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NCSU MIE 305 Exam 1 (Chapters 1-3) (3)
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NCSU MIE 305 Exam 1 (Chapters 1-3) (3)
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NCSU MIE 305 Exam 1 (Chapters 1-3)What is the importance of a Business Law course in a business/management curriculum, and/or
the importance of knowing something about it to a businessperson? - ANS-The law is important
to modern business. The history of business reveals the prominence of law. Educators today
emphasize the role of law in preparing tomorrow's business leaders.
How can business people use the law to a strategic advantage? - ANS-Knowing legal rights and
duties enhances one's ability to identify legal risks and effectively reduce or eliminate resulting
legal liability. Knowing legal rights and duties allows business leaders to use the law to their
strategic advantage.
Series of treatises that articulate the principles or rules for a specific area of law -
ANS-Restatement of the Law
Do the differences between primary and secondary authority change depending on what court
one is in? - ANS-If the legal resource is from somewhere else or here, then it becomes
controlling or persuasive
What's the difference between primary and secondary authority? - ANS-If it's a case or a statute
(including administrative rules), it's primary authority. If it's anything other than a case or statute,
it is secondary authority
What is the difference between controlling and persuasive authority? - ANS-Controlling authority
is law that is directly binding on a court in that jurisdiction. Persuasive authority is law
somewhere, but just not here
Why has the US experienced an "orgy of statute-making," as it's described in the book? -
ANS-As legislators churn out more statutory law, there is by necessity more printed definition
of—and therefore less interpretive space for—the rules of law, and many common law principles
are modified or even eviscerated by statutes which come along to trump them
How do judges approach their powers of equity? - ANS-Courts of equity use philosophical
sounding maxims, or general principles of justice, instead of strict rules of law to decide cases.
What is equity? - ANS-A branch of law that developed alongside common law and is concerned
with fairness and justice, formerly administered in special courts
How can modern US judges make decisions between law and/or equity, and under what
circumstances? - ANS-Decisions of law typically involve monetary damages, decisions of equity
typically refers to injunctions, specific performance, or vacatur
, How did equity develop, both in England and the US? - ANS-Before you could sue someone for
those money damages, you often had to go through difficult procedural mechanisms to get
written permission to do so. This system dissuaded many parties from going to the bother of
seeking justice in that way.
What are alternatives to common law in use in world legal systems? - ANS-A civil-law or
code-law system is one where all the legal rules are in one or more comprehensive legislative
enactments
Who or what was instrumental in Common law's development? - ANS-Henry II
How did the Common Law come to be, and how was it spread across England? - ANS-Henry II
streamlined the court system and standardized it throughout the land, requiring great deference
be paid to the decisions of the curia regis and developing a system of "ridings" and "circuits".
Judges would learn from each other the intended interpretation of rulings from the curia regis,
and as they shared their own case decisions with each other, a general consensus among
judges of what the common law rule should be in a certain case with a certain set of facts
developed
What is judicial review, and why was Marbury v. Madison important to that concept? - ANS-The
power of the judiciary to review the actions of the other branches of government and to set them
aside as null and void if they are in violation of the Constitution. In this case, they literally
created for the court a power that the founding fathers had not enumerated (spelled out) in the
Constitution.
What are the four sources of law, and how do they fit hierarchically? - ANS-(1) constitutions; (2)
legislation; (3) administrative agencies; and (4) common law rules.
What is the significance of Llewelyn and Hoebel's The Cheyenne Way? - ANS-They used a rich
oral history to transmit the rules from generation to generation, there was no need to write the
rules down or put them in reference books anywhere.
Do legal systems have to be written? - ANS-For code law yes, for civil and common law no.
What are the objectives of a legal system? - ANS-1. Promote order in society.
2. The ability for individuals and entities to achieve justice
3. Cultivate a sense of reasonableness.
criminal law - ANS-Legally enforceable rules that forbid certain conduct as being detrimental to
the welfare of the state or the people generally, and provides punishment for their violation.
What is Vago's conflict perspectives? - ANS-It considers society as consisting of individuals and
groups characterized by conflict and dissension and held together by coercion
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