MGMT 209 - Chapter 1 || WELL-ENLIGHTENED WITH COMPLETE SOLUTIONS.
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Module
Mgmt
Institution
Mgmt
Two major roles of law in business world correct answers -Dispute resolution
-Regulatory
Dispute resolution role correct answers -settles differences between two or more parties
Regulatory role correct answers -governmental interference with private business
-directs and standardizes busi...
MGMT 209 - Chapter 1 || WELL-ENLIGHTENED WITH
COMPLETE SOLUTIONS.
Two major roles of law in business world correct answers -Dispute resolution
-Regulatory
Dispute resolution role correct answers -settles differences between two or more parties
Regulatory role correct answers -governmental interference with private business
-directs and standardizes business activities to improve society
Law (definition) correct answers The collection of rules and regulations that determines
how...
-the government will treat its citizens
-the citizens will treat the government
-the citizens will treat other citizens
AND the enforcement thereof
Without enforcement... correct answers Law is useless
Enforcement of the law leads to... correct answers -Stability
-Predictability
-Uniformity (hopefully)
Constitutional law correct answers -MOST IMPORTANT source of law
-Supreme Law of the land
Statutory Law correct answers -AKA Legislative law
(Constrains behavior)
-US Congress passes laws (statutes) as per the Constitution (Article I)
-State governments can also pass legislative laws
Process of passing Statutory law correct answers -Each House (Senate and House of
Representatives) must pass bill in identical language
-Then, they send it to the President
-If he SIGNS the bill, it becomes law
-President can VETO the bill
-But Congress can override veto with:
two-thirds vote of membership of BOTH houses
-if this happens, the bill becomes law regardless of the President's veto
Executive Law correct answers -Executive Order
-President controls executive branch AGENCIES and Bureaus
-President appoints Federal Judge
Executive Order correct answers -Law by President to control policies of the Executive
Branch
Examples:
, -Affirmative Action (President Johnson, 1965)
-Don't Ask, Don't Tell (made by Clinton, repealed by Obama)
President Controlling Agencies & Bureaus correct answers -Oversees their spending
(Congress appropriates funds)
-Appoints their leaders
President Appointing Federal Judges correct answers -Normally appoints someone with
similar political ideology
-Once confirmed, the Federal Judge DOESNT have to follow political ideology
Judiciary Law (Courts) correct answers -Courts interpret the law
-If NO JURY, Courts also determine facts
-Courts use the Common Law System
-Courts INTERPRET statutes and REVIEW Agency decisions
-Courts have the power of Judicial Review
Stare Decisis Doctrine correct answers -When courts follow previously decided cases
UNLESS there is a good, legal reason to change
The Common Law System correct answers -It is also called 'Judge-made Law' because it is
law that is created by the court
-When the court follows the Stare Decisis doctrine, the are setting PRECEDENT
-This leads to predictability and uniformity
-Judges are reluctant to change precedent
Interpretation of Statutes correct answers -Usually follows legislative intent
-Courts are NOT BOUND to follow legislative intent
Judicial Activism correct answers DOES NOT FOLLOW legislative intent
CHANGES legislative intent
Judicial Review correct answers -Supreme Court assumed the power of Judicial Review (with
Marbury v. Madison)
-Judicial Review is the power of the courts to declare an act of Congress or the President
unconstitutional
-Can be OVERRULED by Constitutional Amendment (rare)
Example:
Texas v. Johnson
(Flag burning controversy)
Administrative Law correct answers -Law created by the regulatory agencies
-Governs the activities of regulatory agencies
-It is a branch of public law
-Deals with the decision making of administrative units of government
Examples:
Board of Education
Federal Trade Commission
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