BUSINESS LAW IVY TECH EXAM QUESTIONS AND ANSWERS A+ GRADED
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Module
IVY TECH
Institution
IVY TECH
BUSINESS LAW IVY TECH EXAM QUESTIONS AND ANSWERS A+ GRADED
What does Law establish?
establishes rights, duties and privileges that are consistent with the values and beliefs of a society or its ruling group
What does the Law consist of?
consists of enforceable rules governing relationship...
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BUSINESS LAW IVY TECH EXAM QUESTIONS AND
ANSWERS A+ GRADED
What does Law establish?
establishes rights, duties and privileges that are consistent with the values and beliefs of
a society or its ruling group
What does the Law consist of?
consists of enforceable rules governing relationships among individuals and between
individuals and their society
What is Constitutional Law?
found in text and cases arising from federal and state constitutions
US Constitution is the supreme law of the land
What is Statutory Law?
laws enacted by federal and state legislatures. Statutory Law comes fro Statues (the
law) or the legislature. Can be local legislature also.
Ordinances: enacted by a local or state body of law
What is Primacy source of Law?
the constitution, court decision or administrative rule
What is Secondary source?
Law encyclopedia or commentary
What is Administrative Law?
Law created by federal or state agencies, ex speed limits
What is Agency Creation?
administration agencies can be independent regulatory agency such as FDA
What is Rule Making?
rules, orders and decisions of administrative agencies
What is Administrative Law, Adjudication?
purpose is to ensure that the rule issued is based on a consideration of relevant factors
rather than being arbitrary and capricious, which include the powers to: ---conduct
inspections and tests
-issue subpoenas
-search warrants
What is Case Law and Common Law Doctrines?
rules and decisions made by courts, otherwise known as case law, governs all areas of
law not covered by statutory or administrative law
What is Stare Decisis?
controlling precednet, practice of deciding new cases based on precedent a higher
courts decisions is a precednet that has binding authority on lower courts.
Departures from precedent
What are equitable remedies and courts of equity?
remedy, means to enforce a right or compensate for injury to that right
equitable remedy and Remedy are not always the same
What is Substantive vs. procedural Law?
, -substantive laws that define and regulate rights and duties.
-Procedural laws that establish methods for enforcing and protecting rights
What is Civil Law and Criminal Law?
Civil: private rights and duties between persons and government
Criminal: public wrongs against society
What is separation of powers?
Executive, Legislative and Judicial. Provides checks and balances
legislative: enacts laws
executive enforces laws
judicial: declares laws/actions unconstitutional
What is Commerce Clause?
-US Constitution gives congress the power to "regulate commerce with foreign nations
and among the several states and with the indian tribes Art 1 & 8)
-greatest impact on business than any other constitutional provisions.
What is Supremacy Clause article?
Article IV of the constitution produces that constitution laws and treaties of the US are
the supreme law of the land
What is Preemption?
when Congress chooses to act in a concurrent area, federal law preempts state law
What is the Business Bill of Rights?
1791, 10 guarantees of protection of individual liberties from government interference
originally: bill of rights only applies to the federal government
What is the First Amendment?
Freedom of Speech, right to free speech is the basis for our democratic government.
Symbolic speech includes gestures, movements, articles of clothing
ex. Texas vs. Johnson 1989
Hodgkins vs Peterson 2004
What freedom of speech is not protected?
unprotected speech that is not protected is defamatory speech, threatening speech that
violates criminal laws
What is Freedom of Religion?
first amendment guarantees that congress shall make no law respecting an
establishment of religion or prohibiting the free exercise thereof
What is the Freedom of Religion establishment clause?
no state sponsored religion of preference for one religion over another
What is the First amendment: Freedom of Religion Free Exercise Clause?
guarantees that a person can hold and practice any (or no) religious belief. only the
actions of the governments- not the individual are prohibited
What is Due Process?
fifth and fourteenth amendments that guarantee that no person shall be deprived of life,
liberty or property with out due process of law. State constitutions often include similar
clauses
*Requires a notice and fair hearing, public acknowledgment is something to keep in
mind.
What is Equal Protection?
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