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Business Law 3391 Test #1 Questions And Answers 100% Correct | Verified.

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  • Module
  • B LAW 3391
  • Institution
  • B LAW 3391

Primary Sources of Law - correct answer 1. Constitutional Law 2. Statutory Law 3. Administrative Law 4. Case Law Constitutional Law - correct answer Law based on documents that set forth the general...

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  • August 10, 2024
  • 33
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • B LAW 3391
  • B LAW 3391
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Business Law 3391 Test #1

Primary Sources of Law - correct answer 1. Constitutional Law

2. Statutory Law

3. Administrative Law

4. Case Law



Constitutional Law - correct answer Law based on documents that set forth
the general organization, power, and limits of their respective government.



Supreme law of the land in the United States - correct answer The United
States Constitution



Statutory Law - correct answer Law passed by Congress, state legislatures,
and/or local governing bodies



Statutes - correct answer Included in federal code of laws or the relevant state
code of laws



The Uniform Commercial Code - correct answer - Set of laws uniformed when
states intermingle and legal issues come up when doing business or other actions.



- Has been adopted by all 50 states, D.C., and the U.S. Virgin Islands



The Creation of the UCC - correct answer Through the joint efforts of the
NCCUSL and the American Law Institute.



Administrative Law - correct answer Consists of rules, orders, and decisions of
administrative agencies

,Administrative Agency - correct answer Federal, state, or local government
agency established to perform a specific function



Case Law - correct answer - Doctrines and principles announced in cases

- Governs all areas not covered by statutory law or administrative law and is part of our common law
tradition



Common Law - correct answer - The earliest version of law

- Laws adopted when US was a part of Britain

- Applies principles and precedents through different but was never record



Precedent - correct answer When courts follow and apply principles from
previous cases to current court cases



Star Decisis - correct answer Doctrine of precedents whereby prior decisions
of courts are followed under similar facts

*latin for "to stand on decided cases"



Binding Authority - correct answer any source of law that a court must follow
when deciding a case. Binding authorities include constitutions, statutes, and regulations that govern
the issue being decided, as well as court decisions that are controlling precedents within the jurisdiction



Persuasive Authority - correct answer Any legal authority or source of law that
a court may look to for guidance but need not follow when making its decision.



Equity - correct answer Equity is a branch of law founded on notions of justice
and fair dealing.



substantive v. procedural - correct answer Laws that define, Describe,
Regulate and create legal rights and obligations versus laws that establish methods of enforcing the
rights established by substantive lase.

,Civil Law - correct answer the study of the rights and obligations of individuals



criminal law - correct answer concerned with the acts against society and the
regulation of crime activity



Executive Order - correct answer - Legal orders direct form the president



- Frequently used sources of law



Classifications of Law - correct answer - Civil

- Criminal



Civil Law Burden of Proof - correct answer Preponderance of the evidence;
plaintiff has burden of proof



Criminal Law Burden of Proof - correct answer Beyond a reasonable doubt;
jury must be unanimous in decision



Mistrial - correct answer When a unanimous decision cannot be made by a
jury and a case can be tried again



Court System Creation - correct answer Established by federal and state
constitutions



Judicial Review - correct answer judiciary can decide, among other things,
whether the laws or actions of the other two branches are constitutional

-Marbury vs. Madison



Jurisdiction - correct answer The authority to listen an decide over a case

-courts need several types to hear a case

-"the power to speak the law" latin

, Types of Jurisdiction - correct answer - In personam

- In rem

- Long arm statutes

- Subject Matter



In Personam - correct answer Jurisdiction when a person/business is in their
geographical area



In Rem - correct answer Jurisdiction when property is in their geographical
area



Long Arm Statutes - correct answer Jurisdiction used for non residents/parties
are based on minimum contracts with a state



Corporate Contacts - correct answer - Used to decide whether a long arm
statute can be applicable

- Corporations advertisements or sells products within a state



Jurisdiction over Subject Matter - correct answer General: Court can hear all
sorts of Matters



Limited: Can only hear about certain types of cases (ex: probate/bankruptcy court)



When do the federal courts have original jurisdiction? - correct answer -a
plaintiff's cause of action is based, at least in part, on the U.S. Constitution, a treaty, or a federal law

-diversity of citizenship



diversity of citizenship - correct answer A basis for federal court jurisdiction
over a lawsuit between citizens of different states or a lawsuit involving a U.S. citizen and a citizen of a
different country.

-The plaintiff and defendant must be residents of different states.

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