Question 1

What is the North American Free Trade Agreement?

Accepted Answer

A) A trade agreement with 150 countries to establish the conditions of global trade. 
B) A U.S.law which protects citizens of the United States from being required to follow rules of commerce in foreign countries. 
C) An agreement with the World Trade Organization which allows the WTO to adjudicate trade disputes. 
D) A U.S.law which mandates citizens of the United States must follow rules of commerce in foreign countries. 
E) A trade agreement with Canada and Mexico to help establish the conditions of global trade. 
A) A trade agreement with 150 countries to establish the conditions of global trade. 
B) A U.S.law which protects citizens of the United States from being required to follow rules of commerce in foreign countries. 
C) An agreement with the World Trade Organization which allows the WTO to adjudicate trade disputes. 
D) A U.S.law which mandates citizens of the United States must follow rules of commerce in foreign countries. 
E) A trade agreement with Canada and Mexico to help establish the conditions of global trade.

Question 2

When courts overturn precedent and create new precedent,they are obeying the principle of stare decisis.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following refers to the ability to understand the structure of what someone is saying and then apply a set of criteria to evaluate its worth?

Accepted Answer

A) Traditional lawyer skills 
B) Absolute skills 
C) Reviewability skills 
D) Cost-benefit skills 
E) Critical-thinking skills 
A) Traditional lawyer skills 
B) Absolute skills 
C) Reviewability skills 
D) Cost-benefit skills 
E) Critical-thinking skills

Question 4

Cyberlaw is based primarily on existing laws.

Accepted Answer

A) True 
 B)False

Question 5

Maria's strategy to try to change the law through petitioning city council,which others have done in the past,is rooted in which of the following?

Accepted Answer

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

Question 6

After a court action brought by Mary,Mary was awarded $1,000 in damages from Stanley because she proved by a preponderance of the evidence that Stanley damaged her bicycle.What type of law applied to Mary's case that resulted in her being awarded $1,000?

Accepted Answer

A) Positive 
B) Civil 
C) Natural 
D) Criminal 
E) Procedur al 
A) Positive 
B) Civil 
C) Natural 
D) Criminal 
E) Procedur al

Question 7

A decision made in a state supreme court is binding on all lower courts throughout the United States.

Accepted Answer

A) True 
 B)False

Question 8

The rules and regulations put forth by legislatures are referred to as ________ law.

Accepted Answer

A) Proper 
B) Administrative 
C) Statutory 
D) Secondary 
E) Uniform 
A) Proper 
B) Administrative 
C) Statutory 
D) Secondary 
E) Uniform

Question 9

Criminal law lays out the rights and responsibilities implied in relationships between persons.

Accepted Answer

A) True 
 B)False

Question 10

If Maria decides to follow all laws and regulations,even if she does not agree with them,this approach is rooted in what?

Accepted Answer

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

Question 11

If someone has failed to live up to a promise made to a business organization,the business organization should:

Accepted Answer

A) Seek a legal remedy within the courts 
B) Ask the lawmakers to impose a punishment upon the violation 
C) Ask lawmakers and the executive branch to impose consequences 
D) Publicly shame the violator for breaking his promise 
E) Turn to the executive branch to impose legal penalties 
A) Seek a legal remedy within the courts 
B) Ask the lawmakers to impose a punishment upon the violation 
C) Ask lawmakers and the executive branch to impose consequences 
D) Publicly shame the violator for breaking his promise 
E) Turn to the executive branch to impose legal penalties

Question 12

An example of pursuing change through identification with the vulnerable would involve:

Accepted Answer

A) Arguing for a stronger law to protect abused children because other jurisdictions have stronger laws. 
B) Arguing that current laws on child abuse should not be changed because of the tradition behind the laws 
C) Arguing for stronger laws to protect abused children because abused children cannot protect themselves 
D) Arguing for a stronger law to protect abused children because those who abuse children are not obeying duly authorized laws on child protection. 
E) Arguing for a stronger law to protect abused children because treating child victims is too costly for the public 
A) Arguing for a stronger law to protect abused children because other jurisdictions have stronger laws. 
B) Arguing that current laws on child abuse should not be changed because of the tradition behind the laws 
C) Arguing for stronger laws to protect abused children because abused children cannot protect themselves 
D) Arguing for a stronger law to protect abused children because those who abuse children are not obeying duly authorized laws on child protection. 
E) Arguing for a stronger law to protect abused children because treating child victims is too costly for the public

Question 13

The decision of a state supreme court is binding on a lower court that is located in the same state.

Accepted Answer

A) True 
 B)False

Question 14

Regarding Ryan's legal problems in Winland,which is a true statement?

Accepted Answer

A) Ryan must obey the laws of Winland when operating a business in Winland and cannot rely upon U.S.laws as a defense. 
B) Ryan can rely upon the federal statutory laws of the U.S.as a defense.Additionally,Ryan is entitled to all U.S.Constitutional rights in Winland because he is a U.S.citizen. 
C) Ryan can rely upon the federal statutory laws of the U.S.as a defense but not the U.S.Constitution. 
D) Ryan can rely on U.S.laws as a defense only if he obtains an opinion from the office of the U.S.attorney that his operations in the U.S.have strictly complied with the law. 
E) Ryan is entitled to all U.S.Constitutional rights in Winland because he is a U.S.citizen,but he cannot rely on statutory law. 
A) Ryan must obey the laws of Winland when operating a business in Winland and cannot rely upon U.S.laws as a defense. 
B) Ryan can rely upon the federal statutory laws of the U.S.as a defense.Additionally,Ryan is entitled to all U.S.Constitutional rights in Winland because he is a U.S.citizen. 
C) Ryan can rely upon the federal statutory laws of the U.S.as a defense but not the U.S.Constitution. 
D) Ryan can rely on U.S.laws as a defense only if he obtains an opinion from the office of the U.S.attorney that his operations in the U.S.have strictly complied with the law. 
E) Ryan is entitled to all U.S.Constitutional rights in Winland because he is a U.S.citizen,but he cannot rely on statutory law.

Question 15

What type of law are municipal ordinances?

Accepted Answer

A) Executive orders 
B) Statutes 
C) Administrative law 
D) Local ordinances 
E) Common law 
A) Executive orders 
B) Statutes 
C) Administrative law 
D) Local ordinances 
E) Common law

Question 16

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

Accepted Answer

A) Positivism 
B) Cultural reenactment 
C) Legal realism 
D) The historical school 
E) The cost-benefit analysis school 
A) Positivism 
B) Cultural reenactment 
C) Legal realism 
D) The historical school 
E) The cost-benefit analysis school

Question 17

Which of the following contains summaries of common law rules in a particular area of the law?

Accepted Answer

A) Executive Proclamations 
B) U)S.Code 
C) Restatements of the Law 
D) State Administrative Codes 
E) Case Reporters 
A) Executive Proclamations 
B) U)S.Code 
C) Restatements of the Law 
D) State Administrative Codes 
E) Case Reporters

Question 18

Which of the following is true regarding administrative agencies?

Accepted Answer

A) There are state administrative agencies,but no federal administrative agencies. 
B) Administrative agencies exist only at the local county level. 
C) Administrative agencies exist at the federal,state,and local level. 
D) There are state and federal administrative agencies,but no local administrative agencies. 
E) There are federal administrative agencies,but no state administrative agencies. 
A) There are state administrative agencies,but no federal administrative agencies. 
B) Administrative agencies exist only at the local county level. 
C) Administrative agencies exist at the federal,state,and local level. 
D) There are state and federal administrative agencies,but no local administrative agencies. 
E) There are federal administrative agencies,but no state administrative agencies.

Question 19

Statutory law is the supreme law of the land and the foundation for all laws in the United States.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) A state legislature is not required to adopt the uniform statute;but if the state legislature decides to go forward with adoption,all portions of the statute must be adopted. 
B) The uniform statute automatically goes into effect without any action by state legislatures. 
C) A state legislature can ignore the proposed uniform law,adopt it in full,or adopt it in part. 
D) All states must adopt the uniform statute within one year. 
E) All states must adopt the uniform statute within six months. 
A) A state legislature is not required to adopt the uniform statute;but if the state legislature decides to go forward with adoption,all portions of the statute must be adopted. 
B) The uniform statute automatically goes into effect without any action by state legislatures. 
C) A state legislature can ignore the proposed uniform law,adopt it in full,or adopt it in part. 
D) All states must adopt the uniform statute within one year. 
E) All states must adopt the uniform statute within six months.

Exam 1: An Introduction to Dynamic Business Law

What is the North American Free Trade Agreement?

When courts overturn precedent and create new precedent,they are obeying the principle of stare decisis.

Which of the following refers to the ability to understand the structure of what someone is saying and then apply a set of criteria to evaluate its worth?

Cyberlaw is based primarily on existing laws.

Maria's strategy to try to change the law through petitioning city council,which others have done in the past,is rooted in which of the following?

After a court action brought by Mary,Mary was awarded $1,000 in damages from Stanley because she proved by a preponderance of the evidence that Stanley damaged her bicycle.What type of law applied to Mary's case that resulted in her being awarded $1,000?

A decision made in a state supreme court is binding on all lower courts throughout the United States.

The rules and regulations put forth by legislatures are referred to as ________ law.

Criminal law lays out the rights and responsibilities implied in relationships between persons.

If Maria decides to follow all laws and regulations,even if she does not agree with them,this approach is rooted in what?

If someone has failed to live up to a promise made to a business organization,the business organization should:

An example of pursuing change through identification with the vulnerable would involve:

The decision of a state supreme court is binding on a lower court that is located in the same state.

Regarding Ryan's legal problems in Winland,which is a true statement?

What type of law are municipal ordinances?

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

Which of the following contains summaries of common law rules in a particular area of the law?

Which of the following is true regarding administrative agencies?

Statutory law is the supreme law of the land and the foundation for all laws in the United States.

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

Business Ethics

The Uslegal System

Alternative Dispute Resolution

Constitutional Principles

International and Comparative Law

Crime and the Business Community

Tort Law

Negligence and Strict Liability

Product Liability

Liability of Accountants and Other Professionals

Intellectual Property

Introduction to Contracts

Agreement

Consideration

Capacity and Legality

Legal Assent

Contracts in Writing

Third-Party Rights to Contracts

Discharge and Remedies

Introduction to Sales and Lease Contracts

Title,risk of Loss,and Insurable Interest

Performance and Obligations Under Sales and Leases

Remedies for Breach of Sales and Lease Contracts

Warranties

Negotiable Instruments: Negotiability and Transferability

Negotiation, holder in Due Course, and Defenses

Liability, defenses, and Discharge

Checks and Electronic Fund Transfers

Secured Transactions

Other Creditors Remedies and Suretyship

Bankruptcy and Reorganization

Agency Formation and Duties

Liability to Third Parties and Termination

Forms of Business Organization

Partnerships: Nature, formation, and Operation

Partnerships: Termination and Limited Partnerships

Corporations: Formation and Financing

Corporations: Directors, officers, and Shareholders

Corporations: Mergers, consolidations, terminations

Corporations: Securities and Investor Protection

Employment and Labor Law

Employment Discrimination

Administrative Law

Consumer Law

Environmental Law

Antitrust Law

The Nature of Property, personal Property, and Bailments

Real Property

Landlord-Tenant Law

Insurance Law

Wills and Trusts

Filters