FBLA Business
Law (pt. 2) with
correct answers
2025/2026
appellate court - correct answersA court having jurisdiction to review cases and issues that were
originally tried in lower courts.
articles of incorporation - correct answersA document outlining a corporation's name, purpose,
location, amount of stock to be issued, board of directors and other information about the
conditions under which the business will operate; must be filled by a business in order to obtain
a charter.
bailee - correct answersA person who receives personal property from another as a bailment.
bailor - correct answersThe next of kin who delivers the personal effects of the deceased to the
funeral director, is properly termed a
, bait and switch - correct answersA store advertises bargains that do not really exist to lure
customers in, in hopes that they will buy more expensive merchandise.
bankruptcy - correct answersA condition under which a person or corporation is declared
unable to pay debts
binding consideration - correct answersan act that cannot be changed after the contract is
signed by the parties involved
blogging - correct answersa growing practice where people post messages to the Web in diary
form.
bylaw - correct answersRules for the conduct of the internal affairs of corporations and other
organizations.
case law - correct answersAlso known as common law. The law created by judges when deciding
individual disputes or cases.
cashier's check - correct answersa check drawn on a bank's own funds and signed by a
responsible bank official.
caveat emptor - correct answers"Let the buyer beware"
certificate of deposit - correct answersA written acknowledgment of the receipt of money and
its promise to pay back the money, usually with interest on the due date
charter - correct answerslegal document giving certain rights to a person or company
Law (pt. 2) with
correct answers
2025/2026
appellate court - correct answersA court having jurisdiction to review cases and issues that were
originally tried in lower courts.
articles of incorporation - correct answersA document outlining a corporation's name, purpose,
location, amount of stock to be issued, board of directors and other information about the
conditions under which the business will operate; must be filled by a business in order to obtain
a charter.
bailee - correct answersA person who receives personal property from another as a bailment.
bailor - correct answersThe next of kin who delivers the personal effects of the deceased to the
funeral director, is properly termed a
, bait and switch - correct answersA store advertises bargains that do not really exist to lure
customers in, in hopes that they will buy more expensive merchandise.
bankruptcy - correct answersA condition under which a person or corporation is declared
unable to pay debts
binding consideration - correct answersan act that cannot be changed after the contract is
signed by the parties involved
blogging - correct answersa growing practice where people post messages to the Web in diary
form.
bylaw - correct answersRules for the conduct of the internal affairs of corporations and other
organizations.
case law - correct answersAlso known as common law. The law created by judges when deciding
individual disputes or cases.
cashier's check - correct answersa check drawn on a bank's own funds and signed by a
responsible bank official.
caveat emptor - correct answers"Let the buyer beware"
certificate of deposit - correct answersA written acknowledgment of the receipt of money and
its promise to pay back the money, usually with interest on the due date
charter - correct answerslegal document giving certain rights to a person or company
