Sophia Business Law Exam Package Deal

Define what the law is (do not use the textbook definition). Demonstrate a comprehension of our readings and dialouge. - Answer Laws are a set of rules that have been put in place to prevent bad things from happening. These laws are put in place to attempt to protect us and our belongings. Along wit...

A contract that has no legal effect is called a(n) _______ contract. - Answer void Checks, drafts, notes, and certificates of deposit are special forms of contracts recognized by the UCC. They require a special form and language for their creation and must meet certain requirements for transfer. ...

Which statement about torts is correct? - Answer A tortious act may also be a criminal act. During school lunch, Loto decided to pull another prank. As Maria was attempting to sit down with a tray of food, Loto pulled Maria's chair from beneath her. Maria fell to the floor. Which tort is mos...

Why do we care about intellectual property? - Answer - Meisterstuck: difference in quality - A lot of value of associations you make - Buying brands and association - Companies sell brands not products - Consumers got quality they expected - Get value of brand without paying for it - Protect...

Contract law demonstrates which excuses our society accepts for breaking certain types of promises. - Answer t Contract law does not distinguish between promises that create only moral obligations and promises that are legally binding - Answer f In contract law, intent is determined by the per...

Tell me 5 purposes of business laws. - Answer Equality, safe products, level playing field, worker safety and regulation Tell me 6 sources of business laws. - Answer Treaties, Statutes, Case Law, US Constitution, Executive Orders and Administrative Agency Laws Tell me what the principle of sta...

A person may own property as joint tenant with the right of survivorship with any of the following except a(n) - Answer related minor child Long, Fall, and owned a building as JOINT TENANTS - Answer one third interest as tenant in common Which of the following forms of tenancy will be created ...

There are two sides to a case presented before the trier of fact - Answer - person or persons who apply the law, they decide the winner or loser (a judge or jury) Liable/ Liabilty - Answer deals with responsibility (who is responsible) 3 important aspects of the law - Answer 1. Law is powerful...

Uniform Commercial Code - Answer Article 2 of the UCC governs the sales of goods Sale - Answer the transfer of title from seller to buyer Goods - Answer tangible personal property Common law - Answer most contracts are primarily governed by state common law, including contracts involving em...

In a bailment, neither the bailor nor the bailee intends that title to the property should pass. - Answer True Cindy and Scott own property as joint tenants. If Cindy dies, Scott acquires ownership of Cindy's interest in the property. - Answer True Bill parked his gasoline tanker truck at Hig...

Duress - Answer Forcing a party into a contract through fear of threat makes rhe contract voidable (must be wrongful or illegal, incapable of excercising free will Fraud - Answer When a person intentionally makes an assertion that is not in accord with the facts. A contract is - Answer A promi...

A wrongful act need not actually be the cause of an injury for liability on a theory of negligence. - Answer False. A reasonable person standard determines whether allegedly negligent conduct breached a duty of care. - Answer True Negligence requires a failure to exercise due care. - Answer Tr...