FBLA Business Law

4. Offer. A merchant's written promise to hold an offer open for the sale or lease of goods
8. The act of placing one's signature on an instrument, usually on the back, to transfer it to another
11. Relationship. A relationship based on trust
13. Bargaining. A process in which union and management representatives get together to work out issues such as wages, working conditions, and hiring and firing policies
15. Clause. A statement in Article 1 of Constitution giving Congress power to regulate commerce among states
18. When a government seizes a privately owned business to be used for a public service
19. Interest. The financial interest a policy holder has in the person or property that is insured
21. Negligence. A defense against negligence which is raised when the carelessness of each party is compared to the carelessness of the other party
22. When 2+ companies join together to form a new corporation

1. The person who orders money to be paid in a draft
2. A minor offense that is usually punishable with a fine and not with jail time
3. Law. A set of laws made by the courts that provide a series of consistent rules that later courts must follow. Originated in England
4. The act of not doing what you have the right to do
5. The person to whom an order is given to pay money in a draft
6. The property that is offered as a security interest
7. Tradiing. When a corporate director or officer buys or sells shares in a corporation based on firsthand about the corporation that is not available to the public
9. Items of personal property attached in such a way that they become real property
10. A major crime
12. Fair payment for the job performed
14. A court order that prevents a party from performing a specific act
16. The exchange of benefits and detriments by the parties to a contract
17. A corporation that owns many different types of companies
20. Charge. The cost of the loan in dollars and cents
22. Carrier. A carrier that is compensated for providing transportation to the general public