Exam 1: Law As a Foundation for Business

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

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

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

Which of the following are judicial decisions that interpret the relevant constitutional, legislative, and regulatory laws?

The ideas and philosophies that explain the origin of law and its justification is called _____.

Friedrich Savigny, a prominent German legal philosopher, helped develop _____ jurisprudence, which emphasizes that contemporary law should focus on legal principles that have withstood the test of time in a nation.

What are acts, statutes and codes?

Differentiate between an intentional tort and negligence.

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

Burberry is a luxury brand that has its own distinctive trademark pattern. The company recently learned that another retailer has been selling fake Burberry bags. The legal dispute that will arise here is governed by _____ law.

Each of the following is a remedy in case of a breach of contract EXCEPT:

_____ property is an ownership fence which applies to resources like land that more than one individual owns jointly.

The United Kingdom, the United States, Canada, Jamaica, India, Nigeria, New Zealand, and a few other countries-all colonized by England-follow the common law.

The Fourteenth Amendment to the Constitution recognizes that the law is enforced by taking a person's life, freedom, or the resources that he or she owns.

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

Common property, applies to public resources owned by the government (or "state") like roads, public buildings, public lands, and monuments.

Contract law often but not always requires actual injury to the owner's resources.

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

_____ law both protects ownership and sets limits on private resource use.

Jurisprudence refers to the general body of law interpretations by judges as different from legislation passed by legislators.