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

How many of the functional areas of business sit on a foundation of business law?

Business law consists of the enforceable rules of conduct that govern commercial relationships.

When courts rely on precedent,they are obeying ________.

Judge Susie Justice,who is newly appointed to the bench,is presented with a question of law involving a cat named Chester who scratched a neighbor's antique jalopy.The neighbor,George,demands justice in the form of full payment from Chester's owner,Bill,and also requests that Chester be shipped to the local animal shelter.Bill says that he should not have to pay anything because Chester had never scratched before,that Chester should be allowed to stay in the neighborhood,and that he should be reimbursed for his legal fees by George who is a grump and never should have brought the lawsuit.Judge Justice is perplexed and wants to make a good decision since she is new to the bench.Describe how the judge should go about reaching a decision.Discuss in your answer the impact of cases from other jurisdictions assuming there is no relevant law in Judge Justice's jurisdiction.Also,assuming there is relevant law in this jurisdiction,discuss the applicable legal standard the judge should apply if she finds a relevant statute that conflicts with earlier case law.

The U.S.Constitution is the foundation for approximately one-half of all laws in the United States.

The cost-benefit analysis approach to legal change is tied closely to the pursuit of ________.

Many market transactions occur without legal guidelines.

Judicial decisions are law even if the legislative branch should revoke them later by enacting new statutory law.

A case that has been used in accordance with stare decisis as a binding precedent is ________,which abolished discriminatory policies for individuals of different racial backgrounds.

Define "stare decisis," discuss when it occurs in the legal system,and explain why stare decisis is important to businesses and individuals.

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 defense that he thought he knew the law of Zeno because he had studied it some years before and that the laws under which he was arrested were new?

A majority of citizens in a democracy can agree to permit certain authorities to make and enforce rules describing what behavior is permitted and encouraged in their community.These rules are what we refer to as ________.

What are local legislative laws called?

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.Which of the following is true regarding Molly's predicament?

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. The type of law involved in comparing laws between the U.S.and Zeno is ________.

If a computer store dumps waste behind its building in violation of local,state,or federal environmental regulations,the resulting dispute focuses on ________ law.

________ consists of the enforceable rules of conduct that govern commercial relationships.

To the Dogs.Alice loves all animals and is starting a new grooming business for dogs.She believes that animals are very important and plans to exceed any applicable regulations regarding cleanliness and health standards.Alice thinks some local regulations make no sense.For example,there is a local ordinance that all dogs must be kept on a leash at all times when not in a fenced area.Although Alice lives on a large lot with plenty of room for dogs to run free,she plans to obey the leash regulation and all others.She is aware,however,that members of the community have had success in changing local regulations by petitioning the city council.Alice plans to proceed in that manner to attempt a change in the leash law.Alice's plan to seek change through following what others have done in the past by petitioning city council is rooted in which of the following?

When the organization in charge of proposing uniform laws proposes a statute,which of the following is true?

The United States Constitution and ________ establish the fundamental principles and rules by which the United States and the several states are governed.