Exam (elaborations)
Business Law and Strategy, 2nd Edition By Sean Melvin TESTBANK
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,Student name:__________
1) Much of the origins of the law dealt with issues related to property ownership.
⊚ true
⊚ false
2) Law today is crucial to business by creating some degree of reliability to be used in business
planning and commercial transactions and promoting good faith dealing among merchants.
⊚ true
⊚ false
3) It is more common for States to amend their constitutions than it is for Congress to amend
the U.S. Constitution.
⊚ true
⊚ false
4) A presidential veto is only overridden by a two-thirds majority vote of the Senate.
⊚ true
⊚ false
5) All states have combined courts of law and equity.
⊚ true
⊚ false
6) A statute of limitations determines the maximum and minimum amounts of monetary relief
that may be granted in different types of civil lawsuits.
⊚ true
⊚ false
7) A single wrongful act may violate both civil law and criminal law.
⊚ true
⊚ false
Version 1 1
,8) Freedom of speech, as defined in the Constitution, is an example of substantive law.
⊚ true
⊚ false
9) Civil law allows one party to be compensated for money lost because of another party’s
unlawful conduct.
⊚ true
⊚ false
10) When an Illinois appellate court makes a decision, stare decisis requires that Delaware trial
courts follow the case precedent when a case with a similar fact situation arises.
⊚ true
⊚ false
11) Attorneys representing a business only consult current laws to determine the best course of
action or strategy.
⊚ true
⊚ false
12) The United States Constitution is consistently amended to reflect the current societal needs.
⊚ true
⊚ false
13) According to the doctrine of specific performance cases with similar facts and issues should
have the same outcome.
⊚ true
⊚ false
14) Employing stare decisis and precedent allows a business to predict how the court will treat
their situation and plan strategically.
⊚ true
⊚ false
Version 1 2
, 15) The courts always apply the doctrine of stare decisis.
⊚ true
⊚ false
16) Black’s Law Dictionary, as cited in the textbook, defines "law" as including each of the
following except
A) A body of rules
B) Conduct prescribed by a controlling authority
C) Having the power to bind persons
D) A tool for regulating personal ethics.
17) If a state passes a new law banning horseracing within the state, the law would be defined
as:
A) An ordinance
B) A regulation
C) A statute
D) A common law
18) The City of New York has passed a law banning cigarette and cigar smoking in public bars
and restaurants. The law would be defined as
A) An ordinance
B) A regulation
C) A statue
D) A common law
Version 1 3
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