Which of the following best defines business law?

Question 1 options:

legal responsibility for the occurrence of an event causing loss

rules providing members of a society with established rights

rules governing procedures involved when one person sues another

rules governing commercial relationships and the enforcement of rights

What is the difference between the communication of an invitation to treat and the communication of
an offer to enter into a contract?

Question 2 options:

An invitation to treat expresses an inclination to entertain offers.

An offer to enter into a contract seeks to facilitate commercial profitability.

An offer to enter into a contract is an expression of a willingness to do business.

An invitation to treat is a promise to perform specified acts on certain terms.

For a judge in Ontario’s inferior court, past decisions from which court would NOT be binding?

Question 3 options:

The Court of Appeal of Alberta

The Supreme Court of Canada

Ontario’s superior court

The Court of Appeal for Ontario

What is the role of business ethics?

Question 4 options:

to impose legal responsibility for an event or loss that has occurred.

to provide a comprehensive plan for dealing with legal risk.

to resolve disputes between conflicting parties.

to establish principles and values for determining right and wrong in the business world.

How does a legal contract contribute to a business relationship?

Question 5 options:

It defines the moral principles and values of the relationship.

It contributes uncertainty of liability in the relationship.

It gives structure, predictability, and security to the relationship

It provides principles of paramount to govern the relationship.

A judge has found that Clear View Windows Inc. is liable to pay damages to a client for breach of one of
its implied obligations under the Sale of Goods Act. Which of the following statements best describes the
nature of the implied term breached by Clear View?

Question 6 options:

covenant

condition

warranty

pre-contractual term
What is the defining characteristic of procedural law?

Question 7 options:

It is a set of laws defining individual rights, duties, and liabilities.

It governs procedure for the enforcement of the Civil Code.

It governs procedure for the enforcement of rights, duties, and liabilities

It regulates the relationship between persons and governments.

What attribute distinguishes substantive law from other forms of law?

Question 8 options:

It defines rights, duties, and liabilities.

It defines international legal status.

It defines the relationship between governments.

It defines procedures under the Charter.

Why is it is important to determine when the title to goods passes from the seller to the buyer?

Question 9 options:

because the seller can no longer be sued once title has passed to the buyer

because risk usually passes with title

because the party with title is responsible for delivery costs

because payment is due when title passes

Rachel decides to sell her home, so she meets with several real estate agents. She has decided to select
the agent who offered a reduced commission rate and a guarantee that her home will sell within three
months without a price reduction. How will Rachel’s rights be impacted if she fails to enter into a formal
contract with the agent?

Question 10 options:

Rachel will not be impacted negatively because real estate agents can be sued for breaching the code of conduct
that applies to real estate agents.

Rachel will be in an ideal situation because then she cannot be forced to fulfill her own promises to the agent.

Unless the agent’s promise is formalized in a contract, it will not be enforceable.

As long as the agent’s promise is witnessed, it will be enforceable.