Business Law Final Exam Questions With Correct Answers.
Risk Transfer - accurate answers-Risk transfers from seller to buyer when
goods are shipped at destination upon tender of delivery by carrier.
Elements of a Tort - accurate answers-Injury, duty, causation.
Breach of Warranty - accurate answers-Violation of an express or implied
warranty.
Torts of Fraud - accurate answers-Taking advantage of someone through
dishonesty.
Negligence - accurate answers-Manufacturer breaches the duty causing injury.
Mitigate Damage - accurate answers-Injured party must take responsible
steps to minimize harm done.
Misdemeanor Jail Time - accurate answers-Up to 1 year.
Felony Jail Time - accurate answers-More than 1 year.
Enforceable Agreement - accurate answers-Courts will enforce a contract.
Performance in a Contract - accurate answers-Fulfillment of contractual
promises.
Rescission - accurate answers-If you cancel by rescission, you can get back
what you already put in.
Past Performance - accurate answers-Not legally sufficient for a new promise
by the second party.
Patent Duration - accurate answers-Depends on the contract.
14th Amendment - accurate answers-Applies all restrictions that previously
only applied to federal government, to state government.
Risk Transfer - accurate answers-Risk transfers from seller to buyer when
goods are shipped at destination upon tender of delivery by carrier.
Elements of a Tort - accurate answers-Injury, duty, causation.
Breach of Warranty - accurate answers-Violation of an express or implied
warranty.
Torts of Fraud - accurate answers-Taking advantage of someone through
dishonesty.
Negligence - accurate answers-Manufacturer breaches the duty causing injury.
Mitigate Damage - accurate answers-Injured party must take responsible
steps to minimize harm done.
Misdemeanor Jail Time - accurate answers-Up to 1 year.
Felony Jail Time - accurate answers-More than 1 year.
Enforceable Agreement - accurate answers-Courts will enforce a contract.
Performance in a Contract - accurate answers-Fulfillment of contractual
promises.
Rescission - accurate answers-If you cancel by rescission, you can get back
what you already put in.
Past Performance - accurate answers-Not legally sufficient for a new promise
by the second party.
Patent Duration - accurate answers-Depends on the contract.
14th Amendment - accurate answers-Applies all restrictions that previously
only applied to federal government, to state government.
