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FBLA Business Law Test 3
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FBLA Business Law Test 3
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25 Questions

1. If unauthorized charges are made on a credit card before the issuing company is notified, the cardholder is liable for
2. A consumer who wishes to cancel a contract made with a door-to-door salesperson must do so within
3. A partner who takes no active role and is not known publicly, but has unlimited liability is a
4. An agent who suffers a loss as a result of a principal's instructions is entitled to
5. A legal document verifying permission to practice a particular trade or profession is called a
6. A type of co-ownership in which a person's heirs inherit that person's share of property is known as
7. A partnership that is formed simply by the way two or more people conduct their business is called
8. A food and drug containing an ingredient that reduces its standard quality is said to be
9. To say that a contract is legally binding it is
10. The U.S. Supreme Court decides which cases it will hear by a vote of its
11. Absolute liability to pay is also known as
12. A mortgage with a fixed interest rate and increasing monthly payments is a
13. Property found in a public place that would indicate it was simply forgotten is considered
14. Mutual mistake is also known as
15. A receipt given by a carrier to a shipper for shipment of goods is known as
16. The most direct way employers discriminate is through
17. A person who dies without making a will is said to have died
18. A low down payment and smaller monthly payments are advantages of
19. An endorsement that limits the liability of the indorser is a
20. One corporation's purchase of substantially all property belonging to another corporation is a(n)
21. To be effective, an offer must be communicated to the
22. A written notice filed by creditors in a public office that a security interest exists is a
23. Closed shops were made illegal by the
24. The federal regulation that requires used car dealers to place warranty information in car windows is
25. At the bottom level of the federal court system are the federal

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