Business Law Exam Questions PDF

Business Law HEY JUST COPY THE TEST FROM THE DOCUMENT ITALICIZED OPTIONS ARE THE CORRECT ANSWERS PLEASE DON’T REWRITE QUESTIONS KEEP IT AS IN DOCUMENT 1 If the enriched person has used the benefit (in case of g...

Business Law HEY JUST COPY THE TEST FROM THE DOCUMENT ITALICIZED OPTIONS ARE THE CORRECT ANSWERS PLEASE DON’T REWRITE QUESTIONS KEEP IT AS IN DOCUMENT 1 If the enriched person has used the benefit (in case of groundless enrichment): a) he is to hand it over anyway b) he is not obligated anymore c) he is to hand over its value d) he is to hand over its value if he should have taken into account the obligation to return it 2 Damage should be redressed: a) at the aggrieved party's choice b) at the perpetrator's choice c) always by restoring the previous condition d) always by paying a relevant sum of money3 The basic condition for the tort liability is not: a) unlawful damage b) causal relationship c) fault d) damage 4 It is true that: a) tort liability is always based on fault b) is never based on fault Business Law 1  c) is sometimes based on risk d) is never based on risk 5 The creditor may demand a personal performance on the part of the debtor: a) only if that follows from the contents of the act in law, from statutory law, or from the nature of the performance b) always c) never d) only if that follows from the contents of the act in law, from statutory law 6 The performance may consist in: a) act b) omission c) act and omission d) act or omission 7 Each co-owner may dispose of his share (in case of co-ownership): a) without the consent of the remaining co-owners b) with the consent of the remaining co-owners c) without the consent of the court and with the consent of the remaining co-owners d) with the consent of court 8 The authorization to act on behalf of another person based on the declaration made by the person represented is called: a) statutory representation b) power of attorney c) statutory representation or power of attorney d) statutory representation and power of attorney 9 When a declaration of intent is to be made in the form of notarial deed and this condition was not fulfilled the legal act is: a) null and void b) it is valid but this person may evade the legal effects of his declaration c) it is valid and this person may not evade the legal effects of his declaration d) it is valid but this person may evade the legal effects of his declaration but only in contracts 10 According to the Civil Code a public display of a thing in the place of sale with an indication of its price is deemed: a) a sale contract Business Law 2  b) a sale proposal c) a sale offer d) an offer 11 The remedy of damage covers: a) Only the losses which the aggrieved party has suffered b) only the benefits which it could have obtained had it not suffered the damage c) the losses which the aggrieved party has suffered, or the benefits which it could have obtained had it not suffered the damage d) the losses which the aggrieved party has suffered, and the benefits which it could have obtained had it not suffered the damage 12 The burden of proving a fact lies with the person who: a) draws effects from that fact b) draws legal effects from that fact c) does not draw effects from that fact d) does not draw legal effects from that fact 13 A sale contract as a rule: a) transfers the ownership of the fungibles to the acquirer b) transfers the ownership of goods in specie to the acquirer c) answers A and B are correct d) no correct answer 14 A contract creating an obligation to transfer the ownership of real estate in Poland: a) may be executed in the form of a notarial deed b) should be executed in the form of a notarial deed c) should be executed in writing d) should be executed in writing or in the form of a notarial deed 15 Anyone who without legal grounds has gained a financial benefit at the expense of another person: a) is not obliged to hand over the benefit in kind, and if this is not possible, to return its value b) is obliged to hand over the benefit in kind Business Law 3  c) is obliged to hand over the benefit in kind and if this is not possible, to return its value d) is obliged to return its value 16 The creditor: a) may demand a performance from the debtor. and the debtor is obliged to provide the performance b) may demand a performance from the debtor when the debtor is obliged to provide the performance c) must demand a performance from the debtor. and the debtor is obliged to provide the performance d) must demand a performance from the debtor when the debtor is obliged to provide the performance 17 The debtor: a) can without the creditor's consent, release himself from the obligation by the payment of the contractual penalty b) cannot, without the creditor's consent, release himself from the obligation by the payment of the contractual penalty c) may, without the creditor's consent, release himself from the obligation by the payment of the contractual penalty d) may not, without the creditor's consent, release himself from the obligation by the payment of the contractual penalty 18 The debtor shall be obliged to act with: a) diligence required in the relationships of a given kind b) diligence usually required in the relationships of a given kind c) diligence generally required in the relationships of a given kind d) diligence always required in the relationships of a given kind 19 Due diligence: a) diligence required in the relationships of a given kind b) diligence usually required in the relationships of a given kind c) diligence generally required in the relationships of a given kind d) diligence always required in the relationships of a given kind Business Law 4  20 If the object of the obligation from its beginning is a sum of money, the performance shall be made by: a) the payment of the basic sum unless special provisions state otherwise b) the payment of the nominal sum unless contract states otherwise c) the payment of the nominal sum d) the payment of the nominal sum unless special provisions state otherwise 21 A contract for an impossible performance is: a) valid b) not binding c) null and void d) valid but the debtor may terminate the contract 22 That right to renounce the contract shall be exercised by: a) a statement made to the other party b) a declaration made to the other party c) a notice made to the other party d) a public announcement 23 Whoever without legal grounds has gained a material benefit at the expense of another person shall be obliged: a) to return that benefit in kind and, if that is impossible, to return its value b) to return its value c) to return that benefit in kind d) 1 3 are correct 24 A minor who has not attained the age of thirteen years is: a) liable for a damage caused by him b) not liable for a damage caused by him c) responsible for a damage caused by him d) not responsible for a damage caused by him 25 If several persons are liable for a damage caused by a tort, their liability is: a) joint and several Business Law 5  b) individual c) joint d) several 26 If nothing else follows from a special provision of statutory law or the act in law, the debtor shall be liable for the non-observance of: a) basic diligence b) diligence c) due diligence d) agreed diligence 27 If the performance becomes impossible as a result of circumstances for which the debtor is not liable, the obligation shall: a) expire b) end c) be null and void d) be not valid 28 The redress of the damage resulting from the non-performance or an improper performance of a non-pecuniary obligation shall take place by the payment of a specified sum: a) always b) when it was stipulated in the offer c) when it was stipulated in the contract d) never 29 Where two persons are both creditors and debtors with respect to one another, each of them may: a) set on his receivable debt from the receivable debt of the other b) set out his receivable debt from the receivable debt of the other c) set in his receivable debt from the receivable debt of the other d) set off his receivable debt from the receivable debt of the other 30 A third party: a) may not take the place of the debtor, who shall be thereby released from the debt b) can take the place of the debtor, who shall be thereby released from the debt Business Law 6  c) may take the place of the debtor, who shall be thereby released from the debt d) may not take the place of the debtor, who shall be thereby released from the debt 31 Partnership shall be represented by: a) general partners b) shareholders c) management board d) shareholders meeting 32 Shareholders: a) may always represent the partnership b) may not represent the partnership c) may represent the partnership only in the capacity of an attorney d) may not represent the partnership in the capacity of an attorney 33 The transfer of a share in a limited liability company shall be executed: a) in writing, with the signatures notarially certified b) in writing c) in the form of a notarial deed d) in any form 34 Entitled to dividend for a given financial year shall be: a) those shareholders, who were entitled to shares on the date of the resolution on distribution of profit b) all shareholders c) those shareholders, who were not entitled to shares on the date of the resolution on distribution of profit d) those shareholders, who are entitled to shares on the date of the payment of the profit 35 The management board of a limited liability company shall be composed of: a) one member b) two members c) one or more members d) two or more members 36 The management board shall: a) manage the affairs of the company Business Law 7  b) represent the company c) manage the affairs of the company or represent the company d) manage the affairs of the company and represent the company37 An ordinary meeting of shareholders shall: a) be held no later than six months after the end of each financial year b) be held no later than five months after the end of each financial year c) be held no later than seven months after the end of each financial year d) be held no later than eight months after the end of each financial year 38 The management board of a stock company shall be composed of: a) one member b) two members c) one or more members d) two or more members 39 The procuration of a stock company: a) may be revoked by any member of the management board b) may be revoked by all members of the management board c) may be revoked by two members of the management board d) may be revoked by three members of the management board 40 A management board member or a procurator: a) shall be members of the supervisory board at the same time b) shall not be members of the supervisory board at the same time c) may not be members of the supervisory board at the same time d) may be members of the supervisory board at the same time41 The general meeting of a stock company: a) shall be convened by the management board b) shall be convened by the supervisory board c) shall be convened by the president of the management board d) shall be convened by the management board 42 A limited partner shall: Business Law 8  a) be released from liability up to the value of contribution made to the partnership b) be not released from liability c) be released from liability up to the value of his share in the partnership d) be released from liability up to the value of payments made to the partnership 43 Warranty is: a) the buyer's liability for defects of the sold thing b) the seller's liability for defects of the sold thing c) the producer's liability for defects of the sold thing d) the producer's and seller's liability for defects of the sold thing 44 Displaying a thing to the public at the place of sale with the indication of the price shall be deemed to be: a) an offer b) a statement c) an offer of sale d) an agreement 45 The liability under warranty: a) may not be modified b) may be extended c) may be extended, limited or excluded d) may not be excluded 46 The seller shall be liable under warranty for the physical defects which existed at the time: a) the risk passed to the buyer or arose from a cause inherent in the thing sold at that very moment b) the ownership was transferred to the buyer or arose from a cause inherent in the thing sold at that very moment c) the risk passed to and ownership was transferred the buyer or arose from a cause inherent in the thing sold at that very moment d) always 47 The remuneration for the specific work may be defined by: Business Law 9  a) the indication of the basis of its calculation b) a lump-sum payment c) the indication of the basis of its calculation only d) a lump-sum payment only 48 The person accepting the order shall receive his remuneration: a) at any time b) upon signing the contract c) before the delivery of the work d) at the time of delivery of the work 49 If the date of payment of the rent is not specified in the contract, the rent shall be paid: a) at any time b) at the end of the period of the contract c) in advance d) at the beginning of the month 50 A contract of loan may be concluded by: a) anyone b) banks only c) credit institutions d) private persons and banks 51 By a contract of mandate: a) the mandatary shall assume the obligation to perform for the creditor b) the mandatary shall assume the obligation to perform a definite performance in law for the mandator c) the mandatary shall assume the obligation to perform a definite act in law d) the mandatary shall assume the obligation to perform a definite act in law for the mandator 52 The agent shall be empowered to conclude contracts in the name of the principal and to receive declarations for the latter: a) only if he has an authorization b) always c) never d) if he has authorization Business Law 10  53 The following shall not be a commercial partnership: a) a registered partnership b) a professional partnership c) a limited partnership d) a partnership 54 The following is not a legal person: a) a limited partnership b) a limited liability company c) a stock company d) a foundation 55 In a registered partnership partners: a) are liable for obligations of the partnership without limits b) are not liable for obligations of the partnership c) are liable for obligations of the partnership, with limits d) only the partnership is liable for its obligations 56 A limited partnership requires: a) a shareholder b) a general partner c) a limited partner d) a general partner and a limited partner 57 A legal person has: a) legal capacity b) legal personality c) legal capacity or legal personality d) legal capacity and legal personality 58 If a legal person cannot be represented, the court shall appoint: a) a management board for it Business Law 11  b) a curator for it c) a guardianship for it d) a power of attorney for it 59 An act in law performed by a person who has no legal personality for acts in law shall be: a) valid b) null and void c) null or void d) not valid 60 A legal person shall act through: a) its bodies b) its representatives c) its management board d) its curator 61 An entrepreneur shall be: a) a natural person b) a legal person c) an organizational unit with legal capacity d) a natural person, a legal person and an organizational with legal capacity62 The entrepreneur shall operate under: a) a business name b) a name c) a trade name d) a trade name in case of a legal person 63 Things, within the meaning of the Polish Code, shall be: a) material objects b) only material objects c) material and not material objects d) only not material objects 64 A component part of a thing: Business Law 12  a) is a separate object of ownership and other property rights b) can be a separate object of ownership and other property rights c) cannot be a separate object of ownership and other property rights d) is not a separate object of ownership and other property rights 65 An enterprise shall be an organized complex of: a) material components designed for carrying on an economic activity b) non-material components designed for carrying on an economic activity c) material or non-material components designed for carrying on an economic activity d) material and non-material components designed for carrying on an economic activity 66 Buildings and other facilities permanently connected with the lands, shall be considered: a) separate things b) component parts of the building c) component parts of the facility d) component parts of the land 67 The intention of a person performing an act in law may be expressed by: a) any behaviour of that person which manifests that intention sufficiently, including the fact of revealing this intention in electronic form b) declaration of that person which manifests that intention sufficiently, including the fact of revealing this intention in electronic form c) statements which manifests that intention sufficiently, including the fact of revealing this intention in electronic form d) any of that person which manifests that intention sufficientiy 68 A declaration of intent which is to be made to another person shall be deemed made at the moment when it: a) has not reached that person in such a way that he could have acquainted himself with its contents b) has reached that person in such a way that he could have acquainted himself with its contents c) has reached that person in such a way that he must have acquainted himself with its contents Business Law 13  d) has reached that person in such a way that he may have acquainted himself with its contents 69 A declaration made to another party of the intent to conclude a contract shall be deemed: a) an offer if it determines the essential provisions of the contract b) a sale offer if it determines the essential provisions of the contract c) an offer if it determines the basic of the contract d) an offer it it determines the all provisions of the contract70 The offer may: a) not be revoked if such results from its contents or a time limit has been fixed therein b) be revoked if such results from its contents or a time limit has been fixed therein c) not be revoked d) be revoked any time 71 Announcements, advertisements, price lists and other information addressed to the public or to particular persons shall be considered, in case of doubt: a) an offer but an invitation to conclude a contract b) not an offer but an invitation to conclude a contract c) an offer and an invitation to conclude a contract d) not an offer and an invitation to conclude a contract 72 A declaration of intent made by a person who for any reason was in a state precluding a conscious or free making of a decision and declaration of intent shall: a) be null b) valid c) be evaded the legal effects of his declaration d) be null and void 73 A general power of attorney shall be made: a) in writing under pain of nullity b) in the form of a notarial deed c) in writing d) the form of a notarial deed under pain of nullity 74 An attorney: Business Law 14  a) may not appoint other attorneys for the principal only if such authorization follows from statutory law b) may appoint other attorneys for the principal only if such authorization follows from the contents of his power of attorney c) may appoint other attorneys for the principal only if such authorization follows from the contents of his power of attorney d) may not appoint other attorneys for the principal at all75 A procurator (business representative) may be: a) a natural person having full capacity for acts in law b) a legal person having full personality c) a natural or a legal person d) only a legal person 76 Procuration (business representative) may: a) not be revoked b) always be revoked c) be revoked at the end of the calendar year d) not be revoked at the beginning of the calendar year 77 Upon the death of a procurator: a) procuration does not expire b) procuration may be revoked c) procuration may not be revoked d) procuration expires78 The owner of a thing: a) may dispose of that thing b) may not dispose of that thing c) may not use that thing d) may not collect the fruits and other incomes from that thing Business Law 15