Business Law Chapters
1–4 2026 | Study Guide,
Notes & Practice
Questions
|Graded A+ | Guaranteed
success|
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
,Laws set maximum standards of behavior. False
Laws govern interrelationships and rights. True
Aristotle Law is a form of order, and good law must necessarily mean good order
Oliver Wendell Holmes Jr Law embodies the stories of a nations development through many centuries
Blacks Law Dictionary A body of rules of action or conduct prescribed by the controlling authority and
having legal binding force
Sir William Blackstone That rule of action of which is prescribed by some superior and which the inferior is
bound to obey
Stare decisis is not used in a common law system. FALSE
Common law is valid now only if it is part of a statute. False
A statute that prohibits perjury (lying under oath) is a type true
of criminal law.
A statute that allows a victim to recover for damages from True
slander and libel (making a false statement that injures
someone's reputation) is a form of civil law.
A statute that prohibits practicing law without a license is a true
criminal law.
A statute that allows homeowners to recover from banks True
who fail to properly disclose all of the terms of a home loan
is a form of civil law.
Computer fraud and identity theft did not exist as crimes 35 Flexibility
years ago, but now there are specific criminal statutes that
cover those crimes. This change is an example of which
purpose of law?
In the U.S. v. Yates case, which of the following statements Whether Yates could be charged with destroying evidence of a crime
best describes what the court was deciding?
Which of the following statements best describes natural That we all have certain rights that cannot be taken away
law theory?
, "If you want to live with others, you have to do what they Oliver Wendell Holmes
tell you to stay alive." Which philosopher believes that this
statement represents the theory and purpose of law?
Only the federal government can create statutory law. False
If a statute carries a U.S.C. citation, then it is a uniform False
statute and a state law.
Executive orders govern the functions of the state False
government.
Federal administrative regulations are designed to carry True
out the laws passed by Congress.
Uniform laws are passed by some states so laws will be True
consistent across state lines.
Zoning laws are generally part of local laws and True
ordinances.
Administrative regulations are permitted at only the federal False
level.
Which of the following source of law cannot be violated by US Constitution
any of the others?
Rob is thinking of opening a mortgage brokerage to federal laws
compliment his family's real estate business. He has been
told that he needs a federal license to do so. Where should
he look to verify this?
Jane works nights and she is having trouble sleeping State administrative regulations or state laws
during the day because her neighbor is operating a vehicle
repair business in his garage. Which sources of law could
Jane consult to determine whether she can stop the car
repair business out of a residential home?
Lori Diehl has just been served a subpoena to appear in Federal legislative enactments (including federal statutes and administrative laws)
court with documents. The subpoena contains references
to 12 C.F.R. §226 and 15 U.S.C. §1513. Lori wants to
know what type of laws are at issue in the case in which
she has to testify. Help her by selecting the sources of law
for these citations.
what was the role of the court when it issued the decision Interpreting federal statues
in United States v. Yates?
Anna would like to incorporate her plumbing business, Arizona Statue
which is located in Flagstaff, Arizona. Where can she find
out the requirements for incorporation?
1–4 2026 | Study Guide,
Notes & Practice
Questions
|Graded A+ | Guaranteed
success|
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
,Laws set maximum standards of behavior. False
Laws govern interrelationships and rights. True
Aristotle Law is a form of order, and good law must necessarily mean good order
Oliver Wendell Holmes Jr Law embodies the stories of a nations development through many centuries
Blacks Law Dictionary A body of rules of action or conduct prescribed by the controlling authority and
having legal binding force
Sir William Blackstone That rule of action of which is prescribed by some superior and which the inferior is
bound to obey
Stare decisis is not used in a common law system. FALSE
Common law is valid now only if it is part of a statute. False
A statute that prohibits perjury (lying under oath) is a type true
of criminal law.
A statute that allows a victim to recover for damages from True
slander and libel (making a false statement that injures
someone's reputation) is a form of civil law.
A statute that prohibits practicing law without a license is a true
criminal law.
A statute that allows homeowners to recover from banks True
who fail to properly disclose all of the terms of a home loan
is a form of civil law.
Computer fraud and identity theft did not exist as crimes 35 Flexibility
years ago, but now there are specific criminal statutes that
cover those crimes. This change is an example of which
purpose of law?
In the U.S. v. Yates case, which of the following statements Whether Yates could be charged with destroying evidence of a crime
best describes what the court was deciding?
Which of the following statements best describes natural That we all have certain rights that cannot be taken away
law theory?
, "If you want to live with others, you have to do what they Oliver Wendell Holmes
tell you to stay alive." Which philosopher believes that this
statement represents the theory and purpose of law?
Only the federal government can create statutory law. False
If a statute carries a U.S.C. citation, then it is a uniform False
statute and a state law.
Executive orders govern the functions of the state False
government.
Federal administrative regulations are designed to carry True
out the laws passed by Congress.
Uniform laws are passed by some states so laws will be True
consistent across state lines.
Zoning laws are generally part of local laws and True
ordinances.
Administrative regulations are permitted at only the federal False
level.
Which of the following source of law cannot be violated by US Constitution
any of the others?
Rob is thinking of opening a mortgage brokerage to federal laws
compliment his family's real estate business. He has been
told that he needs a federal license to do so. Where should
he look to verify this?
Jane works nights and she is having trouble sleeping State administrative regulations or state laws
during the day because her neighbor is operating a vehicle
repair business in his garage. Which sources of law could
Jane consult to determine whether she can stop the car
repair business out of a residential home?
Lori Diehl has just been served a subpoena to appear in Federal legislative enactments (including federal statutes and administrative laws)
court with documents. The subpoena contains references
to 12 C.F.R. §226 and 15 U.S.C. §1513. Lori wants to
know what type of laws are at issue in the case in which
she has to testify. Help her by selecting the sources of law
for these citations.
what was the role of the court when it issued the decision Interpreting federal statues
in United States v. Yates?
Anna would like to incorporate her plumbing business, Arizona Statue
which is located in Flagstaff, Arizona. Where can she find
out the requirements for incorporation?
