Question 1

The laws put forth by the legislative branch are referred to as:

Accepted Answer

A) Administrative Codes 
B) Statutes 
C) Uniform Rules 
D) Executive Orders 
E) Secondary Laws 
A) Administrative Codes 
B) Statutes 
C) Uniform Rules 
D) Executive Orders 
E) Secondary Laws B

Question 2

Which of the following is not a commonly recognized classification of the law?

Accepted Answer

A) National 
B) Federal 
C) International 
D) Private 
E) Philosophical 
A) National 
B) Federal 
C) International 
D) Private 
E) Philosophical E

Question 3

Which of the following involves disputes between private individuals or groups?

Accepted Answer

A) Public law 
B) Private law 
C) Governmental law 
D) Public law and private law,but not governmental law 
E) Public law,private law,and governmental law 
A) Public law 
B) Private law 
C) Governmental law 
D) Public law and private law,but not governmental law 
E) Public law,private law,and governmental law B

Question 4

Explain the function of administrative agencies and why they are necessary.List five independent agencies and five executive agencies.

Accepted Answer

Constitutions and statutes are not compl

Question 5

Laws comparing and studying the laws in different countries are known as contributory law.

Accepted Answer

A) True 
 B)False

Question 6

One of the most often-used guidelines for shaping the law is tradition,or custom,which is also called ________.

Accepted Answer

A) the historical school 
B) legal realism 
C) cost-benefit analysis 
D) identification with the vulnerable 
E) none of these 
A) the historical school 
B) legal realism 
C) cost-benefit analysis 
D) identification with the vulnerable 
E) none of these

Question 7

"Guaranteeing personal freedoms" is:

Accepted Answer

A) The exclusive purpose of the law. 
B) One of the numerous purposes fulfilled by the law. 
C) A purpose of criminal,but not civil,law. 
D) A purpose of civil,but not criminal,law. 
E) A cultural,but not legal,expectation. 
A) The exclusive purpose of the law. 
B) One of the numerous purposes fulfilled by the law. 
C) A purpose of criminal,but not civil,law. 
D) A purpose of civil,but not criminal,law. 
E) A cultural,but not legal,expectation.

Question 8

In 2009,Mississippi Valley Silica Company was ordered to pay a plaintiff $9 million because the court ruled that it sold sand to the plaintiff's employer with the knowledge that using the sand on a regular basis would expose a worker to a form of cancer,and Mississippi Valley did not alert those who bought the sand about the risk.The $9 million recovery is an example of a ________.

Accepted Answer

A) frivolous lawsuit 
B) jury nullification 
C) public law remedy 
D) civil law remedy 
E) criminal law remedy 
A) frivolous lawsuit 
B) jury nullification 
C) public law remedy 
D) civil law remedy 
E) criminal law remedy

Question 9

In which school of jurisprudence is the concept of stare decisis rooted?

Accepted Answer

A) The historical school 
B) Legal realism 
C) Cost-benefit analysis 
D) Legal positivism 
E) Cultural retrenchment 
A) The historical school 
B) Legal realism 
C) Cost-benefit analysis 
D) Legal positivism 
E) Cultural retrenchment

Question 10

Which of the following is not a purpose of the law as set forth in the text?

Accepted Answer

A) Encouraging taxation 
B) Serving as a moral guide by indicating minimal expectations of citizens and organizations 
C) Encouraging social justice 
D) Guaranteeing personal freedoms 
E) Providing order such that one can depend on a promise or an expectation of obligations 
A) Encouraging taxation 
B) Serving as a moral guide by indicating minimal expectations of citizens and organizations 
C) Encouraging social justice 
D) Guaranteeing personal freedoms 
E) Providing order such that one can depend on a promise or an expectation of obligations

Question 11

The ________ is a significant body of law for business activities.It includes sales laws and other regulations affecting commerce,such as bank deposits and collections,title documents,and warranties.

Accepted Answer

A) Federal Business Code 
B) Model Business Code 
C) Uniform Contracts Code 
D) Uniform Commercial Code 
E) International Commercial Code 
A) Federal Business Code 
B) Model Business Code 
C) Uniform Contracts Code 
D) Uniform Commercial Code 
E) International Commercial Code

Question 12

Which of the following is one of the numerous purposes fulfilled by the law?

Accepted Answer

A) Discouraging social justice 
B) Limiting personal freedoms 
C) Serving as a moral guide by indicating maximum expectations of citizens and organizations 
D) Providing order such that one can depend on a promise or an expectation of obligations 
E) Serving as a supplement to fighting 
A) Discouraging social justice 
B) Limiting personal freedoms 
C) Serving as a moral guide by indicating maximum expectations of citizens and organizations 
D) Providing order such that one can depend on a promise or an expectation of obligations 
E) Serving as a supplement to fighting

Question 13

International Expansion.Zach wants to expand his coffee business internationally - into Zeno,a small remote country in Africa.His best friend Zora asks him if he plans to hire legal counsel for the expansion.Zach replies,"Of course not.The U.S.has the strictest laws regarding contracts,employment,and business practices.So long as I'm legal here,I'm legal anywhere.Besides,I studied up on Zeno law ten years ago,and I know it all." Zach proceeds and lands in jail in the remote country of Zeno for violating recently passed laws protecting employees and mandating certain benefits.Authorities there claim that he sexually harassed an employee,failed to pay sufficient wages,and failed to give employees Zeno's mandated 12 weeks of vacation per year. Which of the following is true regarding Zach's legal problems in Zeno?

Accepted Answer

A) Zach can rely upon the federal statutory laws of the U.S.as a defense but not his U.S.Constitutional rights. 
B) Zach is entitled to all U.S.Constitutional rights in Zeno because he is a U.S.citizen,but he cannot rely on U.S.statutory rights. 
C) Zach can rely upon the federal statutory laws of the U.S.as a defense,and he is also entitled to all U.S.Constitutional rights in Zeno because he is a U.S.citizen. 
D) Zach must obey the laws of Zeno when operating a business in Zeno and cannot rely upon U.S.laws as a defense. 
E) Zach is subject to civil laws but not criminal laws of Zeno. 
A) Zach can rely upon the federal statutory laws of the U.S.as a defense but not his U.S.Constitutional rights. 
B) Zach is entitled to all U.S.Constitutional rights in Zeno because he is a U.S.citizen,but he cannot rely on U.S.statutory rights. 
C) Zach can rely upon the federal statutory laws of the U.S.as a defense,and he is also entitled to all U.S.Constitutional rights in Zeno because he is a U.S.citizen. 
D) Zach must obey the laws of Zeno when operating a business in Zeno and cannot rely upon U.S.laws as a defense. 
E) Zach is subject to civil laws but not criminal laws of Zeno.

Question 14

The legislative branch of government creates statutory law.

Accepted Answer

A) True 
 B)False

Question 15

Stare decisis is a legal principle that rulings made by lower courts are binding on higher courts in the same jurisdiction.

Accepted Answer

A) True 
 B)False

Question 16

Judges claim the power to issue executive orders on the basis of the Article II,Section 1 constitutional power to "take care that the laws be faithfully executed."

Accepted Answer

A) True 
 B)False

Question 17

The ________ is the supreme law of the land.

Accepted Answer

A) United States Constitution 
B) Declaration of Independence 
C) U)S.Code 
D) International Contracts Code 
E) Uniform Commercial Code 
A) United States Constitution 
B) Declaration of Independence 
C) U)S.Code 
D) International Contracts Code 
E) Uniform Commercial Code

Question 18

The Stolen Book.Betty tells Susan that Bob stole her business law book from her car.The next day Susan confronts Bob and slaps him for stealing her book.Bob has Susan arrested for slapping him.Susan sues Bob for damages in the amount of the book and for maliciously having her arrested.Claiming that she lied,Bob sues Betty for defamation.The action Bob has against Betty for defamation involves which of the following?

Accepted Answer

A) Criminal law 
B) Civil law 
C) Insider law 
D) Both criminal and civil law 
E) Administrative law 
A) Criminal law 
B) Civil law 
C) Insider law 
D) Both criminal and civil law 
E) Administrative law

Question 19

A decision from the New Jersey Supreme Court is not binding on a New York trial court,even if New York has no applicable law on the issue involved.

Accepted Answer

A) True 
 B)False

Question 20

Inattentive Driving.While cutting class and driving off campus to check on her new dress for the upcoming formal,Molly,a busy college student,is busy talking on her cell phone with her friend Sharon.Molly is trying to talk Sharon into going to the dance with her brother,who has a big crush on Sharon.Unfortunately for Molly,there is a statute in her state outlawing talking on a cell phone while operating a motor vehicle.Molly crashes into the side of Sam's new convertible when she looks down to pick up a can of soda she just dropped onto her new jeans.A police officer just down the street comes over to investigate.Molly explains to him that it was difficult to hold the cell phone in one hand,the soda in the other,and also drive.The officer was not impressed.Around that time Sam comes along.He is furious regarding the significant dent in his new car.Molly says she has insurance and that she will cover the whole incident.Sam says that is insufficient.The officer is annoyed because it is his lunch break.He tells Molly that she must obey the law and proceeds to write several citations to her.The law in Molly's state regulating cell phone usage would be classified as which of the following?

Accepted Answer

A) A statute 
B) A type of common law 
C) An executive order 
D) A uniform law 
E) A negative law 
A) A statute 
B) A type of common law 
C) An executive order 
D) A uniform law 
E) A negative law

Exam 1: An Introduction to the Fundamentals of Dynamic Business Law

The laws put forth by the legislative branch are referred to as:

Which of the following is not a commonly recognized classification of the law?

Which of the following involves disputes between private individuals or groups?

Explain the function of administrative agencies and why they are necessary.List five independent agencies and five executive agencies.

Laws comparing and studying the laws in different countries are known as contributory law.

One of the most often-used guidelines for shaping the law is tradition,or custom,which is also called ________.

"Guaranteeing personal freedoms" is:

In which school of jurisprudence is the concept of stare decisis rooted?

Which of the following is not a purpose of the law as set forth in the text?

The ________ is a significant body of law for business activities.It includes sales laws and other regulations affecting commerce,such as bank deposits and collections,title documents,and warranties.

Which of the following is one of the numerous purposes fulfilled by the law?

The legislative branch of government creates statutory law.

Stare decisis is a legal principle that rulings made by lower courts are binding on higher courts in the same jurisdiction.

Judges claim the power to issue executive orders on the basis of the Article II,Section 1 constitutional power to "take care that the laws be faithfully executed."

The ________ is the supreme law of the land.

A decision from the New Jersey Supreme Court is not binding on a New York trial court,even if New York has no applicable law on the issue involved.

Business Ethics and Social Responsibility

The Uslegal System and Alternative Dispute Resolution

Administrative Law

Constitutional Law

Criminal Law and Business

Tort Law

Real, Personal, and Intellectual Property

Introduction to Contracts and Agreement

Consideration

Capacity and Legality

Reality of Assent

Contracts in Writing and Third-Party Contracts

Discharge and Remedies

Formation and Performance of Sales and Lease Contracts

Sales and Lease Contracts: Performance, Warranties, and Remedies

Negotiable Instruments: Negotiability and Transferability

Holder in Due Course, Liability, and Defenses

Secured Transactions and Bankruptcy

Agency and Liability to Third Parties

Forms of Business Organization

Corporations: Formation and Organization

Securities Regulation

Employment and Discrimination Law

Consumer Law

Filters