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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. Minors may be employed in certain jobs as long as their work does not interfere with
2. A low down payment and smaller monthly payments are advantages of
3. A bank's written acknowledgement of receipt of money and its promise to repay that money on the due date is a
4. The age of majority in most states is
5. A substitution of one contract for another is
6. A warranty that promises to fix or replace a defective product free of charge for a certain time period is called a(n)
7. At the bottom level of the federal court system are the federal
8. The most direct way employers discriminate is through
9. Most partnership law is set forth in the
10. A full endorsement is also known as a
11. The difference between market value and debt in the property is called
12. A fact that is important to one of the parties to a contract is a(n)
13. The heart of the golden rule is
14. To be effective, an offer must be communicated to the
15. A contract that is not yet fulfilled is
16. A person who dies without making a will is said to have died
17. The party who presents a negotiable instrument is entitled to have the instrument
18. If unauthorized charges are made on a credit card before the issuing company is notified, the cardholder is liable for
19. When a contract ends, it is said to be
20. The person the agent deals with on behalf of the principal is called the
21. Third parties are entitled to notice of an agency's
22. Average fuel economy standards were established by the
23. Shareholders who want to control the election of the board of directors by buying a majority of the shares in a corporation but are unable to, may try to obtain a
24. Wrongful acts of one of the parties may discharge a contract by
25. A written notice filed by creditors in a public office that a security interest exists is a

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