Business law Practice Final One

The meeting at which title to real property is transferred from seller to buyer.

writing drawn in special form which can b transfered from prsn to prsn as substitute 4 money or an instrument of credit

U is union representing info technology. They bargain 4 employees of ABC corp 2 reach an agreement w leadership.

a broker is an agent whose job is to bring a willing seller and buyer together to form a contract

Condemnation is also known as.

outrage is known as

legal action taken by landlord to force tenant to leave

A tendency at sufferance comes into existence when a lease ends and landlord allows tenant to remain on the premises.

The cost of borrowing money stated in dollars and cents

coupon allowing customer to purchase out of stock item later at sale price

oral proof of any changes to a writing ___ the written contract was made can be presented in court

F wishes to prevent creditor from taking yacht in attempt to cashout $ and run without paying debts. Should file for??

charging a person w a crime and asking for that persons S plea

The most common type of business bailment is known as.

check drawn on banks own funds

if act is committed in furtherance of the principals/employers business, generally considered 2 b within scope of agency

A Bailees acceptance of property for worker services is also an assurance of the Bailees skill to use the property.

A contract in which an offer agrees to keep the offer open for a certain period of time, or until a certain date.

laws that are passed by local governments such as cities, towns and villages

exculpatory cualuses are ___ by courts

All property which is not real property

the equal credit opportunity act limits the questions a creditor can ask for potential borrowers

The type of authority the principle actually gives the agent either orally or in writing.

gives up posession of personal property to another

Antitrust laws are intended to promote the concept of monopolies.

An obligation of a corporation to repay a loan to it over a fixed period of time and a fixed rate.

the contract existing between the cosignor and the carrier

decision of higher court should serve as guide and control decisions of similar cases in future

summary of transactions affecting title to real property is abstract of title

person who accepts possession of anothers personal property

monopolies resulting from law or reasonable business are prevented by law

The witness to a testator's signature must be.

the right to possess, use and dispose of something under protection of law

The party appointed by the principal to enter into a contract with a 3rd party on behalf of the principal

An annuity provides a guaranteed income to the annuity holder.

the agreement between owner and broker listing brokers rights and obligations in selling owners real property

parents generally ____ legal liability for contracts made by their minor children acting on their own

If DJ is contracted to perform. and a month later is canceled on and the DJ cannot find bookings to replace it he may..

person hired to preform work & obligated to the work to be done as to the manner it is to be done

person against whom legal action is brought

a bailment can be created by the actions of the parties invoved

considered goods under the UCC

request to a higher court to review a lower court S decision

Personal property_____ be transfered by delivery

Personal property attached to land or a building and is considered real property.

criminal law is also known as

the parties who are first responsible for paying a negotiable instrument are known as

a buyer may accept non-conforming goods then sue seller based on breach of warranty

those having title to one or more Shares of stock in a corporation combined they represent ownership of corporation

Non wage advances received by an employee from an employer.

A bank won't loan money to an applicant unless the applicant puts up property to secure the loan This would likely be

which of the following can b inspected by employee in regards to their personal employment records *PICK 3*

the insured payes ____ for coverage of an insurance policy

Which situation would title pass from seller to buyer at time of contract

3rd party agreeing to b primarily responsible for another persons debt if debtor defaults

defects that occur during construction or production

formal written statement responding to a civil complaint by the defendant is

presentment and notice of dishonor cannot be waived by the parties

owner of land locked parcel of land isnt entitled to a easement across land of neighbors in order to get to his property

one function of government regulation is to protect the rights of business owners so that competition is maintained

rule established and enforceable by a government to regulate the conduct of individuals and groups in society.

fam wishes to incorporate fam business of making oil to keep control within the family. The best type of corporation

person who is not a party to contract to whom the promisor of a contract owes an obligation or duty

bailment created to promote justice and fair play would be

written defimation of character is known as

right to pay for goods/services after they are recieved

consideration ____ be made in form of not doing something you are normally able to do

principle is legally responsible to 3rd parties 4 contracts their agent makes, agent must operate within authority given

one who inherits property according to relationship w deceased

A buyer has a ____ to inspect products before payment

extraordinary bailment

transports goods or people for pay

receiving property through terms of a deceased will or through laws of descent and distribution upon death of intestate

the basic test of unconscionability under the UCC

exceeding the maximum rate of interest which may be charged on loands

an association of two or more companies/persons engaged in a common project

a person who lends money or sells goods on credit is known as

The questioning of potiential jurors is known a

a bailee must ____ accept possession of bailed property

organization responsible for enforcement of consumer laws protecting against false advetisment

Estate for a duration of a person's life

bank assured check; drawer has sufficent funds

a demurrage is a fee charged for unreasonably delaying equipment of a common carrier

a bailment can be made with real property

the requirement that seller tender goods that meet requirements of contract

A partnership is not a legal entity for tax purposes

Proof of settlement of a claim is known as.

an executor __ personally responsible for debts of deceased

In a sole proprietorship, the ____ Has full responsibility for managing a business.

A gift of real property in a will is known as.

an insurance company tries to collect money from person who caused accident, this is known as?

a temporary insurance policy is called

A person to whom an offer is made.

individual who purchases goods, products, services for personal use

every person is a consumer at one time or another