FBLA Business Law questions with correct answers

acceptance CORRECT ANSWER The second party's unqualified willingness to go along with the first party's proposal accord and satisfaction CORRECT ANSWER A legal way to settle contractual disputes by which one party agrees to accept less than the amount due as full payment actual authority CORRECT ANSWER The real power a principal gives to an agent actual notice CORRECT ANSWER A formal notice given directly to a party, usually using certified mail with a receipt adhesion contract CORRECT ANSWER A take-it-or-leave-it offer made by a party who holds most of the power in a bargaining session administrative law CORRECT ANSWER The body of rules created by government agencies adultery CORRECT ANSWER When one spouse has sexual relations with someone outside of marriage affinity CORRECT ANSWER Related by marriage agency CORRECT ANSWER A type of working relationship in which one person represents another person in a business transaction with a third party