Professional Documents
Culture Documents
Business Law Quiz Questions
Business Law Quiz Questions
to:
Enact laws according to the Australian
Constitution.
Determine State government policies.
Protect the rights of the citizens.
Inform the citizens of their rights.
Laws made by parliaments are called statute law.
TRUE - False
Which of the following statements best reflects the
doctrine of precedent?
All previous decisions must be similar.
Cases with different facts should be decided in a similar
manner.
Cases with similar facts should be decided in a
similar manner.
All previous decisions must be followed.
What is the meaning of the term "court hierarchy"?
The horizontal arrangement of courts within Australia.
A vertical system of appellate courts.
The supreme courts of the various states and
territories.
A tiered court system within each particular
jurisdiction.
Business law is primarily about civil disputes
which result in remedies for the successful party
and liabilities for the losing party. Which of the
following are examples of aspects of civil law
relevant to business?
Business entities law.
Tort law.
Contract law.
All of the options.
Is the High Court a State court, that is located
within the State court hierarchy, or is it a Federal
court, that is located within the Federal court
hierarchy?
The High Court is both a state court and a federal
court.
The High Court is a federal court located within the
federal court hierarchy.
The High Court is neither a state court nor a federal
court.
The High Court is a state court.
Tort law.
Business entities law.
All of the options.
Contract law.
In Blomeley v Ryan:
the court granted an order for specific performance against
the farmer
the court held that the farmer was so drunk that his
judgment was seriously affected and this was known to
Blomley, so that as a result he was not in a position to
make a binding contract
the court held that the farmer although drunk, still understood
what he was doing and that as a result the contract was valid
the court held that it would be unfair to enforce the contract
against the farmer
Which of the following statements is the best description of 'non est factum'?
a. both parties have made the same mistake about the existence or identity of the subject matter of the contract
b. both parties are mistaken about a material fact that is important to the subject matter of the contract
c. one of the parties' to a contract is mistaken as to the nature of the document which they have signed
d. one of the parties is mistaken about a material fact regarding the subject matter of the contract, and the other party
takes advantage of this mistake
Which of the following statements is the best description of a 'condition'?
a. a term in a contract which must be satisfied before a contract can come into existence
b. a term in a contract which provides that the contract will terminate on the happening of a particular event
c. a term in a contract, the consequence of breach of which cannot be determined until after the breach has occurred and
the seriousness of the effects of the breach cab be ascertained
d. a term in a contract, non-performance of which may result in a rescission of the contract and/or damages to
the plaintiff
Which of the following statements is the best description of a 'warranty'?
a. a term in a contract which provides that the contract will terminate on the happening of a particular event
b. a term which must be satisfied before a contract can come into existence
c. a term in a contract not essential to the main purpose of the contract, non-performance of which will not entitle
the plaintiff to rescind the contract
d. a term in a contract, non-performance of which may result in a rescission of the contract and/or damages to the plaintiff
The most significant difference between a 'void' contract and an 'illegal' contract is that:
a. money paid or property transferred under a void contract may be irrecoverable
b. illegal contracts carry penalties for violation
c. money paid or property transferred under an illegal contract may be irrecoverable
d. a void contract will not be enforced by courts
When is a particular statement more likely to be a term of the contract than a mere representation?
a. the statement was made with the intention of preventing the other party from finding any defects
b. both parties placed considerable importance on the statement
c. the other party was asked to check over and verify the statement
d. a long time has passed between the making of the statement and the final agreement
In which of the following cases did the court decide that provided a restraint of trade clause is reasonable it will
not be void and unenforceable?
a. Anderson Ltd v Daniel
b. Public Service Employees Credit Union Cooperative Ltd v Champion
c. Parkinson v College of Ambulance Ltd
d. Nordenfelt v Maxim Nordenfelt Guns and Ammunition Company Ltd
A clause in a contract which provides that in the event of a dispute neither party may use the court system to resolve
the dispute is:
illegal at common law
referred to as a 'restraint of trade' clause
void at common law
by its very nature incapable of being enforced by the courts
In Commercial Bank of Australia v Amadio which of the following was NOT a reason why the bank was considered to
have acted unconsionably?
the bank was in a superior bargaining position and hence the Amadios were in a weaker bargaining position
the bank exercised economic duress
the bank took advantage of the Amadios' special disabilities
the bank did not explain the real financial position of the son whom his parents were trying to help