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Business Law Fundamentals
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Business Law Fundamentals
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25 Questions

1. A doctrine providing that the judicial branch of one country will not examine the validity of public acts committed by a recognized foreign government within its own territory.

2. The selling of goods in a foreign country at a price below the price charged for the same goods in the domestic market.

3. In a sale of goods - the express designation of the goods provided for in the contract.

4. Under the Uniform Commercial Code Section 2-403(2) - a rule stating that if goods are entrusted to a merchant who deals in goods of that kind - the merchant has the power to transfer those goods and all rights to them to a buyer in the ordinary cours

5. An action to recover identified goods in the hands of a party who is wrongfully withholding them from the other party. Under the UCC - this remedy is usually available only if the buyer or lessee is unable to cover.

6. A concept developed by the philosopher Immanuel Kant as an ethical guideline for behavior. In deciding whether an action is right or wrong - or desirable or undesirable - a person should evaluate the action in terms of what would happen if everybody

7. Property that is acquired by the debtor after the execution of a security agreement.

8. To put funds or goods together into one mass so that they are so mixed that they no longer have separate identities. In corporate law - if personal and corporate interests are commingled to the extent that the corporation has no separate identity - a

9. The creation of an absolute or unconditional right or power.

10. Capital (funds and other assets) provided by professional - outside investors (venture capitalists - usually groups of wealthy investors and investment banks) to start new business ventures.

11. Various documents that attempt to dispose of an estate in the same or similar manner as a will - such as trusts or life insurance plans.

12. The first bank to receive a check for payment.

13. Any arrangement in which the owner of a trademark - trade name - or copyright licenses another to use that trademark - trade name - or copyright in the selling of goods or services.

14. A designation in the United States for a corporation formed in another country but doing business in the United States.

15. The law that governs relations among nations. National laws - customs - treaties - and international conferences and organizations are generally considered to be the most important sources of international law.

16. A case in which the plaintiff has produced sufficient evidence of his or her claim that the case can go to a jury; a case in which the evidence compels a decision for the plaintiff if the defendant produces no affirmative defense or evidence to dispr

17. Legally protected rights and interests in anything with an ascertainable value that is subject to ownership.

18. A controversy that is not hypothetical or academic but real and substantial; a requirement that must be satisfied before a court will hear a case.

19. The fraudulent appropriation of funds or other property by a person to whom the funds or property has been entrusted.

20. A type of limited partnership in which the liability of all of the partners - including general partners - is limited to the amount of their investments.

21. Unlawful pressure brought to bear on a person - causing the person to perform an act that she or he would not otherwise perform.

22. An implied promise by a landlord that rented residential premises are fit for human habitation

23. Job-hiring policies that give special consideration to members of protected classes in an effort to overcome present effects of past discrimination.

24. A company that acts on behalf of many smaller shareholders/owners by buying a large portfolio of securities and professionally managing that portfolio.

25. A type of tenancy under which property is leased for a specified period of time - such as a month - a year - or a period of years; also called a tenancy for years.

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