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Worksheets

Business Law

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

An oral contract is _______

a)

Legal

b)

Not enforceable

c)

Not for money

d)

Not legal

2.

Offer, acceptance and consideration are all parts of a

a)

Covers

b)

Loans

c)

Applications

d)

Contract

3.

An agreement between two parties that creates an obligation is a(n)

a)

Contract

b)

Tort

c)

Offer

d)

Purpose

4.

When someone is authorized to act on behalf of another it governed by _______ law

a)

Agency

b)

Tort

c)

Statutory

d)

Administrative

5.

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

a)

C Corporation

b)

LLC

c)

Partnership

d)

Sole proprietorship

6.

_______ protect the names and identifying marks of products and companies.

a)

Patents

b)

Trademarks

c)

Trade secrets

d)

Copyrights

7.

A business run by one person is a(n)

a)

Corporation

b)

LLC

c)

Sole proprietorship

d)

Partnership

8.

_______ law is the area of law that guides real property, personal property, and intellectual property.

a)

Tort

b)

Property

c)

Oral contracts

d)

Agency

9.

An _______ is one in which some of the terms are not expressed in words.

a)

Oral contract

b)

Verbal contract

c)

Written contract

d)

Implied contract

10.

Original works are protected by

a)

Copyrights

b)

Trademark

c)

Patent

d)

Contract

11.

The exclusive right granted to an inventor to manufacture, use, or sell an invention is a

a)

Trademark

b)

Trade secret

c)

Copyright

d)

Patent

12.

Courts can enforce

a)

LLC

b)

Partnership

c)

Defense

d)

Contracts

13.

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

a)

Accepting

b)

Competent

c)

Offering

d)

Offering compensation

14.

A business organization that has members is a(n)

a)

Sole proprietorship

b)

Partnership

c)

LLC

d)

Corporation

15.

A business organization that has some liability protection for the owner is a(n)

a)

Corporation

b)

Partnership

c)

LLC

d)

Sole proprietorship

16.

Intellectual Property can be protected by

a)

Patents

b)

Agency

c)

Tort

d)

Statues

17.

In order for a contract to be enforceable it must have

a)

Acceptance

b)

Consideration

c)

Offers

d)

Legal Purpose

18.

_______ of an offer is agreement to the terms of the offer.

a)

Competency

b)

Consideration

c)

Acceptance

d)

Offer

19.

A corporation that has less that 30 shareholders is

a)

LLC

b)

C Corporation

c)

Close

d)

S Corporation

20.

_______ law deals with situations where a person's behavior has caused someone else to suffer a loss or

harm.

a)

Tort

b)

Regulatory

c)

Agency

d)

Statues