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LEGL 2700 Roessing Test 1 Questions and Answers 100% Pass
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LEGL 2700 Roessing Test 1 Questions and Answers 100% Pass JPMorgan and Chase - During the housing crisis in 2010, JPMorgan and Chase didn't let their shareholders in on information that may have impacted their stock decisions. They settled a wide array of cases costing more than $20 billion. L...

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  • November 30, 2024
  • 18
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • legl 2700 roessing test 1 questions and answers 10

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LEGL 2700 Roessing Test 1 Questions and
Answers 100% Pass


JPMorgan and Chase - ✔✔During the housing crisis in 2010, JPMorgan and Chase didn't let their

shareholders in on information that may have impacted their stock decisions. They settled a wide array of

cases costing more than $20 billion.


Law - ✔✔Brings people together.


Stated by state and backed up by enforcement.


Made up of rules.


Written ad Accessable


Hammurabi's Code - ✔✔The first written set of laws


Rule of Law - ✔✔Laws that apply to everyone equally


Property - ✔✔A legal fence that keeps others our without your permission


Ownership Fences - ✔✔Private Property


Public Property


Common Property


Private Property - ✔✔Owned by an individual


Public Property - ✔✔Owned by the government


Common Property - ✔✔Owned by more than one person jointly


Contract Law - ✔✔Enables owner to exchange resources

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,Tort Law - ✔✔Protects and compensates owner when their resources are wrongfully harmed by the

actions of others


Criminal Law - ✔✔How to convict the accused people for their wrong doings


Regulatory Law - ✔✔Protects ownership and sets private resource limitations


Antitrust Law - ✔✔Forbids owners fro monopolizing resources and sets rules for how businesses can

compete to acquire ownership of new resources


Constitutional Law - ✔✔Involves the interpretation and application of either the federal or state

constitutions


Jurisprudence and its schools - ✔✔Philosophy of law:


-Natural Law


-Positive Law


-Historical School


-Sociological Jurisprudence


-Legal realism


Natural Law - ✔✔Contains the universally moral principles


Positive Law - ✔✔Law is simply the commands of the state backed up by force and punishments


Historical School - ✔✔Emphasizes that contemporary law should focus on legal principles that have

withstood the test of time in a nation


Sociological Jurisprudence - ✔✔Supports the idea that law can and should change to meet new

developments in society




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, Common Law - ✔✔Emphasizes the role of judges in determining the meaning of laws and how they

apply


Civil Law - ✔✔Relies on legislation more than judicial decisions to determine what the law is


Precendents - ✔✔Previous judge decisions in past court cases


Administrative Law - ✔✔Covers the legal principles that apply to government agencies, bureaus, boards,

or commissions


Private Law - ✔✔Covers those legal problems and issues that concern your private resource relationships


Bank of America - ✔✔Sold morgages and faces substantial losss because of the 2010 recession


Substantive Law - ✔✔Defines the legal relationship between the people and the state


Procedural Law - ✔✔How the law works


Stare Decisis - ✔✔Doctrine of prior precedents


Constitutional Relativity - ✔✔Interpreting the Constitution as a living document and applying it in the

present


Originalism - ✔✔The idea that the courts should interpret the Constitution by the writers intentions


Sanctions - ✔✔A form of punishment for violating the law often used as a preventative function


Remedy - ✔✔Right of a person to use another person's resources because they fail to meet a law

requirement (ex: breech of contract)


Crime - ✔✔A public wrongdoing against society


Specific Performance - ✔✔An order by the court commandeing the other party actually to perform a

bargain as agreed



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