Business Law Review

_______ protects the name and identifying symbol of a product or company.

• Copyright

• Trademark

• Trade secret

• Patent

Laws passed by legislatures are called ____________.

• Statutory laws

• Ordinances

• Precedent laws

• Common laws

State trial courts have jurisdiction over ____________.

• Federal law

• International law

• Bankruptcy law

• State law

You'll never have negative consequences if you make an ethical choice, such as pointing out a mistaken school grade or confessing you broke something.

• True - correct behavior, like making ethical choices, will always be rewarded.

• False - even if you make the right choices, you still may suffer from your actions.

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

• Donate the money to a worthy cause

• Spend the money right away

• Keep the money

• Return the extra money

A precedent law:

• Oversees an agency

• Is made by a legislature

• Is determined by a court case

• Is based on customs

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, explaining that you don't have the time.

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

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

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

After work John is planning to do some of his job tasks at home to get back on schedule. But he needs some office supplies at home. To save time and a trip to the store, he decides to take the supplies from work. Is John's action ____________.

• Ethical

• Unethical

• Illegal

What is an agreement between two parties that creates an obligation?

• Purpose

• Offer

• Contract

• Tort

An oral contract is _______.

• Not for money.

• Legal

• Not enforceable.

• Not legal.