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BusinessLawFoundationalConcepts.docxBusiness Law Foundational Concepts
Introduction
Formative Activity Introduction Modal Description
Instructions
This activity is being used to establish common definitions. Select the correct definition or attribute for each term.
Foundational Legal Terminology
Question 1 of 52
Arbitration
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 2 of 52
Trial Court
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 3 of 52
U.S. Constitution
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 4 of 52
Damages
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 5 of 52
Prima facie case
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 6 of 52
Majority opinion
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 7 of 52
Waiver
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 8 of 52
Dissenting opinion
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 9 of 52
Statutory law
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 10 of 52
Common Law
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 11 of 52
Appellate Court
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 12 of 52
Concurring opinion
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 13 of 52
Mediation
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Question 14 of 52
Stare decisis
a. A higher court that reviews the decision of a lower court when a losing party files an appeal.
b. A form of alternate dispute resolution that uses an arbitrator who acts like a judge to decide a dispute between parties. The American Arbitration Association is commonly a provider of this service or parties may make private arrangements to hire an arbitrator of their choice.
c. Developed in the judicial system of England and its colonies before 1776; it consists of quotable statements taken from relevant opinions by prior judges, as well as ancient statutes, and is often summarized in legal treatises.
d. A written opinion by a judge or justice who agrees with the conclusion reached by the majority of the court but not necessarily with the legal reasoning that led the conclusion.
e. In a lawsuit, the harm caused to a party who is injured.
f. A written opinion in which a judge or justice, who does not agree with the conclusion reached by the majority of the court, expounds his or her views on the case.
g. A written opinion outlining the views of the majority of the judges or justices deciding a particular case.
h. A form of assisted negotiation involving the assistance of a third party as a means of facilitating negotiation.
i. Latin for n"at first lookn" or n"on its face;n" a case that at first glance presents sufficient evidence for the plaintiff to win.
j. A Latin phrase meaning n"to stand on decided cases.n"
k. The body of law that is enacted by state and federal legislatures.
l. The court that has original jurisdiction and holds the original trial where all the evidence is first received and considered.
m. The supreme law of the United States.
n. The intentional and voluntary giving up of a right, either by an express statement or by conduct.
This question has not yet been answered.
Contracts and Bankruptcy Terminology
Question 15 of 52
Breach
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 16 of 52
Capacity
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 17 of 52
Consideration
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 18 of 52
Risk of Loss
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 19 of 52
Novation
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 20 of 52
Consumer credit
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 21 of 52
Agreement
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 22 of 52
Bankruptcy
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 23 of 52
Substantial performace
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 24 of 52
Implied contract
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Question 25 of 52
Statute of Frauds
a. Occurs when two parties reach an understanding and is formed by the elements of Offer and Acceptance.
b. In bankruptcy, certain contracts can be cancelled.
c. A failure or violation of a legal obligation.
d. The legal competency of a person to enter into a contract. For example, a minor or a mentally ill person may lack capacity.
e. The requirement that a contract involve a quid pro quo or exchange of value. Without consideration, a contract is not enforceable; therefore, a one-sided promise to give a person money without requiring anything at all in return is not enforceable.
f. The borrowing capacity extended to an individual for the purchase of consumer goods or services.
g. A contract that is found to exist even when its terms are not explicitly stated because 1) the parties assumed a contract existed (implied-in-fact contract), or 2) denying the contract's existence would result in unjust enrichment to one of the parties (implied-in-law contract).
h. An agreement between the contracting parties to substitute a third party for one of the original parties.
i. The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.
j. A law in every state that requires certain types of documents to be in writing and signed by the party to be charged.
k. A good faith performance that does not vary greatly from the contract and confers the same benefits as promised in the contract.
This question has not yet been answered.
Tort Law Terminolgy
Question 26 of 52
Assumption of Risk
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 27 of 52
Causation
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 28 of 52
Defamation
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 29 of 52
Gender bias
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 30 of 52
Trade secrets
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 31 of 52
Trademark
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 32 of 52
Strict Liability
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 33 of 52
Tort
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 34 of 52
Patent
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 35 of 52
Copyright
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 36 of 52
Secondary meaning
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 37 of 52
Gross Negligence
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 38 of 52
Product liability
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 39 of 52
Fair use
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 40 of 52
Infringement
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 41 of 52
Negligence
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Question 42 of 52
Equal Employment Opportunity Commission (EEOC)
a. An affirmative defense in a negligence case, in which the defendant claims that the situation (taking a ski-lift, climbing a steep cliff) was so inherently or obviously hazardous that the injured plaintiff must have known of the risk, but took the chance of being injured.
b. The reason something happens. To hold someone responsible for harm to another person, the one must have caused the injury to the other.
c. Exclusive rights granted to the author of a creative work such as book, movie, song, painting, photograph, design, computer software, or architecture.
d. A false statement that harms a person's reputation. If the statement is published, it is libel; if spoken, it is slander.
e. The federal agency responsible for interpreting and enforcing laws that prohibit employment discrimination, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, and the Americans with Disabilities Act.
f. A defense to infringement of intellectual property. May include use for solely educational and nonprofit purposes, using only a small portion of the work, parody, satire, comedy, commentary, news reporting, or criticism of the work.
g. Prejudice against people of a particular sex, usually women, and may result in discriminatory treatment or unequal opportunity.
h. A lack of care that demonstrates reckless disregard for the safety or lives of others, which is so great it appears to be a conscious violation of other people's rights to safety.
i. The use of legally protected intellectual property without permission by the owner or legally sanctioned exceptions (such as fair use, for example).
j. Failure to exercise the care toward others that a reasonable or prudent person would use in the same circumstances or taking action that such a reasonable person would not, resulting in unintentional harm to another.
k. A grant by the U.S. Patent and Trademark Office (USPTO) that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of a new innovation.
l. The responsibility of manufacturers, distributors, and sellers of products to the public, to deliver products free of defects that harm someone and to make good on that responsibility if the products are defective.
m. A requirement for protection of a trademark referring to the mark’s likely recognition by consumers.
n. Automatic responsibility for damages due to manufacture or use of equipment or materials that are considered inherently dangerous.
o. An injury to one person for which the person who caused the injury is legally responsible.
p. Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it.
q. A word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish it from competitors.
This question has not yet been answered.
Business Entities Terminology
Question 43 of 52
Sole Proprietorship
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
This question has not yet been answered.
Question 44 of 52
Limited Liability Company
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
This question has not yet been answered.
Question 45 of 52
Piercing the Corporate Veil
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
This question has not yet been answered.
Question 46 of 52
Bylaws
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
This question has not yet been answered.
Question 47 of 52
Shareholder
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
This question has not yet been answered.
Question 48 of 52
Partnership
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
This question has not yet been answered.
Question 49 of 52
S Corporation
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
This question has not yet been answered.
Question 50 of 52
Limited Partnership
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
This question has not yet been answered.
Question 51 of 52
Franchise
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
This question has not yet been answered.
Question 52 of 52
Articles of Incorporation
a. A document filed with state authorities (usually the Secretary of State or Division of Corporations, depending on the state) to form a corporation.
b. The rules that govern the internal affairs or actions of a corporation. Bylaws are adopted by the shareholders or the board of directors of a corporation.
c. To grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name.
d. A business ownership structure that shields its owners' personal assets through the doctrine of limited liability (like a corporation) but has pass-through taxation (like a partnership), where profits (or losses) are passed through to the owners and taxed on their personal income tax returns.
e. A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability.
f. Refers to a legal structure for a business of two or more individuals; called a general partnership when used without a qualifier such as n"limitedn" or n"limited liability.n"
g. A judicial doctrine that allows a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts of or damages caused by a corporation under their control.
h. Business entity where shareholders enjoy limited liability status, as would be true of any corporation, but be taxed as a pass-through tax entity, where income taxes are reported and paid by the owners, like a partnership or sole proprietor.
i. An owner of a corporation whose ownership interest is represented by shares of stock in the corporation.
j. A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity.
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