C713 - Study guides, Class notes & Summaries
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LATEST WGU - BUSINESS LAW C713 PRE-ASSESSMENT 2024-2025 QUESTIONS WITH 100% CORRECT ANSWERS
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What is the principal source of stare decisis and precedent? 
 
A) Constitutional Law 
B) Administrative Law 
C) Statutory Law 
D) Common Law - CORRECT ANSWER 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 ...
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WGU Business Law C713 | 232 Questions and Answers 2023 Solved Correctly
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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 something 
true - most government ag...
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C713 - Business Law (WGU) exam questions and answers 2024
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Negligence 
Failure to exercise appropriate and or ethically ruled care expected to be exercised among specific circumstances. 
 
*Duty of Care, breach, proximate cause, and damages must be established in negligence case 
 
*court will typically compare the actions of the defendant to a "reasonable person" 
 
 
 
Mailbox Rule 
Acceptance is affected upon sending out the letter, not receiving it. 
 
 
 
Trespass to Land 
When someone enters onto, above, or below the surface of land owned by som...
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Business Law C713 Exam 228 Questions with Verified Answers..
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Business Law C713 Exam 228 Questions with Verified Answers..
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Intellectual Property (WGU C713) exam questions and answers 2024
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intangible creative work that is embodied in physical form and includes copyrights, trademarks, and patents 
intellectual property 
 
 
 
Patent 
An exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something or offers a new technical solution to a problem. 
 
 
 
Copyright 
The right to exclude others from using or marketing forms of expression. 
 
 
 
Trademark 
The right to prevent others from using a company's product nam...
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Business Law WGU C713 Version 3 | 162 Questions and Answers(A+ Solution guide)
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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 creation and operat...
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WGU - BUSINESS LAW C713 EXAM 2023 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 39 pages • 2023
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What is the principal source of stare decisis and precedent? 
 
A) Constitutional Law 
B) Administrative Law 
C) Statutory Law 
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 w...
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Business Law c713/817 Questions With 100% Complete Solutions
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Which kind of law is made when an appellate court endorses a rule to be used in deciding court cases? 
 
-Constitutional law 
-Common law 
-Statutory law 
-Administrative law 
 
Common law is made when an appellate court endorses a rule to be used in deciding court cases - ️️Common law 
 
Which kind of law is based on the interpretation of an existing law? 
 
-Administrative law 
-Constitutional law 
-Statutory law 
-Common law 
 
Common law is based on the judicial interpretation of existin...
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C713 Business Law WGU exam 2023 with 100% correct answers
- Exam (elaborations) • 36 pages • 2023
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The legal system in the United States is comprised of 
1) both state and federal constitutions 
2) statutes and agency regulations 
3) judicial decisions 
 
 
 
Local and state laws may not conflict with 
federal laws 
 
 
 
Primary sources of law 
constitutional law, statutory law, common law, and administrative law 
 
 
 
the law serves to 
1) keep the peace 
2) maintain the status quo 
3) preserve individual rights 
4) protect minorities against majorities 
5) promote social justice 
6) provi...
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WGU C713 Business Law Complete Study Set
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buyer invests money in a common enterprise and expects profit from others work - 
Security 
Government securities, bank securities, short term notes, non profit issues, 
insurance policy, annuity contracts - Exempt Securities 
Federal agency that enforces securities laws. - SEC (Securities and Exchange 
Commission) 
Bring cease and desist order against those who violate the law and can levy fines or 
confiscate profits from illegal transactions. - Functions of SEC 
Criminal action for SEC vio...
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