Introduction To Business Law Ultimate Test (Long)
About This Quiz
The 'Introduction to Business Law Ultimate Test (Long)' assesses knowledge on fundamental legal principles, including the nature of law, sources of law, and specific areas like tort law and statutory law. It is designed for learners looking to understand how legal frameworks operate within a business context.
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- 2.
Another term for lawyers is counsel.
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True
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False
Correct Answer
A. TrueExplanation
The statement is true because the term "counsel" is often used as another word for lawyers. It refers to the legal professionals who provide advice and represent clients in legal matters.Rate this question:
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- 3.
In a civil case, you can skip any levels of court.
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True
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False
Correct Answer
A. FalseExplanation
In a civil case, you cannot skip any levels of court. This means that you must follow the established hierarchy of courts and proceed through each level in order. Skipping levels would be considered a violation of the legal process and could result in the dismissal of your case. It is important to adhere to the proper procedure and respect the judicial system in order to ensure a fair and just resolution to your civil case.Rate this question:
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- 4.
A board set up with "court-like" proceedings, is known as a ________.
Correct Answer
TribunalExplanation
A board set up with "court-like" proceedings is known as a tribunal. A tribunal is a legal body that has the authority to make decisions and judgments on specific matters. It operates similarly to a court, with formal procedures and the power to hear and resolve disputes. Tribunals are often used to handle cases that are outside the jurisdiction of traditional courts or require specialized knowledge. They provide a fair and impartial forum for resolving legal issues and ensuring justice is served.Rate this question:
- 5.
A private run facility that moderates/settles disputes outside of the court system is known as a ________.
Correct Answer
Alternative Dispute ResolutionExplanation
A private run facility that moderates/settles disputes outside of the court system is known as Alternative Dispute Resolution. This term refers to a process where parties involved in a dispute seek a resolution through methods such as negotiation, mediation, or arbitration, rather than going to court. It provides a more informal and flexible approach to resolving conflicts, allowing the parties to have more control over the outcome and potentially save time and money compared to traditional litigation.Rate this question:
- 6.
When no changes to the contract come back, it is known as ________.
Correct Answer
Unqualified acceptanceExplanation
When no changes to the contract come back, it is known as unqualified acceptance. This means that the party receiving the contract has agreed to all the terms and conditions without any modifications or objections. They have accepted the contract as it is, without any alterations or amendments.Rate this question:
- 7.
An inequality of bargaining power is known as ________.
Correct Answer
Undue influenceExplanation
An inequality of bargaining power refers to a situation where one party has significantly more power and control over the negotiation or agreement than the other party. This power imbalance can lead to one party exerting undue influence over the other, manipulating them into making decisions that are not in their best interest. Therefore, the correct answer for this question is "Undue influence."Rate this question:
- 8.
The prohibition of any use of material that contradicts the written material is known as ________.
Correct Answer
Parol Evidence RuleExplanation
The Parol Evidence Rule refers to the prohibition of using any evidence or materials that contradict the terms of a written agreement. This rule states that when parties have reduced their agreement to writing, any prior or contemporaneous oral or written statements that contradict the terms of the written agreement are generally not admissible in court. The purpose of this rule is to ensure that the parties' intentions, as expressed in the written agreement, are upheld and that there is certainty and finality in contractual relationships.Rate this question:
- 9.
An act of god that makes the contract impossible to perform is known as ________.
Correct Answer
FrustrationExplanation
Frustration refers to an unforeseen event or circumstance that occurs after the formation of a contract, making it impossible to fulfill the contractual obligations. This could be an act of nature, such as a natural disaster or an event beyond human control. When frustration occurs, it relieves both parties from their contractual duties and obligations. The concept of frustration is important in contract law as it provides a legal defense for non-performance due to circumstances beyond the parties' control.Rate this question:
- 10.
When you fail or refuse to carry out the terms of a contract, it is known as a ________ of contract.
Correct Answer
BreachExplanation
When someone fails or refuses to fulfill the obligations and terms stated in a contract, it is referred to as a breach of contract. This means that one party has violated the agreement and has not performed their duties as outlined in the contract. Breach of contract can occur in various ways, such as failing to deliver goods or services, not making a payment as agreed, or not meeting the specified deadlines.Rate this question:
- 11.
What is the highest form of ownership?
Correct Answer
fee simpleExplanation
Fee simple is the highest form of ownership because it grants the owner complete and absolute ownership rights over a property. This means that the owner has the right to possess, use, and transfer the property without any restrictions or limitations. Fee simple ownership provides the most extensive bundle of rights compared to other forms of ownership, such as leasehold or life estate. Therefore, fee simple is considered the highest and most desirable form of ownership in real estate.Rate this question:
- 12.
What is it called when courts look to similar cases in other provinces?
Correct Answer
CitingExplanation
When courts look to similar cases in other provinces, it is called citing. Citing refers to the practice of referencing or making reference to previous court decisions or legal authorities in order to support or strengthen an argument or decision. By looking at similar cases in other provinces, courts can gain insights and guidance on how similar legal issues were resolved, which can help inform their own decision-making process. This practice promotes consistency and fairness in the legal system by ensuring that similar cases are treated similarly across different jurisdictions.Rate this question:
- 13.
What type of contract discharge can a person sue?
Correct Answer
BreachExplanation
A person can sue for breach of contract discharge. This means that if one party fails to fulfill their obligations as outlined in the contract, the other party has the right to take legal action against them. By suing for breach of contract, the aggrieved party can seek remedies such as damages or specific performance to compensate for the losses suffered due to the other party's failure to perform their contractual duties.Rate this question:
- 14.
Define "malum per se".
Correct Answer
An action that is bad/evil in itselfExplanation
"Malum per se" is a Latin term that refers to an action that is inherently bad or evil, regardless of the circumstances or intentions behind it. This means that the action is considered morally wrong by its nature, regardless of any external factors. It implies that certain actions are universally and intrinsically immoral, regardless of cultural or personal beliefs.Rate this question:
- 15.
Define "non compos mentis".
Correct Answer
Not mentally capableExplanation
"Non compos mentis" is a Latin phrase that translates to "not mentally capable." This term is used to describe someone who lacks the mental capacity to understand or make rational decisions. It typically refers to individuals who are mentally ill, insane, or suffering from a cognitive impairment that impairs their ability to function normally.Rate this question:
- 16.
What does the term "acquiescence" mean?
Correct Answer
You cannot sit on your rightsExplanation
The term "acquiescence" refers to the act of passively accepting or agreeing to something without actively protesting or taking action. In this context, the statement "You cannot sit on your rights" implies that one cannot passively allow their rights to be violated or ignored without taking any action to protect or assert them. It suggests the importance of actively standing up for one's rights and not remaining silent or inactive when they are being infringed upon.Rate this question:
- 17.
Define "uberrimae fidei".
Correct Answer
utmost good faithExplanation
"Uberrimae fidei" is a Latin term that translates to "utmost good faith." It is a legal principle that requires parties to a contract or agreement to act honestly, openly, and in good faith towards each other. This means that both parties must disclose all relevant information and not withhold any material facts that could affect the agreement. The principle of utmost good faith is often applied in insurance contracts, where the insured is required to provide complete and accurate information about the risks being insured. This ensures transparency and fairness in the contractual relationship.Rate this question:
- 18.
When someone holds something for you, either gratuitous or not, it is known as ________.
Correct Answer
BailmentExplanation
When someone holds something for you, either gratuitous or not, it is known as bailment. Bailment refers to a legal relationship where one person temporarily transfers possession of their property to another person, known as the bailee. The bailee is responsible for taking care of the property and returning it to the bailor once the purpose of the bailment is fulfilled. This can occur in various situations, such as lending a book to a friend or leaving your car at a valet parking service.Rate this question:
- 19.
Under an insurance contract, you are not entitled to replacement value, however are entitled to ________.
Correct Answer
fair market valueExplanation
Under an insurance contract, the policyholder is not entitled to receive the full replacement value of the insured item in case of a loss or damage. Instead, they are entitled to receive the fair market value of the item. This means that the insurance company will compensate the policyholder based on the current market value of the item at the time of the loss, taking into consideration factors such as depreciation and wear and tear. The fair market value represents the amount that the item could be sold for in the open market, and it is a common practice in insurance to use this value for determining the compensation amount.Rate this question:
- 20.
In an insurance contract, when you step into the persons shoes and go after the wrongdoer, it is known as ________.
Correct Answer
SubrogationExplanation
Subrogation is the term used in an insurance contract when the insurance company steps into the insured person's shoes and pursues the wrongdoer to recover the amount paid out for the claim. It allows the insurance company to seek reimbursement from the responsible party for the damages or losses incurred by the insured. This process helps prevent the insured from receiving a double recovery and allows the insurance company to recoup their expenses.Rate this question:
- 21.
In an insurance contract, when you turn over the rights to something and they pay you out, this is known as ________.
Correct Answer
salvageExplanation
In an insurance contract, when you turn over the rights to something and they pay you out, it is known as salvage. This refers to the process of the insurance company taking possession of damaged property in exchange for payment. It allows the insurance company to recoup some of their losses by selling the salvaged property or using it for parts.Rate this question:
- 22.
In an insurance contract, when you look to multiple parties for coverage, it is known as ________.
Correct Answer
ContributionExplanation
In an insurance contract, when you look to multiple parties for coverage, it is known as contribution. This means that each party contributes a portion of the coverage or compensation for a claim. It is a way to distribute the risk and financial responsibility among multiple insurers or parties involved in the contract.Rate this question:
- 23.
If the employer has ________, they have the right to terminate the employment contract.
Correct Answer
just causeExplanation
If the employer has "just cause," it means they have a valid reason or justification to terminate the employment contract. This implies that the employer has identified a serious misconduct or breach of contract on the part of the employee, providing legal grounds for termination. With just cause, the employer can end the employment relationship without being in violation of the contract or facing legal consequences.Rate this question:
- 24.
When the just cause is not so serious, the employer has a ________.
Correct Answer
duty to warnExplanation
When the just cause is not so serious, the employer has a duty to warn. This means that if the employer becomes aware of any potential risks or dangers in the workplace that may not be considered serious enough to warrant immediate action, they are still obligated to inform their employees about it. This allows the employees to be aware of the situation and take necessary precautions to ensure their safety. It is the employer's responsibility to provide a safe working environment, and even if the cause is not deemed serious, they must still fulfill their duty to warn their employees.Rate this question:
- 25.
What does C.B.A stand for?
Correct Answer
collective bargaining agreementExplanation
C.B.A stands for collective bargaining agreement. This refers to a legally binding contract between an employer and a labor union that outlines the terms and conditions of employment for the workers represented by the union. The agreement covers various aspects such as wages, working hours, benefits, and dispute resolution procedures. It is negotiated through a process of collective bargaining, where representatives from both the employer and the union come together to reach a mutually satisfactory agreement. The C.B.A helps to ensure fair and equitable treatment of workers and establishes a framework for labor relations within an organization.Rate this question:
- 26.
The type of law that deals with causing harm is known as ________.
Correct Answer
tortExplanation
The type of law that deals with causing harm is known as tort. A tort is a civil wrong that causes harm or injury to someone, either intentionally or negligently. It involves actions or omissions that result in harm to another person's body, property, or reputation. Tort law aims to compensate the injured party for the damages they have suffered and deter others from committing similar wrongful acts. It covers a wide range of cases, including personal injury, defamation, negligence, and product liability.Rate this question:
- 27.
In latin, "tortus" means ________.
Correct Answer
wrongdoingExplanation
The word "tortus" in Latin means "wrongdoing". This indicates that the word "wrongdoing" is the correct translation or meaning of the Latin term "tortus".Rate this question:
- 28.
If what you are doing is causing harm to someone else, you could be held responsible under ________ law.
Correct Answer
tortExplanation
If someone's actions are causing harm to another person, they can be held responsible under tort law. Tort law deals with civil wrongs and provides remedies for individuals who have suffered harm or injury due to someone else's negligence, intentional actions, or strict liability. It covers a wide range of situations, including personal injury, property damage, and defamation. Therefore, if an individual's actions are causing harm to someone else, they may be held legally responsible under tort law.Rate this question:
- 29.
Assault & battery are examples of ________ harm.
Correct Answer
physicalExplanation
Assault and battery are both forms of physical harm. Assault refers to the intentional act of causing apprehension of harmful or offensive contact, while battery refers to the intentional act of causing harmful or offensive physical contact with another person. Therefore, both assault and battery involve direct physical harm to an individual.Rate this question:
- 30.
It is not considered ________ unless there is physical contact.
Correct Answer
batteryExplanation
Battery is not considered battery unless there is physical contact. This means that for an act to be considered battery, there must be some form of physical contact between the perpetrator and the victim. Without physical contact, the act does not meet the legal definition of battery.Rate this question:
- 31.
A person can be charged and convicted for ________ to do something.
Correct Answer
threateningExplanation
A person can be charged and convicted for threatening to do something. This means that if someone makes a threat to harm or cause damage to another person or property, they can be held legally responsible for their actions. Threatening behavior is considered a serious offense as it can cause fear and distress to the victim. Therefore, the law allows for charges and convictions to ensure that individuals who engage in such behavior are held accountable for their actions.Rate this question:
- 32.
For assault to occur, you do not necessarily have to have ________.
Correct Answer
contact - 33.
Coming up behind someone or attacking them while they are asleep is known as ________, because they did not fear the assault.
Correct Answer
batteryExplanation
The term "battery" refers to the act of physically attacking or assaulting someone. In this context, coming up behind someone or attacking them while they are asleep can be considered a form of battery. The fact that the person being attacked did not fear the assault suggests that it was unexpected and caught them off guard.Rate this question:
- 34.
Define "volenti non fit injuria".
Correct Answer
the one who consents cannot claim injuryExplanation
"Volenti non fit injuria" is a legal principle that states that if someone willingly and knowingly participates in an activity or situation, they cannot later claim that they were injured or wronged as a result. This principle is often applied in cases where individuals engage in risky activities or sign waivers before participating in potentially dangerous events. By giving their consent, they are assumed to have accepted the inherent risks and waived their right to claim injury.Rate this question:
- 35.
Define "mens rea".
Correct Answer
Criminal intentExplanation
"Mens rea" refers to the mental state or intention of a person while committing a crime. It signifies that a person must have had a guilty mind or criminal intent to be held responsible for the offense. It is an essential element in criminal law as it helps determine the level of culpability and whether the person should be held accountable for their actions.Rate this question:
- 36.
What are the two lesser forms of ownership than fee simple? ________ and ________
Correct Answer
life estate
easementExplanation
A life estate is a form of ownership where a person has the right to possess and use a property for the duration of their life. After their death, the property passes to another owner. An easement, on the other hand, is a limited right to use someone else's property for a specific purpose, such as accessing a roadway or utility lines. Both of these forms of ownership are considered lesser than fee simple, as they involve restrictions on the full bundle of rights typically associated with fee simple ownership.Rate this question:
- 37.
What determines whether you can or cannot take out a policy of insurance? Must determine insurable interest which is determined by ________ and ________.
Correct Answer
ownership
financial interestExplanation
To determine whether you can take out an insurance policy, you must have insurable interest, which is determined by ownership and financial interest. Ownership refers to having legal ownership or possession of the property or item being insured. Financial interest means that you have a financial stake or investment in the property or item, such as owing money on a loan or having a financial interest in its value. Both ownership and financial interest are important factors in determining insurable interest and eligibility for an insurance policy.Rate this question:
- 38.
What are the two types of personal harm under tort law? ________ and ________
Correct Answer
physical
false imprisonmentExplanation
The two types of personal harm under tort law are physical harm and false imprisonment. Physical harm refers to any bodily injury or damage caused to a person, while false imprisonment refers to the unlawful confinement or restraint of an individual without their consent. These two types of harm are recognized and addressed within the legal framework of tort law to ensure that individuals are protected from such actions and can seek compensation for the harm they have suffered.Rate this question:
- 39.
Another word for "absolute defence" is ________.
Correct Answer
truthExplanation
The word "absolute defense" refers to a defense strategy that is complete and unconditional, leaving no room for doubt or uncertainty. The word "truth" aligns with this definition as it represents something that is indisputable and based on facts. Therefore, "truth" can be considered as another word for "absolute defense".Rate this question:
- 40.
A false statement about one's business intended to undermine or cause a loss to the person's business is known as ________.
Correct Answer
injurious falsehoodExplanation
Injurious falsehood refers to a false statement made about someone's business with the intention to cause harm or loss to that person's business. This can include spreading false information, rumors, or negative reviews in order to undermine the reputation and success of the business. It is a form of defamation that aims to damage the business's credibility and financial standing.Rate this question:
- 41.
What is it called when you cannot be sued for defamation?
Correct Answer
privilegeExplanation
When you cannot be sued for defamation, it is referred to as "privilege." Privilege is a legal defense that protects individuals from being held liable for making defamatory statements in certain situations, such as during courtroom proceedings, legislative debates, or in the context of reporting news. This defense recognizes the importance of free speech and allows individuals to express themselves without fear of legal repercussions in specific circumstances where their statements are considered privileged.Rate this question:
- 42.
Affecting someone's lawful ownership and enjoyment of property is known as ________.
Correct Answer
trespass, trespassingExplanation
Affecting someone's lawful ownership and enjoyment of property is known as trespass or trespassing. This refers to the act of entering or using someone else's property without their permission, thereby intruding on their rights and potentially causing harm or disruption to their ownership or enjoyment of the property.Rate this question:
- 43.
The two types of intentional tort under property are ________ and ________.
Correct Answer
trespass
conversionExplanation
In the context of property law, intentional torts refer to wrongful acts committed against someone's property. Trespass is one of the intentional torts under property, which involves unlawfully entering or remaining on someone else's land without permission. Conversion is another intentional tort under property, which occurs when someone wrongfully takes or uses someone else's property without their consent, thereby depriving the owner of their rights to the property. Both trespass and conversion involve intentional interference with someone's property rights and can result in legal action against the wrongdoer.Rate this question:
- 44.
Taking something without permission or keeping it past the time that you are supposed to return it is known as ________.
Correct Answer
conversion - 45.
Fault is determined by way of ________.
Correct Answer
negligenceExplanation
Fault is determined by negligence, which refers to the failure to exercise reasonable care or the lack of attention and caution that a reasonable person would exercise in a similar situation. Negligence is a legal concept used to assign responsibility for the harm caused by one's actions or omissions. It involves a failure to meet a standard of care, resulting in damage or injury to another party. In determining fault, negligence is often a key factor considered by the courts.Rate this question:
- 46.
Another word for unintentional harm is known as ________.
Correct Answer
negligenceExplanation
Negligence refers to the failure to take proper care or to act with reasonable caution, resulting in unintentional harm or injury to someone. It is the legal term used to describe the unintentional actions or omissions that lead to harm or damage. Therefore, negligence is another word for unintentional harm.Rate this question:
- 47.
When you verify whether or not they met or exceeded the standard, you are determining whether there was a ________.
Correct Answer
breach of standardExplanation
When you verify whether or not they met or exceeded the standard, you are determining whether there was a breach of standard. This means that you are checking if the person or entity being evaluated failed to meet the required level of performance or quality set by the standard. A breach indicates that the standard was not met or violated in some way.Rate this question:
- 48.
When you question whether or not the person was the direct cause by their actions, you are determining if there was ________.
Correct Answer
legal causationExplanation
When questioning whether or not a person was the direct cause of an event through their actions, the concept being considered is legal causation. Legal causation refers to the determination of whether the actions of an individual were the cause of a particular harm or outcome, and if they can be held legally responsible for it. It involves examining the causal link between the person's actions and the resulting consequences, considering factors such as foreseeability and proximate cause.Rate this question:
- 49.
________ do not fall under "novus actus interveniens".
Correct Answer
pre-existing conditionsExplanation
Pre-existing conditions do not fall under "novus actus interveniens" because they are not new or intervening factors that break the chain of causation in a legal context. Novus actus interveniens refers to an unforeseeable event or action that occurs after the defendant's act, which becomes the main cause of the harm. However, pre-existing conditions are known and existing before the defendant's act, and therefore cannot be considered as intervening factors.Rate this question:
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Aug 27, 2023Quiz Edited by
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Dec 11, 2016Quiz Created by
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