Ohio Business Law Analyst Exam

Ohio Business Law Analyst Exam Practice Questions And Correct Answers (Verified Answers) Plus Rationales 2025|2026 Q&A | Instant Download Pdf

• Which of the following is required for a valid contract under Ohio law?
• Offer and advertisement
• Offer, acceptance, and consideration
• Offer, acceptance, and notarization
• Promise and payment

Rationale: A valid contract requires offer, acceptance, and consideration as

essential elements under Ohio contract law.

2. Under Ohio law, a contract made by a minor is generally:

• Enforceable by either party
• Voidable at the option of the minor
• Automatically void
• Enforceable if witnessed 1 / 4

Rationale: Contracts by minors are voidable at the minor’s discretion to

protect against exploitation.

3. The Statute of Frauds in Ohio requires certain contracts to be:

• Written in plain language
• In writing and signed by the party to be charged
• Witnessed by two parties
• Filed with the county recorder

Rationale: Ohio’s Statute of Frauds mandates written evidence for

contracts like real estate or those over one year.

4. The Uniform Commercial Code (UCC) primarily governs:

• Real estate transactions
• Employment agreements
• Sales of goods
• Service contracts

Rationale: The UCC applies to transactions involving movable goods, not

real estate or services.

5. A partnership in Ohio is formed when: 2 / 4

• Two or more persons sign a written partnership agreement
• Two or more persons carry on a business for profit as co-owners
• A certificate is filed with the Secretary of State
• Profits are shared unequally

Rationale: Partnership existence depends on intent and sharing profits, not

formal documentation.

6. An Ohio limited liability company (LLC) provides:

• Unlimited liability for members
• Limited liability and flexible management
• Tax exemption by default
• No separation between owners and business

Rationale: LLCs limit member liability while allowing management

flexibility and pass-through taxation.

7. In Ohio, articles of incorporation are filed with:

• The county clerk
• The Secretary of State
• The Department of Commerce
• The Attorney General

Rationale: Corporations are legally formed in Ohio by filing with the

Secretary of State. 3 / 4

8. The primary duty of an agent to a principal is:

• Compensation
• Control
• Loyalty
• Disclosure to third parties

Rationale: An agent owes a fiduciary duty of loyalty to act in the principal’s best interest.

• Which of the following best describes apparent authority?
• Authority expressly stated in writing
• Authority implied from position
• Authority perceived by third parties based on principal’s actions
• Authority given after the act

Rationale: Apparent authority arises when a principal’s conduct makes

others believe the agent is authorized.

10. Under Ohio employment law, “at-will” employment means:

• Employers must give notice before termination
• Either party may end employment at any time without cause
• Employees can only be terminated for misconduct
• Contracts are always implied
• / 4