Exam 1: Law As a Foundation for Business

Compare natural law and positive law in jurisprudence.

Give three explanations for why national economies are weak or strong.

The Second Amendment to the Constitution holds that "No State shall . . . deprive any person of life, liberty or property without due process of law."

Stephanie has written a book, "Mirari" and was talking to some interested parties from Hollywood about making a movie based on it. However, she turned down the offer due to differences of opinion. A year later, Mirari was made into a movie but it did not acknowledge the author. Such situations come under _____ law.

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

What is civil and criminal law?

Illustrate the concept of substantive and procedural law with examples.

Define stare decisis.

The right of an individual to take another person's resources (especially money) because that person has failed to meet the requirements of the law (e.g., the breach of a contract) is known as a(n) _____.

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

In addition to compensatory damages, breach-of-contract cases may award punitive damages, when the breaching party knew or had reason to know that special circumstances existed that would cause the other party to suffer additional losses if the contract were breached.

The secret to economic prosperity and the wealth of nations lies in the foundation of property law and the legal system to implement it under the rule of law.

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

Following much debate the Congress has decided to pass a bill that will increase the taxes on tobacco. This legislation is called a:

How does corporate governance break down due to the illegal actions of managers?

Louisiana is the only state in the U.S. that follows a partial civil law system due to Louisiana's historical ties with France, a civil law nation.

_____ law jurisprudence believes that law is simply the commands of the state backed up by force and punishments.

The City of Dover has passed a written law banning smoking in most restaurants and bars. Dover has enacted a/an:

Civil law arose in the eleventh and twelfth centuries as the English monarch appointed royal judges to ride circuits around the English countryside and to resolve disputes in the name of the king (or queen).

Which of the following is not a typical area of concern in property law?