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Legal Environment of Business_ Unit 1.
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Legal Environment of Business_ Unit 1.
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Legal Environment of Business Unit 1 Test_____ is a body of rules of action or conduct prescribed by controlling authority and
having binding legal force. - ANS-Law
Which of the following is not a primary function of law in the UnitedStates? -
ANS-establishing uniform principles of individual morality
Laws that make certain activities crimes are an example of which function of thelaw? -
ANS-keeping the peace
Laws that allow for the settlement of cases prior to trial are an example of which
function of thelaw? - ANS-providing a basis for compromise
Laws that are enacted only after considerablestudy, debate, and public input are an
example of which function of thelaw? - ANS-facilitating orderly change
UnitedStates' law evolves and changes along with all of the following EXCEPT -
ANS-misuses and oversights of our legal system
The_____ School of jurisprudence asserts that the law is a means of achieving and
advancing certain sociological goals. - ANS-Sociological
The_____ School of jurisprudence believes that the law is a set of rulesdeveloped,
communicated, and enforced by the ruling party rather than a reflection of thesociety's
morality,history, logic, or sociology. - ANS-Command
The_____ School of jurisprudence proposes that legal rules are unnecessary and are
used as an obstacle by the powerful to maintain the status quo. - ANS-Critical Legal
Studies
The________ School of jurisprudence believes that promoting market efficiency should
be the central goal of legal decision making. - ANS-Law and Economics
Which of the following schools of jurisprudential thought might suggest that the federal
government's policy of subsidized housing provides incentives resulting in too many
homes beingbuilt? - ANS-Law and Economics
, The_____ School of jurisprudence asserts that the law should be based on morality
and ethics. - ANS-Natural Law
When legal scholars look to past legal decisions(precedent) to solve contemporary
problems, it is an example of which school ofjurisprudence? - ANS-Historical School
English_____ law was developed byjudges, who issued their opinions when deciding
cases. The principles in these cases became precedent for later judges deciding similar
cases. - ANS-common
Which of the following are categories of courts that established English commonlaw? -
ANS-law, equity, and merchant
What was the main reason for the creation of law courts by William the Conqueror
during the early development of the English commonlaw? - ANS-to administer the law
in a uniform manner
What was the main reason for the establishment of chancery courts during the
development of English commonlaw? - ANS-to eliminate unfair results and limited
remedies of law courts
_______ courts were allowed to give equitable remedies under the English common
_
law. - ANS-Chancery
Which of the following statements is true about the early development of English
commonlaw? - ANS-Equitable orders and remedies of the Court of Chancery took
precedence over the legal decisions and remedies of the law courts.
_____ the supreme law of the United States. - ANS-The United States Constitution is
(n) _____ is a written law enacted by the legislative branch of the federal and state
A
governments that establishes certain courses of conduct to which covered parties must
adhere. - ANS-statute
(n) _____ is a law enacted by local governmentbodies, such as cities and
A
municipalities, counties, schooldistricts, and water districts. - ANS-ordinance
The Securities and Exchange Commission is an example of a_____. - ANS-federal
administrative agency
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