Business Law Quiz

According to Cicero, law is described as what?

• A form of social control

• A set of rules to predict court outcomes

• A rule of conduct

• An agreement of reason and nature

What is the first written law in Ethiopia mentioned in the text?

• Customary practices

• Constitutional law

• Fetha Negast

• Civil Code

Which of the following is NOT a feature of law?

• Law is established in permanence

• Law is obligatory

• Law is optional

• Law has to be made by a competent authority

What does substantive law primarily define?

• Legal remedies

• Rights and duties

• The enforcement of laws

• The process of litigation

Which type of law governs the acts of individuals in their private capacity?

• Private Law

• Public Law

• Criminal Law

• Administrative Law

What is the primary function of law as mentioned in the text?

• To create social chaos

• To guide how individuals and groups should act

• To limit freedoms

• To punish wrongdoers

What is required for a valid contract according to Article 1678 of the Civil Code?

• The contract must be notarized

• The parties must be friends

• The object must be defined and lawful

• The contract must be verbal

Which of the following is NOT a defect in consent?

• Mistake

• Fraud

• Duress

• Agreement

What is the effect of a contract once formed?

• It requires government approval

• It is binding as though it were law

• It can be ignored

• It is optional for the parties

What is the primary obligation of the seller in a sales contract?

• To negotiate the price

• To provide a warranty

• To deliver the thing

• To pay the buyer