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MGMT 209 - Test 1 (Chapters 1-4) CORRECT ANSWERS.
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Enforcement leads to: correct answers stability, predictability, uniformity The law plays two major roles in business: correct answers 1. Dispute Resolution 2. Regulation 5 sources of law correct answers 1. Common Law 2. Equity Law 3. Statutory Law 4. Constitutional Law 5. Executive Orde...

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  • August 7, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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MGMT 209 - Test 1 (Chapters 1-4) CORRECT
ANSWERS.
Enforcement leads to: correct answers stability, predictability, uniformity

The law plays two major roles in business: correct answers 1. Dispute Resolution
2. Regulation

5 sources of law correct answers 1. Common Law
2. Equity Law
3. Statutory Law
4. Constitutional Law
5. Executive Orders and Administrative Rules

Can the President independently pass laws? correct answers Yes. They are called executive
orders

Where is common law written down? correct answers It is not. Common Laws are judge
made laws

Virginia plan correct answers "Large state" proposal for the new constitution, calling for
proportional representation in both houses of a bicameral Congress. The plan favored larger
states and thus prompted smaller states to come back with their own plan for apportioning
representation.

"Law" definition correct answers Law is the collection of rules and regulations that
determines how the government will treat its citizens and how the citizens will treat the
government as well as other citizens AND the enforcement thereof

Law is difficult to define because correct answers it is considered an abstract term, can mean
different things to different people at different times

Statutory Law is also called correct answers legislative law

Statutory law is created by correct answers legislative bodies

"Stare Decisis" means correct answers stand by the decision of decided cases

Marbury v. Madison correct answers This case establishes the Supreme Court's power of
Judicial Review

Texas v. Johnson correct answers A 1989 case in which the Supreme Court struck down a
law banning the burning of the American flag on the grounds that such action was symbolic
speech protected by the First Amendment.

Judicial Review is correct answers review by the US Supreme Court of the constitutional
validity of a legislative act.

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