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Leaving Cert People in Business
Leaving Cert People in Business
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Unit 1 chapter 1 Leaving Cert Business
Flashcards
63 cards
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Practice quiz
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Questions
63
Answers
1
a contract is a legally binding agreement between two or more parties
false
true
2
a win lose relationship is
cooperative
competitive
dynamic
3
an invitation to treat is asking somebody to enter into a deal
false
true
4
something of value passing between the two parties is which element?
consideration
capacity
intention
offer
5
people under the age of 18 can enter into a contract
false
true
6
which of the following is not a service provider
farmer
lawyers
ESB
accountant
7
when you agree to all the terms of a contract this is known as
capacity
offer
agreement
acceptance
8
Ultra vires relates which element of a contract?
consideration
capacity
offer
acceptance
9
What is a business?
an enterprise which provides goods or services
a bit of craic in the evenings
an enterprise set up to make a profit
a social club
10
one person breaking the contract is known as
frustration
agreement
breach
specific performance
11
legality of purpose means all written contracts are legal
true
false
12
An investor provides what for a business
profit
raw materials
services
money/capital
13
rescinding the contract means the contract is ended
true
false
14
a consumer buys goods or services?
false
true
15
which of the following is not an element of a contract?
invitation to treat
acceptance
offer
agreement
16
specific performance means
the judge order the contract to be fulfilled
the judge cancels the contract
compensation is paid
17
what is the name of the people affected by how the business is run?
stakeholders
steakholders
18
How many elements of a contract are there?
6
5
8
9
19
How many remedies for breach of contract are there?
3
none
2
5
20
if a footballer misses a match this is a breach of
condition
warranty
21
choose the odd one out
frustration
agreement
performance
annoyance
22
a concert being cancelled due to a storm is an example of
agreement
frustration
performance
breach
23
to have intention to contract you have to sign a contract
false
true
24
quid pro quo is related to which element of a contract?
consideration
offer
legality of purpose
acceptance
25
Manchester United and Chevrolet have which kind of relationship ?
competitive
dynamic
cooperative
26
spot the odd one out
specific performance
rescind the contract
agreement
sue for damages
27
a producers makes....
money
raw materials
services
rules & regulations
28
An Entrepreneur spots a .......... in the market
opportunity
risk
gap
idea
29
an offer can't be made by
by conduct
orally
written
price tag
30
if an offer of €1500 is accepted for a car how much is the consideration?
1500
1000
2000
500
31
Which of the following is not a stakeholder of a business
next door neighbour
investor
entrepreneur
employer
32
employers and employees only ever have a cooperative relationship
false
true
33
a relationship that is constantly changing is
competitive
dynamic
cooperative
34
entering the contract of your own free will relates to which element of a contract?
acceptance
capacity
offer
consent
35
Aer lingus and Ryanair have which kind of relationship?
cooperative
dynamic
competitive
36
which of the following is not an entrepreneur?
Mr. Bean
Bill Gates
Mark Zuckerberg
Richard Branson
37
which group of people can't enter a contract?
reverants
diplomats
engineers
teachers
38
Threatening somebody to enter into a contract makes it legally binding
true
false
39
which of these contracts does not need to be written
buying a house
hire purchase
insurance policies
buying a car
40
a band playing a concert and being paid is an example of
breach
agreement
frustration
performance
41
breach of a warranty terminates a contract
false
true
42
all business contracts are legally binding
false
true
43
spot the odd one out
IBEC (Irish Business and employers confederation)
ESB
greenpeace
TUI(Teachers union of Ireland)
44
breach of a condition terminates a contract
false
true
45
How many ways are there to terminate a contract?
3
2
4
5
46
agreement happens
unforeseen event has taken place
both parties decide to end the contract
when one person breaks the contract
the contract has been fulfilled
47
some contracts must be written to be legal
true
false
48
a bank is an investor
false
true
49
all social arrangements are legally binding
true
false
50
a contract must be written
true
false
51
when a manager shares out jobs to be done this is called
delegation
being lazy
being bossy
dalagation
52
rescinding the contract means
compensation is paid
the contract has to be followed
the contract is cancelled
the judge is ignored
53
an offer is asking somebody to enter into a deal
false
true
54
Can you can end up in court if you break a contract?
false
true
55
performance means....
both sides carry out the contract and the contract is over
one person broke the contract
both sides forget about the contract
the contract has been fulfilled
56
a manager's job is to make day to day
products
decisons
money
57
when a party rejects the terms of an offer and tries to change them this is called a
acceptance
counter-offer
offer
deal
58
if a footballer misses a training session this is breach of a
condition
warranty
59
A win - win relationship is
cooperative
competitive
dynamic
60
a consumer buys goods and services for their own use?
false
true
61
a sign in a shop window is an offer
true
false
62
suing for damages means
the judge orders compensation to be paid
the judge orders the contract to be cancelled
the judge orders the contract to be carried out
the judge orders both sides to pay money
63
an unforeseen event e.g. death or bankruptcy or flooding that ends a contract is known as;
agreement
frustration
specific performance
breach
