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The Legal And Ethical Environment of Business 3rd Edition By Lisa Johnson - Test Bank
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, Chapter 1Introduction to Law
True/False Questions
1. Decisions about what we should and should not do are guided exclusively by the law and
nothing else
False; Easy
2. The study of law can help a business owner understand how to start and operate a business,
regulation, and liability.
True; Easy
3. Frivolous lawsuits are permitted to advance in the legal system as most attorneys are
committed to justice and fairness.
False; Easy
4. A person violating a social norm or custom will face strict legal consequences.
False; Moderate
5. Law is a set of rules that are enforced by a government authority.
True; Easy
6. Inalienable law that is superior to human-made laws is known as the philosophy of natural
law.
True; Moderate
7. Legal positivists believe in the power of civil disobedience when a law is unjust.
False; Moderate
8. Legal positivists do not believe that law is simply power, because they believe that valid law
must be created pursuant to the existing rules that allow the law to be created.
True; Easy
9. Insider trading is the use of public information to buy or sell a stock to make money.
False; Moderate
10. For a legal realist, knowing who is enforcing the law is far more important than what the law
actually says.
True; Easy
11. Natural law is the idea that humans possess certain inalienable rights that are the products of
human-made law.
False; Easy
12. Civil rights activists never rely on natural law arguments to advance their platforms.
False; Moderate
© 2017 by FlatWorld
,13. Uniform codesand journal articles are primary sources of law.
False; Moderate
14. Secondary sources of law are created by a recognized, legitimate law-creating authority rather
than by legal scholars.
False; Moderate
15. Statutory law is law created by the U.S. Constitution.
False; Moderate
16. Public law applies only to people who work in public positions, such as people who work for
the government.
False; Moderate
17. Private laws are legally binding on parties who agree to it.
True; Easy
18. The requirement that a suspect be read his or her Miranda rights before being placed into
police custody is an example of procedural law.
True; Easy
19. A contract outlining terms of a land sale between two companies is an example of public law
in action.
False; Moderate
20. All examples of civil law are also considered criminal; they are merely tried in civil courts.
False; Moderate
21. A state law passed in 2011 would override a federal law pertaining to the same issue
in 2006.
False;Moderate
22. A bicameral legislature is one in which at least two bodies exist, such as the Senate and the
House of Representatives in Congress.
True; Moderate
23. A system in which power is divided between multiple forms of government is called
federalism.
True; Easy
24. All states are granted an equal number of senators, with the number of representatives
determined by the most recent census figures.
True; Moderate
25. Constitutions, statutes and judicial opinions would all be examples of primary sources of law.
True; Easy
26. Rule of law is a system of laws under which the people and the government are bound, which
allows predictability and restraint of government action.
True; Easy
© 2017 by FlatWorld
, 27. The Founding Fathers of the United States rejected inclusion of concepts from all prior forms
of government when writing the U.S. Constitution, because none of the prior governments
ever worked.
False; Moderate
28. The United States was the originator of the rule of law system.
False; Moderate
29. Secondary sources of law in the United States include constitutional law.
False; Easy
30. Rule of law systems clearly lay out an organizational structure in which it is determined who
has the right to govern.
True; Moderate
31. An ex post facto law is a type of law that is applied retroactively to its passage.
True; Easy
32. The rule of law provides protection for property.
True; Easy
33. If a person sells firearms in a retail capacity in the United States, the person would be subject
to both state and federal laws.
True; Easy
34. Under the Uniform Commercial Code (UCC), merchants are governed by a set of rules that
anticipate and allow for flexibility in contractual terms, to facilitate business needs.
True; Moderate
35. Congress has enacted antitrust legislation that precludes anticompetitive practices, such as
colluding and price fixing.
True; Easy
36. Since everyone is subject to the rule of law, this means that government itself cannot
overextend its reach when regulating or investigating businesses.
True; Easy
37. Largely as a result of the fallout from the Enron case, Congress passed the Emergency
Economic Stabilization Act.
False; Easy
38. A Ponzi scheme is also known as a pyramid scheme.
False; Moderate
39. The Truth in Lending Act (TILA) guarantees the borrower access to capital on the basis that
they have provided truthful information to the lender.
False; Moderate
40. Title VII of the Civil Rights Act prohibits discrimination related to protected characteristics
in hiring and employment practices.
© 2017 by FlatWorld
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