Question 1

The key to flexibility in a legal system is flexibility on the level at which rules and principles are _____.

Accepted Answer

A)  applied 
B)  made 
C)  broken 
D)  needed 
A)  applied 
B)  made 
C)  broken 
D)  needed

Question 2

Which of the following is NOT one of the requirements of a legal contract

Accepted Answer

A)  Mutual agreement 
B)  Both parties must possess legal capacity to assume contractual duties 
C)  Each agrees not to cause harm or unreasonable risk to the other party 
D)  Each must exchange something of legal value 
A)  Mutual agreement 
B)  Both parties must possess legal capacity to assume contractual duties 
C)  Each agrees not to cause harm or unreasonable risk to the other party 
D)  Each must exchange something of legal value

Question 3

An employee's actions fall within the scope of his employment if _____.

Accepted Answer

A)  they are performed in order to fulfill contractual duties owed to his employer 
B)  the employer is in some control, directly or indirectly, over the employee's actions 
C)  the employer has contractual capacity 
D)  both a and b 
A)  they are performed in order to fulfill contractual duties owed to his employer 
B)  the employer is in some control, directly or indirectly, over the employee's actions 
C)  the employer has contractual capacity 
D)  both a and b

Question 4

Which body of law results from judicial interpretations of statutory and other forms of law

Accepted Answer

A)  Tort law 
B)  Criminal law 
C)  Civil law 
D)  Case law 
A)  Tort law 
B)  Criminal law 
C)  Civil law 
D)  Case law

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Laws are designed to serve a general function that is the promotion of justice for businesses.

Accepted Answer

A) True 
 B)False

Question 7

Under the rule of law, a legal system can achieve a reasonable degree of fairness only if it guarantees equal treatment of all members of society.

Accepted Answer

A) True 
 B)False

Question 8

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) _____.

Accepted Answer

A)  express warranty 
B)  implied warranty 
C)  product warranty 
D)  consumer warranty 
A)  express warranty 
B)  implied warranty 
C)  product warranty 
D)  consumer warranty

The key to flexibility in a legal system is flexibility on the level at which rules and principles are _____.

Which of the following is NOT one of the requirements of a legal contract

An employee's actions fall within the scope of his employment if _____.

Which body of law results from judicial interpretations of statutory and other forms of law

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

Laws are designed to serve a general function that is the promotion of justice for businesses.

Under the rule of law, a legal system can achieve a reasonable degree of fairness only if it guarantees equal treatment of all members of society.

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) _____.

The Foundations of Business

Business Ethics and Social Responsibility

Business in a Global Environment

Selecting a Form of Business Ownership

The Challenges of Starting a Business

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Teamwork and Communications

Marketing: Providing Value to Customers

Product Design and Development

Operations Management in Manufacturing and Service Industries

The Role of Accounting in Business

Managing Financial Resources

Personal Finances

Managing Information and Technology

Filters

Exam 16: The Legal and Regulatory Environment of Business

The key to flexibility in a legal system is flexibility on the level at which rules and principles are _____.

Which of the following is NOT one of the requirements of a legal contract

An employee's actions fall within the scope of his employment if _____.

Which body of law results from judicial interpretations of statutory and other forms of law

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

Laws are designed to serve a general function that is the promotion of justice for businesses.

Under the rule of law, a legal system can achieve a reasonable degree of fairness only if it guarantees equal treatment of all members of society.

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) _____.

The Foundations of Business

Business Ethics and Social Responsibility

Business in a Global Environment

Selecting a Form of Business Ownership

The Challenges of Starting a Business

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Teamwork and Communications

Marketing: Providing Value to Customers

Product Design and Development

Operations Management in Manufacturing and Service Industries

The Role of Accounting in Business

Managing Financial Resources

Personal Finances

Managing Information and Technology

Filters