Exam 1: Law As a Foundation for Business

Contract law compensates owners whose resources are wrongfully harmed by the actions of others.

Which of the following schools of jurisprudence emphasizes that contemporary law should focus on legal principles that have withstood the test of time in a nation?

Distinguish between holding and dicta in prior precedent.

The source of law that ranks the lowest among all the others is a _____.

Natural law theory asserts that law contains universal moral principles.

List the various sources of law and their order of hierarchy.

Which of the following statements is true of a breach of contract?

Briefly describe civil law and criminal law.

Corporate governance can fail even when corporate managers do nothing illegal.

The Fourteenth Amendment recognizes that law may be enforced by taking resources owned by a citizen.Name the instances in which someone's resources may be taken.

A strict liability tort requires the plaintiff to show that a defendant injured what was proper to a plaintiff through unreasonable behavior.

Why is law considered to be a formal social force?

Sociological jurisprudence emphasizes that contemporary law should focus on legal principles that have withstood the test of time in a nation.

When judges who decide appeals from trial courts make decisions on legal issues,they write their decisions,or _____,setting out reasons.

According to _____,judges in current cases follow whenever possible the interpretation of law determined by judges in prior cases.

What are compensatory damages?

Legal realism is the idea that courts should understand the meaning of the Constitution relative to the times in which they interpret it.

Jurisprudence is the rule of law.

Sanctions for breach of contract include death sentences.

Tort law helps protect property boundaries by providing compensation when someone wrongfully crosses such boundaries.