Question 1

A constitution sets forth a government's

Accepted Answer

A)  limits, but not powers. 
B)  limits and powers. 
C)  neither limits nor powers. 
D)  powers, but not limits. 
A)  limits, but not powers. 
B)  limits and powers. 
C)  neither limits nor powers. 
D)  powers, but not limits.

Question 2

Federico and Gwen are involved in a court proceeding to enforce a right. This is

Accepted Answer

A)  an action. 
B)  stare decisis. 
C)  an injunction. 
D)  a remedy. 
A)  an action. 
B)  stare decisis. 
C)  an injunction. 
D)  a remedy.

Question 3

If an agency fails to follow the rulemaking procedures imposed by the Administrative Act, the resulting rule may not be binding.

Accepted Answer

A) True 
 B)False

Question 4

Civil law has to do with wrongs committed against society for which society demands redress.

Accepted Answer

A) True 
 B)False

Question 5

The legal rules that control a business's actions reflect past and current thinking about how similar businesses should and should not act.

Accepted Answer

A) True 
 B)False

Question 6

Because laws may change, the ability to analyze and evaluate the legal ramifications of situations as they arise is not a lasting skill.

Accepted Answer

A) True 
 B)False

Question 7

In a criminal case, the object is to obtain a remedy.

Accepted Answer

A) True 
 B)False

Question 8

A statute is a secondary source of law.

Accepted Answer

A) True 
 B)False

Question 9

The National Rights Council, a nonprofit organization, files a suit against the U.S. Department of Justice (DOJ), claiming that a certain federal statute the DOJ is empowered to enforce conflicts with the U.S. Constitution and with a state constitution. In each situation, which source of law has priority?

Accepted Answer

The U.S. Constitution is the supreme law

Question 10

The study of business law does not involve an ethical dimension.

Accepted Answer

A) True 
 B)False

Question 11

At one time, a court of law could grant as a remedy only

Accepted Answer

A)  monetary damages. 
B)  an order to perform a contract as promised. 
C)  a judicial proceeding for the resolution of a dispute. 
D)  an injunction. 
A)  monetary damages. 
B)  an order to perform a contract as promised. 
C)  a judicial proceeding for the resolution of a dispute. 
D)  an injunction.

Question 12

Courts will not grant an equitable remedy unless the remedy at law is adequate.

Accepted Answer

A) True 
 B)False

Question 13

Persons who favor the creation of a federal agency to regulate the production of genetically modified agricultural products should concentrate their lobbying efforts on

Accepted Answer

A)  Congress. 
B)  administrative agencies that oversee agricultural products. 
C)  the United States Supreme Court. 
D)  the president of the United States. 
A)  Congress. 
B)  administrative agencies that oversee agricultural products. 
C)  the United States Supreme Court. 
D)  the president of the United States.

Question 14

Home Care Company is charged with violating a rule of the Social Security Administration. Most likely, Home Care will be required to appear at a hearing presided over by

Accepted Answer

A)  a federal appellate court judge. 
B)  a federal district court judge. 
C)  an administrative law judge. 
D)  a U.S. Marshal. 
A)  a federal appellate court judge. 
B)  a federal district court judge. 
C)  an administrative law judge. 
D)  a U.S. Marshal.

Question 15

The means to enforce a right or compensate for the violation of a right is

Accepted Answer

A)  a cornerstone. 
B)  a remedy. 
C)  jurisdiction. 
D)  stare decisis. 
A)  a cornerstone. 
B)  a remedy. 
C)  jurisdiction. 
D)  stare decisis.

Question 16

A precedent is any legal authority or source of law that a court may look to for guidance but need not follow when making its decision.

Accepted Answer

A) True 
 B)False

Question 17

Common law rules develop from

Accepted Answer

A)  principles underlying judges' decisions in actual controversies. 
B)  regulations issued by administrative agencies. 
C)  statutes enacted by Congress and the state legislatures. 
D)  uniform laws drafted by legal scholars. 
A)  principles underlying judges' decisions in actual controversies. 
B)  regulations issued by administrative agencies. 
C)  statutes enacted by Congress and the state legislatures. 
D)  uniform laws drafted by legal scholars.

Question 18

The Environmental Protection Agency (EPA) discovers that Fish Farm Inc. has violated an EPA regulation. If no settlement is reached, the EPA can

Accepted Answer

A)  issue a formal complaint. 
B)  do nothing. 
C)  take the matter to the U.S. Supreme Court. 
D)  immediately impose sanctions. 
A)  issue a formal complaint. 
B)  do nothing. 
C)  take the matter to the U.S. Supreme Court. 
D)  immediately impose sanctions.

Question 19

Rules issued by administrative agencies affect almost every aspect of a business's operations.

Accepted Answer

A) True 
 B)False

Question 20

Stare decisis is best defined as

Accepted Answer

A)  a doctrine under which judges follow established precedents. 
B)  the authority to decide a specific dispute. 
C)  a judicial proceeding to redress a wrong. 
D)  a situation giving a person a right to initiate a judicial proceeding. 
A)  a doctrine under which judges follow established precedents. 
B)  the authority to decide a specific dispute. 
C)  a judicial proceeding to redress a wrong. 
D)  a situation giving a person a right to initiate a judicial proceeding.

Exam 1: Law and Legal Reasoning

A constitution sets forth a government's

Federico and Gwen are involved in a court proceeding to enforce a right. This is

If an agency fails to follow the rulemaking procedures imposed by the Administrative Act, the resulting rule may not be binding.

Civil law has to do with wrongs committed against society for which society demands redress.

The legal rules that control a business's actions reflect past and current thinking about how similar businesses should and should not act.

Because laws may change, the ability to analyze and evaluate the legal ramifications of situations as they arise is not a lasting skill.

In a criminal case, the object is to obtain a remedy.

A statute is a secondary source of law.

The study of business law does not involve an ethical dimension.

At one time, a court of law could grant as a remedy only

Courts will not grant an equitable remedy unless the remedy at law is adequate.

Persons who favor the creation of a federal agency to regulate the production of genetically modified agricultural products should concentrate their lobbying efforts on

Home Care Company is charged with violating a rule of the Social Security Administration. Most likely, Home Care will be required to appear at a hearing presided over by

The means to enforce a right or compensate for the violation of a right is

A precedent is any legal authority or source of law that a court may look to for guidance but need not follow when making its decision.

Common law rules develop from

The Environmental Protection Agency (EPA) discovers that Fish Farm Inc. has violated an EPA regulation. If no settlement is reached, the EPA can

Rules issued by administrative agencies affect almost every aspect of a business's operations.

Stare decisis is best defined as

Constitutional Law

Ethics in Business

Courts and Alternative Dispute Resolution

Tort Law

Product Liability

Intellectual Property Rights

Internet Law, Social Media, and Privacy

Criminal Law and Cyber Crime

Nature and Classification

Agreement

Consideration

Capacity and Legality

Voluntary Consent

The Statute of Fraudswriting Requirement

Performance and Discharge

Breach and Remedies

Third Party Rights

The Formation of Sales and Lease Contracts

Title and Risk of Loss

Performance and Breach of Sales and Lease Contracts

Negotiable Instruments

International and Space Law

Banking in the Digital Age

Security Interests and Creditors Rights

Bankruptcy

Agency Relationships in Business

Employment, Immigration, and Labor Law

Employment Discrimination

Sole Proprietorships and Franchises

All Forms of Partnership

Limited Liability Companies and Special Business Forms

Corporate Formation and Financing

Corporate Directors, Officers, and Shareholders

Corporate Mergers, Takeovers, and Termination

Investor Protection, Insider Trading, and Corporate Governance

Administrative Law

Antitrust Law and Promoting Competition

Consumer and Environmental Law

Liability of Accountants and Other Professionals

Personal Property and Bailments

Real Property and Landlord-Tenant Law

Insurance, Wills, and Trusts

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