Texas A&M University(TAMU )MGMT 209 Tests Bundle Set

Dispute Resolution and Regulation CORRECT ANSWER What are the two major roles of law in the business world? Regulatory Role CORRECT ANSWER In which role of the law is there government intervention involvement? The Constitution CORRECT ANSWER What is the supreme law of the land? Constitution...

You get angry at your roommate and decide to kill him/her. If you do, what type of law have you violated? CORRECT ANSWER Statutory, State, Criminal, and Public law is violated There are two major functions of the legal system. When you are sued in Court this is an example of what type of major fu...

Chapter 1 CORRECT ANSWER Introduction to Law and Sources of Law You get angry at your roommate and decide to kill him/her. If you do, what type of law have you violated? A) Statutory B) State C) Criminal D) Public E) All of the above CORRECT ANSWER E) All of the above There are two majo...

What are the purposes of tort law? CORRECT ANSWER - Appeasement - Justice - Deterrence - Social Insurance A tort's purpose it to make guilty party pay Appeasement CORRECT ANSWER the purpose of the law is to limit the negative impact of the infliction of injury to the event of the injury its...

Two major roles of law in the business world CORRECT ANSWER 1. Dispute Resolution Role 2. Regulation (Regulatory) Role Dispute Resolution role CORRECT ANSWER - Settles differences between two or more parties - Mainly covered in a Business Law class Regulation (Regulatory) role CORRECT ANSWER...

What is litigation? CORRECT ANSWER Disputes that arise due to the belief by one party that the other party has committed a wrong or violated some law that cannot be resolved through mutual agreement and compromise; it is a lawsuit that is filed What are the three types of judicial systems in whic...

Is contract law statutory or common law? CORRECT ANSWER Usually common law Can vary state by state, but is becoming more uniform Can be supplemented by State statutes Two functions of contracts CORRECT ANSWER Dictate Performance Allocate Risk Contract law definition CORRECT ANSWER System of...

NLRB v. Mackay Radio & Telegraph Co. CORRECT ANSWER This doctrine clearly establishes the legality of using permanent strike replacements in economic strikes NLRB v. Washington Aluminum Co. CORRECT ANSWER non-unionized workers walk off job and protest due to poor conditions = fired = firing is ru...

Contract CORRECT ANSWER A legal agreement of the parties to do something not obligated to do or to refrain from doing something legally entitled to do. ____ consist of a promise, but not all promises are ___. (promises-manifestation of intent to do or not do something) Standard CORRECT ANSWER...