Introduction To Business Law Test Quiz- I

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Introduction To Business Law Test Quiz- I - Quiz

Here, we bring you the Introduction To Business Law Test Quiz Part- I. Business law is the body of the law, which states the rules that all businesses should follow. Being that you just started covering the subject, it is important to ensure that you are in touch with the topics as you cover them.


Questions and Answers
  • 1. 

    Law made when an appellate court endorses a rule to be used in deciding court cases is _______________________.

    • A.

      Common law

    • B.

      Case law

    • C.

      Administrative law

    • D.

      None of the above

    Correct Answer
    B. Case law
    Explanation
    Case law refers to the body of law that is derived from judicial decisions, especially from appellate courts. When an appellate court endorses a rule to be used in deciding court cases, it becomes part of the case law. This means that the rule established by the court becomes a precedent and must be followed by lower courts in similar cases. Therefore, the correct answer is case law.

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  • 2. 

    ___________________ is a group of laws defining the methods for enforcing legal rights and decisions. 

    • A.

      Common law

    • B.

      Administrative agencies

    • C.

      Procedural law

    • D.

      Case law

    Correct Answer
    C. Procedural law
    Explanation
    Procedural law refers to a set of laws that outlines the procedures and processes for enforcing legal rights and decisions. It establishes the rules and guidelines that must be followed in legal proceedings, such as filing a lawsuit, presenting evidence, and conducting trials. Procedural law ensures that legal proceedings are fair, consistent, and efficient by providing a framework for how cases are handled within the legal system. It is distinct from substantive law, which defines the rights and obligations of individuals and organizations.

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  • 3. 

    ________________ are enforced rules of conduct in a society.

    • A.

      Statutes

    • B.

      Laws

    • C.

      Morals

    • D.

      Values

    Correct Answer
    B. Laws
    Explanation
    Laws are enforced rules of conduct in a society. They are created by governing bodies and have legal consequences if violated. Laws are designed to maintain order, protect individual rights, and promote the common good. They are enforceable by the judicial system and are applicable to all members of a society. While statutes refer specifically to written laws enacted by legislatures, laws in a broader sense encompass both written and unwritten rules that govern behavior. Morals and values, on the other hand, are personal beliefs and principles that guide individual behavior but may not necessarily be enforceable by the legal system.

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  • 4. 

    Laws enacted by state legislatures or federal legislatures are _______________.

    • A.

      Statutes

    • B.

      Rules

    • C.

      Property

    • D.

      Decided by the judge

    Correct Answer
    A. Statutes
    Explanation
    Laws enacted by state legislatures or federal legislatures are referred to as statutes. Statutes are formal written laws that are enacted and enforced by the legislative branch of government. They are the primary source of law in a jurisdiction and are binding on individuals and organizations within that jurisdiction. Statutes are typically created to address specific issues or regulate certain behaviors, and they play a crucial role in shaping the legal framework of a country or state.

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  • 5. 

    Status of a law that conflicts with a constitution and which is therefore invalid are __________.

    • A.

      Right

    • B.

      Wrong

    • C.

      Illegal

    • D.

      Unconstitutional

    Correct Answer
    D. Unconstitutional
    Explanation
    The status of a law that conflicts with a constitution and is therefore invalid is described as "unconstitutional." This means that the law goes against the principles and provisions outlined in the constitution and cannot be enforced or considered legally valid.

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  • 6. 

    Power of the court to decide a case is called _______________.

    • A.

      Equity

    • B.

      Administrative

    • C.

      Rights

    • D.

      Jurisdiction

    Correct Answer
    D. Jurisdiction
    Explanation
    Jurisdiction refers to the power and authority of a court to hear and decide a case. It determines whether a court has the legal right to handle a particular matter and make a binding decision. It involves the court's ability to interpret and apply the law to the facts of a case, ensuring that justice is served. Therefore, jurisdiction is the correct answer as it accurately describes the court's power to decide a case.

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  • 7. 

    Legislative enactments by a city are called _________________.

    • A.

      Ordinances

    • B.

      Order

    • C.

      Curfews

    • D.

      Judges laws

    Correct Answer
    A. Ordinances
    Explanation
    Legislative enactments by a city are called ordinances. This term refers to laws or regulations that are passed by the local government to govern and regulate various aspects within the city. Ordinances can cover a wide range of issues such as zoning, public safety, health codes, and business regulations. They are typically specific to a particular city or municipality and are enforced within its jurisdiction.

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  • 8. 

    Government body formed to carry out particular laws are called ___________________.

    • A.

      Cabinets

    • B.

      Secretaries

    • C.

      Administrative agencies

    • D.

      Juries

    Correct Answer
    C. Administrative agencies
    Explanation
    Administrative agencies are government bodies that are created to implement and enforce specific laws and regulations. They are responsible for carrying out the day-to-day operations and administration of these laws, including implementing policies, making decisions, and providing services to the public. Cabinets are groups of high-ranking government officials, secretaries are individuals who hold positions in administrative departments, and juries are groups of individuals who decide on legal cases. Therefore, administrative agencies are the correct answer in this context.

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  • 9. 

    Basic fariness is also called _________________.

    • A.

      Honest

    • B.

      Morals

    • C.

      Values

    • D.

      Equity

    Correct Answer
    D. Equity
    Explanation
    Equity refers to the concept of fairness and justice in distributing resources and opportunities. It ensures that everyone is treated equally and has access to the same rights and benefits. Basic fairness is another term used to describe this principle of equity, emphasizing the importance of equal treatment and impartiality.

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  • 10. 

    Power of a court to decide a case is called __________________.

    • A.

      Order

    • B.

      Rights

    • C.

      Jurisdcition

    • D.

      Decisions

    Correct Answer
    C. Jurisdcition
    Explanation
    Jurisdiction refers to the power of a court to hear and decide a case. It determines whether a court has the authority to adjudicate a particular matter based on factors such as the subject matter, geographical location, and the parties involved. It is the legal authority that a court possesses to interpret and apply the law in order to resolve disputes.

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  • 11. 

    The first ten amendments to the U.S. Constitution are known as the ________.

    • A.

      Declaration of Independance

    • B.

      Bill of Rights

    • C.

      Add-ons

    • D.

      Constitutions overides

    Correct Answer
    B. Bill of Rights
    Explanation
    The first ten amendments to the U.S. Constitution are known as the Bill of Rights. These amendments were added to the Constitution to protect individual liberties and limit the power of the federal government. The Bill of Rights guarantees important rights such as freedom of speech, religion, and the right to a fair trial. It is a crucial part of the Constitution and plays a significant role in safeguarding the rights and freedoms of American citizens.

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  • 12. 

    As long as they are constitutionally valid, the laws of the various states

    • A.

      Do have to be alike

    • B.

      Do not have to be alike.

    Correct Answer
    B. Do not have to be alike.
    Explanation
    The statement suggests that the laws of the various states do not have to be alike, as long as they are constitutionally valid. This means that each state has the freedom to enact its own laws, even if they differ from those of other states, as long as they comply with the constitution. Therefore, there is no requirement for uniformity among state laws.

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  • 13. 

    ___________ is law dictated from above.

    • A.

      Heavenly law

    • B.

      Ritual law

    • C.

      Grace law

    • D.

      Positive law

    Correct Answer
    D. Positive law
    Explanation
    Positive law refers to laws that are created and enforced by a governing authority, such as a government or legislative body. These laws are imposed on individuals and society as a whole, and are typically based on social, political, and economic considerations. Unlike other types of law, such as heavenly law or ritual law, positive law is not derived from divine sources or religious beliefs. Instead, it is established and enforced by human institutions. Therefore, positive law can be seen as law that is dictated from above, as it is imposed by those in positions of authority.

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  • 14. 

    Sources of law include constitutions, statutes, cases decided by __________________, and regulations and rulings of administrative agencies. 

    • A.

      Supreme courts

    • B.

      Juvenile courts

    • C.

      Family courts

    • D.

      Appellate courts

    Correct Answer
    D. Appellate courts
    Explanation
    Appellate courts are included as a source of law because they have the authority to interpret and apply the law in cases that are appealed from lower courts. Their decisions set precedents that can be used to guide future legal decisions. As such, appellate court decisions contribute to the development and clarification of legal principles, making them an important source of law. The other options, such as supreme courts, juvenile courts, and family courts, may also play a role in the legal system, but they are not specifically mentioned as sources of law in this context.

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  • Feb 08, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Aug 24, 2009
    Quiz Created by
    Kstargell
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