Exam (elaborations)
Exam- Business Law Final Ivy Tech; Questions and Answers
- Course
- Institution
Exam- Business Law Final Ivy Tech; Questions and Answers
[Show more]
Content preview
Exam- Business Law Final Ivy Tech; Questions andAnswers
What does Law establish? Correct-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? Correct-consists of enforceable rules governing
relationships among individuals and between individuals and their society
What is Constitutional Law? Correct-found in text and cases arising from federal and state
constitutions
US Constitution is the supreme law of the land
What is Statutory Law? Correct-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? Correct-the constitution, court decision or administrative
rule
What is Secondary source? Correct-Law encyclopedia or commentary
, Exam- Business Law Final Ivy Tech; Questions and
Answers
What is Administrative Law? Correct-Law created by federal or state agencies, ex speed
limits
What is Agency Creation? Correct-administration agencies can be independent regulatory
agency such as FDA
What is Rule Making? Correct-rules, orders and decisions of administrative agencies
What is Administrative Law, Adjudication? Correct-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? Correct-rules and decisions made by
courts, otherwise known as case law, governs all areas of law not covered by statutory or
administrative law
, Exam- Business Law Final Ivy Tech; Questions and
Answers
What is Stare Decisis? Correct-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? Correct-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? Correct--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? Correct-Civil: private rights and duties between
persons and government
Criminal: public wrongs against society
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 or Stuvia-credit 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 ExamRoom. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72964 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now