NEW
Font size
WorksheetsBusiness Law
Total questions: 38
Worksheet time: 19mins
An oral contract is ______________________
not enforceable
not legal
not for money
legal
Offer, acceptance and consideration are all parts of
applications
loans
covers
contract
An agreement between two parties that creates an obligation is a(n)
purpose
contract
tort
offer
When someone is authorized to act on behalf of another it is governed by _____________ law.
tort
administrative
statutory
agency
A business organization where the owners are personally responsible for the business debts are a
C corporation
sole proprietorship
partnership
LLC
______________ protect the names and identifying marks of products and companies.
Trade secrets
Trademarks
Patents
Copyrights
A business run by one person is a(n)
corporation
partnership
sole proprietorship
LLC
_______ law is the area of law that guides real property, personal property, and intellectual property.
Tort
Property
Agency
Oral contracts
An ___________ is one in which some of the terms are not expressed in words.
written contract
oral contract
verbal contract
implied contract
Original works are protected by
patent
copyrights
contract
trademark
The exclusive right granted to an inventor to manufacture, use, or sell an invention is a
trademark
trade secret
copyright
patent
Courts can enforce
LLC
partnerships
defense
contracts
If parties in a contract are not _____________, the contract can be canceled.
offering
competent
offering compensation
accepting
A business organization that has members is a(n)
corporation
LLC
sole proprietorship
partnership
A business organization that has some liability protection for the owner is a(n)
sole proprietorship
LLC
corporation
partnership
Intellectual Property can be protected by
agency
tort
statues
patents
In order for a contract to be enforceable it must have
offers
acceptance
consideration
legal purpose
____________ of an offer is agreement to the terms of the offer.
Consideration
Acceptance
Competency
Offer
A corporation that has less than 30 shareholders is
C Corporation
LLC
Close
S Corporation
___________ law deals with situations where a person's behavior has caused someone else to suffer a loss or harm.
Regulatory
Tort
Agency
Statues
Promise to do something in exchange for something in return, usually money, is a(n)
consideration
offer
acceptance
legal purpose
_____________ is something of value provided by both parties in a contract
Consideration
Legal Purpose
Offer
Writing Requirement
___________Contracts have terms that are explicitly expressed, either verbally or in writing.
Express
Implied In Fact
Implied In Law
Offered
Which does not apply to a sole proprietorship?
most common
least expensive to start
owners are called members
is taxed at the personal rate
A ________________ is the simplest and least expensive multi-owner entity.
partnership
LLC
S corporation
close corporation
A(n) ______________________ combines parts of partnerships and corporations.
LLC
S Corporation
C Corporation
Sole Proprietorship
LLC stands for?
Least Limited Corporation
Limited Liability Company
Legal Liability Company
Limited Legal Corporation
A corporation is all of these but which one?
Keeps business and personal assets separate
Can sell shares to raise funds
Least expensive to start
More taxes
Which one is NOT one of the three types of corporations?
Close Corporation
C Corporation
S Corporation
T Corporation
The most common corporation is a __________ Corporation
C
S
Close
Open
Which entity does NOT pay taxes?
S-Corporation
Partnership
LLC
C-Corporation
The government uses _________________ to seize (take) private real property.
eminent domain
patents
copyrights
trademarks
There are two kinds of personal property, tangible and _____________
real
land
intangible
intellectual
Which of these would NOT be protected by Intellectual property laws?
music
art
inventions
logos
land
Which is not a form of intellectual property protection?
Patents
Copyrights
Trademarks
Inventions
___________________ document allows one person, known as an agent, to act on behalf of another person.
Power of attorney
Eminent domain
Intellectual property
Tort
McDonalds, BMW, Nike and Snapchat logos are protected by what type of intellectual property protection?
Patent
Copyright
Trademark
Literature
__________ deals with situations where one person's actions cause another person to suffer an injury that could be physical, emotional or economic.
Tort Law
Agency Law
Property Law
Intellectual property law
