Legal Issues and Business Ownership

Question 1

A harm that is recogized by the law

Accepted Answer

Injury

Question 2

A violation of the duty

Accepted Answer

Breach

Question 3

Grant a property right to an inventor to exclude others from selling his/her invention

Accepted Answer

Patent

Question 4

A wrong against people or organizations for which the law grants a remedy.

Accepted Answer

Tort

Question 5

All businesses must obey zoning regulations.

Accepted Answer

True

Question 6

If you own a business tha trequires a license, you probably won't need to complete training

Accepted Answer

False

Question 7

States that it is illegal for business to require a customer to buy exclusively from it

Accepted Answer

Clayton Act

Question 8

Takes legal action against any business it believes has tried to monopolize an industry.

Accepted Answer

Justice Department

Question 9

Bans the sale of impure, improperly labeled drugs and cosmetics

Accepted Answer

Federal Food, Drug and Costmetic Act of 1938

Question 10

Administers laws dealing with fair competition and pursues vigorous and effective law enforce't

Accepted Answer

Federal Trade Commission

Question 11

Helps consumers correct credit card billing errors

Accepted Answer

The Fair Credit Billing Act of 1974

Question 12

Makes it illegal for competitors to get together and price set on products they sell

Accepted Answer

Sherman Act

Question 13

Legally binding agreement between two or more persons or parties

Accepted Answer

Contract

Question 14

Relationship that allows one party to act in a way that legally binds another party

Accepted Answer

Agency

Question 15

Bans unfair or deceptive actions by businesses that may cause unfair competitive advantage

Accepted Answer

Wheeler-Lea Act

Question 16

A legal obligation to do or not to do something

Accepted Answer

Duty

Question 17

Protects small businesses from unfair pricing practices.

Accepted Answer

Robinson-Patman Act

Question 18

Laws that were created that made monopolies in certain industries illegal

Accepted Answer

anti-trust laws

Question 19

Name, symbol, or special mark used to identify a business or brand of product

Accepted Answer

Trademark

Question 20

Original, creative work of an artist or inventor

Accepted Answer

Intellectual property

Question 21

Proof that the breach caused the injury

Accepted Answer

Causation

Question 22

The person who authorizes another person to enter into legal relationships

Accepted Answer

Principal

Question 23

Requires all banks to calculate credit costs in the same way.

Accepted Answer

The Truth in Lending Act of 1968

Question 24

Protects original work of authorship

Accepted Answer

Copyright

Question 25

Sets safety standards for products other than food and drugs.

Accepted Answer

The Consumer Product Safety Act of 1972

Question 26

A provisional patent application allows an inventor one year to investigate feasibility

Accepted Answer

True

Legal Issues and Business Ownership

Questions 26

Legal Issues and Business Ownership

Questions 26