Business Law Flashcards With All Complete Questions And 100% Verified Answers.

Administrative Agencies - correct answer commissions or boards that have the power to regulate particular matters or implement laws Antitrust Laws - correct answer laws designed to prevent an individual, corporation, or other group from controlling too large a share of the market for a product Balloon Payment - correct answer payment more than twice the normal installment payments Bearer - correct answer payee of the instrument made payable to whomever is in possession Acceleration Clause - correct answer clause allowing entire principle to be due Carrier - correct answer transporter of goods, people, or both Certificate of Deposit - correct answer an acknowledgement by a bank of a receipt of money with an engagement to repay Check - correct answer a draft payable on demand and drawn on a bank Common Law - correct answer law based upon prior decisions of the judiciary Compensatory Damages - correct answer amount equal to the loss sustained Cosignor - correct answer is a person who is guarantor of the contract, especially a promissory note Damages - correct answer sum of money a wrongdoer must pay to an injured party Debt - correct answer obligation to pay money Default - correct answer breach of contractual obligation other than money Duress - correct answer obtaining consent to a contract by threatening to do harm to a person or members of the person's family Embezzlement - correct answer fraudulent conversion of property lawfully possessed Fiduciary - correct answer a person who handles the money of another for the other person's benefit Finance Charge - correct answer total amount paid for credit Injunction - correct answer a permanent order forbidding activities detrimental to others Law - correct answer a rule of civil conduct, commanding what is right and prohibiting what is wrong Limited Warranty - correct answer written warranty, no a full warranty Liquidated Damages - correct answer sum fixed by contract for breach where actual damages are difficult to measure Negotiable Instrument - correct answer a writing drawn in special form, which can be transferred as a substitute for money or an instrument of credit Administrator - correct answer person appointed by court to administer estate of interstate; personal representative Offer, Acceptance - correct answer must be present to have a contract between two parties