BUSINESS LAW – FINAL EXAM STUDY GUIDE
The Business Law Final Exam will consist of 100 questions that will be broken into True/False, Multiple Choice & Matching sections.
Questions will be based on course vocabulary, key concepts, major cases & legal scenarios.
COURSE VOCABULARY
Chapter 1
Case Law
Civil & Criminal Law
Ordinance
Stare decisis
Procedural law
Substantive law
Chapter 2
Due Process
Interstate/Intrastate Commerce
Chapter 3
Appellate court
Arbitrator
Court of record
General jurisdiction
Juvenile court
Litigate
Mediator
Original jurisdiction
Small claims court
Trial court
Writ of certiorari
Chapter 4
Beyond a Reasonable Doubt
Burden of Proof
Crime
Felony & Misdemeanor
Immunity
Plea bargaining
Probable cause
Self defense
Vicarious criminal liability
White collar crime
Chapter 5
Assault
Battery
Defamation
False imprisonment
Fraud
Intentional tort
Invasion of privacy
Negligence
Preponderance of Evidence
Strict liability
Subpoena
Chapter 6
Acceptance
Bilateral & Unilateral contract
Contract
Counteroffer
Revocation
Chapter 7
Duress
Genuine Assent
Material Fact
Mutual Assent
Ratification
Rescission
Undue Influence
Unilateral Mistake
Valid, Void, Voidable
Chapter 8
Consideration
Forbearance
Legal value
Liquidated debt
Nominal consideration
Past consideration
Promissory estoppels
Statute of limitations
Chapter 9
Contractual capacity
Disaffirmance
Emancipation
Ratification
Scope of authority
Chapter 10
Statute of Frauds
Chapter 15
Accession
Constructive delivery
copyright
fair use
intellectual property
joint tenancy
lost & mislaid property
patent
personal & real property
right of survivorship
severalty
tenancy in common
trademark
trade secret
Chapter 16
Extraordinary, mutual benefit ,
gratuitous & involuntary
bailment
Extraordinary, ordinary &
minimal care
Chapter 17
Adverse possession
Deed
Doctrine of capture
Easement
Eminent domain
Zoning ordinance
Chapter 18
Indemnify
Insurable interest
Policy
Premium
Chapter 19
Administrator
Beneficiary
Decedent
Estate
Executor
Intestate
testate
trust
will
Chapter 20
Agency
Agent
Commingling
Duty of: loyalty, obedience,
reasonable care & skill,
confidentiality, accounting
Express authority
Implied authority
Power of attorney
Undisclosed principal
Chapter 21
Unemployment compensation
Worker’s compensation
Wrongful discharge
Chapter 22
Agency, closed, open & union
shop
Closed shop
Collective bargaining
featherbedding
right-to-work laws
unfair labor practices
yellow dog contracts
Chapter 23
BFOQ
Bona fide seniority
EEOC
Protected classes
Quid pro quo
Chapter 24
Assumption of risk
Casual workers
Contributory negligence
Co-worker negligence
OSHA
Other:
Allocution
Corpus Delicti
Covenant not to compete
Mens Rea
Nolo contendere
KEY CONCEPTS
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Identify the role of case law (Ch. 1)
Distinguish between civil & criminal law, crimes & torts. (Ch. 1)
Ten Amendments (Ch. 2 & appendix)
Name the different levels of courts and describe their powers (Ch. 3)
List the 3 elements that make an act criminal (Ch. 4)
Distinguish between ordinances, misdemeanors & felonies with examples & penalties (Ch. 4)
Analyze the most common torts and the basic elements of each (Ch. 5)
Describe a valid contact and its elements (Ch. 6)
Describe the methods by which offers are terminated (Ch. 6)
Recognize when genuine assent is & is not present (Ch. 7)
Identify types of consideration (Ch. 8)
Identify legality & capacity of contracts (Ch. 9)
Contrast oral and written contracts (Ch. 10)
Describe various remedies for breach of contract (Ch. 11)
Understand the classifications of property (Ch. 15)
Identify forms of ownership & how they are transferred (Ch. 16)
Identify 3 rights a tenant has (Ch. 17)
Discuss common types of business & personal insurance (Ch. 18)
Differentiate between dying testate & intestate (Ch. 19)
Describe how a decedent’s property is distributed (Ch. 19)
Distinguish the scope of agency authority (Ch. 20)
Explain how employment contracts are made & terminated (Ch. 21)
Explain how a collective bargaining agreement is concluded (Ch. 22)
Identify the bases for unjustified discrimination in employment & statutes governing such
discrimination (Ch. 23)
List the 3 common-law defenses used by employers against negligence cases by employees (Ch.
24)
Major cases & related issue(s)
1. Tinker v. Des Moines – Student Speech, Symbolic Speech
2. Roe v. Wade - Abortion
3. Miranda v. Arizona – Self Incrimination, Due Process
4. Roth v. United States – 1st amendment & obscenity
5. Miller v. California – 1st amendment & obscenity
6. Burger King v. Rudzewick - Jurisdiction of States, Franchising Rights
7. The People of the State of Illinois vs. Larry Eyler – Self Incrimination
8. The People of the State of Illinois vs. David Hendricks – Beyond a Reasonable Doubt
9. Hustler Magazine, Inc. v. Falwell – Satires & Parodies