BUSI 301 (BUSI 301)

This document contains 35 fully solved and up-to-date exam questions with verified answers for Test 2 of BUSI 301: Business Law at Liberty University, prepared for the 2025/2026 academic year. It offers a detailed review of intermediate business law topics critical for academic success and professional understanding of commercial legal principles. Major topics include intellectual property (trademark, patent, copyright, parody and fair use), tort law (negligence, contributory negligence, negl...

This document includes 40 thoroughly explained exam questions and answers tailored for BUSI 301: Business Law at Liberty University, for the 2025/2026 academic year. It serves as a comprehensive prep guide for students taking their first major exam in business law, combining legal theory, real-life applications, and ethical frameworks relevant to the business environment. Topics span contract formation (offer, acceptance, consideration, implied contracts), arbitration and litigation, jurisdic...

This document features 40 accurately answered and up-to-date multiple-choice and fill-in-the-blank questions for BUSI 301: Business Law at Liberty University, tailored for the 2025/2026 academic year. It provides a compact yet comprehensive review of the fundamental legal principles relevant to business students and future professionals navigating legal frameworks. Key topics include constitutional law, jurisdiction (personal and subject matter), civil procedure, alternative dispute resolutio...

BUSI 301 - CH 3 questions n answers 100% correctjudiciary branch - correct answer has 2 primary roles: 1. courts adjudication role - resolves disputes 2. judicial review - review decisions of lower courts or the actions of other branches U.S. system of government is a "federal" system - correct answer 2 distinct levels: 1. state 2. federal state courts - correct answer adjudicates cases arising under state statutes, state common law, or state constitutional law federal courts - co...

BUSI 301 - Connect Homework questions well answered graded A+ What type of litigation involves parties and their counsel arguing their respective positions on a business controversy in a court of law? - correct answer Civil In a business context, dispute resolution should be: - correct answer 1. a part of business strategy. 2. a part of business planning. How does a plaintiff initiate a civil lawsuit? - correct answer Filing a complaint Documents filed by a party to the lawsuit, asking...

BUSI 301 - LAW questions and answers graded A+A lack of genuine assent occurs in all of the following cases except:______. failure to reduce the contract to a writing. The signature of the ______ is the one element of contract formality that is uniformly required. party against whom enforcement is sought Brainpower Read More Imposing conditions to a contract helps the parties allocate or adjust _____ associated with performing a contract. risk Passing the CPA exam or meetin...

BUSI 301 Liberty University -BUSI 301 - Week 2 Civil Litigation - correct answer a dispute resolution process of civil (noncriminal) cases in public courts of law. Dispute Resolution - correct answer A method of handling complaints outside the judicial process through a mediator appointed by the court Arbitration - correct answer settling a dispute by agreeing to accept the decision of an impartial outsider informal settlements/consent decrees - correct answer practical devices to cut ...

BUSI 301 Liberty University -BUSI 301 (Business Law) Chapter 1 Concepts verifiedLaw - correct answer A body of rules of action or conduct prescribed by controlling authority and having legal binding force In what type of terms should you think of law? - correct answer Broad terms What is the common characteristic of the current state of law? - correct answer It creates duties, obligations, and rights that reflect accepted views of a given society How is law classified? - correct answer ...

BUSI 301 Liberty University -BUSI 301: Agency Employment well answeredAgency - correct answer a legal relationship in which the parties agree, in some form, that one party will act as an agent for another party, called the principal, subject to the control of the principal (T/F) Agency law generally exists at the federal statutory level and is based on the Restatements (Second) of Agency. - correct answer False The law of agency often overlays and interacts with other areas of the law, esp...