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LSB 3213 Exam 1 (Okstate) Questions and Correct Answers the Latest Update and Recommended Version
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LSB 3213 Exam 1 (Okstate) Questions and Correct Answers the Latest Update and Recommended Version
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TestTrackers: Unlock Your Exam Potential! | Quality Practice Materials | Boost Your Confidence Today!LSB 3213 Exam 1 (Okstate) Questions and
Correct Answers the Latest Update and
Recommended Version
knowledge of "black-letter" law and what conduct leads to liability is enough
✓ false
areas of law that affect business decision making
✓ contracts, intellectual property, product liability, torts, sales, internet law (privacy),
environmental law
torts defined
✓ common law jurisdiction; a civil wrong that causes someone else to suffer loss
primary sources of law
✓ those that establish the law, such as constitutions, statutes, and regulations
what do secondary sources of law do
✓ summarize and clarify the primary sources (restatements)
deceit defined
✓ a promise made without intent of performing it
what is the fourth branch of government
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✓ administrative law
what does administrative law consist of
✓ federal agencies and state/local agencies
what law is American law based upon
✓ English common law
what do the courts of law do?
✓ they grant limited kinds of remedies
what do the courts of equity do
✓ they award non-monetary relief
why would anyone use an equity court
✓ pride and leverage
what is the hierarchy of primary sources of law
✓ US constitution, federal statutory law, state constitution, state statutory law, local
ordinance, administrative regulations, common law
have equitable maxims lost their relevance in the 21st century
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✓ no
may a party request both legal and equitable remedies in the same action
✓ yes
action of law/equity initiation of lawsuit
✓ filing complaint/ filing a petition
action of law/equity parties
✓ (plaintiff, defendant)/(petitioner, respondent)
action of law/equity decision
✓ by judge or jury/ by judge
action of law/equity result
✓ judgement/decree
action of law/equity remedy
✓ monetary damages/ injunction, specific performance, or rescission
what amendment grants the right to a jury trial to actions at law
✓ 7th
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