FBLA Business Law Exam Questions and Answers 2026/2027 | Actual Exam Verified Solutions | Instant Download

FBLA BUSINESS LAW EXAM QUESTIONS AND ANSWERS

WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE

2026/2027




acceptance The second party's unqualified

willingness to go along with the

first party's proposal

accord and A legal way to settle contractual

satisfaction disputes by which one party

agrees to accept less than the

amount due as full payment

actual authority The real power a principal gives to

an agent

actual notice A formal notice given directly to a

party, usually using certified mail

with a receipt

adhesion contract A take-it-or-leave-it offer made by

, a party who holds most of the

power in a bargaining session

administrative law The body of rules created by

government agencies

adultery When one spouse has sexual

relations with someone outside of

marriage

affinity Related by marriage

agency A type of working relationship in

which one person represents

another person in a business

transaction with a third party

agency by When the principal's actions lead

estoppel the third party to believe that the

agent is working for the principal

agent The person who has been

authorized to do the work

agent's agent An agent who is appointed by

, another agent without the

principal's authority to do so