Business Law Ivy Software Complete Exam Questions And Answers 100% Verified.

US Constitution is referred to as - correct answer supreme law of the land statutes - correct answer laws passed by LEGISLATIVE branch of government written statements of law contained in law codes criminal law - correct answer deals with conduct requirements imposed by government on citizens by statute or ordinance where the conduct represents a societal interest in need of protection brought through prosecutors standard of proof (criminal law) - correct answer requirements for preventing prevailing proof proof beyond a reasonable doubt civil law - correct answer deals with the resolution of rights between citizens or between citizens and government where criminal matters are not involved created as statutes, regulations, or common law brought to court by one citizen (plaintiff) standard of proof (civil law) - correct answer established by proof by a preponderance of the evidence stare decisis - correct answer reliance on precedence case law - correct answer common law and statutory construction are together referred to as... regulations - correct answer laws made by the executive branch of government through the administrative bodies of that branch treaties - correct answer international agreements reached between the US and one or more other countries once confirmed by the legislative branch, considered to be law Administrative Procedure Act (APA) - correct answer specifies that any rule-making (creation of regulations) must include specified amounts of public notice, acceptance and processing of public input, due consideration and fair process, and in some instances rights to appeal two organic levels of government - correct answer federal and state the commerce clause - correct answer gives the federal government the power to regulate interstate commerce, that is commerce that crosses state lines full faith and credit - correct answer each state must reasonably honor the proper judgments and orders of other state courts fifth and fourteenth amendments - correct answer require government act in all matters with due process due process - correct answer government actions must follow a knowable process which assures fairness at certain levels fifth and fourteenth amendments equal protection - correct answer fourteenth amendment taking of property - correct answer fifth amendment self incrimination - correct answer fifth amendment right to legal counsel - correct answer sixth amendment search and seizure - correct answer fourth amendment speedy trial - correct answer sixth amendment cruel and unusual punishment - correct answer eighth amendment freedom of religion - correct answer first amendment right to keep and bear arms - correct answer second amendment quarter soldier in house - correct answer third amendment against unreasonable searches and seizures - correct answer fourth amendment due process of law - correct answer fifth amendment right to speedy and public trial - correct answer sixth amendment excessive bail - correct answer eighth amendment common law, trial by jury - correct answer seventh amendment voting - correct answer twelfth amendment slavery - correct answer thirteenth amendment citizenship - correct answer fourteenth amendments right to vote - correct answer fifteenth amendments taxes - correct answer sixteenth amendment senate - correct answer seventeenth amendment liquor - correct answer eighteenth amendment discrimination when voting - correct answer nineteenth amendment presidential term - correct answer twentieth amendment liquor - correct answer twenty first amendment re-election - correct answer twenty third amendment federal courts - correct answer comprised of four distinct levels: US district courts (primary trial court for federal matters, jury trials) magistrate courts (below district court) circuit court of appeals (first level of apellate court, 13 total) US supreme court (apellate court of last resort) court of claim (private parties against US federal government for monies owed) bankruptcy courts (hear such matters, located in all districts) administrative judges (appointed to decide limited matters) state courts - correct answer all have trial courts, apellate courts, and a final supreme court court levels - correct answer two key are trial courts (first responsibility for considering legal disputes) and apellate courts (consider assertions by parties that the trial court applied improper or wrong law...questions of law not questions of fact courts that determine questions of law and questions of fact - correct answer trial courts litigation process - correct answer disputes are resolved in an enforceable manner types of procedures - correct answer civil, criminal, and evidence types of procedures at the federal level - correct answer federal rules of civil procedure, federal rules of criminal procedure, and federal rules of evidence jurisdiction - correct answer principle that asks whether a court has the legal power to hear a particular matter venue - correct answer asks which court among those having jurisdiction is the best court to hear the matter pleadings - correct answer papers filed by counsel to the parties which activate, frame, and define the litigation the complaint - correct answer the document filed by the plaintiff the answer - correct answer the document filed by the defendant counterclaim - correct answer defendant desires to sue the plaintiff, plaintiff must then file answer to the counterclaim motions - correct answer included in pleadings, are requests made by one party to the court requesting certain action motion to dismiss - correct answer made by defendant arguing that the court should throw out the lawsuit because it is somehow legally deficient motion for summary judgement - correct answer claiming that there is no real dispute as to the facts and asking for the court to decide the case without a trial true bill - correct answer a finding made by a grand jury determining that probable cause exists to believe that a crime has been committed and that the defendant committed that crime indictment - correct answer no grand jury involvement, a document similar to a complaint in a civil matter discovery - correct answer process whereby parties can investigate claims using the power of the court to compel disclosure of information; discovery also allows each party to learn all information known to the other side civil discover methods include - correct answer depositions interrogatories requests for production of documents request for admission depositions - correct answer where one party compels either another or any witness to come answer questions under oath in advance of the trial interrogatories - correct answer one part submits written questions to another; written answer must then be filed by the party receiving the interrogatories requests for production of documents - correct answer party is required to produce for inspection and copying any documents or other items, including any papers, letterls etc request for admission - correct answer party is required to admit or deny statements tendered by the other party with financial penalties for failure to admit that which is later proved to be true statutes of limitation - correct answer designed to require plaintiffs to act with some degree of diligence in pursuing a claim that he or she might have against another; require lawsuit be filed within a certain specified time after the cause of action has become ripe; failure to file in a timely manner results in forfeiture of the claim two alternative methods of dispute resolution - correct answer arbitration and mediation arbitration - correct answer alternative to litigation which can be selected by parties but is not imposed by the government unless the parties so agree, expedited case can be advisory (not required to follow results) or binding (case result is enforceable) mediation - correct answer occurs only by agreement of the parties, one or more neutral persons act as mediator mediator does not render any decision settlement four elements of an enforceable contract - correct answer agreement consideration capacity legality agreement - correct answer two or more parties actually reached an agreement contract law - correct answer identifies the presence of an effective agreement by requiring an offer and acceptance acceptance - correct answer timely and unequivocal rejection - correct answer terminates offer counteroffer - correct answer tenders back a different offer, rejects original offer consideration - correct answer promise something of value to the other legality requirement - correct answer an agreement between two or more parties may not result in a legally binding contract where the object of the agreement is illegal capacity - correct answer must have mental capacity sufficient to support the establishment of a binding agreement are afforded the capacity to enter into a binding contract form/fifth element that must be satisfied - correct answer rendered in writing, statute of frauds secured transaction - correct answer one created when a creditor makes a loan to a debt or in exchange for the debtor's pledge of personal property as security collateral - correct answer pledged property two types of property - correct answer real and personal real property - correct answer land personal property - correct answer all tangible or intangible property easements - correct answer create a right to use property for a specific purpose licenses - correct answer legal right to enter upon property and take valuable items from the property for economic harvest possession - correct answer lessee/lessor relationship, landlord/tenant ownership - correct answer most complete right to property fee simple - correct answer most complete form of ownership implies permanent right to control use and possession, including right to transfer or bequest ownership upon death defeasible ownership - correct answer cease and revert to some particular person upon the happening of a stated event tenancy in common and joint tenancy - correct answer two most common joint ownership rights community property - correct answer marriage patents - correct answer new invention copyright - correct answer protect creative productions trademarks - correct answer symbols of commercial identification corporations - correct answer provided limited liability for shareholders, may lose investment but never be liable for the obligations owned by shareholders and elected board of directors subchapter C corporations - correct answer contemplates taxation of corporate profits at the coporate level