Exam 1: Introduction to Law

Secondary sources of law in the United States include constitutional law.

Under the Uniform Commercial Code UCC),merchants are governed by a set of rules that anticipate and allow for flexibility in contractual terms,to facilitate business needs.

Which Act requires creditors to accurately provide information concerning the costs involved in offers of credit?

Inalienable law that is superior to human-made laws is known as the philosophy of natural law.

For a legal realist,knowing who is enforcing the law is far more important than what the law actually says.

A bicameral legislature is one in which at least two bodies exist,such as the Senate and the House of Representatives in Congress.

Congress has enacted antitrust legislation that precludes anticompetitive practices,such as colluding and price fixing.

_____ prohibits discrimination related to protected characteristics in hiring and employment practices.

Which of the following statements about the Congress is true?

Marketers must take great care not to engage in deceptive advertising practices,lest their employer run afoul of the:

Discuss how the legal system could have averted or mitigated the damage from the 2008 credit crisis.

Rule of law is a system of laws under which the people and the government are bound,which allows predictability and restraint of government action.

After analyzing the facts by comparing elements of the rule of law,what can then be asserted via the IRAC model?

The Truth in Lending Act TILA)guarantees the borrower access to capital on the basis that they have provided truthful information to the lender.

The Founding Fathers of the United States rejected inclusion of concepts from all prior forms of government when writing the U.S.Constitution,because none of the prior governments ever worked.

Which of the following is an example of private law?

A person violating a social norm or custom will face strict legal consequences.

How does the rule of law protect businesses from government? Explain with an example.

Identify the primary goals of rule of law systems.

The powers of Congress are enumerated in: