Business Law 1 (GRCC) Exam
Questions With 100% Verified Answers
How is bailment created? -
correct answer ✅Bailment is created when a relationship is
established when someone entrusts his property temporarily to
someone else without intending to give up title.
What are different types of jurisdictions? -
correct answer ✅Original jurisdiction: the right to hear cases for
the first time (decide guilty or not guilty)
Appellate jurisdiction: the authority of a court to hear a case
appealed from a lower court (checks over 1st jursidiction)
Concurrent jurisdiction: both have jursidiction over both cases
Exclusive jursidiction: have or heard only by federal court
What is covered by a limited warranty? -
correct answer ✅It is LIMITED to what it covers. It could mean
specified parts, certain types of defects, or other conditions.
,Business Law 1 (GRCC) Exam
Questions With 100% Verified Answers
When does a leasehold estate terminate? -
correct answer ✅A leasehold estate is one whose termination date
is usually known. A one-year lease, for example, will expire
precisely at the time stated in the lease agreement.
When is a landlord liable? -
correct answer ✅The landlord is liable to hidden dangers known to
the landlord, dangers to people off the premises (but still his
property), and premises leased for admitting to the public.
What are the rights and duties of a subtenant? -
correct answer ✅The subtenant is on the agreement of a
SUBLEASE (a transfer of something less than the entire leasehold
interest) not a ASSIGNMENT (the tenant transfers all interest in the
premises and all obligations), and because of this the subtenants
only obligations are to the tenant.
When can a tenant transfer a leasehold interest? -
correct answer ✅The tenant can transfer a leasehold interest at
any time during their lease.
, Business Law 1 (GRCC) Exam
Questions With 100% Verified Answers
What are the legal requirements for hazardous waste? -
correct answer ✅
What is an easement? -
correct answer ✅A legal right to use another's land for a specific
limited purpose, but the owner still has ownership over the land.
How is an express warranty created? -
correct answer ✅Whenever the seller affirms that the product will
perform in a certain manner.
What is covered under Article III of the Constitution? -
correct answer ✅Article III creates the federal judiciary, and the
Bill of Rights, adopted in 1791, makes clear that individual rights
must be preserved against activities of the federal government.
What is employment at will? -
correct answer ✅That rule holds that in the absence of a
contractual agreement otherwise, an employee is free to leave
employment at any time and for any reason; similarly, an employer
is free to fire employees at any time and for any reason.
Questions With 100% Verified Answers
How is bailment created? -
correct answer ✅Bailment is created when a relationship is
established when someone entrusts his property temporarily to
someone else without intending to give up title.
What are different types of jurisdictions? -
correct answer ✅Original jurisdiction: the right to hear cases for
the first time (decide guilty or not guilty)
Appellate jurisdiction: the authority of a court to hear a case
appealed from a lower court (checks over 1st jursidiction)
Concurrent jurisdiction: both have jursidiction over both cases
Exclusive jursidiction: have or heard only by federal court
What is covered by a limited warranty? -
correct answer ✅It is LIMITED to what it covers. It could mean
specified parts, certain types of defects, or other conditions.
,Business Law 1 (GRCC) Exam
Questions With 100% Verified Answers
When does a leasehold estate terminate? -
correct answer ✅A leasehold estate is one whose termination date
is usually known. A one-year lease, for example, will expire
precisely at the time stated in the lease agreement.
When is a landlord liable? -
correct answer ✅The landlord is liable to hidden dangers known to
the landlord, dangers to people off the premises (but still his
property), and premises leased for admitting to the public.
What are the rights and duties of a subtenant? -
correct answer ✅The subtenant is on the agreement of a
SUBLEASE (a transfer of something less than the entire leasehold
interest) not a ASSIGNMENT (the tenant transfers all interest in the
premises and all obligations), and because of this the subtenants
only obligations are to the tenant.
When can a tenant transfer a leasehold interest? -
correct answer ✅The tenant can transfer a leasehold interest at
any time during their lease.
, Business Law 1 (GRCC) Exam
Questions With 100% Verified Answers
What are the legal requirements for hazardous waste? -
correct answer ✅
What is an easement? -
correct answer ✅A legal right to use another's land for a specific
limited purpose, but the owner still has ownership over the land.
How is an express warranty created? -
correct answer ✅Whenever the seller affirms that the product will
perform in a certain manner.
What is covered under Article III of the Constitution? -
correct answer ✅Article III creates the federal judiciary, and the
Bill of Rights, adopted in 1791, makes clear that individual rights
must be preserved against activities of the federal government.
What is employment at will? -
correct answer ✅That rule holds that in the absence of a
contractual agreement otherwise, an employee is free to leave
employment at any time and for any reason; similarly, an employer
is free to fire employees at any time and for any reason.
