LEGL 2700 Exam Study Questions and Answers Top Graded
10 views 0 purchase
Module
LEGL 2700
Institution
LEGL 2700
3 Concepts for a functioning market -Correct Answer Law
Rule of law
Property
Law -Correct Answer the rules of the state backed up by enforcement; most significant of social forces
Rule of Law -Correct Answer the general and equal application of laws
Property -Correct Answer the right tha...
LEGL 2700 Exam Study Questions and
Answers Top Graded 2024-2025
3 Concepts for a functioning market -Correct Answer ✔Law
Rule of law
Property
Law -Correct Answer ✔the rules of the state backed up by enforcement; most significant
of social forces
Rule of Law -Correct Answer ✔the general and equal application of laws
Property -Correct Answer ✔the right that allows you to exclude others from your
resources; a "legal fence"
3 types of ownership fences -Correct Answer ✔Public
Private
Common
Public -Correct Answer ✔applies to public resources owned by the government (or
state)
ex: roads, public buildings, public monuments
Private -Correct Answer ✔applies to resources that you own as an individual
Common -Correct Answer ✔applies to resources like land that more than one individual
owns jointly
The property right (to private property) -Correct Answer ✔individuals can possess, use,
and transfer private resources; gives major incentive to develop resources
The exclusionary right of property provides a basis for? -Correct Answer ✔the private
market and modern business
The wheel of property -Correct Answer ✔Constitutional laws: establishes the framework
of the state whose purpose is to protect property
Regulatory laws: concerns public laws that protect, tax, regulate, or redistribute an
owners resources
Criminal law: provides public protection for private resources & punishes those who
harm them
Tort law: protects & compensates owners through private civil law suits when their
resources are wrongfully harmed by the actions of others
LEGL 2700 Exam
,LEGL 2700 Exam
Law of business organizations: identifies how individuals can own & use private
resources in groups; includes corporate governance
Contract law: determines how resources, including labor, are exchanged b/t owners
(bound to states)
2 meanings of jurisprudence -Correct Answer ✔1) philosophy of law
2) difference in interpretation of law between legislation and judges
5 "schools" of jurisprudence -Correct Answer ✔Natural law
Positive law
Historical school
sociological jurisprudence
legal realism
Natural law -Correct Answer ✔law contains universal moral principles that are
observable in nature
Positive law -Correct Answer ✔law that is simply the commands of the state backed up
by force & 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
Legal realism -Correct Answer ✔examines what police, administrators, prosecutors, and
judges are actually doing as they enforce & apply laws
What are the 4 classifications of law? -Correct Answer ✔Common law & Civil law
Public law & Private law
Civil law & Criminal law
Substantive law & Procedural law
Common Law -Correct Answer ✔emphasizes the role of judges in determining the
meaning of laws & how they apply
used by countries colonized by england
Civil law -Correct Answer ✔relies more on legislation than judicial decisions to
determine what the law is
-do not make law or follow precedents
Public law -Correct Answer ✔includes those matters that involve the regulation of
society as opposed to individuals interacting
a government official is responsible for seeking justice to achieve the ends of society
LEGL 2700 Exam
, LEGL 2700 Exam
3 main types of public law -Correct Answer ✔Constitutional Law: involves the
interpretation and application of either federal or state constitutions
Administrative Law: covers the legal principles that apply to government agencies,
bureaus, boards, or commissions
Criminal Law: the area of law dealing with wringings against the state as representative
of the community at large
Private law -Correct Answer ✔covers those legal problems & issues that concern your
private resource relationships with other people
3 main types of private law -Correct Answer ✔Property law: involves the recognition of
exclusive right in both tangible & intangible resources
Contract law: covers the rules on how owners transfer resources by exchanging
Tort law: establishes rules for compensation when an owner's boundaries are wrongfully
crossed by another
Civil law (civil cases) -Correct Answer ✔may include suits for breach of contract or tort
cases. typically involve a request for damages or other appropriate relief that does not
involve punishment of the wrongdoer
Criminal law (criminal cases) -Correct Answer ✔involve a representative of government
attempting to prove the wrong committed against society & seeking to have the
wrongdoer punished by the court system
Substantive law -Correct Answer ✔the part of law that creates, defines, and regulates
rights & duties; defines the legal relationship of people w/ other people or people w/ the
state
Procedural law -Correct Answer ✔deals with the method & means by which substantive
law is made & administered
provide the machinery for enforcing rights & duties
3 sources of law -Correct Answer ✔Federal Law
State Law
Judicial Decisions (Case Law)
Federal Law -Correct Answer ✔1) U.S. constitution
2.) Legislation passed by congress (statutes/acts)
3.) Administrative law or regulation made by agencies of the federal government
State Law -Correct Answer ✔1) State constitution
2) statutes or acts adopted by state legislature
3) Regulatory law of the state administrative agencies
4) ordinances (law in counties/cities)
LEGL 2700 Exam
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PossibleA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £11.81. You're not tied to anything after your purchase.
