Business Law and Ethics Midterm
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1
What is an agreement?
An offer and acceptance to enter into a contract.
2
What is a false token
A false document used for fraud
3
When was the Interstate Commerce Commission created?
near the end of the nineteenth century
4
What does actus reus mean?
Wrongful behavior in criminal liability.
5
What is the purpose of criminal law?
To punish offenders for harm to public health, safety, or morals.
6
Who files charges in a criminal proceeding?
The government
7
What does defense of property allow?
Reasonable force to defend property.
8
Temporary, permanent, and future.
What types of interests in land exist?
Temporary, permanent, and future.
9
What powers do agencies have?
Legislative, judicial, and executive.
10
Who cannot enter into legally binding contracts?
Minors, intoxicated individuals, and those with mental illness.
11
When does a person gain full legal capacity to enter contracts?
When they become emancipated.
12
What is the role of the offeror in an agreement?
To make the offer to enter into a contract.
13
What is a common use of false tokens?
Counterfeiting money.
14
Which agency was the first federal administrative agency?
Interstate Commerce Commission (ICC).
15
What is the Latin term for guilty act?
Actus reus.
16
Who files charges in a criminal action?
The government.
17
When is the use of deadly force in defense of property justified?
Rarely, if ever.Rarely, if ever.
18
What determines the duration of ownership interest in land?
the duration of ownership interest in land?
The type of estate one holds.
The type of estate one holds.
19
What are the three types of power agencies?
Legislative, judicial, and executive.
20
What types of cases do state courts have the power to hear?
All cases not within the exclusive jurisdiction of the federal court system.
21
What is consideration in a contract?
What a person will receive in return for performing a contract obligation.
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