Exam 1: An Introduction to Dynamic Business Law

Assume the Securities and Exchange Commission prosecutes someone for insider trading. This prosecution is an example of _____ law.

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 the ______.

The group that urges states to enact model laws to provide greater uniformity of law is called the ______.

Which type of law involves incidents in which someone commits an act against the public as a unit?

"International Expansion." Zach wants to expand his coffee business internationally - into Zeno, a small remote country. He moves there temporarily in order to oversee operations. 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 in the world. So long as I'm legal in the U.S., 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 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 paid vacation per year. -Which of the following is true regarding Zach's legal problems in Zeno?

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

Another name for case law is common law.

List the purposes of the law and discuss why these purposes are necessary for an ordered society.

List and discuss the five factors, discussed in the text, suggested as a structure for critical thinking in reviewing case law.

Constitutions and statutes are complete in the sense of covering the detailed rules that affect government and business relations.

When courts rely on precedent, they are obeying ______.

"Inattentive Driving." Molly, a first year law student, decided to skip class and drive off campus to check on her new dress for the upcoming school dance. While driving, Molly is busy talking on her cell phone with her friend Sharon to convince her to going to the dance with Molly's 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; but Molly says that under case precedent, that is his only remedy. The officer is annoyed because it is his lunch break. He tells Molly that she must obey duly authorized law, and proceeds to write several citations to her. -Which of the following is true regarding Molly's predicament?

Public law controls disputes between private individuals or between groups and their government.

Assume a restaurant chain is forced to pay damages for breach of contract to a supplier. What type of law is involved?

"Inattentive Driving." Molly, a first year law student, decided to skip class and drive off campus to check on her new dress for the upcoming school dance. While driving, Molly is busy talking on her cell phone with her friend Sharon to convince her to going to the dance with Molly's 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; but Molly says that under case precedent, that is his only remedy. The officer is annoyed because it is his lunch break. He tells Molly that she must obey duly authorized law, and proceeds to write several citations to her. -Which type of law is involved in the above situation considering Molly's interaction with both the officer and Sam?

"Inattentive Driving." Molly, a first year law student, decided to skip class and drive off campus to check on her new dress for the upcoming school dance. While driving, Molly is busy talking on her cell phone with her friend Sharon to convince her to going to the dance with Molly's 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; but Molly says that under case precedent, that is his only remedy. The officer is annoyed because it is his lunch break. He tells Molly that she must obey duly authorized law, and proceeds to write several citations to her. -The officer's reference to the need for Molly to obey duly authorized law is a reference to which of the following?

Which of the following is reported in the Federal Reporter?

The term ______ involves the use of past decisions to guide future decisions.

"Inattentive Driving." Molly, a first year law student, decided to skip class and drive off campus to check on her new dress for the upcoming school dance. While driving, Molly is busy talking on her cell phone with her friend Sharon to convince her to going to the dance with Molly's 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; but Molly says that under case precedent, that is his only remedy. The officer is annoyed because it is his lunch break. He tells Molly that she must obey duly authorized 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?

Case law can be revoked by ______.