1/3/26, 6:12 PM FBLA Business Law Exam (2026) Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
FBLA Business Law Exam (2026) Exam Questions
& Answers | Latest Already Graded A+ UPDATE
2025|2026!!
Save
Terms in this set (270)
acceptance The second party's unqualified willingness to go
along with the first party's proposal
accord and satisfaction A legal way to settle contractual disputes by which
one party agrees to accept less than the amount
due as full payment
actual authority The real power a principal gives to an agent
actual notice A formal notice given directly to a party, usually
using certified mail with a receipt
adhesion contract A take-it-or-leave-it offer made by a party who
holds most of the power in a bargaining session
administrative law The body of rules created by government agencies
adultery When one spouse has sexual relations with
someone outside of marriage
https://quizlet.com/1126877998/fbla-business-law-exam-2026-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 1/27
,1/3/26, 6:12 PM FBLA Business Law Exam (2026) Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
affinity Related by marriage
agency A type of working relationship in which one person
represents another person in a business transaction
with a third party
agency by estoppel When the principal's actions lead the third party to
believe that the agent is working for the principal
agent The person who has been authorized to do the
work
agent's agent An agent who is appointed by another agent
without the principal's authority to do so
alimony An allowance for support paid to one person by
the former spouse in a divorce
alternative dispute resolution (ADR) Parties try to resolve disagreements outside of the
usual court system, by mediation, arbitration,
conciliation, and negotiation
annual percentage rate (APR) The true interest rate of a loan
annulment A declaration by the court that a marriage was
never valid
apparent authority Authority that a third party believes an agent has
while acting on behalf of the principal
appellate court The U.S. courts of appeals in the federal system;
hears appeals and reviews cases from the lower
courts
https://quizlet.com/1126877998/fbla-business-law-exam-2026-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 2/27
, 1/3/26, 6:12 PM FBLA Business Law Exam (2026) Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
arraignment A formal hearing during which the defendant is
read the indictment or information and is asked to
plead guilty or not guilty
arrest Occurs when a person is legally deprived of his or
her freedom
articles of incorporation A legal document filed with the state to establish a
corporation
assault Attempt to commit a battery
asset acquisition When one corporation agrees to purchase the
assets, such as property, buildings, and equipment,
of a second corporation
assignment The transfer of a right under contract
assumption of risk A defense against negligence that is raised when
the plaintiff knew of the risk and still took the
chance of being injured
bail Money or other property that is left with the court
to assure that a person who has been arrested, but
released, will return to trial
bailment The transfer of possession and control of personal
property to another with the intent that the same
property will be returned later
bankruptcy The legal process by which a debtor can make a
fresh start through the sale of assets to pay off
creditors
https://quizlet.com/1126877998/fbla-business-law-exam-2026-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 3/27
FBLA Business Law Exam (2026) Exam Questions
& Answers | Latest Already Graded A+ UPDATE
2025|2026!!
Save
Terms in this set (270)
acceptance The second party's unqualified willingness to go
along with the first party's proposal
accord and satisfaction A legal way to settle contractual disputes by which
one party agrees to accept less than the amount
due as full payment
actual authority The real power a principal gives to an agent
actual notice A formal notice given directly to a party, usually
using certified mail with a receipt
adhesion contract A take-it-or-leave-it offer made by a party who
holds most of the power in a bargaining session
administrative law The body of rules created by government agencies
adultery When one spouse has sexual relations with
someone outside of marriage
https://quizlet.com/1126877998/fbla-business-law-exam-2026-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 1/27
,1/3/26, 6:12 PM FBLA Business Law Exam (2026) Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
affinity Related by marriage
agency A type of working relationship in which one person
represents another person in a business transaction
with a third party
agency by estoppel When the principal's actions lead the third party to
believe that the agent is working for the principal
agent The person who has been authorized to do the
work
agent's agent An agent who is appointed by another agent
without the principal's authority to do so
alimony An allowance for support paid to one person by
the former spouse in a divorce
alternative dispute resolution (ADR) Parties try to resolve disagreements outside of the
usual court system, by mediation, arbitration,
conciliation, and negotiation
annual percentage rate (APR) The true interest rate of a loan
annulment A declaration by the court that a marriage was
never valid
apparent authority Authority that a third party believes an agent has
while acting on behalf of the principal
appellate court The U.S. courts of appeals in the federal system;
hears appeals and reviews cases from the lower
courts
https://quizlet.com/1126877998/fbla-business-law-exam-2026-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 2/27
, 1/3/26, 6:12 PM FBLA Business Law Exam (2026) Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
arraignment A formal hearing during which the defendant is
read the indictment or information and is asked to
plead guilty or not guilty
arrest Occurs when a person is legally deprived of his or
her freedom
articles of incorporation A legal document filed with the state to establish a
corporation
assault Attempt to commit a battery
asset acquisition When one corporation agrees to purchase the
assets, such as property, buildings, and equipment,
of a second corporation
assignment The transfer of a right under contract
assumption of risk A defense against negligence that is raised when
the plaintiff knew of the risk and still took the
chance of being injured
bail Money or other property that is left with the court
to assure that a person who has been arrested, but
released, will return to trial
bailment The transfer of possession and control of personal
property to another with the intent that the same
property will be returned later
bankruptcy The legal process by which a debtor can make a
fresh start through the sale of assets to pay off
creditors
https://quizlet.com/1126877998/fbla-business-law-exam-2026-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 3/27
