Question 1

Defamation delivered orally is called libel.

Accepted Answer

A) True 
 B)False

Question 2

Capacity is a legal relationship between two parties in which one party acts on behalf of, and under the control of, another.

Accepted Answer

A) True 
 B)False

Question 3

A contract can be enforced only if it has:

Accepted Answer

A)  one party has agreed to the contract. 
B)  one party must agree to perform some act. 
C)  both parties must be over age 25. 
D)  the purpose of the contract must be legal. 
A)  one party has agreed to the contract. 
B)  one party must agree to perform some act. 
C)  both parties must be over age 25. 
D)  the purpose of the contract must be legal.

Question 4

Manufacturers, but not retailers. may be held liable for breach of warranty.

Accepted Answer

A) True 
 B)False

Question 5

Offer and acceptance are the two parts of consideration in a contract.

Accepted Answer

A) True 
 B)False

Question 6

In _____, a crime such as robbery or homicide has occurred and a person found guilty of committing the crime can be fined or sent to jail.

Accepted Answer

A)  civil law 
B)  criminal law 
C)  statutory law 
D)  administrative 
A)  civil law 
B)  criminal law 
C)  statutory law 
D)  administrative

Question 7

The basic obligation that one person owes another not to cause harm or an unreasonable risk of harm is called _____.

Accepted Answer

A)  cause of duty 
B)  cause in fact 
C)  actual cause 
D)  duty of care 
A)  cause of duty 
B)  cause in fact 
C)  actual cause 
D)  duty of care

Question 8

The direct causeandeffect relationship between the defendant's action and the plaintiff's injury is called a cause in fact.

Accepted Answer

A) True 
 B)False

Question 9

An implied warranty of fitness for a particular purpose affirms that the product is fit for some specific use.

Accepted Answer

A) True 
 B)False

Question 10

The standard for determining proximate cause is generally foreseeability.

Accepted Answer

A) True 
 B)False

Question 11

A contract is _____.

Accepted Answer

A)  an exchange of a promise for an act 
B)  is legally enforceable 
C)  must have an offerer and an offeree 
D)  all of the above 
A)  an exchange of a promise for an act 
B)  is legally enforceable 
C)  must have an offerer and an offeree 
D)  all of the above

Question 12

In the United States, warranties are established by the Occupational Safety and Health Act (OSHA).

Accepted Answer

A) True 
 B)False

Question 13

Assault and battery violates statutes established by two different types of law-criminal and civil.

Accepted Answer

A) True 
 B)False

Question 14

Tort reform is a movement to stem the swelling tide of personal-injury litigation in the U.S.

Accepted Answer

A) True 
 B)False

Question 15

What is agency Give an example of a principal-agent relationship.

Accepted Answer

Agency is a legal relationship between t

Question 16

Private law deals with the relationship of government to private individuals and other private entities.

Accepted Answer

A) True 
 B)False

Question 17

Businesses must be aware of ______. Which is the legal responsibility of manufacturers, wholesalers, and retailers to the buyers or users for the damages or injuries caused by the use of their defective products.

Accepted Answer

A)  tort law 
B)  injury laws 
C)  product liability 
D)  warranty law 
A)  tort law 
B)  injury laws 
C)  product liability 
D)  warranty law

Question 18

Most actions of any kind set in motion a series of consequent actions, and the court must decide the point beyond which a defendant is no longer liable for these actions. This point is called _____.

Accepted Answer

A)  proximate cause 
B)  cause in fact 
C)  actual cause 
D)  cause of duty 
A)  proximate cause 
B)  cause in fact 
C)  actual cause 
D)  cause of duty

Question 19

Negative externalities are costs borne by _____ who are _____ the basic transactions.

Accepted Answer

A)  other people / outside 
B)  product users / a part of 
C)  customers / external to 
D)  clients / internal to 
A)  other people / outside 
B)  product users / a part of 
C)  customers / external to 
D)  clients / internal to

Question 20

Law governing disputes between private parties is called _____.

Accepted Answer

A)  intentional tort 
B)  criminal law 
C)  civil law 
D)  liability tort 
A)  intentional tort 
B)  criminal law 
C)  civil law 
D)  liability tort

Defamation delivered orally is called libel.

Capacity is a legal relationship between two parties in which one party acts on behalf of, and under the control of, another.

A contract can be enforced only if it has:

Manufacturers, but not retailers. may be held liable for breach of warranty.

Offer and acceptance are the two parts of consideration in a contract.

In _____, a crime such as robbery or homicide has occurred and a person found guilty of committing the crime can be fined or sent to jail.

The basic obligation that one person owes another not to cause harm or an unreasonable risk of harm is called _____.

The direct causeandeffect relationship between the defendant's action and the plaintiff's injury is called a cause in fact.

An implied warranty of fitness for a particular purpose affirms that the product is fit for some specific use.

The standard for determining proximate cause is generally foreseeability.

A contract is _____.

In the United States, warranties are established by the Occupational Safety and Health Act (OSHA).

Assault and battery violates statutes established by two different types of law-criminal and civil.

Tort reform is a movement to stem the swelling tide of personal-injury litigation in the U.S.

What is agency Give an example of a principal-agent relationship.

Private law deals with the relationship of government to private individuals and other private entities.

Businesses must be aware of ______. Which is the legal responsibility of manufacturers, wholesalers, and retailers to the buyers or users for the damages or injuries caused by the use of their defective products.

Most actions of any kind set in motion a series of consequent actions, and the court must decide the point beyond which a defendant is no longer liable for these actions. This point is called _____.

Negative externalities are costs borne by _ who are _ the basic transactions.

Law governing disputes between private parties is called _____.

The Foundations of Business

Business Ethics and Social Responsibility

Business in a Global Environment

Selecting a Form of Business Ownership

The Challenges of Starting a Business

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Teamwork and Communications

Marketing: Providing Value to Customers

Product Design and Development

Operations Management in Manufacturing and Service Industries

The Role of Accounting in Business

Managing Financial Resources

Personal Finances

Managing Information and Technology

Filters

Exam 16: The Legal and Regulatory Environment of Business

Defamation delivered orally is called libel.

Capacity is a legal relationship between two parties in which one party acts on behalf of, and under the control of, another.

A contract can be enforced only if it has:

Manufacturers, but not retailers. may be held liable for breach of warranty.

Offer and acceptance are the two parts of consideration in a contract.

In _____, a crime such as robbery or homicide has occurred and a person found guilty of committing the crime can be fined or sent to jail.

The basic obligation that one person owes another not to cause harm or an unreasonable risk of harm is called _____.

The direct causeandeffect relationship between the defendant's action and the plaintiff's injury is called a cause in fact.

An implied warranty of fitness for a particular purpose affirms that the product is fit for some specific use.

The standard for determining proximate cause is generally foreseeability.

A contract is _____.

In the United States, warranties are established by the Occupational Safety and Health Act (OSHA).

Assault and battery violates statutes established by two different types of law-criminal and civil.

Tort reform is a movement to stem the swelling tide of personal-injury litigation in the U.S.

What is agency Give an example of a principal-agent relationship.

Private law deals with the relationship of government to private individuals and other private entities.

Businesses must be aware of ______. Which is the legal responsibility of manufacturers, wholesalers, and retailers to the buyers or users for the damages or injuries caused by the use of their defective products.

Most actions of any kind set in motion a series of consequent actions, and the court must decide the point beyond which a defendant is no longer liable for these actions. This point is called _____.

Negative externalities are costs borne by _____ who are _____ the basic transactions.

Law governing disputes between private parties is called _____.

The Foundations of Business

Business Ethics and Social Responsibility

Business in a Global Environment

Selecting a Form of Business Ownership

The Challenges of Starting a Business

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Teamwork and Communications

Marketing: Providing Value to Customers

Product Design and Development

Operations Management in Manufacturing and Service Industries

The Role of Accounting in Business

Managing Financial Resources

Personal Finances

Managing Information and Technology

Filters

Negative externalities are costs borne by _ who are _ the basic transactions.