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BUS/415 Terminology Review
Test Description: Review of business law concepts
Instructions: Answer all questions to get your test result.
1) The change in a relation of partners caused by any partner ceasing to participate.
A
Disaffirmance
B
Dissension
C
Dissolution
D
Dissolve
2) A fictitious legal entity that is created according to statutory requirements.
A
Sole Proprietorship
B
Corporation
C
Incorporation
D
LLC
3) Use of a substantial and material part of another’s copyrighted work without permission?
A
Copyright infringement
B
Plagiarism
C
Disaffirmation
D
Patent infringement
4) Protects the use of intellectual property.
A
copywrite
B
patent
C
fair use doctrine
D
possession
5) Acts of the agent committed outside the scope of his or her authority.
A
Express agency
B
Implied agency
C
Agency by ratification
D
Apparent agency
6) Authority created by public endorsement.
A
Express agency
B
Agency by ratification
C
Apparent agency
D
Implied agency
7) Which type of contract refers to a promiseto a promise?
A
Bilateral contract
B
Bail bond
C
Informal contract
D
Contracts minors
8) What goods or services can a minor legally contract?
A
Cell phone service
B
Internet service
C
car sale
D
Room service
9) Which of the following can cause a termination of an offer by operation of law?
A
Supervening illegality
B
Lapse of time
C
Destruction of the subject matter
D
All of the above
10) Which of the following does not constitue fraud?
A
The innocent party was injured.
B
The innocent party justifiably relied on the misrepresentation.
C
The wrongdoer made a false representation of material fact
D
The innocent party disagree's with the contract terms.
*select an answer for all questions
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