MGMT 311 (TAMU) Exam 1 Questions With
Correct Answers
law - CORRECT ANSWER✔✔-consists of enforceable rules governing relationships
| | | | | | | | |
among individuals and between individuals and their society.
| | | | | | |
4 sources of law - CORRECT ANSWER✔✔-constitutions, statutory law,
| | | | | | | | |
administrative law, common law | | |
constitutions - CORRECT ANSWER✔✔-establishes organization, powers, and limits
| | | | | | |
of governments.
| | |
SUPREME LAW OF THE LAND | | | |
10th amendment - CORRECT ANSWER✔✔-reserves all powers not granted to
| | | | | | | | | |
federal government to states.
| | |
**we are mostly governed by the state we live in**
| | | | | | | | |
statutory law - CORRECT ANSWER✔✔-created by the U.S. Congress or state
| | | | | | | | | | |
legislatures
"S"tatuatory = "S"pecial people create it
| | | | |
,state constitutions - CORRECT ANSWER✔✔-highest form of law within borders of
| | | | | | | | | | |
that state|
federal statues - CORRECT ANSWER✔✔-laws passed that apply to ALL states
| | | | | | | | | |
state statutes - CORRECT ANSWER✔✔-laws passed that only apply WITHIN that
| | | | | | | | | | |
state
municipal/county government - CORRECT ANSWER✔✔-enacts ordinances, which | | | | | | |
govern matters not covered by state or federal law.
| | | | | | | |
uniform laws - CORRECT ANSWER✔✔-A model law developed by the National
| | | | | | | | | | |
Conference of Commissioners on Uniform State Laws for the states to consider
| | | | | | | | | | | |
enacting into statute | |
uniform laws - CORRECT ANSWER✔✔-a state may adapt all of part of this type of
| | | | | | | | | | | | | | |
law as written or rewrite it
| | | | |
UCC - CORRECT ANSWER✔✔-Uniform Commercial Code
| | | | |
most accepted uniform law; adopted in all 50 states
| | | | | | | |
administrative law - CORRECT ANSWER✔✔-The body of law created by
| | | | | | | | | |
administrative agencies (in the form of rules, regulations, orders, and decisions)
| | | | | | | | | | |
in order to carry out their duties and responsibilities.
| | | | | | | |
, executive agencies - CORRECT ANSWER✔✔-subject to the authority of the
| | | | | | | | | |
president, who has the power to appoint and remove their officers
| | | | | | | | | |
Ex) Federal Drug Administration
| | |
independent regulatory agencies - CORRECT ANSWER✔✔-Federal regulatory
| | | | | | |
agencies that are independent, thus not fully under the power of the president.
| | | | | | | | | | | | |
Serve a fixed term and officers do not change with the change in presidency.
| | | | | | | | | | | | |
Ex. Federal Trade Commission, Securities and Exchange Commission.
| | | | | | |
Common (Case) Law - CORRECT ANSWER✔✔-a body of unwritten laws based on
| | | | | | | | | | | |
legal precedents and customs established by the courts
| | | | | | |
Courts of LAW and Remedies at LAW - CORRECT ANSWER✔✔-a court of law is
| | | | | | | | | | | | | |
limited to awarding payments of money or property as compensation
| | | | | | | | |
Special Damages - CORRECT ANSWER✔✔-A form of compensatory damages that
| | | | | | | | | |
awards a sum of money for specific, identifiable expenses associated with the
| | | | | | | | | | | |
injured person's loss, such as medical expenses or lost wages.
| | | | | | | | |
out of pocket, quantifiable losses
| | | |
loss of time, money or property damages
| | | | | |
Correct Answers
law - CORRECT ANSWER✔✔-consists of enforceable rules governing relationships
| | | | | | | | |
among individuals and between individuals and their society.
| | | | | | |
4 sources of law - CORRECT ANSWER✔✔-constitutions, statutory law,
| | | | | | | | |
administrative law, common law | | |
constitutions - CORRECT ANSWER✔✔-establishes organization, powers, and limits
| | | | | | |
of governments.
| | |
SUPREME LAW OF THE LAND | | | |
10th amendment - CORRECT ANSWER✔✔-reserves all powers not granted to
| | | | | | | | | |
federal government to states.
| | |
**we are mostly governed by the state we live in**
| | | | | | | | |
statutory law - CORRECT ANSWER✔✔-created by the U.S. Congress or state
| | | | | | | | | | |
legislatures
"S"tatuatory = "S"pecial people create it
| | | | |
,state constitutions - CORRECT ANSWER✔✔-highest form of law within borders of
| | | | | | | | | | |
that state|
federal statues - CORRECT ANSWER✔✔-laws passed that apply to ALL states
| | | | | | | | | |
state statutes - CORRECT ANSWER✔✔-laws passed that only apply WITHIN that
| | | | | | | | | | |
state
municipal/county government - CORRECT ANSWER✔✔-enacts ordinances, which | | | | | | |
govern matters not covered by state or federal law.
| | | | | | | |
uniform laws - CORRECT ANSWER✔✔-A model law developed by the National
| | | | | | | | | | |
Conference of Commissioners on Uniform State Laws for the states to consider
| | | | | | | | | | | |
enacting into statute | |
uniform laws - CORRECT ANSWER✔✔-a state may adapt all of part of this type of
| | | | | | | | | | | | | | |
law as written or rewrite it
| | | | |
UCC - CORRECT ANSWER✔✔-Uniform Commercial Code
| | | | |
most accepted uniform law; adopted in all 50 states
| | | | | | | |
administrative law - CORRECT ANSWER✔✔-The body of law created by
| | | | | | | | | |
administrative agencies (in the form of rules, regulations, orders, and decisions)
| | | | | | | | | | |
in order to carry out their duties and responsibilities.
| | | | | | | |
, executive agencies - CORRECT ANSWER✔✔-subject to the authority of the
| | | | | | | | | |
president, who has the power to appoint and remove their officers
| | | | | | | | | |
Ex) Federal Drug Administration
| | |
independent regulatory agencies - CORRECT ANSWER✔✔-Federal regulatory
| | | | | | |
agencies that are independent, thus not fully under the power of the president.
| | | | | | | | | | | | |
Serve a fixed term and officers do not change with the change in presidency.
| | | | | | | | | | | | |
Ex. Federal Trade Commission, Securities and Exchange Commission.
| | | | | | |
Common (Case) Law - CORRECT ANSWER✔✔-a body of unwritten laws based on
| | | | | | | | | | | |
legal precedents and customs established by the courts
| | | | | | |
Courts of LAW and Remedies at LAW - CORRECT ANSWER✔✔-a court of law is
| | | | | | | | | | | | | |
limited to awarding payments of money or property as compensation
| | | | | | | | |
Special Damages - CORRECT ANSWER✔✔-A form of compensatory damages that
| | | | | | | | | |
awards a sum of money for specific, identifiable expenses associated with the
| | | | | | | | | | | |
injured person's loss, such as medical expenses or lost wages.
| | | | | | | | |
out of pocket, quantifiable losses
| | | |
loss of time, money or property damages
| | | | | |
