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MCQS Business Law

This document contains 10 multiple choice questions that test knowledge of various areas of business law: 1. Business law deals with legal issues related to business transactions and commercial activities. 2. Fraud is the legal term for intentionally making a false statement to induce another party to enter a contract. 3. The principle of stare decisis states that courts should follow precedents set by previous rulings.

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67 views3 pages

MCQS Business Law

This document contains 10 multiple choice questions that test knowledge of various areas of business law: 1. Business law deals with legal issues related to business transactions and commercial activities. 2. Fraud is the legal term for intentionally making a false statement to induce another party to enter a contract. 3. The principle of stare decisis states that courts should follow precedents set by previous rulings.

Uploaded by

Areej Riaz u
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MCQS- Business Law

Which branch of law deals with legal issues related to business transactions and commercial
activities?
a) Criminal law
b) Family law
c) Business law
d) Constitutional law

What is the legal term for a situation where one party intentionally makes a false statement
that induces another party to enter into a contract?
a) Negligence
b) Fraud
c) Breach of contract
d) Duress

Which principle states that a court should follow its own previous decisions and those of
higher courts in similar cases?
a) Stare decisis
b) Res ipsa loquitur
c) Res judicata
d) In loco parentis

What type of damages are awarded to compensate the injured party for actual losses suffered
as a direct result of a breach of contract?
a) Punitive damages
b) Nominal damages
c) Consequential damages
d) Compensatory damages

Which legal concept allows a person to withdraw from or cancel a contract due to certain
legal grounds?
a) Estoppel
b) Novation
c) Rescission
d) Ratification

What is the legal term for a contract in which one party promises to do something in return
for an act or promise from the other party?
a) Unilateral contract
b) Bilateral contract
c) Executed contract
d) Express contract

Which law regulates the relationship between employers and employees, covering aspects
such as wages, working conditions, and employment rights?
a) Contract law
b) Tort law
c) Labor law
d) Property law

What is the legal term for a written order issued by a court to prevent a specific action or to
enforce a particular right?
a) Subpoena
b) Writ of habeas corpus
c) Injunction
d) Summons

What type of intellectual property protection grants exclusive rights to authors, artists, and
creators of original works of authorship?
a) Patent
b) Trademark
c) Copyright
d) Trade secret

What legal doctrine holds that a person can be held liable for the consequences of his or her
actions, even if those actions were unintentional?
a) Contributory negligence
b) Respondeat superior
c) Assumption of risk
d) Vicarious liability

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