Business Law Exam 1 (ch. 1-4)question with complete solution 2023

Business Law Exam 1 (ch. 1-4)question with complete solution 2023administrative agency - correct answer a federal, state, or local government agency established to perform a specific function; administrative agencies are authorized by legislative acts to make and enforce rules to administer and enforce the acts. administrative law - correct answer the body of law created by administrative agencies (in the form of rules, regulations, orders, and decisions) in order to carry out their duties and responsibilities. allege - correct answer to state, recite, assert, or charge. analogy - correct answer in logical reasoning, an assumption that if two things are similar in some respects, they will be similar in other respects also; often used in legal reasoning to infer the appropriate application of legal principles in a case being decided by referring to previous cases involving different facts but considered to come within the policy underlying the rule. appellant - correct answer the party who takes an appeal from one court to another. appellee - correct answer the party against whom the appeal is taken-that is, the party who opposes setting aside of reversing the judgment. binding authority - correct answer any source of law that a court must follow when deciding a case; binding authorities include constitutions, statutes, and regulations that govern the issue being decided, as well as court decisions that are controlling precedents within the jurisdiction. breach - correct answer to violate a law, by an act or an omission, or to break a legal obligation that one owes to another person or to society. case law - correct answer the rules of law announced in court decisions; case law includes the aggregate of reported cases that interpret judicial precedents, statues, regulations, and constitutional provisions. case on point - correct answer a previous case involving factual circumstances and issues that are similar to those in the case before the court. chancellor - correct answer an advisor to the king at the time of the early king's court of England; individuals petitioned the king for relief when they could not obtain an adequate remedy in a court of law, and these petitions were decided by the chancellor. citation - correct answer a reference to a publication in which a legal authority-such as a statute or a court decision-or other source can be found. civil law - correct answer the branch of law dealing with the definition and enforcement of all private or public rights, as opposed to criminal matters. common law - correct answer that body of law developed from custom or judicial decisions in English and U.S. courts, not attributable to a legislature. constitutional law - correct answer law that is based on the U.S. Constitution and the constitutions of the various states. court of equity - correct answer a court that decides controversies and administers justice according to the rules, principles, and precedents of equity. court of law - correct answer a court in which the only remedies that could be granted were things of value, such as money damages; in the early English king's courts, courts of law were distinct from courts of equity. criminal law - correct answer law that defines and governs actions that constitute crimes; generally criminal law has to do with wrongful actions committed against society for which society demands redress. cyberlaw - correct answer an informal term used to refer to all laws governing electronic communications and transactions, particularly those conducted via the Internet.