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WorksheetsLegal Concepts review_main concepts
Total questions: 12
Worksheet time: 9mins
The required element of consideration within a contract does what?
Makes sure there is no pressure or deception when creating a contratc
Ensures that everyone has the mental ability to enter into a contract
Binds the parties together through the things of value being exchanged
Creates the contract in the specific form in needs to be legally enforceable
There are _ requirements of a legally binding contract.
(a)
Allie works for Ben & Jerry's in their flavor creation department. Her co-worker, Kevin, angrily quits after an issue with his salary. Kevin then takes the Ben & Jerry's recipe and tries to sell it to a competitor. WHICH TORT WOULD BE OCCURING?
Unfair competition
Confidentiality Agreement Dispute
Stolen Trade Secrets
Contract Violation
Torts fall under
Criminal Law
Civil Law
The Government gives power to Regulatory Agencies to create and carry out law in their particular field. This is because local, state, and federal law makers do not have the ___ ___ or time to give to these agencies and their law. .
expert knowledge
doctoral training
power balance
extreme time
The purpose of a regulatory agency is to
legally bind parties together
hold others accountable for their actions when they don't do what they said they would do
Limit the liability of business owners
Create law & regulations on what can & can't be done in a particular field
Which of the following is not one of the business created regulatory agencies?
Federal Trade Comission
Securities and Exchange Commission
Enviornmental Protection Agency
Occupational Safety and Heath Administration
Transportation Securities Administration
Jessica sells her bike to Katie for $100 as long as Katie can Venmo her payment by the end of the day.
From the scenario, what is the consideration of the contract?
The bike and the $100
As long as Katie can Venmo payment by the end of the day
Both parties are entering into the contract with an offer & acceptance
They are both of legal mind to enter into the contract
Ethics is the study of values. It teaches us what we (a) do.
Because people don't always do what they should we need law. Law sets clear (a) and has consequences when people act against the law.
Business ethics is using your personal ethics and the company's ethics to make business decisions.
TRUE
FALSE
Of the 4 sections in our Legal Concepts unit,
which do you feel you need to study and review the most?
(TYPE YOUR ANSWER BELOW!)
-TORTS-
-CONTRACTS-
-REGULATORY AGENCIES-
-BUSINESS ETHICS-
