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 type of law does a contract fall under?

Tort law
Common law
Dispute resolution law
Contract law

The correct answer is: Contract law

A Tort law deals with civil wrongs that can result in damages or harm to a person or their property. It does not pertain to contracts. B: Common law is a system of laws based on precedents established by courts, not specific to any particular type of law. C: Dispute resolution law is a broad term that encompasses various methods of resolving conflicts, including mediation, arbitration, and litigation. While contract disputes may fall under this category, it is not the specific type of law that contracts fall under. Overall, contract law is a separate and distinct area of law that deals specifically with agreements between parties and the enforcement of those agreements. Therefore, a contract falls under contract law.