Business Law B.Com

Name the two parties to a contract of indemnity?

• Indemnifier

• Indianifier

• Indemnity-Holder

• None of these

A classmate is having trouble finishing a report. He'll pay you to finish it for him. What is the ethical thing to do?A classmate is having trouble finishing a report. He'll pay you to finish it for him. What is the ethical thing to do?

• Decline to do it, but ask for the money anyway or you'll tell the teacher.

• Decline to do it, explaining that you don't have time.

• Agree to do it since you have time. But decline the money because it's wrong.

• Agree to do it. You could use the money.

The U. S. Supreme Court hears cases that involve ____________.

• Constitutional cases

• Civil cases

• Criminal cases

• Tort cases

Local laws passed councils are called ____________.

• Qualification

• Propositions

• Ordinances

• Ratifications

A cashier gives you more change then she should have. The ethical choice is to ____________.

• Donate the money to a worthy cause

• Return the extra money

• Keep the money

• Spend the money

An oral contract is _______

• Legal

• Not enforceable

• Not for money

• Not legal

Offer, acceptance and consideration are all parts of a

• Covers

• Loans

• Applications

• Contract

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

• C Corporation

• LLC

• Partnership

• Sole proprietorship

If parties in a contract are not _______, the contract can be canceled.

• Accepting

• Competent

• Offering

• Offering compensation

A business organization that has members is a(n)

• Sole proprietorship

• Partnership

• LLC

• Corporation