regulates incidents […]

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Business law hw

The most important primary source of our law is: The U.S. Constitution. State constitutions are a primary source of law. True Any law based on a constitution is called Constitutional law. The U.S. Constitution is Supreme Hector believes that a law under which he was convicted for a crime violates the Constitution. If ultimately the […]

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Business Law Flash Cards

Individual corporate directors have the ability, as agents of a corporation, to bind the corporation: Not at all, as individual directors do not have agency power. Drag and drop the appropriate words to complete Director’s Management Responsibilities: negotiations, assets, product executives, employees issuance, dividends Inside director Quorum Outside Director A person on the board of […]

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business law final

InTown Delivery Service promises to deliver a certain couch to Kurt, who promises to pay for the service. If InTown does not perform, the firm may be required to: a do nothing. b make another promise. c pay damages. d perform a different service. c pay damages. Jack promises to buy Kris’s computer for $400. […]

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Business law exam 4

Duke signs a note “payable to the order of Equity Bank.” Unless Duke has a valid defense against payment, his liability on this note is b. primary Rubin writes a check drawn on his account at Clearwater Bank and payable to the order of Gwyn. The bank does not pay the check. Rubin is b. […]

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Business Law (Defamation)

Defamation Is the publication or communication of a false and defamatory statement concerning the plaintiff which is made with required degree of fault by the defendant and with adequate proof of damages by the plaintiff Libel A defamatory statement in some permanent form Slander A defamatory statement in some temporary form Elements of Defamation Falsity, […]

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