BUSINESS LAW EXAM 1 (CH. 1-
4)
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This Exam contains: Business Law Exam 1 (ch. 1-
✓ 4)
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,Question 1
administrative agency
Correct Answer
a federal, state, or local government agency established to perform a specific function; administrative
agencies are authorized by legislative acts to make and enforce rules to administer and enforce the
acts.
Question 2
administrative law
Correct Answer
the body of law created by administrative agencies (in the form of rules, regulations, orders, and
decisions) in order to carry out their duties and responsibilities.
Question 3
allege
Correct Answer
to state, recite, assert, or charge.
Question 4
analogy
Correct Answer
in logical reasoning, an assumption that if two things are similar in some respects, they will be similar
in other respects also; often used in legal reasoning to infer the appropriate application of legal
principles in a case being decided by referring to previous cases involving different facts but
considered to come within the policy underlying the rule.
,Question 5
appellant
Correct Answer
the party who takes an appeal from one court to another.
Question 6
appellee
Correct Answer
the party against whom the appeal is taken-that is, the party who opposes setting aside of reversing
the judgment.
Question 7
binding authority
Correct Answer
any source of law that a court must follow when deciding a case; binding authorities include
constitutions, statutes, and regulations that govern the issue being decided, as well as court decisions
that are controlling precedents within the jurisdiction.
Question 8
breach
Correct Answer
to violate a law, by an act or an omission, or to break a legal obligation that one owes to another
person or to society.
, Question 9
case law
Correct Answer
the rules of law announced in court decisions; case law includes the aggregate of reported cases that
interpret judicial precedents, statues, regulations, and constitutional provisions.
Question 10
case on point
Correct Answer
a previous case involving factual circumstances and issues that are similar to those in the case before
the court.
Question 11
chancellor
Correct Answer
an advisor to the king at the time of the early king's court of England; individuals petitioned the king
for relief when they could not obtain an adequate remedy in a court of law, and these petitions were
decided by the chancellor.
Question 12
citation
Correct Answer
a reference to a publication in which a legal authority-such as a statute or a court decision-or other
source can be found.
4)
130+ (Latest 2025-2026 Edition) 100% Verified Q&A + Answer Key
Solutions
100% Guarantee Pass
This Exam contains: Business Law Exam 1 (ch. 1-
✓ 4)
✓ 100% Accurate Questions and Answers
✓ 100% Guarantee Pass - Verified by Experts
✓ Each Question Includes The Correct Answer
✓ Expert-Verified
,Question 1
administrative agency
Correct Answer
a federal, state, or local government agency established to perform a specific function; administrative
agencies are authorized by legislative acts to make and enforce rules to administer and enforce the
acts.
Question 2
administrative law
Correct Answer
the body of law created by administrative agencies (in the form of rules, regulations, orders, and
decisions) in order to carry out their duties and responsibilities.
Question 3
allege
Correct Answer
to state, recite, assert, or charge.
Question 4
analogy
Correct Answer
in logical reasoning, an assumption that if two things are similar in some respects, they will be similar
in other respects also; often used in legal reasoning to infer the appropriate application of legal
principles in a case being decided by referring to previous cases involving different facts but
considered to come within the policy underlying the rule.
,Question 5
appellant
Correct Answer
the party who takes an appeal from one court to another.
Question 6
appellee
Correct Answer
the party against whom the appeal is taken-that is, the party who opposes setting aside of reversing
the judgment.
Question 7
binding authority
Correct Answer
any source of law that a court must follow when deciding a case; binding authorities include
constitutions, statutes, and regulations that govern the issue being decided, as well as court decisions
that are controlling precedents within the jurisdiction.
Question 8
breach
Correct Answer
to violate a law, by an act or an omission, or to break a legal obligation that one owes to another
person or to society.
, Question 9
case law
Correct Answer
the rules of law announced in court decisions; case law includes the aggregate of reported cases that
interpret judicial precedents, statues, regulations, and constitutional provisions.
Question 10
case on point
Correct Answer
a previous case involving factual circumstances and issues that are similar to those in the case before
the court.
Question 11
chancellor
Correct Answer
an advisor to the king at the time of the early king's court of England; individuals petitioned the king
for relief when they could not obtain an adequate remedy in a court of law, and these petitions were
decided by the chancellor.
Question 12
citation
Correct Answer
a reference to a publication in which a legal authority-such as a statute or a court decision-or other
source can be found.
