FBLA BUSINESS LAW EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
2026/2027
acceptance The second party's unqualified
willingness to go along with the
first party's proposal
accord and A legal way to settle contractual
satisfaction disputes by which one party
agrees to accept less than the
amount due as full payment
actual authority The real power a principal gives to
an agent
actual notice A formal notice given directly to a
party, usually using certified mail
with a receipt
adhesion contract A take-it-or-leave-it offer made by
, a party who holds most of the
power in a bargaining session
administrative law The body of rules created by
government agencies
adultery When one spouse has sexual
relations with someone outside of
marriage
affinity Related by marriage
agency A type of working relationship in
which one person represents
another person in a business
transaction with a third party
agency by When the principal's actions lead
estoppel the third party to believe that the
agent is working for the principal
agent The person who has been
authorized to do the work
agent's agent An agent who is appointed by
, another agent without the
principal's authority to do so
WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
2026/2027
acceptance The second party's unqualified
willingness to go along with the
first party's proposal
accord and A legal way to settle contractual
satisfaction disputes by which one party
agrees to accept less than the
amount due as full payment
actual authority The real power a principal gives to
an agent
actual notice A formal notice given directly to a
party, usually using certified mail
with a receipt
adhesion contract A take-it-or-leave-it offer made by
, a party who holds most of the
power in a bargaining session
administrative law The body of rules created by
government agencies
adultery When one spouse has sexual
relations with someone outside of
marriage
affinity Related by marriage
agency A type of working relationship in
which one person represents
another person in a business
transaction with a third party
agency by When the principal's actions lead
estoppel the third party to believe that the
agent is working for the principal
agent The person who has been
authorized to do the work
agent's agent An agent who is appointed by
, another agent without the
principal's authority to do so
