Exam (elaborations)
Law for Business International Edition 17th Edition by Janet Ashcroft - Test Bank
- Course
- Institution
Test Bank For Law for Business International Edition 17th Edition by Janet Ashcroft Complete Test Bank
[Show more]
Seller
Follow
ExamsExpert
Reviews received
Content preview
,CHAPTER 1—INTRODUCTION TO LAWMULTIPLE CHOICE
1. The legal system we have in America:
a. Is an equal mixture of laws from all the colonies of America.
b. Is based heavily on the English legal system of common law and equity.
c. Is unlike any other legal system.
d. Was an entirely new invention of the colonists before the Revolutionary War.
ANS: B PTS: 1
2. Courts of equity:
a. Never recognized legal rights.
b. Gave only money damages as a remedy.
c. Are a separate class of courts in all states.
d. Provided preventative action.
ANS: D PTS: 1
3. Judicial interpretation is important to the legal process because:
a. It allows courts to interpret laws differently.
b. It prevents previous case law from being overturned.
c. Interpretations by the highest courts set precedents follow by lower courts.
d. Any state supreme court can reverse the Supreme Court of the United States.
ANS: C PTS: 1
4. The document containing specific guarantees of individual liberty is:
a. The Bill of Rights.
b. The Uniform Commercial Code.
c. The Constitution.
d. A restraining order.
ANS: A PTS: 1
5. Administrative agencies:
a. Have the power to regulate particular matters or implement laws.
b. Are composed of people elected by the voters.
c. Have limited power to set up rules of procedure.
d. Have the power to make rules that supercede statutes.
ANS: A PTS: 1
6. A criminal action:
a. May be filed by a private citizen to protect private rights.
b. Requires a lower standard of proof than a civil action.
c. Results in the awarding of damages to the injured person.
d. Punishes offenses that injure society as a whole.
ANS: D PTS: 1
7. The crimes that carry the most severe penalties are called:
a. Wobblers.
, b. Felonies.
c. Misdemeanors.
d. Infractions.
ANS: B PTS: 1
8. A tort:
a. Is always based on a negligent activity.
b. Is prosecuted by a district attorney.
c. Is a civil wrong for which damages may be recovered.
d. Is the result of a failure to exercise reasonable care toward someone.
ANS: C PTS: 1
9. Ethical principles:
a. Are static and unchanging.
b. Are developed from religious beliefs, experience, and cultural background.
c. Are determined by Congress.
d. Are usually a set of lower standards of behavior than laws.
ANS: B PTS: 1
10. Ethical standards in business:
a. Require businesses to consider only the impact behavior has on "the bottom line."
b. Help determine an individual's business practices.
c. Represent a code of conduct found in every profession.
d. Represent a lower standard than that required by law.
ANS: B PTS: 1
YES/NO
11. Can law be correctly defined as a rule that prescribes conduct?
ANS: N PTS: 1
12. If an agency decision conflicts with a statute, does the statute takes precedence?
ANS: Y PTS: 1
13. Is the Uniform Commercial Code uniform throughout the country?
ANS: N PTS: 1
14. Are statutes easier to repeal or amend than constitutions?
ANS: Y PTS: 1
15. Do all states have separate equity courts?
ANS: N PTS: 1
16. Can the law change when circumstances change?
, ANS: Y PTS: 1
MATCHING
a. Constitution
b. Equity
c. Negligence
d. Precedent
e. Stare decisis
f. Statute
17. A document that defines the relationships of the parts of the government to each other.
18. The principle that a court decision controls the decision of a similar future case.
19. A justice system based on fairness that provides relief other than money damages.
20. A decided case that determines the decision of a subsequent case because they are similar.
21. A law enacted by a legislative body.
22. The failure to exercise reasonable care.
17. ANS: A PTS: 1
18. ANS: E PTS: 1
19. ANS: B PTS: 1
20. ANS: D PTS: 1
21. ANS: F PTS: 1
22. ANS: C PTS: 1
ESSAY
23. Explain what business law is and how it developed.
ANS:
Business law is the class of laws that are concerned primarily with rules of conduct prescribed by
government for the performance of business transactions. These laws developed over time as a result
of society's changing concepts of what is right and wrong to deal with new technology or
circumstances.
PTS: 1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsExpert. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $32.53. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
85443 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now