Question

1. which legal concept means \legal responsibility\?

a. liability
b. immunity
c. precedent
d. jurisdiction

1. a contract is best defined as:

a. a verbal promise only
b. a legal agreement
c. a business idea
d. a receipt

1. which is required for a valid contract?

a. agreement
b. consideration
c. legal purpose
d. all of the above

1. osha laws focus on:

a. customer service
b. workplace safety
c. advertising
d. taxes

1. the ftc is responsible for:

a. workplace injuries
b. consumer protection
c. criminal sentencing
d. immigration

1. which business action is unethical?

a. honest advertising
b. fair pricing
c. false claims to customers
d. product safety

1. a breach of contract occurs when:

a. a contract is signed
b. one party fails to perform
c. both parties agree
d. a law is passed

1. which is an example of negligence?

a. following safety rules
b. ignoring safety hazards
c. signing a contract
d. paying taxes

1. jurisdiction refers to:

a. the law textbook
b. a type of crime
c. a court’s authority
d. a business license

Explanation:

Question 8

• Liability means legal responsibility (e.g., financial or legal obligation for actions). Immunity is exemption from liability. Precedent is a legal decision used as a guide. Jurisdiction is a court’s authority. So A matches "legal responsibility".

• A contract is a legal agreement (written/verbal) with enforceable terms. A verbal promise alone isn’t always a contract. A business idea or receipt isn’t a contract. So B is correct.

• A valid contract needs agreement (offer + acceptance), consideration (something of value exchanged), and legal purpose (not illegal). So all (agreement, consideration, legal purpose) are required. Thus D is correct.

Answer:

A. Liability

Question 9