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Business Law Exam Ch. 1,3,4,5 – Perkins Questions With Complete Solutions
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Business Law Exam Ch. 1,3,4,5 – Perkins Questions WithComplete Solutions
Adjudication Correct Answers formal methods by which an
agency resolves disputes
Administrative Agencies Enforcement Power generally does not
extend to convicting persons of
___________________________. Correct Answers Criminal
violations
Administrative Law Correct Answers rules, regulations, orders,
and decisions made by administrative agencies
Appeal Correct Answers determines whether the trial court
committed prejudicial error
Appellate Courts Correct Answers (state) include one or two
levels; the highest court's decision are final except in those cases
reviewed by the U.S. Supreme Court
Arbitration Correct Answers a nonjudicial proceeding in which
a neutral party selected by the disputants render a binding
decision
-Consensual Arbitration
-Compulsory Arbitration
Attachment Jurisdiction Correct Answers jurisdiction over a
defendant's property to obtain payment of a claim not related to
the property
,Borrowing and Coining Money Correct Answers enables the
federal government to establish a national banking system to
control fiscal and monetary policy
Civil Law Correct Answers law dealing with rights and duties
the violation of which constitutes a wrong against an individual
or other legal entity
Civil Law System Correct Answers depend on comprehensive
legislative enactments (called codes) and an inquisitorial system
in which the judiciary initiates litigation, investigates pertinent
facts, and presents evidence.
Commercial Speech Correct Answers expression related to the
economic interests of the speaker and its audience; receives a
lesser degree of protection
Common Law Correct Answers the body of law that serves as
precedent for determining later controversies; basis for the
principle of stare decisis
Common Law system Correct Answers uses a body of law
developed by the courts under an adversary system in which
opposing parties initiate and present their cases
Complaint Correct Answers initial pleading by the plaintiff
stating his case
Conciliation Correct Answers nonbinding process in which a
third party acts as an intermediary between the disputing parties
, Concurrent Federal Jurisdiction Correct Answers Federal
jurisdiction is concurrent with state jurisdiction in cases of
federal questions (unless there is exclusive federal jurisdiction)
and in diversity cases.
- Diversity of Citizenship: Plaintiffs and defendants from
different states and amount in controversy is over $75,000 or
Foreign country brings suit against US citizens, or is Suit
between US citizens and citizens of a foreign country.
Conduct of Trial Correct Answers Both attorneys make an
opening statement about facts that they expect to prove
- Witnesses testify on direct examination and cross examination
- Closing arguments summarize the evidence and urge a
favorable verdict
Constitutional Law Correct Answers fundamental law of a
government establishing its powers and limitations
Contract Clause Correct Answers restricts states from
retroactively modifying public charters and private contracts
Corporate Political Speech Correct Answers a corporations
right to speak out on political issues
Court of Appeals Correct Answers Federal court, hear appeals
from district courts and review orders of certain administrative
agencies
Criminal Law Correct Answers law establishing duties which,
if violated, constitute a wrong against the entire community
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