Question 1

Regulatory law forbids owners from monopolizing classes of resources and sets rules for how businesses can compete to acquire ownership in new resources.

Accepted Answer

A) True 
 B)False

Question 2

List any two disadvantages of case law.

Accepted Answer

The disadvantages of case law are as fol

Question 3

A property-based legal system ___________.

Accepted Answer

A)  is unimportant in Western legal systems 
B)  believes that law is simply the commands of the state backed up by force and punishments 
C)  is contrary to the philosophy of natural law 
D)  does not allow for the transfer of private resources 
E)  allows people to exclude others from interfering with what their efforts produce 
A)  is unimportant in Western legal systems 
B)  believes that law is simply the commands of the state backed up by force and punishments 
C)  is contrary to the philosophy of natural law 
D)  does not allow for the transfer of private resources 
E)  allows people to exclude others from interfering with what their efforts produce

Question 4

_____ can be thought of as the central concept underlying Western legal systems.

Accepted Answer

A)  Dicta 
B)  Property 
C)  Tort law 
D)  Ethics 
E)  Eminent domain 
A)  Dicta 
B)  Property 
C)  Tort law 
D)  Ethics 
E)  Eminent domain

Question 5

Disadvantages of case law do not destroy the benefits of certainty,predictability,and stability provided by case law and stare decisis.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following statements is true of substantive law?

Accepted Answer

A)  The rules of law governing the process of a lawsuit are substantive in nature. 
B)  It deals with the method and means by which procedural law is made and administered. 
C)  The time allowed for one party to sue another is an example of substantive law. 
D)  Enforcement of a contractual promise is substantive in nature. 
E)  It provides the machinery for rights and duties. 
A)  The rules of law governing the process of a lawsuit are substantive in nature. 
B)  It deals with the method and means by which procedural law is made and administered. 
C)  The time allowed for one party to sue another is an example of substantive law. 
D)  Enforcement of a contractual promise is substantive in nature. 
E)  It provides the machinery for rights and duties.

Question 7

The administrative agencies in the City of Dover have passed a written law banning smoking in most restaurants and bars.This legislation is an example of a(n)__________.

Accepted Answer

A)  statute 
B)  act 
C)  regulation 
D)  ordinance 
E)  jurisprudence 
A)  statute 
B)  act 
C)  regulation 
D)  ordinance 
E)  jurisprudence

Question 8

What information can be obtained from the citation of a case?

Accepted Answer

To locate prior precedents,it is helpful

Question 9

Briefly describe the two major legal systems: common law and civil law.

Accepted Answer

Common law emphasizes the role of judges

Question 10

In constitutional law,the idea that courts should understand the meaning of the Constitution relative to the times in which they interpret it is known as _____.

Accepted Answer

A)  constitutional holding 
B)  legal realism 
C)  legal originalism 
D)  constitutional relativity 
E)  constitutional governance 
A)  constitutional holding 
B)  legal realism 
C)  legal originalism 
D)  constitutional relativity 
E)  constitutional governance

Question 11

What are exemplary damages?

Accepted Answer

In law,the sanction (or remedy)for torti

Question 12

Judges in civil law courts find themselves obligated to follow precedents.

Accepted Answer

A) True 
 B)False

Question 13

Corporate governance rules protect the property interest that the owners have in corporations.

Accepted Answer

A) True 
 B)False

Question 14

Punitive damages are frequently awarded in _____.

Accepted Answer

A)  ordinary negligence cases 
B)  intentional tort cases 
C)  strict liability cases 
D)  equal protection cases 
E)  overbreadth doctrine cases 
A)  ordinary negligence cases 
B)  intentional tort cases 
C)  strict liability cases 
D)  equal protection cases 
E)  overbreadth doctrine cases

Question 15

The law protecting the owners of a business organization from the managers who run it for them is _____.

Accepted Answer

A)  corporate governance 
B)  antitrust law 
C)  constitutional relativity 
D)  contract law 
E)  tort law 
A)  corporate governance 
B)  antitrust law 
C)  constitutional relativity 
D)  contract law 
E)  tort law

Question 16

Which of the following statements is true of tort law?

Accepted Answer

A)  It involves the recognition of exclusive right in both tangible and intangible resources such as copyrights, patents, trademarks, etc. 
B)  It covers the rules of how owners transfer resources by exchanging them. 
C)  It specifies various offenses against the proper order of the state. 
D)  It covers the legal principles that apply to government agencies, bureaus, boards, or commissions. 
E)  It establishes rules for compensation when an owner's legal boundaries are wrongfully crossed by another. 
A)  It involves the recognition of exclusive right in both tangible and intangible resources such as copyrights, patents, trademarks, etc. 
B)  It covers the rules of how owners transfer resources by exchanging them. 
C)  It specifies various offenses against the proper order of the state. 
D)  It covers the legal principles that apply to government agencies, bureaus, boards, or commissions. 
E)  It establishes rules for compensation when an owner's legal boundaries are wrongfully crossed by another.

Question 17

Legislation passed by the Congress is called a statute or an act.

Accepted Answer

A) True 
 B)False

Regulatory law forbids owners from monopolizing classes of resources and sets rules for how businesses can compete to acquire ownership in new resources.

List any two disadvantages of case law.

A property-based legal system ___________.

_____ can be thought of as the central concept underlying Western legal systems.

Disadvantages of case law do not destroy the benefits of certainty,predictability,and stability provided by case law and stare decisis.

Which of the following statements is true of substantive law?

The administrative agencies in the City of Dover have passed a written law banning smoking in most restaurants and bars.This legislation is an example of a(n)__________.

What information can be obtained from the citation of a case?

Briefly describe the two major legal systems: common law and civil law.

In constitutional law,the idea that courts should understand the meaning of the Constitution relative to the times in which they interpret it is known as _____.

What are exemplary damages?

Judges in civil law courts find themselves obligated to follow precedents.

Corporate governance rules protect the property interest that the owners have in corporations.

Punitive damages are frequently awarded in _____.

The law protecting the owners of a business organization from the managers who run it for them is _____.

Which of the following statements is true of tort law?

Legislation passed by the Congress is called a statute or an act.

The Role of Ethics in Decision Making

The Court System

Litigation

Alternative Dispute Resolution

The Constitution

The Property System

Contract Formation

Contractual Performance and Breach

Torts Affecting Business

Intellectual Property

International Law

Criminal Law and Business

Business Organizations

The Regulatory Process

Regulating Competitionantitrust Laws

Financial and Securities Regulations

Regulations Protecting Consumer Purchases, privacy, and Financial Activities

Environmental Regulation

Discrimination in Employment

Employment Laws

Labormanagement Relationship

Filters

Exam 1: Law As a Foundation for Business

Regulatory law forbids owners from monopolizing classes of resources and sets rules for how businesses can compete to acquire ownership in new resources.

List any two disadvantages of case law.

A property-based legal system ___________.

_____ can be thought of as the central concept underlying Western legal systems.

Disadvantages of case law do not destroy the benefits of certainty,predictability,and stability provided by case law and stare decisis.

Which of the following statements is true of substantive law?

The administrative agencies in the City of Dover have passed a written law banning smoking in most restaurants and bars.This legislation is an example of a(n)__________.

What information can be obtained from the citation of a case?

Briefly describe the two major legal systems: common law and civil law.

In constitutional law,the idea that courts should understand the meaning of the Constitution relative to the times in which they interpret it is known as _____.

What are exemplary damages?

Judges in civil law courts find themselves obligated to follow precedents.

Corporate governance rules protect the property interest that the owners have in corporations.

Punitive damages are frequently awarded in _____.

The law protecting the owners of a business organization from the managers who run it for them is _____.

Which of the following statements is true of tort law?

Legislation passed by the Congress is called a statute or an act.

The Role of Ethics in Decision Making

The Court System

Litigation

Alternative Dispute Resolution

The Constitution

The Property System

Contract Formation

Contractual Performance and Breach

Torts Affecting Business

Intellectual Property

International Law

Criminal Law and Business

Business Organizations

The Regulatory Process

Regulating Competitionantitrust Laws

Financial and Securities Regulations

Regulations Protecting Consumer Purchases, privacy, and Financial Activities

Environmental Regulation

Discrimination in Employment

Employment Laws

Labormanagement Relationship

Filters