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LEGL 2700 Roessing Test 1 Study Questions and Answers

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JPMorgan and Chase -Correct Answer During the housing crisis in 2010, JPMorgan and Chase didn't let their shareholders in on information that may have impacted their stock decisions. They settled a wide array of cases costing more than $20 billion. Law -Correct Answer Brings people together. St...

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  • November 8, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • legl 2700 roessing test 1
  • legl 2700 roessing
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LEGL 2700 Roessing Test 1



LEGL 2700 Roessing Test 1 Study
Questions and Answers 2024-2025
JPMorgan and Chase -Correct Answer ✔During the housing crisis in 2010, JPMorgan
and Chase didn't let their shareholders in on information that may have impacted their
stock decisions. They settled a wide array of cases costing more than $20 billion.


Law -Correct Answer ✔Brings people together.
Stated by state and backed up by enforcement.
Made up of rules.
Written ad Accessable

Hammurabi's Code -Correct Answer ✔The first written set of laws

Rule of Law -Correct Answer ✔Laws that apply to everyone equally

Property -Correct Answer ✔A legal fence that keeps others our without your permission

Ownership Fences -Correct Answer ✔Private Property
Public Property
Common Property

Private Property -Correct Answer ✔Owned by an individual

Public Property -Correct Answer ✔Owned by the government

Common Property -Correct Answer ✔Owned by more than one person jointly

Contract Law -Correct Answer ✔Enables owner to exchange resources

Tort Law -Correct Answer ✔Protects and compensates owner when their resources are
wrongfully harmed by the actions of others

Criminal Law -Correct Answer ✔How to convict the accused people for their wrong
doings

Regulatory Law -Correct Answer ✔Protects ownership and sets private resource
limitations

Antitrust Law -Correct Answer ✔Forbids owners fro monopolizing resources and sets
rules for how businesses can compete to acquire ownership of new resources


LEGL 2700 Roessing Test 1

, LEGL 2700 Roessing Test 1



Constitutional Law -Correct Answer ✔Involves the interpretation and application of
either the federal or state constitutions

Jurisprudence and its schools -Correct Answer ✔Philosophy of law:
-Natural Law
-Positive Law
-Historical School
-Sociological Jurisprudence
-Legal realism

Natural Law -Correct Answer ✔Contains the universally moral principles

Positive Law -Correct Answer ✔Law is simply the commands of the state backed up by
force and punishments

Historical School -Correct Answer ✔Emphasizes that contemporary law should focus on
legal principles that have withstood the test of time in a nation

Sociological Jurisprudence -Correct Answer ✔Supports the idea that law can and
should change to meet new developments in society

Common Law -Correct Answer ✔Emphasizes the role of judges in determining the
meaning of laws and how they apply

Civil Law -Correct Answer ✔Relies on legislation more than judicial decisions to
determine what the law is

Precendents -Correct Answer ✔Previous judge decisions in past court cases

Administrative Law -Correct Answer ✔Covers the legal principles that apply to
government agencies, bureaus, boards, or commissions

Private Law -Correct Answer ✔Covers those legal problems and issues that concern
your private resource relationships

Bank of America -Correct Answer ✔Sold morgages and faces substantial losss because
of the 2010 recession

Substantive Law -Correct Answer ✔Defines the legal relationship between the people
and the state

Procedural Law -Correct Answer ✔How the law works




LEGL 2700 Roessing Test 1

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