Exam 17: The Legal and Regulatory Environment of Business

Which of the following is NOT a primary function served by law in the United States?

Intentional torts against property are the most common torts when it comes to disputes in business.

Most of the money raised by the excise tax on cigarettes is paid by non-smokers.

Let's say that you asked the manager at Ladders "N" Things whether the ladder you had in mind was fit for holding a scaffolding platform for painting a house and he said "yes".He would have made a(n) _____.

If you suffer injury because of a defective product you may file a product liability claim.

The distinction between what's inherently bad and what's bad because we declare it bad isn't always clear.

_____ are the building blocks of a modern economy.

The direct cause?and?effect relationship between the defendant's action and the plaintiff's injury is called a cause in fact.

_____ is one foundation of law that requires us to act within certain well?defined limits.It prohibits activities that take place outside those limits because they make the process of allocating resources more wasteful and expensive.

Assault and battery violates statutes established by two different types of law-criminal and civil.

Why does the government sometimes get involved with economic activity? Give an example of this.

In court, the _____ is the party filing the complaint, while the _____ is the party charged in the complaint.

As business partners, Peggy and Maria have a legal relationship where either one of them is authorized to act for the other and under that person's control.This is called _____.

Which of the following statements regarding the Uniform Commercial Code (UCC) is true?

If you direct outrageous conduct at someone and that person suffers extreme emotional pain as a result, you may be held liable for intentional infliction of emotional distress.

Courts typically award punitive damages for breach of contract.

The good thing about laws is that they can be written to take care of all contingencies that arise during the course of life.

Complaints of assault and battery fall under a specific type of civil law called _____.

The U.S.legal system has always been successful in guaranteeing equal treatment under the law.

Under the rule of law, the legal system establishes the rules of the game, adopting and enforcing them in a reasonably predictable manner.