Business Law

1. _______ protect the names and identifying marks of products and companies

• Copyrights

• Trade Secrets

• Trademarks

• Patents

2. A business organization where the owners are personally responsible for the business debts a(n)

• Sole proprietorship

• C Corporation

• Partnership

• LLC

Offer, acceptance and consideration are all parts of a

• Applications

• Loans

• Contract

• Covers

An _______ is one in which some of the terms are not expressed in words.

• Implied contract

• Written contract

• Oral contract

• Verbal contract

5. A business organization that has some liability protection for the owner is a(n)

• LLC

• Sole Proprietorship

• Partnership

• Corporation

6. _______ of an offer is agreement to the terms of the offer.

• Consideration

• Competency

• Acceptance

• Offer

7. In order for a contract to be enforceable it must have

• Legal Purpose

• Offers

• Acceptance

• Consideration

8. A corporation that has less that 30 shareholders is

• LLC

• C Corporation

• Close Corporation

• S Corporation

9. A business run by one person is a(n)

• Corporation

• LLC

• Sole Proprietorship

• Partnership

10. _______ law is the area of law that guides real property, personal property, and intellectual property.

• Tort

• Property

• Oral contracts

• Agency