WSU Business Law 210 Exam 1 Questions + Answers Graded A+
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Course
WSU Business Law 210
Institution
WSU Business Law 210
Diversity of Citizenship Cases - ️️Involves disputes between different states that
exceeds $75,000
1oth Ammendment - ️️The powers not delegated to the U.S. by the constitution nor
prohibited by it to the states, are reserved for the states
Statutes/Statutory Law - ️️Written laws ena...
WSU Business Law 210 Exam 1
Diversity of Citizenship Cases - ✔️✔️Involves disputes between different states that
exceeds $75,000
1oth Ammendment - ✔️✔️The powers not delegated to the U.S. by the constitution nor
prohibited by it to the states, are reserved for the states
Statutes/Statutory Law - ✔️✔️Written laws enacted by the US Congress and State
legislatures. Subservient to Constitution
Ordinances - ✔️✔️Laws passed by local govs with effect of statutes
Common Law - ✔️✔️"Judge made law"
4th branch of gov - ✔️✔️administrative agencies, under executive branch
Legislative Branch - ✔️✔️Congress, House + Senate
Ex post facto laws - ✔️✔️Not permitted by US Constitution, applied retroactively
Executive Order - ✔️✔️Orders issued by the president or Governor, often controversial
Case law - ✔️✔️sets precedent
Substantive law - ✔️✔️The "what" of law, both criminal and civil
Procedural law - ✔️✔️The "how" of law
Criminal law - ✔️✔️crimes
Civil Law - ✔️✔️money, divorce, car accidents, etc.
Plain Meaning Rule - ✔️✔️Requires court to use exact meaning of statute
Starre Decisis - ✔️✔️Common law is the precedent
Obiter Dictum - ✔️✔️When personal opinion of judge has some persuasive affect
lower courts are bound by... - ✔️✔️the decision of higher courts. This creates stability
in law.
, Central Hudson Test - ✔️✔️4 prong test on whether or not you can regulate
commercial speech
Dicta - ✔️✔️Extra language put it
Ethics - ✔️✔️How you should be acting (not how you feel/opinions, not religion, not
cultural norms)
Laws force people to... - ✔️✔️comply with social norms
Morality - ✔️✔️Principles of right and wrong determined by one's own conscious
Utility Theory - ✔️✔️Doing most good with least harm, focus on outcome of action
rather than act itself
Rights Theory - ✔️✔️Decision maker respects the rights of all who have a stake in the
outcome of the decision, most important factor is respecting rights, who's rights are
impacted?
Justice Theory - ✔️✔️Everyone treated equally, or equitably based on norm of society
Common Good Theory - ✔️✔️Does this serve the community as a whole? Greatest
amounts of good, All individuals are part of a larger community
Virtue Theory - ✔️✔️Does this represent the decision of someone with good character?
Focus on moral traits of decision maker.
Jurisprudence - ✔️✔️Philosophy of and lens through which people view the law
Business ethics - ✔️✔️Application of a code of conduct to business decisions
Corporate Social Responsibility (CSR) - ✔️✔️The duty that decision makers have owe
to society in general. Has grown in popularity since the Sarbanes-Oxley Act
Stakeholder - ✔️✔️Anyone potentially impacted by an organization's actions
Ethicists are pushing for a move from... - ✔️✔️Profit-maximization theory to
Stakeholder approach
3 P's - ✔️✔️People (living wage, locally sourcing, etc) Planet (Avoiding deforestation,
saving species, etc) Profit (Making $ for shareholders, making $ to grow business)
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