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BMGT 380 - Business Law Midterm #1 Exam Questions With Verified Answers

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BMGT 380 - Business Law Midterm #1 Exam Questions With Verified Answers 7 Sources of Law - answerConstitutional Statutory Common Administrative (Regulations and Decisions) Treaties Ordinances Executive Orders Constitutional Law - answerLaw that involves the interpretation and application o...

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  • November 18, 2024
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  • Exam (elaborations)
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  • BMGT 380
  • BMGT 380
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©BRIGHTSTARS EXAM SOLUTIONS

11/14/2024 12:19 PM


BMGT 380 - Business Law Midterm #1
Exam Questions With Verified Answers


7 Sources of Law - answer✔Constitutional
Statutory
Common
Administrative (Regulations and Decisions)
Treaties
Ordinances
Executive Orders

Constitutional Law - answer✔Law that involves the interpretation and application of the U.S.
Constitution and state constitutions; DC's version is called a charter.

Statutory Law - answer✔Law that comes from statues - pieces of proposed legislation that later
became a law.

Common Law - answer✔A legal system based on custom and court rulings. Precedence -
judgements used in previous cases that can be applied to provide a relevant ruling.

Administrative (Regulations and Decisions) - answer✔Similar to statues, but created by a legal
agency.

Treaties - answer✔Formal agreements with other countries - does not become source of law
until two-thirds of the Senate approves.

Oridance - answer✔A local law - like a statue, but on a smaller scale.

Executive Orders - answer✔Formal orders issued by the president to bypass the Legislator.
Supreme Court is the only entity that can control these orders.



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, ©BRIGHTSTARS EXAM SOLUTIONS

11/14/2024 12:19 PM

Priority Rules - answer✔When constitution and laws conflict, the following rules must be
applied:


1. Constitution trumps all other sources of law
2. Federal statues trump conflicting state statues and state constitutions
3. Statues trump Common Law and Administrative Regulations
4. Administrative Regulations trump a conflicting Common Law Rule

Classification of Law - answer✔1. Criminal vs Civil
2. Substantive vs Procedural
3. Public vs Private

Criminal Law - answer✔A law that defines crimes against the public order.

Civil Law - answer✔The system of law concerned with private relations between members of a
community rather than criminal, military, or religious affairs.

Substantive Law - answer✔Law that defines, describes, regulates, and creates legal rights and
obligations.

Procedural Law - answer✔Law that establishes the methods of enforcing the rights established
by substantive law.

Public Parties - answer✔Lawsuit of the government vs private party

Functions of Law - answer✔1. Peace keeping
2. Control government power
3. Promoting people's reasonable expectations
4. Promoting economic growth through free competition
5. Promoting social justice
6. Protecting the environment

Legal Reasoning - answer✔The reasoning process used by judges in deciding what law applies
to a given dispute and then applying that law to the specific facts or circumstances of the case



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