DYNAMIC BUSINESS LAW FINAL
EXAM QUESTIONS WITH CORRECT
SOLUTIONS||100% GUARANTEED
PASS||UPDATED 2026/2027
SYLLABUS||<<NEWEST VERSION>>
Business Law Final Fall 2017
Chapter 1 Business law - ANSWER ✓ The enforceable rules of conduct that
govern the actions of buyers and sellers in market exchanges
Option contract - ANSWER ✓ agreement whereby the offeree gives the offeror a
piece of consideration in exchange for the offeror's agreement to hold the offer
open for the specified period of time
Mirror-image rule - ANSWER ✓ principle that holds that the terms of the
acceptance must mirror the terms of the offer; if the terms of the acceptance do not
mirror the terms of the offer, no contract is formed and the attempted acceptance is
a counteroffer
Mailbox Rule - ANSWER ✓ an acceptance is valid when it is placed in the
mailbox
CHAPTER 10 - ANSWER ✓
Promissory estoppel - ANSWER ✓ Legal enforcement of an otherwise
unenforceable contract due to a party's detrimental reliance on the contract
Illusory Promise - ANSWER ✓ situation in which a party appears to commit to
something but really has not committed to anything; not a promise therefore not
consideration
Unforeseen circumstances - ANSWER ✓ Events that a reasonable person would
not be expected to anticipate
,Liquidated debt - ANSWER ✓ Debt for which there is no dispute between the
parties about the fact that money is owed and the amount of money owed
Unliquidated debt - ANSWER ✓ Debt for which the parties either dispute the fact
that any money is owed or agree that some money is owed but dispute the amount
Accord and satisfaction - ANSWER ✓ An arrangement between contracting
parties whereby one of the parties substitutes a different performance for his or her
original duty under the contract
actus reus - ANSWER ✓ Latin for "guilty act"; a wrongful behavior that is
associated with the physical act of a declared crime.
affirmative defense - ANSWER ✓ A defendant's response to a plaintiff's claim in
which the defendant attacks the plaintiff's legal right to bring the action. Common
affirmative defenses are expiration of the statute of limitations, mistake of fact,
intoxication, insanity, duress, and entrapment.
arraignment - ANSWER ✓ The first appearance in court by the defendant, at
which the defendant is advised of the pending charges, the right to counsel, and the
right to trial by jury and he or she enters a plea to the charge.
arrest - ANSWER ✓ The action in which the police, or a person acting under the
law, seize, hold, or take an individual into custody.
arson - ANSWER ✓ The crime of intentionally setting fire to another's property.
bail - ANSWER ✓ A thing of value, such as a money bail bond or any other form
of property, that is given to the court to temporarily allow a person's release from
jail and to ensure his or her appearance in court.
bench trial - ANSWER ✓ A trial before a judge, with the judgment decided by
the judge rather than a jury; occurs when the defendant has waived his or her right
to a jury trial.
, booking - ANSWER ✓ After an individual is arrested, the procedure of recording
the name of the defendant and the alleged crime in the investigating agency's or
police department's records.
bribery - ANSWER ✓ A corrupt and illegal activity in which a person offers,
gives, solicits, or receives money, services, or anything of value in order to gain an
illicit advantage.
burden of proof - ANSWER ✓ To convict a defendant, prove to the jury or court,
beyond any reasonable doubt, that the defendant committed all the essential
elements of the crime.
burglary - ANSWER ✓ A crime in which someone unlawfully enters a building
with intent to commit a felony or theft.
computer crime - ANSWER ✓ Crime that is committed using a computer.
concealment The active hiding of the truth about a material fact.
cyber terrorist - ANSWER ✓ A hacker whose intention is the exploitation of a
target computer or network to create a serious impact, such as the crippling of a
communications network or the sabotage of a business or organization, which may
have an impact on millions of citizens if the terrorist's attack is successful.
duress - ANSWER ✓ Any unlawful act or threat exercised on a person whereby
the person is forced to enter into an agreement or to perform some other act against
his or her will.
embezzlement - ANSWER ✓ A wrongful conversion of another's funds or
property by one who is lawfully in possession of those funds or that property.
entrapment - ANSWER ✓ A relatively common defense under which the
defendant claims that he would not have committed the crime or broken the law if
he had not been induced or tricked into doing so by law enforcement officials.
extortion - ANSWER ✓ A criminal offense in which a person obtains money,
property, and/or services from another by wrongfully threatening or inflicting harm
to his or her person, property, or reputation. Also called blackmail.
, false pretenses - ANSWER ✓ A materially false representation of an existing
fact, with knowledge of the falsity of the representation and with the intent to
defraud.
felony - ANSWER ✓ A serious crime, such as murder, rape, or robbery, that is
punishable by imprisonment for more than one year or death.
first appearance - ANSWER ✓ The initial appearance of an arrested individual
before a judge, who determines whether there was probable cause for the arrest. If
the judge ascertains that probable cause did not exist, the individual is freed.
forgery - ANSWER ✓ The fraudulent making or altering of a writing in a way
that changes the legal rights and liabilities of another and with the intent to deceive
or defraud.
fraud - ANSWER ✓ (1) An intentional deception that causes harm to another. (2)
A basis for contesting a will if the testator relied on false statements when he or
she made the will.
hacker - ANSWER ✓ A person who illegally accesses, or enters, another person's
or company's computer system to obtain information or steal money.
indictment - ANSWER ✓ A finding by the grand jury that there is evidence to
charge the defendant and bring him or her to trial.
information - ANSWER ✓ A finding by a magistrate that there is enough
evidence to charge the defendant and bring her or him to trial.
insider trading - ANSWER ✓ Illegal buying or selling of a corporation's securities
by corporate insiders, such as officers and directors, on the basis of material,
nonpublic information and in breach of a fiduciary duty or some other relationship
of trust and confidence.
justifiable use of force - ANSWER ✓ The use of force that is necessary to prevent
imminent death or great bodily harm to oneself or another or to prevent the
imminent commission of a forcible felony.
EXAM QUESTIONS WITH CORRECT
SOLUTIONS||100% GUARANTEED
PASS||UPDATED 2026/2027
SYLLABUS||<<NEWEST VERSION>>
Business Law Final Fall 2017
Chapter 1 Business law - ANSWER ✓ The enforceable rules of conduct that
govern the actions of buyers and sellers in market exchanges
Option contract - ANSWER ✓ agreement whereby the offeree gives the offeror a
piece of consideration in exchange for the offeror's agreement to hold the offer
open for the specified period of time
Mirror-image rule - ANSWER ✓ principle that holds that the terms of the
acceptance must mirror the terms of the offer; if the terms of the acceptance do not
mirror the terms of the offer, no contract is formed and the attempted acceptance is
a counteroffer
Mailbox Rule - ANSWER ✓ an acceptance is valid when it is placed in the
mailbox
CHAPTER 10 - ANSWER ✓
Promissory estoppel - ANSWER ✓ Legal enforcement of an otherwise
unenforceable contract due to a party's detrimental reliance on the contract
Illusory Promise - ANSWER ✓ situation in which a party appears to commit to
something but really has not committed to anything; not a promise therefore not
consideration
Unforeseen circumstances - ANSWER ✓ Events that a reasonable person would
not be expected to anticipate
,Liquidated debt - ANSWER ✓ Debt for which there is no dispute between the
parties about the fact that money is owed and the amount of money owed
Unliquidated debt - ANSWER ✓ Debt for which the parties either dispute the fact
that any money is owed or agree that some money is owed but dispute the amount
Accord and satisfaction - ANSWER ✓ An arrangement between contracting
parties whereby one of the parties substitutes a different performance for his or her
original duty under the contract
actus reus - ANSWER ✓ Latin for "guilty act"; a wrongful behavior that is
associated with the physical act of a declared crime.
affirmative defense - ANSWER ✓ A defendant's response to a plaintiff's claim in
which the defendant attacks the plaintiff's legal right to bring the action. Common
affirmative defenses are expiration of the statute of limitations, mistake of fact,
intoxication, insanity, duress, and entrapment.
arraignment - ANSWER ✓ The first appearance in court by the defendant, at
which the defendant is advised of the pending charges, the right to counsel, and the
right to trial by jury and he or she enters a plea to the charge.
arrest - ANSWER ✓ The action in which the police, or a person acting under the
law, seize, hold, or take an individual into custody.
arson - ANSWER ✓ The crime of intentionally setting fire to another's property.
bail - ANSWER ✓ A thing of value, such as a money bail bond or any other form
of property, that is given to the court to temporarily allow a person's release from
jail and to ensure his or her appearance in court.
bench trial - ANSWER ✓ A trial before a judge, with the judgment decided by
the judge rather than a jury; occurs when the defendant has waived his or her right
to a jury trial.
, booking - ANSWER ✓ After an individual is arrested, the procedure of recording
the name of the defendant and the alleged crime in the investigating agency's or
police department's records.
bribery - ANSWER ✓ A corrupt and illegal activity in which a person offers,
gives, solicits, or receives money, services, or anything of value in order to gain an
illicit advantage.
burden of proof - ANSWER ✓ To convict a defendant, prove to the jury or court,
beyond any reasonable doubt, that the defendant committed all the essential
elements of the crime.
burglary - ANSWER ✓ A crime in which someone unlawfully enters a building
with intent to commit a felony or theft.
computer crime - ANSWER ✓ Crime that is committed using a computer.
concealment The active hiding of the truth about a material fact.
cyber terrorist - ANSWER ✓ A hacker whose intention is the exploitation of a
target computer or network to create a serious impact, such as the crippling of a
communications network or the sabotage of a business or organization, which may
have an impact on millions of citizens if the terrorist's attack is successful.
duress - ANSWER ✓ Any unlawful act or threat exercised on a person whereby
the person is forced to enter into an agreement or to perform some other act against
his or her will.
embezzlement - ANSWER ✓ A wrongful conversion of another's funds or
property by one who is lawfully in possession of those funds or that property.
entrapment - ANSWER ✓ A relatively common defense under which the
defendant claims that he would not have committed the crime or broken the law if
he had not been induced or tricked into doing so by law enforcement officials.
extortion - ANSWER ✓ A criminal offense in which a person obtains money,
property, and/or services from another by wrongfully threatening or inflicting harm
to his or her person, property, or reputation. Also called blackmail.
, false pretenses - ANSWER ✓ A materially false representation of an existing
fact, with knowledge of the falsity of the representation and with the intent to
defraud.
felony - ANSWER ✓ A serious crime, such as murder, rape, or robbery, that is
punishable by imprisonment for more than one year or death.
first appearance - ANSWER ✓ The initial appearance of an arrested individual
before a judge, who determines whether there was probable cause for the arrest. If
the judge ascertains that probable cause did not exist, the individual is freed.
forgery - ANSWER ✓ The fraudulent making or altering of a writing in a way
that changes the legal rights and liabilities of another and with the intent to deceive
or defraud.
fraud - ANSWER ✓ (1) An intentional deception that causes harm to another. (2)
A basis for contesting a will if the testator relied on false statements when he or
she made the will.
hacker - ANSWER ✓ A person who illegally accesses, or enters, another person's
or company's computer system to obtain information or steal money.
indictment - ANSWER ✓ A finding by the grand jury that there is evidence to
charge the defendant and bring him or her to trial.
information - ANSWER ✓ A finding by a magistrate that there is enough
evidence to charge the defendant and bring her or him to trial.
insider trading - ANSWER ✓ Illegal buying or selling of a corporation's securities
by corporate insiders, such as officers and directors, on the basis of material,
nonpublic information and in breach of a fiduciary duty or some other relationship
of trust and confidence.
justifiable use of force - ANSWER ✓ The use of force that is necessary to prevent
imminent death or great bodily harm to oneself or another or to prevent the
imminent commission of a forcible felony.
