BUSA 2106 CHAPTER 1 QUESTIONS AND ANSWERS
Which of the following statements is true of the rule of law? - CORRECT ANSWER✅✅Rule-of-law
nations adopt laws supporting the private market because it is in everyone's interest, including the
lawmakers'.
________ property is an ownership fence, which applies to resources like land that more than one
individual owns jointly. - CORRECT ANSWER✅✅Common
In the context of property, contract law________. - CORRECT ANSWER✅✅enables an owner to
exchange resources, especially at a future date
The law that provides protection to the owners of a business entity from the managers who run it for
them is called ________. - CORRECT ANSWER✅✅corporate governance
The ideas and philosophies that explain the origin of law and its justification are called ________. -
CORRECT ANSWER✅✅jurisprudence
________ law jurisprudence believes that law is simply the commands of the state backed up by force
and punishments. - CORRECT ANSWER✅✅Positive
________ jurisprudence supports the idea that law can and should change to meet new developments
in society. - CORRECT ANSWER✅✅Sociological
Kate Ace is a luxury purse brand that has its own distinctive logo. The company recently discovered that
another retailer has been selling counterfeit Kate Ace bags. The legal dispute that will arise here is most
likely to be governed by ________. - CORRECT ANSWER✅✅property law
Mary was driving her four kids to soccer practice one day when she was rear-ended by Ted, who was
driving his Porsche too fast and did not see that traffic was at a standstill. Mary's mini-van was damaged
and required extensive repairs. Additionally, she had to go to the chiropractor for whiplash that she
sustained in the accident. Mary meets with an attorney to discuss filing a lawsuit against Ted to recover
compensation for the damages to herself and her vehicle. If the attorney takes the case, she will likely
utilize which type of law? - CORRECT ANSWER✅✅Tort law
Which of the following statements is true of the rule of law? - CORRECT ANSWER✅✅Rule-of-law
nations adopt laws supporting the private market because it is in everyone's interest, including the
lawmakers'.
________ property is an ownership fence, which applies to resources like land that more than one
individual owns jointly. - CORRECT ANSWER✅✅Common
In the context of property, contract law________. - CORRECT ANSWER✅✅enables an owner to
exchange resources, especially at a future date
The law that provides protection to the owners of a business entity from the managers who run it for
them is called ________. - CORRECT ANSWER✅✅corporate governance
The ideas and philosophies that explain the origin of law and its justification are called ________. -
CORRECT ANSWER✅✅jurisprudence
________ law jurisprudence believes that law is simply the commands of the state backed up by force
and punishments. - CORRECT ANSWER✅✅Positive
________ jurisprudence supports the idea that law can and should change to meet new developments
in society. - CORRECT ANSWER✅✅Sociological
Kate Ace is a luxury purse brand that has its own distinctive logo. The company recently discovered that
another retailer has been selling counterfeit Kate Ace bags. The legal dispute that will arise here is most
likely to be governed by ________. - CORRECT ANSWER✅✅property law
Mary was driving her four kids to soccer practice one day when she was rear-ended by Ted, who was
driving his Porsche too fast and did not see that traffic was at a standstill. Mary's mini-van was damaged
and required extensive repairs. Additionally, she had to go to the chiropractor for whiplash that she
sustained in the accident. Mary meets with an attorney to discuss filing a lawsuit against Ted to recover
compensation for the damages to herself and her vehicle. If the attorney takes the case, she will likely
utilize which type of law? - CORRECT ANSWER✅✅Tort law
