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legl 4400 test 1d questions with complete solutions 2024
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legl 4400 test 1d questions with complete solutions 2024
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legl 4400 test 1A college student named Izzy is driving on Prince Ave while also texting with
her friend about going out later in the night. Izzy looks down at her phone
when she receives that irresistible "ding" which happens to be just as she
approaches an intersection. Sure enough, the light turns red before Izzy
enters the intersection, and she proceeds to hit a car that is completing a left
hand turn. The other driver is taken to the hospital with injuries. Is Izzy liable?
APPLY IRAC - correct answer ✔- tort case
- apply IRAC
Issue:
Was Izzy negligent and therefor liable to the crash victim?
Rule:
- duty
- breach of the duty
- causation (cause in fact and proximation)
- actual injury
Analysis:
Drivers owe a duty to act as a reasonable driver and to protect other people
and their property. Izzy breached her duty by being distracted and running a
red light which is not acting reasonably. "But for" Izzy breaching the duty, the
accident would not have occurred (or at least was a substantial factor) which
satisfies the causation in fact requirement and the breach was also the
proximate cause of the injury (there was no intervening event and the plaintiff
was also within the zone of danger (expectation) for the negligence action).
Conclusion :
,Yes Izzy was negligent and is liable to the crash victim for the damages
IRAC stands for - correct answer ✔issue, rule, application, conclusion
t/f law can be used and designed in a way that gives strategic advantage -
correct answer ✔true; ex. intellectual property rights, tax incentives, etc.)
- develop new businesses around specific laws
- use compliance as a selling point
- influence laws in your favor
t/f law = ethics - correct answer ✔false; law and ethics is related BUT they
are NOT the same thing
t/f law is the baseline and this is much broader - correct answer ✔true
resource based view - correct answer ✔- resource must possess value --
improve efficiency or effectiveness
- rare - less than perfect competition so can differentiate yourself
- imperfectly imitable - uniqueness
- lack equivalent substitutes
different legal strategies - correct answer ✔- avoidance
- compliance
- prevention
- value
-transformation
,avoidance - correct answer ✔- law is viewed as a costly and random or
arbitrary barrier to business
compliance strategy - correct answer ✔law is viewed as a necessary
constraint on managerial action
prevention strategy - correct answer ✔law can be used to preempt future
discrete business-related risks
value - correct answer ✔law is used with the goal of creating tangible
identifiable value
transformation - correct answer ✔law is essential aspect of long term
strategic planning for the business
common law - correct answer ✔- judge made
- precedent stare decisis - let the prior decision stand
- restatements
- countries still include a majority of statutory and regulatory law -- some of
which is UNIFORM but MUCH is NOT)
civil law - correct answer ✔relies heavier on litigation
t/f criminal law and civil law are the same - correct answer ✔false
source and hierarchy of laws - correct answer ✔- us constitution
- treaties vs. federal statutes
- federal admin law
, - federal common law
state constitution
state statutes
state admin law
what are restatements? - correct answer ✔- NOT actually the law
- restating what the courts have said in the past
- summarize the common law for you
- NOT on the hierarchy of law
- courts use it an influential persuasive arguments
-
t/f to get the most value out of your company's legal strategy, you should
focus solely on compliance - correct answer ✔false; transformative
t/f law and ethics are not the same thing, but they are certainly related -
correct answer ✔true
t/f legal advice and strategy can give a firm a competitive advantage over its
competitors - correct answer ✔true
t/f "Corporate Governance" refers to the way Congress passes laws to favor
corporations over other types of legal entities. The effect is this approach
often disadvantages small businesses. - correct answer ✔false
corporate governance - correct answer ✔rules that protect the property
interest that owners have in the business, try to prevent people outside the
business from abusing their positions for their own advantage to hurt the
owners of the company
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