Business Law FBLA UPDATED Exam Questions
and CORRECT Answers Verified 100%
detention hearing - ANSWER -A court session during which the judge tries to
learn whether there are good reasons to keep an accused juvenile in custody
digital signature - ANSWER -An encoded message that appears at the end of a
contract created online
direct suit - ANSWER -A lawsuit a shareholder can bring against a corporation for
denying his or her rights as a shareholder
disaffirm - ANSWER -To show the intent not to live up to a contract
discharge by agreement - ANSWER -The act of ending contracts by mutual
agreement
discrimination - ANSWER -The unequal treatment of individuals based on sex,
age, race, nationality, or religion
disparate impact - ANSWER -When an employer has an employment policy that
appears neutral on its surface, but has an unfair impact on members of a protected
class
disparate treatment - ANSWER -When an employer intentionally discriminates
against an individual or a group of individuals belonging to a protected class
dissociation - ANSWER -When a partner is no longer associated with a firm
dissolution - ANSWER -The breakup of a partnership or any legal entity
divorce - ANSWER -A declaration by the court that a valid marriage has come to
an end; sometimes called dissolution of marriage
,domain name - ANSWER -The Internet address of a business
double representation - ANSWER -When an agent works simultaneously for two
competing principals
draft - ANSWER -An order to a third party to pay money
drawee - ANSWER -The person to whom an order is given to pay money in a
draft
drawer - ANSWER -The person who orders money to be paid in a draft
duress - ANSWER -The act of destroying somebody's free will by force, threat of
force, or bodily harm
easement - ANSWER -An irrevocable right to the limited use of another's land
e-commerce (electronic commerce) - ANSWER -The process of conducting
business using electronic means, especially the Internet
electronic fund transfer (EFT) - ANSWER -A computerized system for
transferring funds electronically rather than by writing checks
emancipation - ANSWER -Freeing someone from the control of another;
especially a parent's relinquishing authority and control over a minor child
eminent domain - ANSWER -The right of the government to take private land for
a public purpose
employment-at-will - ANSWER -Based on the principle that each party should be
free to end the employment relationship at any time without penalty
Environmental Protection Agency (EPA) - ANSWER -The federal agency
responsible for protecting the environment
, Equal Credit Opportunity Act (ECOA) - ANSWER -Makes it illegal for banks and
businesses to discriminate against credit applicants on the basis of their gender,
race, marital status, national origin, religion, age, or because they get public
assistance income
equal pay rule - ANSWER -A standard that states that employers working in
interstate commerce must pay women the same rate of pay as men holding the
same type of job
estate - ANSWER -The interest or right that a person has in real property
ethics - ANSWER -The rules used to determine the difference between right and
wrong
eviction - ANSWER -Occurs when a landlord deprives a tenant of the possession
of the premises
executor/executrix - ANSWER -The person named to carry out the terms of a will
(executor—male; executrix—female)
express authority - ANSWER -Comes from the orders, commands, or instructions
a principal explicitly gives an agent
express contract - ANSWER -A contract statement that may be oral or written
express warranty - ANSWER -An oral or written statement, promise, or other
representation about the quality of a product
expropriation - ANSWER -When a government seizes a privately-owned business
to be used for a public service
Fair Credit Billing Act - ANSWER -Requires creditors to correct billing errors
brought to their attention
and CORRECT Answers Verified 100%
detention hearing - ANSWER -A court session during which the judge tries to
learn whether there are good reasons to keep an accused juvenile in custody
digital signature - ANSWER -An encoded message that appears at the end of a
contract created online
direct suit - ANSWER -A lawsuit a shareholder can bring against a corporation for
denying his or her rights as a shareholder
disaffirm - ANSWER -To show the intent not to live up to a contract
discharge by agreement - ANSWER -The act of ending contracts by mutual
agreement
discrimination - ANSWER -The unequal treatment of individuals based on sex,
age, race, nationality, or religion
disparate impact - ANSWER -When an employer has an employment policy that
appears neutral on its surface, but has an unfair impact on members of a protected
class
disparate treatment - ANSWER -When an employer intentionally discriminates
against an individual or a group of individuals belonging to a protected class
dissociation - ANSWER -When a partner is no longer associated with a firm
dissolution - ANSWER -The breakup of a partnership or any legal entity
divorce - ANSWER -A declaration by the court that a valid marriage has come to
an end; sometimes called dissolution of marriage
,domain name - ANSWER -The Internet address of a business
double representation - ANSWER -When an agent works simultaneously for two
competing principals
draft - ANSWER -An order to a third party to pay money
drawee - ANSWER -The person to whom an order is given to pay money in a
draft
drawer - ANSWER -The person who orders money to be paid in a draft
duress - ANSWER -The act of destroying somebody's free will by force, threat of
force, or bodily harm
easement - ANSWER -An irrevocable right to the limited use of another's land
e-commerce (electronic commerce) - ANSWER -The process of conducting
business using electronic means, especially the Internet
electronic fund transfer (EFT) - ANSWER -A computerized system for
transferring funds electronically rather than by writing checks
emancipation - ANSWER -Freeing someone from the control of another;
especially a parent's relinquishing authority and control over a minor child
eminent domain - ANSWER -The right of the government to take private land for
a public purpose
employment-at-will - ANSWER -Based on the principle that each party should be
free to end the employment relationship at any time without penalty
Environmental Protection Agency (EPA) - ANSWER -The federal agency
responsible for protecting the environment
, Equal Credit Opportunity Act (ECOA) - ANSWER -Makes it illegal for banks and
businesses to discriminate against credit applicants on the basis of their gender,
race, marital status, national origin, religion, age, or because they get public
assistance income
equal pay rule - ANSWER -A standard that states that employers working in
interstate commerce must pay women the same rate of pay as men holding the
same type of job
estate - ANSWER -The interest or right that a person has in real property
ethics - ANSWER -The rules used to determine the difference between right and
wrong
eviction - ANSWER -Occurs when a landlord deprives a tenant of the possession
of the premises
executor/executrix - ANSWER -The person named to carry out the terms of a will
(executor—male; executrix—female)
express authority - ANSWER -Comes from the orders, commands, or instructions
a principal explicitly gives an agent
express contract - ANSWER -A contract statement that may be oral or written
express warranty - ANSWER -An oral or written statement, promise, or other
representation about the quality of a product
expropriation - ANSWER -When a government seizes a privately-owned business
to be used for a public service
Fair Credit Billing Act - ANSWER -Requires creditors to correct billing errors
brought to their attention
