Dispute resolution, regulation correct answers The law plays two major roles in the business world _____ and _________.
Dispute Resolution correct answers The law gives people and business entities a forum to settle their differences; whether it be through the enforcement of some legal issue suc...
MGMT 209 exam 1 || QUESTIONS AND ANSWERS
VERIFIED 100% CORRECT
Dispute resolution, regulation correct answers The law plays two major roles in the business
world _____ and _________.
Dispute Resolution correct answers The law gives people and business entities a forum to
settle their differences; whether it be through the enforcement of some legal issue such as the
enforcement of contracts or the recognition of private property rights in eminent domain
Regulation correct answers Law directs and standardizes activities that would otherwise be
considered purely private interactions of individuals; government intervention; typically
justified on the grounds that society has some stake in the outcome of the regulated activity
and that the well being of society can and will be improved through said government
involvement; gov becomes an active third party by regulating the activity and is a potent
force in the legal environment of business
Law (Simple) correct answers A very broad concept that is difficult to define; a collection of
rules and regulations that determines how the government will treat its citizens, how its
citizens will treat the government, how its citizens treat each other, and the enforcement of
these laws; sets the parameters for acceptable and unacceptable behavior among citizens and
between citizens and the government; still, it has no set definition
Law (Black's Def.) correct answers That which is laid down, ordained, or established; a rule
or method according to which phenomena or actions coexist or follow each other; that which
must be obeyed and followed by citizens, subject to sanctions or legal consequences
Constitutional Law correct answers Derived from the US constitution (the most important
and binding legal and political document in the country), if any laws are found to be
unconstitutional they cannot exist; the constitution is the supreme law
Supreme Law correct answers In the US this is the constitution, a law that ranks higher than
other laws and can therefore determine the validity of other laws
Statutory Law correct answers Processes which are set forth in the constitution and have
power which rests mainly in the US Congress; this can constrain business behavior; EX:
National Labor Relations Act of 1932, Securities Act of 1933, Consumer Product Safety Act
of 1972, Civil Rights Act of 1964, among others; state legislatures and other municipal ruling
bodies or other governmental entities can also pass statutory laws
Legislative Law correct answers AKA Statutory Law
Statutes correct answers Laws that constrain business behavior; these are passed by the US
Congress and they have extensive power to do so
Executive Orders correct answers When the president wishes to make a law and bypass the
constraints on their law making ability, they would use one of these; EX: No. 11246 which
was issued by President Johnson in 1965 and requires that all government contractors take
"affirmative action" to ensure that their employment practices are not discriminatory, Clinton
,issued one to protect federal homosexual employees, Obama overturned the "Don't Ask,
Don't Tell" order put in by Clinton in order to issue his own which allows LGBTQ people to
serve openly in the armed forces; like regular laws these must be enforced to be protected
Common Law correct answers Created by judges as they interpret and apply the law through
the determination of the facts; the heart of this system is Stare Decisis, which is the basis of
prior ruling creating a precedent; AKA Judge made law since it is created by the court
Enforced correct answers Laws must be ______.
Stability correct answers Enforcement of laws leads to ______.
the President correct answers Who appoints heads of federal agencies and cabinet members
(these appointments in turn affects the legal environment for businesses depending on how
this administration chooses to enforce policies, and negotiate trade and treaties)?
Executive Branch correct answers A majority of business in the federal government is
conducted through the ______________.
FALSE correct answers T or F: The President both appoints judges and justices AND
influences their decisions and interpretations.
Interpret Law and Determine Facts (if there is no jury) correct answers What are the two
basic functions of judges in a trial?
Stare Decisis correct answers Means that previously decided cases should be followed unless
there is a good, legal reason to change the previous decision; when the court follow this
doctrine it is said to be following precedent
Precedent correct answers Made when a court rules on the facts of a particular controversy,
which is when a court makes a ruling; it is the established answer to that set of facts; typically
this can only be done by an appellate court
Reluctant correct answers Judges are __________ to change common law.
Judge Made Law correct answers Also known as common law; laws created by the court
rulings and precedent
state and federal statutes and constitutional provisions correct answers Interpretation includes
interpreting the meaning of _____________.
Judicial Interpretation correct answers Interpretation of the broad language of the law when
applied to specific individual circumstances
Legislative Intent correct answers The legislative body expects courts to attempt to interpret
statutes and constitutions according to the intent of the drafters, the legislative body; courts
therefore rely on this for guidance when interpreting
Judicially Passive correct answers When a judge defers to legislative intent instead of casting
their own judgment on a case; seen in 2012 when Chief Justice John Roberts of the US
, supreme court voted in favor of the Constitutionality of Obama's health care program, even
though he personally disagreed he followed the intent of congress.
Judicial Activism correct answers When judges interpret the law instead of following
legislative intent; the judge may feel that they can improve the law or may just disagree with
the legislative bodies; legislative intent can be completely changed through this; judges as
legislators in black robes
Create a new law or constitutional amendment correct answers What can Congress do if it
disagrees with the judicial interpretation on a statute or law?
TRUE correct answers T or F: When congress tries to "overturn" a court decision by creating
a new law or constitutional amendment they are rarely successful.
TRUE correct answers T or F: The judiciary can also interpret agency decisions.
Judicial Review correct answers The power the courts have to interpret the constitution and
statutes; this power was given to the courts through the landmark decision of Marbury v
Madison in 1837; the power to declare an act of Congress or the President unconstitutional
and thus unenforceable
Marbury v Madison correct answers Landmark supreme court case that established judicial
review in 1837
Texas v Johnson correct answers Landmark supreme court case; protestor burned a US flag
outside of the convention hall in Dallas where the RNC was being held in 1989 in a show to
oppose Reagan's administration and his second term, at the time there was a Texas law that
prohibited flag burning, the supreme court then decided that the law was unconstitutional as it
was too restrictive on first amendment rights; in response to this, wanting to overturn the
court's decision, Congress launched the Flag Protection Act of 1989, but the Supreme Court
also declared this unconstitutional in US v Eichmann in 1990
United States v Eichmann correct answers Supreme court case which declared the Flag
Protection Act of 1989 unconstitutional in that it was too restrictive of first amendment
rights, this was all in response to Texas v Johnson and its precedent on flag burning; 1990
Administrative Law correct answers One of the most important sources of law; Collective
law created by several federal administrative agencies; both federal and state, States each
have their own unique set of administrative regulations that build off of the federal
administrative regulations; includes municipalities
Police Powers correct answers The power of the state to place restraints on the personal
freedom and property rights of persons for the protection of the public safety, health, morals,
or the promotion of the public convenience and general prosperity; reserved to the states and
specified in the 10th amendment; this empowers states to regulate businesses in the interest of
protecting public health and safety and to promote the public welfare
FALSE correct answers T or F: State regulations should interfere with interstate regulations.
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