80 Business Law Trivia Questions with Answers
80 public questions with answers, drawn from the well. How many can you answer?
Business law trivia covers the legal rules behind corporations, contracts, employment, securities, taxation, shareholder protection, and international commerce. Questions may focus on Delaware’s influential corporate statute, the doctrine governing an employer’s responsibility for employee actions, or the treaty used for international sales contracts.
The hub also includes major legal landmarks, from the Sarbanes-Oxley Act and the creation of the Public Company Accounting Oversight Board to Supreme Court decisions involving corporate political spending and online sales tax. It is designed for law students, business learners, classroom review, pub quizzes, and players who enjoy applying legal concepts to real companies and commercial disputes.
What legal doctrine holds an employer liable for an employee's acts within the scope of employment?
Answer
Respondeat superior
What 2002 US federal law established the Public Company Accounting Oversight Board?
Answer
Sarbanes-Oxley Act of 2002
What 2010 US Supreme Court case held that corporations have free speech rights in political campaign spending?
Answer
Citizens United v. FEC
What 2018 US Supreme Court case overruled the Quill sales tax nexus standard for online retailers?
Answer
South Dakota v. Wayfair
What is the legal term for a lawsuit brought by shareholders on behalf of a corporation?
Answer
Derivative suit
What is the legal term for a contract in which one party has not yet performed their obligations?
Answer
Executory contract
Under Delaware corporate law, what vote is required to approve a merger?
Answer
Majority of outstanding shares
What is the legal term for a court's power to hear a case?
Answer
Jurisdiction
What US federal law prohibits 'unfair or deceptive acts or practices' in commerce?
Answer
Federal Trade Commission Act
Under US copyright law, what is the duration of copyright for works created by an individual after 1978?
Answer
Life of the author plus 70 years
In Delaware corporate law, what is the default voting standard for electing directors?
Answer
Plurality voting
What is the legal doctrine for interpreting ambiguous contract terms against the drafter?
Answer
Contra proferentem
What is the term for the written document that creates a corporation?
Answer
Articles of incorporation
What US federal law prohibits bribery of foreign officials by companies?
Answer
Foreign Corrupt Practices Act
What US federal law requires registration of securities for public sale?
Answer
Securities Act of 1933
What US federal law governs collective bargaining and labor unions?
Answer
National Labor Relations Act
What US federal law requires equal pay for equal work regardless of gender?
Answer
Equal Pay Act of 1963
What US federal law requires employers to provide unpaid family and medical leave?
Answer
Family and Medical Leave Act
What is the legal standard of proof in most US civil cases?
Answer
Preponderance of the evidence
What is the name of a business owned and operated by one person?
Answer
Sole proprietorship
What US federal law prohibits discrimination based on disability?
Answer
Americans with Disabilities Act
What legal doctrine allows a court to remove an unconscionable term from a contract?
Answer
blue pencil doctrine
What 1986 Delaware Supreme Court case held that directors must seek the highest price in a sale?
Answer
Revlon, Inc. v. MacAndrews & Forbes Holdings
What chapter of the US Bankruptcy Code allows business reorganization?
Answer
Chapter 11
What US law prohibits age discrimination in employment?
Answer
Age Discrimination in Employment Act
What international treaty enables a single patent application for multiple countries?
Answer
Patent Cooperation Treaty
What type of corporation has a limited number of shareholders and informal operations?
Answer
close corporation
What 1986 law requires employer verification of work authorization?
Answer
Immigration Reform and Control Act
What 1985 Delaware Supreme Court case defined directors' duty of care?
Answer
Smith v. Van Gorkom
What legal doctrine requires certain contracts to be in writing?
Answer
Statute of Frauds
What US federal law protects trademarks?
Answer
Lanham Act
What legal term describes a self-employed worker who controls their own schedule?
Answer
independent contractor
What is the term for a company whose shares are publicly traded?
Answer
public company
What 1995 US law limited securities class-action lawsuits?
Answer
Private Securities Litigation Reform Act
Business Law trivia — quick answers
What are good business law trivia questions?
Good business law questions cover corporations, contracts, employment, securities regulation, taxation, liability, and landmark court cases. Examples include identifying the law that created the PCAOB, naming the treaty governing international sales, explaining shareholder limited liability, and recognizing the Supreme Court case that changed online sales-tax rules.
How hard is business law trivia?
Business law trivia is often more challenging than general business trivia because it requires both terminology and legal context. Easier questions test famous laws or doctrines, while harder ones involve Delaware corporate rules, international commercial agreements, Supreme Court decisions, and the precise effect of statutes on companies and shareholders.
What is the CISG?
The CISG, or United Nations Convention on Contracts for the International Sale of Goods, is an international treaty governing many cross-border sales contracts. It addresses issues such as contract formation, seller and buyer obligations, delivery, conformity of goods, remedies, and damages. Its application depends on the countries and circumstances involved.
What law created the Public Company Accounting Oversight Board?
The Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board, or PCAOB. The law was enacted after major corporate accounting scandals and aimed to strengthen public-company auditing, executive accountability, financial reporting, and auditor oversight. The PCAOB sets and enforces standards for registered public-company auditors.
What does limited liability mean for shareholders?
Limited liability generally means shareholders are not personally responsible for a corporation’s debts merely because they own shares. Their financial exposure is ordinarily limited to the amount invested. This protection is a central feature of the corporate form, although courts may disregard it in exceptional circumstances, such as misuse of the corporation.