BUSINESS LAW FBLA EXAMINATION TEST
PAPER 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
⩥ Precedent. Answer: A court decision that furnishes an authority for
deciding subsequent cases involving identical or similar facts.
⩥ Constitutional Law. Answer: The body of law derived from the U.S.
Constitution and the constitutions of the various states; the supreme law
of the land.
⩥ Statutory Law. Answer: The body of law enacted by legislative bodies
(such as Congress or state legislatures).
⩥ Administrative Law. Answer: The body of law created by
administrative agencies in the form of rules, regulations, orders, and
decisions (e.g., FTC, SEC).
⩥ Case Law. Answer: The rules of law announced in court decisions;
interprets statutes and constitutional provisions.
⩥ Common Law. Answer: The body of law developed from custom or
judicial decisions in English and U.S. courts, not attributable to a
legislature.
, ⩥ Civil Law. Answer: The branch of law dealing with the definition and
enforcement of all private or public rights (Individual vs. Individual).
⩥ Criminal Law. Answer: The branch of law that defines and punishes
wrongful actions perpetrated against the public (State vs. Individual).
⩥ Substantive Law. Answer: Law that defines, describes, regulates, and
creates legal rights and obligations.
⩥ Procedural Law. Answer: Law that establishes the methods of
enforcing the rights established by substantive law.
⩥ Jurisdiction. Answer: The authority of a court to hear and decide a
specific case.
⩥ In Personam Jurisdiction. Answer: Court jurisdiction over the
"person" involved in a legal action.
⩥ In Rem Jurisdiction. Answer: Court jurisdiction over "property" that is
located within its boundaries.
PAPER 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
⩥ Precedent. Answer: A court decision that furnishes an authority for
deciding subsequent cases involving identical or similar facts.
⩥ Constitutional Law. Answer: The body of law derived from the U.S.
Constitution and the constitutions of the various states; the supreme law
of the land.
⩥ Statutory Law. Answer: The body of law enacted by legislative bodies
(such as Congress or state legislatures).
⩥ Administrative Law. Answer: The body of law created by
administrative agencies in the form of rules, regulations, orders, and
decisions (e.g., FTC, SEC).
⩥ Case Law. Answer: The rules of law announced in court decisions;
interprets statutes and constitutional provisions.
⩥ Common Law. Answer: The body of law developed from custom or
judicial decisions in English and U.S. courts, not attributable to a
legislature.
, ⩥ Civil Law. Answer: The branch of law dealing with the definition and
enforcement of all private or public rights (Individual vs. Individual).
⩥ Criminal Law. Answer: The branch of law that defines and punishes
wrongful actions perpetrated against the public (State vs. Individual).
⩥ Substantive Law. Answer: Law that defines, describes, regulates, and
creates legal rights and obligations.
⩥ Procedural Law. Answer: Law that establishes the methods of
enforcing the rights established by substantive law.
⩥ Jurisdiction. Answer: The authority of a court to hear and decide a
specific case.
⩥ In Personam Jurisdiction. Answer: Court jurisdiction over the
"person" involved in a legal action.
⩥ In Rem Jurisdiction. Answer: Court jurisdiction over "property" that is
located within its boundaries.
