Exam 17: The Legal and Regulatory Environment of Business

The median award for damages in civil cases is $90,000.

Under _____, the plaintiff doesn't have to prove negligence on the manufacturer's part, nor does it matter how much care was taken by the manufacturer to prevent defects.

It takes only a small increase in the price of cigarettes to reduce demand by a significant amount.

Under the doctrine of strict liability in tort, your right to compensation for injury is based on the fact that:

Punitive damages are monetary awards intended to meet the primary goal of legal action in tort cases.

The punishment in tort cases is the monetary compensation that the court orders the defendant to pay the plaintiff.

John Parrimore and Mary Gonzales have entered into a _____.The legal and enforceable agreement between the two parties creates an obligation or duty to either do or not to do something specific.

An agreement is an exchange of promises or an exchange of a promise for an act.

Law pertaining to rules set down by any of the numerous agencies and departments created to administer federal or local law is called _____.

Assault and battery is a criminal matter and does not involve civil law.

The law works to make business relationships as predictable as possible.

The basic obligation that one person owes another not to cause harm or an unreasonable risk of harm is called _____.

_____ is a body of enforceable rules and principles of conduct.

The weight of evidence necessary for a judge or jury to decide in favor of the plaintiff or the defendant is called _____.

Capacity is a legal relationship between two parties in which one party acts on behalf of, and under the control of, another.

If a case has been adjudicated, then it is pending in court.

Laws preventing the forcible overthrow of the government are meant to _____.

Government legislation and regulation often pose economic and management burdens for many U.S.businesses.

In terms of legal ethics, filling the air with secondary cigarette smoke is considered mala prohibita (bad because we declare them to be bad).

According to California law, someone caught littering can be fined up to $1000 and sentenced to perform 8 hours of community service.