legal 2700 test 1 study guide UPDATED ACTUAL
Questions and CORRECT Answers
, 3 4
Law A formal social force backed by enforcement
Rule of Law Laws apply equally to everyone; laws must be
clear, fair, stable, accessible, and enforced through
fair processes with timely justice
Importance of Rule of Law Allows people to rely on others to obey the law
(Individuals)
Importance of Rule of Law Ensures people and businesses are treated equally
(Businesses)
Property Something that is owned; ownership
Ownership The right to exclude others using public authority
Real Property Immovable property such as land and buildings
Personal Property Movable property such as cars and boats
Tangible Property Physical objects that are not real property
Intangible Property Non-physical property evidenced by legal forms
(stocks, copyrights)
Common Law Judge-made law emphasizing court decisions
Questions and CORRECT Answers
, 3 4
Law A formal social force backed by enforcement
Rule of Law Laws apply equally to everyone; laws must be
clear, fair, stable, accessible, and enforced through
fair processes with timely justice
Importance of Rule of Law Allows people to rely on others to obey the law
(Individuals)
Importance of Rule of Law Ensures people and businesses are treated equally
(Businesses)
Property Something that is owned; ownership
Ownership The right to exclude others using public authority
Real Property Immovable property such as land and buildings
Personal Property Movable property such as cars and boats
Tangible Property Physical objects that are not real property
Intangible Property Non-physical property evidenced by legal forms
(stocks, copyrights)
Common Law Judge-made law emphasizing court decisions
