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business law

Authored by Nur Faizol

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business law
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42 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Laws enacted by state and federal legislatures are called

ordinances

administrative law

case law

statute

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Doctrine requiring lower courts to follow established case law

stare decisis

unconstitutional

supremacy rules

tort

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which take affect when sent?

offer

acceptance

revocation

offer and revocation

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Element of a contract that requires something of legal value must be exchanged between the parties.

consideration

capacity

offer and acceptance

genuine agreement

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What parties give and get as consideration need to be of equal economic value.

true

false

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is the law necessary?

Because people do not always follow ethics

Because people need to be punished

Laws give an idea of how to act

people are generally dishonest

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is common law?

A set of consistent rules for later courts

A precedent set by the founding fathers

The law of the people

Old fashioned laws designed in America

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