C713 - Study guides, Class notes & Summaries
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WGU C713 - Business Law exam questions and answers 2024
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Absolute privilege 
A witness testifying a court or legislature may never be sued for defamation 
 
 
 
Acceptance 
Retention of the collateral by a secured party as full or partial satisfaction of a debt 
 
 
 
Accepts 
To sign a draft 
 
 
 
Accession 
Occurs when one person uses labor, materials or both to add value to personal property belonging to another person 
 
 
 
Accommodated Party 
Someone who receives a benefit from an accommodation party 
 
 
 
Accommodation Party 
Someone other th...
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WGU: Business Law - C713 exam questions and answers 2024
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Define and describe "negotiation." 
negotiation is the transfer of an instrument in such form that the transferee becomes a holder 
requires both delivery and indorsement 
 
 
 
What are the two methods of negotiation? 
order instrument or a bearer instrument. 
 
Order Instrument 
contains the name of a payee capable of indorsing, as in "Pay to the order of Jamie Fowler. 
 
Bearer Instrument 
negotiated by delivery—that is, by transfer into another person's possession. Indorsement is not n...
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WGU C713 Definitions Business Law exam questions and answers 2024
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Acceptance. 
the expression of assent to the terms of an offer. Acceptance must generally be made in the manner specified by the offer. 
 
 
 
Actual cause (causation in fact). 
actual cause refers to a cause or factor without which the event could not have occurred. It is also termed as "but for cause" or "cause in fact" or "factual cause." 
 
 
 
Administrative agencies. 
governmental units, either state or federal, that have specialized expertise and authority over some area of the econ...
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WGU BUSINESS LAW C713 STUDY GUIDE WITH COMPLETE SOLUTION!!
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WGU BUSINESS LAW C713 STUDY GUIDE WITH COMPLETE SOLUTION!!
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Business Law WGU C713 Version 3 exam questions and answers 2024
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What purpose does the law serve in our society? 
To resolve conflicts in our society without the ise of volence. 
 
 
 
What are the three branches of government? 
Executive, Legislative, and Judicial 
 
 
 
What is Statutory Law? 
Law that is created by a legislative body, known as congress, at the federal Level. 
 
 
 
What is common Law? 
Is Judge-Made Law. It is law that comes from previous Judge rulings in similar cases. 
 
 
 
What is administrative Law? 
A branch of law that governs the c...
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WGU C713 PA exam questions and answers 2024
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Which type of law governs an individual's prosecution for the crime of theft? 
Statutory Law 
 
 
 
From which source do laws governing crimes primarily arise? 
Statutory law 
 
 
 
Which type of law provides the basis for substantive due process and equal protection? 
Constitutional Law 
 
 
 
Which source of law involves government agencies that interpret and enforce new laws? 
Administrative Law 
 
 
 
Two individuals are involved in a dispute over whether Individual A properly constructed a...
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WGU C713 STUDY GUIDE (V.3) UNIT 5 QUESTIONS WITH CORRECT ANS!!
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WGU C713 STUDY GUIDE (V.3) UNIT 5 QUESTIONS WITH CORRECT ANS!!
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WGU - BUSINESS LAW C713 PRE-ASSESSMENT exam questions and answers 2024
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What is the principal source of stare decisis and precedent? 
 
D) Common Law 
Common Law 
 
 
 
A rent-to-own store offered for sale a sofa that was manufactured in a foreign county. The store intentionally represented that the sofa was made from leather, but in reality it was made from vinyl. A consumer used a credit card to purchase the sofa and hopes the Federal Trade Commission regulations can help resolve the dispute. 
 
How would these regulations help this consumer? 
 
A) They prohibit u...
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WGU C713 Business Law Latest Update 100% Solved
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WGU C713 Business Law Latest Update 100% Solved precedent the tendency to decide current rulings based on previous cases, only binding in lower courts 
common law judge made law, often created through many precedents 
judicial power gives the right to interpret laws and determine their validity 
statutes legislature to become a law 
laws bill (congress), simple majority in house and senate -> president (veto power) -> 2/3 in house and senate -> statute 
injunction order to stop doing so...
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WGU :: C713 :: Business Law :: Version Three exam questions and answers 2024
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1. Which type of law governs an individual's prosecution for the crime of grand larceny? 
 
A. Administrative law 
 
B. Statutory law 
 
C. Common law 
 
D. Constitutional law 
B. Statutory law 
 
 
 
2. From which source do laws governing crimes primarily arise? 
 
A. Constitutional law 
 
B. Civil law 
 
C. Common law 
 
D. Statutory law 
D. Statutory law 
 
 
 
3. What type of law provides the basis for substantive due process and equal protection? 
 
A. Constitutional law 
 
B. Criminal law...
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