BUSINESS LAW TEST QUESTIONS AND ANSWERS
How are contracts for the sale of goods different from contracts for services the
real property
Uniform commercial code for the sale of goods but not for this services in properties so
anything that is a good is under the UCC law
When do title and risk of loss pass from the seller to the buyer and a sale of
goods
When the seller does what is required under the contract to deliver the goods
What types of transactions do consumer protection laws cover and not cover
Business to business and consumer to consumer is not under the protection laws
What are the three types of implied warranties
Merchant ability and fitness for purpose and usage of trait
What are ways that implied warranties can be excluded or modified
By the implied warranties getting saled as is
What organizations, business, and government agencies can consumers go to for
assistance
Consumers can go to the business or the state representatives or a lawyer
The bailor
Is the giver
The Bailee
Is the takee
What is personal property
Everything other than real property that can be owned
What is real property
It is land and anything attached to the land including buildings
What is fixtures
Stuff like basketball hoops, swimming pools, stoves, and fridges
What are some methods of acquiring ownership of personal property
You can do this by purchasing it, getting a gift, or inheriting it
What is intellectual property and what are some types of intellectual property
It is an original work fixed in a tangible medium of expression, such as an invention, a
work of art or a logo, coming up with an app, books, video games and you protect them
by copyrights, patents, and trademarks
How is Bailment created
Is created when someone intentionally lets you borrow something
What are the principal types of bailments
Gratuitous bailment, mutual benefit bailment, and special bailment
Advantages and disadvantages for renting
Advantages
•cheaper
•not tied down
•You don't have to mow the lawn if at like an apartment
Disadvantages
How are contracts for the sale of goods different from contracts for services the
real property
Uniform commercial code for the sale of goods but not for this services in properties so
anything that is a good is under the UCC law
When do title and risk of loss pass from the seller to the buyer and a sale of
goods
When the seller does what is required under the contract to deliver the goods
What types of transactions do consumer protection laws cover and not cover
Business to business and consumer to consumer is not under the protection laws
What are the three types of implied warranties
Merchant ability and fitness for purpose and usage of trait
What are ways that implied warranties can be excluded or modified
By the implied warranties getting saled as is
What organizations, business, and government agencies can consumers go to for
assistance
Consumers can go to the business or the state representatives or a lawyer
The bailor
Is the giver
The Bailee
Is the takee
What is personal property
Everything other than real property that can be owned
What is real property
It is land and anything attached to the land including buildings
What is fixtures
Stuff like basketball hoops, swimming pools, stoves, and fridges
What are some methods of acquiring ownership of personal property
You can do this by purchasing it, getting a gift, or inheriting it
What is intellectual property and what are some types of intellectual property
It is an original work fixed in a tangible medium of expression, such as an invention, a
work of art or a logo, coming up with an app, books, video games and you protect them
by copyrights, patents, and trademarks
How is Bailment created
Is created when someone intentionally lets you borrow something
What are the principal types of bailments
Gratuitous bailment, mutual benefit bailment, and special bailment
Advantages and disadvantages for renting
Advantages
•cheaper
•not tied down
•You don't have to mow the lawn if at like an apartment
Disadvantages
