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!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What type of law covers relationships between groups of persons, such as corporations and shareholders?

Commercial Law
Criminal Law
Contract Law
Corporate Law

The correct answer is: Corporate Law

Corporate Law covers relationships between groups of persons, specifically corporations and shareholders. This type of law deals with the creation, management, and dissolution of corporations, as well as how they interact with their shareholders. It also covers matters such as corporate governance, mergers and acquisitions, and securities regulations. Options A (Commercial Law) and C (Contract Law) may involve relationships between groups of individuals, but they do not specifically pertain to corporations and shareholders. Option B (Criminal Law) primarily deals with crimes and offenses committed by individuals. Therefore, option D (Corporate Law) is the most appropriate answer for this question.