Business law consists of the suggested rules of conduct that govern commercial relationships. True False
2.
No market transactions occur without legal guidelines. True False
3.
Law is rules of conduct in many organized societies that are enforced by the governing authority of the community. True False
4.
Because of the law, we rely on the goodwill and dependability of one another. True False
5.
Crimes are prosecuted by individuals. True False
6.
Public law involves disputes between private individuals or groups and their government. True False
7.
If a pet store dumps waste from its business behind its building, it is a violation of a private law. True False
8.
The U.S. Constitution is the foundation for all laws in the United States. True False
9.
The Executive Branch creates statutory laws. True False
10.
Case law is another name for common law. True False
11.
Judicial decisions are law unless they are revoked later by new statutory law. True False
12.
The term "stare decisis" means "reversing the decision." True False
13.
The purpose of stare decisis is to create greater predictability for businesses and individuals. True False
14.
Stare decisis is a legal principle that rulings made by higher courts are binding on lower courts in the same jurisdiction. True False
15.
A decision of a state appeals court is binding on the trial court located in the same state. True False
16.
A decision from the New Jersey Supreme Court is binding on the New York trial court, if New Jersey has no applicable law on the issue involved. True False
17.
Constitutions and statutes are complete in the sense of covering the detailed rules that affect government and business relations. True False
18.
Presidents claim the power to issue executive orders on the basis of Article II, Section 1, constitutional power to "take care that the laws be faithfully executed." True False
19.
The National Conference of Commissioners urges states to enact model laws to provide greater uniformity throughout the country. True False
20.
Laws comparing and studying the laws in different countries is known as comparative law. True False
Multiple Choice Questions
21.
What do business laws protect?
A.
All contracts
B.
Employment decisions
C.
Payments to suppliers
D.
Embezzlement
E.
All contracts, employment decisions, and payments to suppliers
22.
Cases involving federal criminal law are prosecuted by:
State officials
Private attorneys
The federal government
The National Conference of Commissioners
Congress
23.
Local legislative laws are called:
Codes
Ordinances
Model laws
Executive orders
Uniform laws
24.
A treaty is a binding agreement between:
States
International organizations
Local governments
States and international organizations
States, international organizations, and local governments
25.
To be binding, a treaty must be approved by:
The Supreme Court
The Senate
The U.S. Constitution
Voters
26.
Penny is investigating what she needs to do to legally to open a dog grooming business in her city. Which of the following would govern the business?
State statutes
City ordinances
State statutes, city ordinances, and model laws
State statutes and city ordinances, but not model laws
27.
Which of the following is not a purpose of the law as set forth in the text?
Encouraging taxation
Serving as an alternative to fighting
Encouraging social justice
Guaranteeing personal freedoms
Providing order such that one can depend on a promise or an expectation of obligations
28.
Which of the following most accurately sets forth ways into which law may be divided and classified?
National versus international.
Federal versus state.
Public versus private.
National versus international, and federal versus state, but not public versus private.
National versus international, federal versus state, and public versus private.
29.
Which of the following involves disputes between private individuals or groups?
Public law
Private law
Governmental law
Public law and private law, but not governmental law
Public law, private law, and governmental law
30.
Which of the following involves disputes between private individuals or groups and their government?
31.
Which of the following involves remedies available to an individual when his or her rights are violated?
Civil law
Resolution law
Procedural law
Civil law and procedural law, but not criminal law
Civil law, criminal law, and procedural law
32.
If someone commits an act against the public, they will be violating what type of law?
Criminal law
33.
In which forum is the violation of public laws addressed?
State legislatures
Federal Congress
Community consensus
Courts
All of these
34.
A majority of citizens in a democracy can agree to permit certain authorities to make and enforce rules describing what behavior is permitted and encouraged in their community. These rules are what we refer to as the ______.
electoral college
community standard
democratic validation
stare decisis
law
35.
Assume a businessperson who owns a computer equipment store is delinquent in paying rent to the landlord. The resulting dispute entails ______ law.
public
preferential
consensual
private
black letter
36.
If a computer store dumps waste behind its building in violation of local, state, or federal environmental regulations, the resulting dispute focuses on ______ law.
37.
Which type of law involves the rights and responsibilities involved in relationships between persons, and between persons and their government?
Criminal
Procedural
Civil
Natural
Positive
38.
Crimes committed under criminal laws are prosecuted by which of the following?
Only injured individuals
Any interested person whether injured or not
State government only
The federal government only
The state or federal government
39.
Assume a restaurant chain is forced to pay damages to a person who suffered food poisoning after eating at the restaurant. What type of law is involved?
Public law only
Private law only
Civil law only
Public, private, and civil law
Private law and civil law
40.
Assume the Securities and Exchange Commission prosecutes someone for insider trading. That prosecution is an example of ______ law.
criminal
procedural
civil
natural
positive
41.
The ______ is the supreme law of the land.
U.S. Constitution
Declaration of Independence
United States Code
model law
Uniform Code
42.
The United States Constitution and ________ establish the fundamental principles and rules by which the United States and the several states are governed.
the administrative rules
the procedural rules
the constitution of each state
the bylaws of each state
both the procedural rules and the bylaws of each state
43.
The laws created by the legislative branch are referred to as:
Administrative Codes
Statutes
Uniform Rules
Executive Orders
Secondary Laws
44.
Legislative acts passed by state legislatures can be found in ______.
the United States Code
state codes
the Uniform Register
the State Reporter
the State Reference Manual
45.
Legislative acts passed by the U.S. Congress can be found in ______.
46.
Which of the following is a term used to refer to laws that are contained in one convenient location?
Area laws
Classifications
Filings
Reports
47.
What are local legislative laws called?
48.
The group that urges states to enact model laws to provide greater uniformity of law is called the ______.
Model Law on Uniform State Laws Organization
Federal Uniform Law Commission
National Conference of Commissioners on Uniform State Laws
Model and Uniform Law Consortium
Uniform Statutory Enforcement Commission
49.
When the organization in charge of proposing uniform laws proposes a statute, which of the following is true?
All states must adopt the uniform statute within one year.
All states must adopt the uniform statute within six months.
The uniform statute automatically goes into effect without any action by state legislatures.
A state legislature is not required to adopt the uniform statute; but if the state legislature decides to go forward with adoption, all portions of the statute must be adopted.
A state legislature can ignore the proposed uniform law, adopt it in full, or adopt it in part.
50.
Case law can be revoked by ______.
new statutes
precedent
standard law
None of these, because case law cannot be revoked.
51.
The term ______ involves the use of past decisions to guide future decisions.
commonality
restatement
uniformity
modeling
52.
The ______ is a significant body of law to business activities including sales, banking, and warranty.
Federal Business Code
Model Business Code
Uniform Transactional Model
Uniform Commercial Code
Marketing Transaction Code
53.
When courts rely on precedent, they are obeying ______.
common analysis
res judicata
in rem process
federal law
54.
Which of the following cases is referenced in the text as a use of stare decisis as binding precedent, in that it abolished discriminatory policies for individuals of different racial backgrounds?
Curtis v. School Board
Laughlin v. Glover
Grover v. BreeBee
Brown v. Board of Education
Story v. Price
55.
In which of the following cases did the U.S. Supreme Court rely on precedent to strike down a school's admissions policy that reserved slots for members of minority races?
University of California v. Bakke
Grover v. University of Mississippi
Adkins v. Price
56.
Which of the following are summaries of common law rules in a particular area of the law that have been enacted by most states?
Restatements of the Law
Codifications of the Law
Reporters
Reports of the Law
Codes of Reporters
57.
What cases are bound by a decision of a state appeals court?
The decision being appealed from and future cases in the state, but not past cases.
The decision being appealed from, future cases in the state, and past cases that must be reopened.
Only the decision being appealed from.
Only future cases.
The decision being appealed from and future cases in the state and in surrounding states, but not past cases.
58.
Which of the following is true regarding administrative agencies?
There are state administrative agencies, but no federal administrative agencies.
There are federal administrative agencies, but no state administrative agencies.
There are state and federal administrative agencies, but no local administrative agencies.
Administrative agencies exist only at the local county level.
Administrative agencies exist at the federal, state, and local level.
59.
Which of the following prepares Restatements?
The federal Congress
Local governing bodies
The Uniform Restatement Association
The American Law Institute
60.
Which of the following is true regarding treaties at the federal level?
A treaty is generally negotiated by the executive branch and must then be approved by two-thirds of the Senate.
A treaty is generally negotiated by the executive branch and must then be approved by two-thirds of the House of Representatives.
A treaty is generally negotiated by the executive branch and must then be approved by two-thirds of the Senate and also by two-thirds of the House of Representatives.
A treaty is generally negotiated by the executive branch and no approval by the Senate or House of Representatives is needed.
A treaty is generally negotiated by the executive branch and must then be approved by two-thirds of the Senate and also by two-thirds of the state legislatures.
61.
The concept of ______ suggests that individuals should have the freedom to disobey a law enacted by people if their conscience goes against the law and they believe the law is wrong.
legal positivism
natural law
legal-realism
conscience reaction
None of these
62.
Assume a judge writes that she is deciding to enforce a law in question but that her decision does not mean that she sees the law as the morally correct rule. The judge would have leanings in the direction of ______.
63.
In which school of jurisprudence is the concept of stare decisis rooted?
The Historical school
Legal-realism
The cost-benefit analysis school
Positivism
Cultural reenactment
64.
Laws that help establish the conditions of trade between countries are:
The Uniform Commercial Code and The U.S. Constitution
Executive Orders and Administrative Codes
The North American Free Trade Agreement and The Bill of Rights
The North American Free Trade Agreement and The General Agreement on Tariffs and Trade
The General Agreement on Tariffs and Trade and The Uniform Commercial Code
65.
Comparative law:
Compares and studies the laws in different countries.
Compares and studies state constitutions.
Compares and studies Executive Orders.
Compares and studies laws of federal administrative agencies.
Compares and studies laws of the European Union.
66.
Candy wants to start an Internet business. The Chinese government tells her that certain items on her site are objectionable and illegal, and that if she wants to do business in China, she must remove the objectionable material. Which of the following is true?
Candy is within her rights and should stand her ground. She is a U.S. citizen, and so long as she obeys U.S. laws, she can do business in China.
Candy is within her rights only if she petitioned her state senator and obtained his or her permission to proceed.
If Candy wants to do business in China, she must abide by Chinese law.
By international law, there is a set fee of $10,000 that Candy can pay if she wants to obey only U.S. law. If she pays that amount, she can continue in China without any modification.
By international law, there is a set fee of $5,000 that Candy can pay if she wants to obey only U.S. law. If she pays that amount, she can continue in China without any modification.
67.
The Stolen Book. Betty tells Susan that Bob stole her business law book from her car. The next day Susan confronts Bob and slaps him for stealing her book. Bob has Susan arrested for slapping him. Susan sues Bob for damages in the amount of the book and for maliciously having her arrested. Claiming that she lied, Bob sues Betty for defamation. The lawsuit Susan has against Bob for damages for stealing her book involves which of the following?
Administrative law
Both public and private law
Comprehensive law
68.
The Stolen Book. Betty tells Susan that Bob stole her business law book from her car. The next day Susan confronts Bob and slaps him for stealing her book. Bob has Susan arrested for slapping him. Susan sues Bob for damages in the amount of the book and for maliciously having her arrested. Claiming that she lied, Bob sues Betty for defamation. The prosecution by the government against Susan for slapping Bob involves which of the following?
69.
The Stolen Book. Betty tells Susan that Bob stole her business law book from her car. The next day Susan confronts Bob and slaps him for stealing her book. Bob has Susan arrested for slapping him. Susan sues Bob for damages in the amount of the book and for maliciously having her arrested. Claiming that she lied, Bob sues Betty for defamation. The action Bob has against Betty for defamation involves which of the following?
Insider law
Both criminal and civil law
70.
The Stolen Book. Betty tells Susan that Bob stole her business law book from her car. The next day Susan confronts Bob and slaps him for stealing her book. Bob has Susan arrested for slapping him. Susan sues Bob for damages in the amount of the book and for maliciously having her arrested. Claiming that she lied, Bob sues Betty for defamation. Bob is anxious to see Susan punished for slapping him. Which of the following is true regarding action Bob can take?
Bob can hire his own lawyer to prosecute Susan and send her to jail but cannot bring a civil action if he prosecutes criminally.
Bob's privately-retained lawyer may not prosecute Susan alone but may insist on jointly trying the criminal case with the government lawyer.
Bob can bring an additional civil action against Susan for slapping him only if he loses the criminal case.
Bob can hire his own lawyer to prosecute Susan and send her to jail, and Bob can also bring an additional civil action against Susan for slapping him.
Bob's privately-retained lawyer may not prosecute Susan because that is the government's job, but the privately-retained lawyer can bring a civil action against Susan.
71.
To the Dogs. Alice loves all animals and is starting a new grooming business for dogs. She believes that animals are very important and plans to exceed any applicable regulations regarding cleanliness and health standards. Alice thinks some local regulations make no sense. For example, there is a local ordinance that all dogs must be kept on a leash at all times when not in a fenced area. Although Alice lives on a large lot with plenty of room for dogs to run free, she plans to obey the leash regulation and all others. She is aware, however, that members of the community have had success in changing local regulations by petitioning the city council. Alice plans to proceed in that manner to attempt a change in the leash law. Alice's idea that dogs have basic rights, and her plan to exceed laws involving cleanliness and health standards is rooted in which of the following?
Legal positivism
The historical school
Legal realism
Natural law
Cost-benefit analysis
72.
To the Dogs. Alice loves all animals and is starting a new grooming business for dogs. She believes that animals are very important and plans to exceed any applicable regulations regarding cleanliness and health standards. Alice thinks some local regulations make no sense. For example, there is a local ordinance that all dogs must be kept on a leash at all times when not in a fenced area. Although Alice lives on a large lot with plenty of room for dogs to run free, she plans to obey the leash regulation and all others. She is aware, however, that members of the community have had success in changing local regulations by petitioning the city council. Alice plans to proceed in that manner to attempt a change in the leash law. Alice's plan to obey all laws and regulations even if she does not agree with them is rooted in which of the following?
73.
To the Dogs. Alice loves all animals and is starting a new grooming business for dogs. She believes that animals are very important and plans to exceed any applicable regulations regarding cleanliness and health standards. Alice thinks some local regulations make no sense. For example, there is a local ordinance that all dogs must be kept on a leash at all times when not in a fenced area. Although Alice lives on a large lot with plenty of room for dogs to run free, she plans to obey the leash regulation and all others. She is aware, however, that members of the community have had success in changing local regulations by petitioning the city council. Alice plans to proceed in that manner to attempt a change in the leash law. Alice's plan to seek change through following what others have done in the past by petitioning city council is rooted in which of the following?
74.
International Expansion. Zach wants to expand his coffee business internationally - into Zeno, a small remote country in Africa. His best friend Zora asks him if he plans to hire legal counsel for the expansion. Zach replies, "Of course not. The U.S. has the strictest laws regarding contracts, employment, and business practices. So long as I'm legal here, I'm legal anywhere. Besides, I studied up on Zeno law ten years ago, and I know it all." Zach proceeds and lands in jail in the remote country of Zeno for violating recently passed laws protecting employees and mandating certain benefits. Authorities there claim that he sexually harassed an employee, failed to pay sufficient wages, and failed to give employees Zeno's mandated 12 weeks of vacation per year.The type of law involved in comparing laws between the U.S. and Zeno is ______.
comparative law
contributory law
comprehensive law
complete law
delineated law
75.
International Expansion. Zach wants to expand his coffee business internationally - into Zeno, a small remote country in Africa. His best friend Zora asks him if he plans to hire legal counsel for the expansion. Zach replies, "Of course not. The U.S. has the strictest laws regarding contracts, employment, and business practices. So long as I'm legal here, I'm legal anywhere. Besides, I studied up on Zeno law ten years ago, and I know it all." Zach proceeds and lands in jail in the remote country of Zeno for violating recently passed laws protecting employees and mandating certain benefits. Authorities there claim that he sexually harassed an employee, failed to pay sufficient wages, and failed to give employees Zeno's mandated 12 weeks of vacation per year.Which of the following is true regarding Zach's legal problems in Zeno?
Zach can rely upon the federal statutory laws of the U.S. as a defense but not his U.S. Constitutional rights.
Zach is entitled to all U.S. Constitutional rights in Zeno because he is a U.S. citizen, but he cannot rely on U.S. statutory rights.
Zach can rely upon the federal statutory laws of the U.S. as a defense, and he is also entitled to all U.S. Constitutional rights in Zeno because he is a U.S. citizen.
Zach must obey the laws of Zeno when operating a business in Zeno and cannot rely upon U.S. laws as a defense.
Zach is subject to civil laws but not criminal laws of Zeno.
76.
International Expansion. Zach wants to expand his coffee business internationally - into Zeno, a small remote country in Africa. His best friend Zora asks him if he plans to hire legal counsel for the expansion. Zach replies, "Of course not. The U.S. has the strictest laws regarding contracts, employment, and business practices. So long as I'm legal here, I'm legal anywhere. Besides, I studied up on Zeno law ten years ago, and I know it all." Zach proceeds and lands in jail in the remote country of Zeno for violating recently passed laws protecting employees and mandating certain benefits. Authorities there claim that he sexually harassed an employee, failed to pay sufficient wages, and failed to give employees Zeno's mandated 12 weeks of vacation per year.Which of the following is true regarding Zach's defense that he thought he knew the law of Zeno because he had studied it some years before and that the laws under which he was arrested were new?
Rules in international business change frequently, and Zach had a duty to stay current. It is not a defense that he studied the law at one time and that the laws at issue were new.
Zach is entitled to rely as a defense on the fact that he had studied the law at one time. Officials in Zeno were charged with publicizing any changes.
If Zach can prove that the laws at issue were passed within the last twelve months before he was arrested, he will get out of jail because under international law, there is a twelve month grace period for foreigners.
If Zach can prove that the laws at issue were passed within the last six months before he was arrested, he will get out of jail because under international law, there is a six month grace period for foreigners.
Zach cannot be prosecuted so long as he was not aware he was violating the law. He did not have the requisite intent to perform a criminal act regardless of whether the laws were new.
77.
Inattentive Driving. While cutting class and driving off campus to check on her new dress for the upcoming formal, Molly, a busy college student, is busy talking on her cell phone with her friend Sharon in an attempt to talk Sharon into going to the dance with Molly's brother, who has a big crush on Sharon. Unfortunately for Molly, there is a statute in her state outlawing talking on a cell phone while operating a motor vehicle. Molly crashes into the side of Sam's new convertible when she looks down to pick up a can of soda she just dropped onto her new jeans. A police officer just down the street comes over to investigate. Molly explains to him that it was difficult to hold the cell phone in one hand, the soda in the other, and also drive. The officer was not impressed. Around that time Sam comes along. He is furious regarding the significant dent in his new car. Molly says she has insurance and that she will cover the whole incident. Sam says that is insufficient. The officer is annoyed because it is his lunch break. He tells Molly that she must obey the law, and proceeds to write several citations to her. Which type or types of law is involved in the above situation considering Molly's interaction with both the officer and Sam?
Civil law and private law only
Criminal law and public law only
Public law, private law, civil law, and criminal law
78.
Inattentive Driving. While cutting class and driving off campus to check on her new dress for the upcoming formal, Molly, a busy college student, is busy talking on her cell phone with her friend Sharon in an attempt to talk Sharon into going to the dance with Molly's brother, who has a big crush on Sharon. Unfortunately for Molly, there is a statute in her state outlawing talking on a cell phone while operating a motor vehicle. Molly crashes into the side of Sam's new convertible when she looks down to pick up a can of soda she just dropped onto her new jeans. A police officer just down the street comes over to investigate. Molly explains to him that it was difficult to hold the cell phone in one hand, the soda in the other, and also drive. The officer was not impressed. Around that time Sam comes along. He is furious regarding the significant dent in his new car. Molly says she has insurance and that she will cover the whole incident. Sam says that is insufficient. The officer is annoyed because it is his lunch break. He tells Molly that she must obey the law, and proceeds to write several citations to her. Which of the following is true regarding Molly's predicament?
Molly can be given a ticket and prosecuted criminally by government officials, but she may not be sued for a civil violation.
Molly can be sued for a civil action and must pay for Sam's car, but she cannot be prosecuted for a criminal violation.
Molly can be sued in a civil action by Sam, and the government for a criminal violation can also prosecute her.
So long as Molly has insurance and can pay for Sam's vehicle damage, she cannot be prosecuted in a civil or criminal action.
Sam can prosecute Molly in a criminal action, but he cannot sue her in a civil action.
79.
Inattentive Driving. While cutting class and driving off campus to check on her new dress for the upcoming formal, Molly, a busy college student, is busy talking on her cell phone with her friend Sharon in an attempt to talk Sharon into going to the dance with Molly's brother, who has a big crush on Sharon. Unfortunately for Molly, there is a statute in her state outlawing talking on a cell phone while operating a motor vehicle. Molly crashes into the side of Sam's new convertible when she looks down to pick up a can of soda she just dropped onto her new jeans. A police officer just down the street comes over to investigate. Molly explains to him that it was difficult to hold the cell phone in one hand, the soda in the other, and also drive. The officer was not impressed. Around that time Sam comes along. He is furious regarding the significant dent in his new car. Molly says she has insurance and that she will cover the whole incident. Sam says that is insufficient. The officer is annoyed because it is his lunch break. He tells Molly that she must obey the law, and proceeds to write several citations to her. The law in Molly's state regulating cell phone usage would be classified as which of the following?
A statute
A type of common law
An executive order
A uniform law
A negative law
80.
Inattentive Driving. While cutting class and driving off campus to check on her new dress for the upcoming formal, Molly, a busy college student, is busy talking on her cell phone with her friend Sharon in an attempt to talk Sharon into going to the dance with Molly's brother, who has a big crush on Sharon. Unfortunately for Molly, there is a statute in her state outlawing talking on a cell phone while operating a motor vehicle. Molly crashes into the side of Sam's new convertible when she looks down to pick up a can of soda she just dropped onto her new jeans. A police officer just down the street comes over to investigate. Molly explains to him that it was difficult to hold the cell phone in one hand, the soda in the other, and also drive. The officer was not impressed. Around that time Sam comes along. He is furious regarding the significant dent in his new car. Molly says she has insurance and that she will cover the whole incident. Sam says that is insufficient. The officer is annoyed because it is his lunch break. He tells Molly that she must obey the law, and proceeds to write several citations to her. The officer's reference to the need for Molly to obey duly authorized law is a reference to which of the following?
The historical school of law
Stare decisis
Essay Questions
81.
List the purposes of the law and discuss why these purposes are necessary for an ordered society.
82.
Define the meaning of the term "stare decisis," discuss when it occurs in the legal system, and why this is needed in business.
83.
Explain in what ways a treaty between a foreign country and the U.S. is similar to a contract.
84.
Explain the function of administrative agencies and why they are needed. List five independent agencies and five executive agencies.
85.
Judge Susie Justice, who is newly appointed to the bench, is presented with a question of law involving a cat named Chester who scratched a neighbor's antique jalopy. The neighbor, George, demands justice in the form of full payment from Chester's owner, Bill, and also requests that Chester be shipped to the local animal shelter. Bill says that he should not have to pay anything because Chester had never scratched before, that Chester should be allowed to stay in the neighborhood, and that he should be reimbursed for his legal fees by George who is a grump and never should have brought the lawsuit. Judge Justice is perplexed and wants to make a good decision since she is new to the bench. Describe how the judge should go about reaching a decision. Discuss in your answer the impact of cases from other jurisdictions assuming there is no relevant law in Judge Justice's jurisdiction. Also, assuming there is relevant law in this jurisdiction, discuss the applicable legal standard the judge should apply if she finds a relevant statute that conflicts with earlier case law.
86.
Describe contrasts between the cost-benefit school of jurisprudence and the natural law theory of jurisprudence.
Chapter 01 An Introduction to the Fundamentals of Dynamic Business Law Answer Key
True / False Questions
1.
Business law consists of the suggested rules of conduct that govern commercial relationships. FALSE
Business law consists of the enforceable rules of conduct that govern commercial relationships.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-01 What is business law?Topic: Introduction
No market transactions occur without legal guidelines. TRUE
There is simply no market transaction that occurs outside legal guidelines.
Law is rules of conduct in many organized societies that are enforced by the governing authority of the community. FALSE
Law is rules of conduct in any organized society that are enforced by the governing authority of the community.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-03 What are the purposes of law?Topic: Law and Its Purposes
Because of the law, we rely on the goodwill and dependability of one another. FALSE
The respect we give to the law as a source of authority is in part a recognition of the fact that in the absence of law, we would rely solely on the goodwill and dependability of one another.
AACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-03 What are the purposes of law?Topic: Law and Its Purposes
Crimes are prosecuted by individuals. FALSE
Crimes are prosecuted not by individuals but by the state or federal government.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-04 What are alternative ways to classify the law?Topic: Classification of the Law
Public law involves disputes between private individuals or groups and their government. TRUE
Public law involves disputes between private individuals or groups and their government.
If a pet store dumps waste from its business behind its building, it is a violation of a private law. FALSE
If a business violates a law, the resulting dispute focuses on public law.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: ApplyDifficulty: 3 HardLearning Objective: 01-04 What are alternative ways to classify the law?Topic: Classification of the Law
The U.S. Constitution is the foundation for all laws in the United States. TRUE
The U.S. Constitution is the foundation for all laws in the United States.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-05 What are the sources of the law?Topic: Sources of Business Law
The Executive Branch creates statutory laws. FALSE
The Legislative Branch creates statutory laws.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-05 What are the sources of the law?Topic: Sources of Business Law
Case law is another name for common law. TRUE
An alternative name for case law is common law.
Judicial decisions are law unless they are revoked later by new statutory law. TRUE
Judicial decisions are law unless new statutory law revokes them later.
The term "stare decisis" means "reversing the decision." FALSE
When courts rely on precedent, they are obeying stare decisis ("standing by their decision").
The purpose of stare decisis is to create greater predictability for businesses and individuals. TRUE
The purpose of stare decisis is to create greater predictability for businesses and individuals.
Stare decisis is a legal principle that rulings made by higher courts are binding on lower courts in the same jurisdiction. TRUE
Stare decisis is a legal principle that rulings made by higher courts are binding on lower courts in the same jurisdiction.
A decision of a state appeals court is binding on the trial court located in the same state. TRUE
If an issue is brought before a state court, the court will ascertain whether the state appeals court has made a decision on a similar issue, which would have then set a binding precedent that the lower court would need to follow.
A decision from the New Jersey Supreme Court is binding on the New York trial court, if New Jersey has no applicable law on the issue involved. FALSE
Different state courts are not bound by each other's decision, and so they might have different decisions on the same subject.
Constitutions and statutes are complete in the sense of covering the detailed rules that affect government and business relations. FALSE
Constitutions and statutes are never complete in the sense of covering all the detailed rules that affect government and business relations.
Presidents claim the power to issue executive orders on the basis of Article II, Section 1, constitutional power to "take care that the laws be faithfully executed." TRUE
Presidents claim the power to issue executive orders on the basis of their Article II, Section 1, constitutional power to "take care that the laws be faithfully executed."
The National Conference of Commissioners urges states to enact model laws to provide greater uniformity throughout the country. TRUE
The National Conference of Commissioners urges states to enact model laws to provide greater uniformity throughout the country.
Laws comparing and studying the laws in different countries is known as comparative law. TRUE
Laws comparing and studying the laws in different countries is known as comparative law.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Global and Comparative Law
Business laws protect all contracts, employment decisions, and payments to suppliers.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-01 What is business law?Topic: Law and Its Purposes
The federal government prosecutes Cases involving federal criminal law.
AACSB: Knowledge ApplicationAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-04 What are alternative ways to classify the law?Topic: Classification of the Law
Local legislative laws are called ordinances.
A treaty is binding between states and international organizations.
A treaty must be approved by two-thirds of the Senate to be binding.
Legislative actions, called statutes, are an important source of laws: and business managers must also be familiar with local city and county ordinances governing matters not covered by federal or state codes.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: ApplyDifficulty: 3 HardLearning Objective: 01-05 What are the sources of the law?Topic: Sources of Business Law
Purposes of law include the following: Providing order such that one can depend on a promise or an expectation of obligations; serving as an alternative to fighting; facilitating a sense that change is possible, but only after a rational consideration of options; encouraging social justice; guaranteeing personal freedoms; and serving as a moral guide by indicating minimal expectations of citizens and organizations.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-03 What are the purposes of law?Topic: Law and Its Purposes
Law can be divided into national versus international law, federal versus state law, and public versus private law.
AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-04 What are alternative ways to classify the law?Topic: Classification of the Law
Private law involves disputes between private individuals or groups.
Civil law involves the remedies available when someone's rights are violated.
Criminal law applies to situations in which someone commits an act against the public as a unit.
AACSB: Knowledge ApplicationAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-04 What are alternative ways to classify the law?Topic: Classification of the Law
Law is enforceable in the courts of the community.
A majority of citizens in a democracy can agree to establish rules for business behavior permitting certain authorities to make and enforce rules describing what behavior is permitted and encouraged in their community, and these rules are what we refer to as the law.
AACSB: Knowledge ApplicationAccessibility: Keyboard NavigationBlooms: ApplyDifficulty: 3 HardLearning Objective: 01-04 What are alternative ways to classify the law?Topic: Classification of the Law
Civil law involves the rights and responsibilities found in relationships between persons and between persons and their government.
Private law involves disputes between private individuals or groups, and civil law involves the rights and responsibilities found in relationships between persons and between persons and their government.
One example of a criminal law is the prohibition against insider trading on the stock exchange.
The U.S. Constitution is the supreme law of the land, the foundation for all laws in the United States.
The United States Constitution and the constitution of each state establish the fundamental principles and rules by which the United States and the individual states are governed.
The assortment of rules and regulations put forth by legislatures is what we call statutory law.
Legislative acts can be found in the various state codes when they are enacted by state legislatures.
Legislative acts can be found in the United States Code when Congress passes them.
The codes are a collection of all the laws in one convenient location.
Local city and county ordinances govern matters not covered by federal or state codes.
The proposals of the National Conference of Commissioners on Uniform State Laws (NCC), while not laws themselves, have been adopted on more than 200 occasions by state legislatures. The NCC urges states to enact model laws to provide greater uniformity of law.
State legislators can ignore a suggestion or adopt part or all of a proposed model law.
Case law is law unless revoked later by new statutory law.
AACSB: Knowledge ApplicationAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-05 What are the sources of the law?Topic: Sources of Business Law
Precedent is the use of past decisions to guide future decisions.
The Uniform Commercial Code laws include sales laws and other regulations affecting commerce, such as bank deposits and collections, title documents, and warranties.
One example of a case that has been used in accordance with stare decisis, as a binding precedent is Brown v. Board of Education, which abolished discriminatory policies for individuals of different racial backgrounds.
In University of California v. Bakke, the U.S. Supreme Court found that the school's admissions policy was not legal, referencing Brown v. Board of Education and stating that the basic principle behind it and similar cases was that individuals could not be excluded on the basis of race or ethnicity.
Restatements are summaries of the common law rules in a particular area of the law that have been enacted by most states.
AACSB: Knowledge ApplicationAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-05 What are the sources of the law?Topic: Sources of Business Law
A state supreme court's decision affects only the decision being appealed and any future cases brought in the state on that particular subject.
The federal government, as well as state and local governments, has dozens of administrative agencies, whose task is to perform a particular government function.
The American Law Institute prepares Restatements for contracts, agency, property, torts, and many other areas of law that affect business decisions.
To be binding, a treaty must be approved by two-thirds of the Senate.
The concept of natural law suggests that individuals should have the freedom to disobey a law enacted by majorities of people if their individual conscience goes against the law and they believe the law is wrong.
AACSB: EthicsAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Sources of Business Law
A judge with leanings in the direction of legal positivism, for example, might write that she is deciding to enforce the law in question but that her decision does not necessarily mean that she sees the law as the morally correct rule.
AACSB: EthicsAccessibility: Keyboard NavigationBlooms: EvaluateDifficulty: 3 HardLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Sources of Business Law
Stare decisis is rooted in the perspective of the historical school.
The North American Free Trade Agreement and The General Agreement on Tariffs and Trade help establish the conditions of trade between countries.
AACSB: Knowledge ApplicationAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Global and Comparative Law
Comparative law compares and studies laws in different countries.
Business managers need to be aware of various trade laws and restrictions in different countries so that they can act accordingly when they set out to do business in those countries.
AACSB: DiversityAccessibility: Keyboard NavigationBlooms: EvaluateDifficulty: 3 HardLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Global and Comparative Law
AACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: ApplyDifficulty: 3 HardLearning Objective: 01-04 What are alternative ways to classify the law?Topic: Classification of the Law
Civil law involves the rights and responsibilities found in relationships between persons and between persons and their government as well as the remedies available when someone's rights are violated.
Civil law involves the remedies available when someone's rights are violated whereas criminal law applies to situations in which someone commits an act against the public as a unit. Crimes are prosecuted not by individuals but by the state or federal government.
AACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: EvaluateDifficulty: 3 HardLearning Objective: 01-04 What are alternative ways to classify the law?Topic: Classification of the Law
The term natural law refers to the idea that there are certain ethical laws and principles that are morally right and "above" the laws devised by humans.
AACSB: EthicsAACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: ApplyDifficulty: 3 HardLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Sources of Business Law
Legal positivism sees law as something quite distinct from morality and holds that moral questions about the law should not interfere with our inclination to obey it.
AACSB: EthicsAACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: AnalyzeDifficulty: 3 HardLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Sources of Business Law
When we follow historical school tradition, we attempt to link our future behavior to the behavior of those who faced similar problems in earlier historical periods.
It is important that future business managers understand comparative law, comparing and studying the laws in different countries.
AACSB: DiversityAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Global and Comparative Law
Globalization requires that business leaders be alert to legal differences among national jurisdictions.
AACSB: DiversityAccessibility: Keyboard NavigationBlooms: ApplyDifficulty: 3 HardLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Global and Comparative Law
Private law involves disputes between private individuals or groups; public law involves disputes between private individuals or groups and their government; civil law involves the rights and responsibilities found in relationships between persons and between persons and their government; and criminal law applies to situations in which someone commits an act against the public as a unit.
Civil law involves the rights and responsibilities found in relationships between persons and between persons and their government, and criminal law applies to situations in which someone commits an act against the public as a unit.
The assortment of statutes, or rules and regulations put forth by legislatures, is what we call statutory law.
The concept of legal positivism sees our proper role as obedience to duly authorized law.
Purposes of the law should be listed as follows:• Providing order such that one can depend on a promise or an expectation of obligations.• Serving as an alternative to fighting.• Facilitating a sense that change is possible, but only after a rational consideration of options.• Encouraging social justice.• Guaranteeing personal freedoms.• Serving as a moral guide by indicating minimal expectations of citizens and organizations.Students will vary on discussion of why the law is necessary for an ordered society. Ideas would include enforcement of contracts, protection of underprivileged members of society, and the provision of a remedy for injustice.
AACSB: Reflective ThinkingBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-03 What are the purposes of law?Topic: Law and Its Purposes
The term "stare decisis," means standing by a decision. It occurs when courts rely on precedent. The adherence to stare decisis creates greater predictability for both businesses and individuals who look to the courts for the rules on which they should rely when they engage in market exchanges.
AACSB: Reflective ThinkingBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-05 What are the sources of the law?Topic: Sources of Business Law
Both treaties and contracts are attempts by parties to determine rights and obligations among themselves. Additionally, when a party fails to obey a treaty or contract, international law imposes liability on the part who failed to obey the agreement.
Constitutions and statutes are not complete in the sense of covering all the detailed rules that affect government and business relations. The task of administrative agencies is to perform particular governmental functions. For independent and executive agencies, students may choose from agencies listed in the text.
Students should reference the need for Judge Susie Justice to check for relevant case law and statutory law. Cases from other jurisdictions may be influential to the judge but are not binding. A later passed state statute would apply as opposed to conflicting case law.
AACSB: Reflective ThinkingBlooms: ApplyDifficulty: 3 HardLearning Objective: 01-05 What are the sources of the law?Topic: Sources of Business Law
The cost-benefit school of jurisprudence is an economic school of jurisprudence in which all costs and benefits of a law are given monetary values. Those laws with the highest ratios of benefits to costs are then preferable to those with lower ratios. From the cost-benefit perspective, one would examine all the costs and benefits for alternative laws or decisions and place monetary values on those costs and benefits. With those calculations, a cost-benefit analysis may serve as a guide to legal change with the most attractive choice being the one that maximizes the ration of benefits to costs. The natural law theory of jurisprudence holds that there are certain ethical laws and principles that are morally right and "above" the laws devised by humans. This concept suggests that individuals should have the freedom to disobey a law enacted by majorities of people if their individual conscience goes against the law and they believe the law is wrong. The idea that people have basic human rights, for example, is rooted in the concept of natural law.
AACSB: EthicsBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-06 What are the various schools of jurisprudence?Topic: Sources of Business Law
This product has run out of stock. You may send us an inquiry about it.
This product is currently unavailable. You may send us an inquiry about it.
