Introductory Business Law CLEP Prep Practice Exam

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Prepare for the CLEP Business Law Exam with flashcards and multiple-choice questions. Each question comes with hints and explanations to help you succeed. Master the content and pass your exam!

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What body of laws covers the rights of parties in contracts?

Civil Law
Criminal Law
Common Law
Corporate Law

The correct answer is: Common Law

The correct answer is C Common Law. Civil Law typically deals with disputes between private parties, and while contracts may be involved, it is not specifically focused on the rights in contracts. Criminal Law applies to crimes, not contracts. Corporate Law focuses on the legal structure and obligations of corporations, not contracting parties. Common Law is a body of laws based on court decisions and precedents, and contract law falls under this category because it is primarily created and enforced by the courts.