FBLA Business Law Quiz

______ define how the company will govern itself.

• Bylaws
• Goals

• Mission Statements

• Objectives

Which of the following is not a court with a specialized jurisdiction?

• Trial court

• Juvenile court

• Small claims court

• Probate court

The right or license granted by a company to an individual or group to market its products or services in a specific territory is a

• Cooperative.

• Partnership.

• Franchise.

• Corporation.

Which of the following is not an objective for the Federal Trade Commission?

• Protect consumers

• Encourage international trade

• Advance performance

• Maintain competition

At the end of his one-year lease, Tony continued to occupy his apartment and failed to procure another lease. What type of tenancy does Tony have?

• None

• Tenancy at will

• Tenancy at sufferance

• Tenancy from month to month

If the court requires that the terms of the acceptance exactly match the terms contained in the offer in order for the contract to be legally enforceable, the court is imposing the

• Matching acceptance rule.

• Unilateral rule.

• Bilateral rule.

• Mirror image rule.

A common contractual term for an employee and an independent contractor would be

• Length of term.

• Promise to pay.

• Supervision and control.

• Payment terms.

The person or party to whom goods are delivered for a purpose, such as custody or repair, without transfer of ownership is the_____.

• bailee

• trustee

• real estate broker

• independent contractor

All of the following are ethical character traits except ________.

• creativity

• honesty

• integrity

• responsibility

Capacity to contract means that the person ________.

• has the ability, according to law, to understand the contract and the consequences thereof.

• requires an executor to make contractual decisions.

• has a genuine need for the goods or services purchased.

• has ample room to store goods that are purchased.