Business law Pretest

A legally enforceable agreement between two or more parties

• Breach
• Contract
• Partnership
• Legally Binded Partition

Which one is not a right a consumer has

• Consumer gains clear title to the good
• Goods must match the sample
• Productions must be fit for purpose
• Consumers can receive a refund on all occasions

The competition and consumer act 2010 restricts certain behaviours, which one isn't on there?

• Exclusionary provisions
• Price fixing
• Changing production trends
• Exclusive Dealing

Which one is true: Contracts must also have

•  No misrepresentation, duress or undue influence
• Give time to their business partners
• Money or free items
• A set abide of rules following the 2010 Act.

A tort is:

• A civil wrong action in which breaches ones personal rights
• the breach of ones personal right and property
• The taking of someone's stuff
• the infringement of the rights of one individual by another

Negligence is when...

• a person breaches ones personal property, in return affecting their social status.
• someone should exercise a duty of care fails to do so and a second party suffers loss or damage due to that failure.
• the breach of ones rights, in turn causing damage to a second party resulting in suffering and failure.
• a party denies ones business proposition, which can affect their company and cause a suffering to occur.

Which of the four basic elements of a successful negligence claim is false?

• Duty of care owed
• Duty of care breached
• Foreseeable damage result
• Change in the nature of the person

Businesses are allowed to setup anywhere, as long as they are registered and have the funds available. 

• False
• True

Do taxation laws apply to all businesses

• Yes
• No

If a business randomly becomes a partnership, are new laws and regulations required?

• Yes
• No