Introduction To Business Law Ultimate Test (Long)

What is law?

Define "mandatory minimums".

What two sources make the law?

Define "statute".

What kind of law can you sue for money damages?

What are the three levels of court?

________, ________, ________, ________, and ________ correspond to federal powers.

________, ________, ________, ________, and ________ correspond to provincial powers.

When you are on jury duty and cut off from everything, it is known as being ________.

Another term for lawyers is counsel.

• A.

  True

• B.

  False

In a civil case, you can skip any levels of court.

• A.

  True

• B.

  False

A board set up with "court-like" proceedings, is known as a ________.

A private run facility that moderates/settles disputes outside of the court system is known as a ________.

What are the four elements of an offer?

• A.

  Definite

• B.

  Taken back or rescinded

• C.

  Capable of Acceptance

• D.

  Lawful Object

• E.

  Conditions

• F.

  Consideration

When no changes to the contract come back, it is known as ________.

The five elements of a lawful contract include: ________, ________, ________, ________, and ________.

The following items are not valuable in law: ________, ________, and ________.

The threat or use of physical harm is known as ________.

An inequality of bargaining power is known as ________. 

________ law trumps ________ law.

The two types of co-ownership are known as ________ and ________.

Contracts are discharged by ________, ________, ________, ________, and ________.

The prohibition of any use of material that contradicts the written material is known as ________.

An act of god that makes the contract impossible to perform is known as ________.

When you fail or refuse to carry out the terms of a contract, it is known as a ________ of contract.

The two forms of remedy include: ________ and ________.

The four types of contracts include: ________, ________, ________, and ________.

Define "stare decisis".

What is the highest form of ownership?

What is it called when courts look to similar cases in other provinces?

What does the term "on all fours" mean in relation to a case?

________ and ________ are the two types of criminal charges.

What kind of jury requires a unanimous decision?

Define the term contract. 

Define "privity of contract".

What type of contract discharge can a person sue?

Define "consideration".

Define "malum per se".

Define "non compos mentis".

What five types of contracts must be in writing? ________, ________, ________, ________, ________, and ________.

What does the term "acquiescence" mean?

________, ________, and ________ are the three ways in which agreement ends a contract.

Define "de minimas non curat lex".

Define "uberrimae fidei".

When someone holds something for you, either gratuitous or not, it is known as ________.

The three types of remedies that occur under an insurance contract include: ________, ________, and ________.

Under an insurance contract, you are not entitled to replacement value, however are entitled to ________.

In an insurance contract, when you step into the persons shoes and go after the wrongdoer, it is known as ________.

In an insurance contract, when you turn over the rights to something and they pay you out, this is known as ________.

In an insurance contract, when you look to multiple parties for coverage, it is known as ________.