BUSINESS LAW EXAM 1
(CHAPTERS 1-5 AND ETHICS)
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This Exam contains: Business Law Exam 1
✓ (Chapters 1-5 and Ethics)
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,Question 1
Business Law
Correct Answer
Consists of the enforceable rules of conduct that govern relationships
Question 2
Purposes of Law
Correct Answer
-Providing order such that one can depend on a promise or an expectation of obligations
-Serving as an alternative to fighting
-Facilitating a sense that change is possible
-Encouraging social justice
-Guaranteeing personal freedoms
-Serving as a moral guide by indicating minimal expectations of citizens and organizations
Question 3
Classifications of Law
Correct Answer
-Private Law
-Public Law
-Civil Law
-Criminal Law
, Question 4
Private Law
Correct Answer
-Involves disputes between private individuals or groups
Ex: Individuals sickened by salamonella in Con-Agra peanut butter sue for damages
Question 5
Public Law
Correct Answer
-Involves disputes between private individuals or groups and their government
Ex: Food and Drug Administration brings an action against Con-Agra for selling tainted food in
violation of the Food and Drug Act
Question 6
Civil Law
Correct Answer
-Involves the rights and responsibilities involved in relationships between persons and between
persons and their government
Ex: One business sues for breach of a contract to pay for work performed for another business
Question 7
Criminal Law
Correct Answer
-Involves incidents in which someone commits an act against the public as a whole
Ex: An accountant materially falsifies a financial statement provided in a securities filing to the
securities and exchange commission
(CHAPTERS 1-5 AND ETHICS)
70+ (Latest 2025-2026 Edition) 100% Verified Q&A + Answer Key
Solutions
100% Guarantee Pass
This Exam contains: Business Law Exam 1
✓ (Chapters 1-5 and Ethics)
✓ 100% Accurate Questions and Answers
✓ 100% Guarantee Pass - Verified by Experts
✓ Each Question Includes The Correct Answer
✓ Expert-Verified
,Question 1
Business Law
Correct Answer
Consists of the enforceable rules of conduct that govern relationships
Question 2
Purposes of Law
Correct Answer
-Providing order such that one can depend on a promise or an expectation of obligations
-Serving as an alternative to fighting
-Facilitating a sense that change is possible
-Encouraging social justice
-Guaranteeing personal freedoms
-Serving as a moral guide by indicating minimal expectations of citizens and organizations
Question 3
Classifications of Law
Correct Answer
-Private Law
-Public Law
-Civil Law
-Criminal Law
, Question 4
Private Law
Correct Answer
-Involves disputes between private individuals or groups
Ex: Individuals sickened by salamonella in Con-Agra peanut butter sue for damages
Question 5
Public Law
Correct Answer
-Involves disputes between private individuals or groups and their government
Ex: Food and Drug Administration brings an action against Con-Agra for selling tainted food in
violation of the Food and Drug Act
Question 6
Civil Law
Correct Answer
-Involves the rights and responsibilities involved in relationships between persons and between
persons and their government
Ex: One business sues for breach of a contract to pay for work performed for another business
Question 7
Criminal Law
Correct Answer
-Involves incidents in which someone commits an act against the public as a whole
Ex: An accountant materially falsifies a financial statement provided in a securities filing to the
securities and exchange commission
