Business Law 101 - Exam 1
Danger invites rescue doctrine - (correct Answer) - If I harm you while rescuing you then you can't sue
me.
Is there a guarantee to the right of privacy? - (correct Answer) - No
Exclusionary rule - (correct Answer) - A rule that prevents evidence that is obtained illegally or without
proper search warrant.
Common Law Rule - (correct Answer) - The body of law developed from custom or judicial decisions in
English and U.S. courts, not attributable to a legislature.
Jurisdiction - (correct Answer) - The authority of a court to hear and decide a specific case.
Standing to Sue - (correct Answer) - The legal requirement that an individual must have a sufficient stake
in a controversy before he or she can bring a lawsuit.
Checks and balances - (correct Answer) - The principle under which the powers of the national
government are divided among three separate branches.
Utilitarian theory of ethics - (correct Answer) - What it requires and does not require and what are the
problems
Arbitration - (correct Answer) - The settling of a dispute by submitting it to a disinterested third party
(other than a court), who renders a decision.
Trademark - (correct Answer) - A distinctive word, symbol, or design that identifies the manufacturer as
the source of particular goods and distinguishes its products from those made or sold by others.
Service Mark - (correct Answer) - A trademark that is used to distinguish the services (rather than the
products) of one person or company from those of another.
Tradename - (correct Answer) - A name that a business uses to identify itself and its brand. A tradename
is directly related to a business's reputation and goodwill and is protected under trademark law.
Copyright - (correct Answer) - The exclusive right of an author or originator of a literary or artistic
production to publish, print, sell, or otherwise use that production for a statutory period of time.
Patent Protection - (correct Answer) - A property right granted by the federal government that gives an
inventor an exclusive right to make, use, sell, or offer to sell an invention in the United States for a
limited time.
Trade Secret - (correct Answer) - A formula, device, idea, process, or other information used in a business
that gives the owner a competitive advantage in the marketplace.
Forgery - (correct Answer) - The fraudulent making or altering of any writing in a way that changes the
Danger invites rescue doctrine - (correct Answer) - If I harm you while rescuing you then you can't sue
me.
Is there a guarantee to the right of privacy? - (correct Answer) - No
Exclusionary rule - (correct Answer) - A rule that prevents evidence that is obtained illegally or without
proper search warrant.
Common Law Rule - (correct Answer) - The body of law developed from custom or judicial decisions in
English and U.S. courts, not attributable to a legislature.
Jurisdiction - (correct Answer) - The authority of a court to hear and decide a specific case.
Standing to Sue - (correct Answer) - The legal requirement that an individual must have a sufficient stake
in a controversy before he or she can bring a lawsuit.
Checks and balances - (correct Answer) - The principle under which the powers of the national
government are divided among three separate branches.
Utilitarian theory of ethics - (correct Answer) - What it requires and does not require and what are the
problems
Arbitration - (correct Answer) - The settling of a dispute by submitting it to a disinterested third party
(other than a court), who renders a decision.
Trademark - (correct Answer) - A distinctive word, symbol, or design that identifies the manufacturer as
the source of particular goods and distinguishes its products from those made or sold by others.
Service Mark - (correct Answer) - A trademark that is used to distinguish the services (rather than the
products) of one person or company from those of another.
Tradename - (correct Answer) - A name that a business uses to identify itself and its brand. A tradename
is directly related to a business's reputation and goodwill and is protected under trademark law.
Copyright - (correct Answer) - The exclusive right of an author or originator of a literary or artistic
production to publish, print, sell, or otherwise use that production for a statutory period of time.
Patent Protection - (correct Answer) - A property right granted by the federal government that gives an
inventor an exclusive right to make, use, sell, or offer to sell an invention in the United States for a
limited time.
Trade Secret - (correct Answer) - A formula, device, idea, process, or other information used in a business
that gives the owner a competitive advantage in the marketplace.
Forgery - (correct Answer) - The fraudulent making or altering of any writing in a way that changes the
