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B387- Business Law- Finals Review 2016 Part 2 Flashcards | StudBud
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B387- Business Law- Finals Review 2016 Part 2
B387- Business Law- Finals Review 2016 Part 2
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1
If I were to refuse an offer from Steve, it would be called
Revocation
Lapse of time
Rejection
Contractual Capacitation
2
If you were found guilty of breaking someones window, the cost of the window would be the
Punitive Damages
Monetary Arraignment
Irrelevant in the Case
Compensatory Damages
3
the type of "contract" you enter in when you walk into a salon to get your haircut
Simple
Implied
Express
Quasi
4
If there were a case where both parties were found guilty, then the payments would be..
Contributory
Punitive
Comparative
Compensatory
5
This type of compensation is typically a punishment ordered by the court in $$$$
compensatory damages
punitive damages
Comparative damages
contributory damages
6
If U were to give Rob an offer expiring in a week and U sold the item to Tim 2 days later...
That is completely within my rights
That is illegal and the offer is open to Rob
the contract no longer exists with Tim
Tim legally is required to offer the item to Rob in 5 days
7
What is it called If someone withdraws their offer before a potential offeree accepts the offer
Counteroffer
Contraction Option
Revocation
Rejection
8
What is the best defense against someone charging you with negligence of hitting their car
Reasonable Person Standard
Contributory Negligence
Lack of Intent
Strict Liability
9
The Type of liability where companies and businesses are responsible for injuries from defects
Comparative
Punitive
Strict
Vicarious
10
Refraining from doing something you have a legal right to do (Ex: Smoking Cigarettes)
Forbearance
Affirmance
Ratifiction
Recission
11
A contract that is written or oral with specific criteria, consideration, and terms
Void
Express
Implied
Bilateral
12
I offer you my car for a fair price and told you had till Sunday to decide/ That would be a
Firm Offer
Counter Offer
Voidable Offer
Revocation
13
An appearance before the judge in which the charges are stated to the defendant is called ___
Plea
Arraignment
Summons
Indictment
14
A "Non-Compete Clause" in an employment contract means....
That you will Never leave the company
That you will not compete with your Co-Workers for business
That you cannot compete with that company if you ever left
That you are discourage from conflicting with your boss
15
A non-business agreement or promise that is not legally enforceable by law. Ex: a prom date
Valid Contract
Voidable Contract
Social Agreement
Bilateral Contract
16
T/F: A counteroffer terminates the original offer with new terms, conditions, and consideration
False
True
17
IF you were forced into a contract due to a threatening situation, this would be considered
Fraud
Undue Influence
Bribery
Duress
18
If you see someone having a heart attack and you pretend not to see them and walk away....
Liability
Negligence
Defamation
Affiliation
19
In order for a contract to be valid or ratified, it must be communicated...
Within 10 Days of the Offer
In Writing
Directly to the Offerer
Orally
20
If Bill offered to sell his car to Tom, then Bill passes away what happens?
The offer is still available to Tom
The Offer is Terminated
The offer is Voidable
There must be a counteroffer
21
Which of the following is true about an offer?
Must be communicated to the offeree
It must be complete and definite with terms and conditions
It MUST be in writing
None of them
22
If you were a parent and your kid had a party involving drinking.You might be liable due to
Absolute Liability
Strict Liability
Negligence
Vicarious Liability
23
Which of the following crimes is considered to be the most "severe"?
Misdemeanor
Violation
Felony
Infraction
24
Any contract that is induced by fraud, duress, or undue influence is
Automatically Void
Voidable at the option of the injured party
Voidable at the option of either party
Terminated Immediately
25
who cannot legally be help liable for their torts?
Minors
They all can be liable
Protected Class Members
Legally Insane People
