Intro to Business Law

[goalphish2002]

Hi everyone...I have decided to take Intro to Business Law over the U.S. History II for my second clep attempt (1st was Human Growth- 63). I think that the material is somewhat easier myself because I have taken courses in real estate and appraisal law. Wish me luck and I wouldn't mind some support or advice from anyone. This clep, if I pass, will leave me only two courses in the summer to graduate from the University of Alabama. Btw...I wish I had taken many more of these in the past. I tell many people about clep and 90% of people don't know what it is.

[williamfrancais]

One thing I would say is I had several questions that looked really complexed but on the first line it said 17 year old and contract, remember 18 year olds can sign contracts, not 17.

[Namivie]

I used the instant cert cards, but I also used Barron's Business Law book. What I love about the book is that it has scenario's (and the answers to the scenarios). On my business law clep test, there were lots of scenarios so that was very very helpful to use to prepare. It's a $12 book (new) at amazon. The isbn is 0764119842.

[malcs]

One thing I would say is I had several questions that looked really complexed but on the first line it said 17 year old and contract, remember 18 year olds can sign contracts, not 17.

There are a number of scenarios with this, and you need to know them all, including:
1) What happens if signed just before majority age
2) What happens if signed just before majoity age, and item gets destroyed a few days after majority age. (Seller can still be the loser if recent contract)
3) Who has right of recision
4) When the person would have a right to return a crashed car
5) Who the court would favor under the different circumstances.
6) Different handling of necessary items vs non-necessary
7) What constitutes ratification of a contract created while someone was a minor.
8) What majority age means

And a slight correction to the above post...
Anyone can sign a contract, even someone who has not reached majority age. Most of the time the contract will be enforced until the minor rescinds the contract.

I used REA for this exam and passed with 70,(A), yesterday. There is a good overview and it has two full length tests.

I would have done even better, but ran out of time near the end.

See the exam specific thread for study guides and video links.

Watch these videos:
Tort Law Terms (Money & Careers: Tort Law)
Business Law |Contract Law Playlist

Best of luck