BUSINESS LAW CHAPTER 1 STUDY
GUIDE 2026 EDITION
COMPREHENSIVE REVIEW,
COMPREHENSION QUESTIONS,
PRACTICE QUIZ, CASE-BASED
SCENARIOS, DETAILED ANSWER
EXPLANATIONS AND EXAM
PREPARATION RESOURCE
national law - CORRECT ANSWER -law of a particular nation
sharia - CORRECT ANSWER -comprehensive code of principles that governs
the public & private lives of Islamic persons & directs many aspects of their
day-to-day life including politics, economics, banking, business law,
contract law & social issues
international law - CORRECT ANSWER -law that governs relations among
nations
-body of written & unwritten laws observed by independent nation and
governing the acts of individuals as well as governments binding authority -
CORRECT ANSWER -any source of law that a court must follow when
deciding a case
, liability - CORRECT ANSWER -state of being legally responsible for
something like a debt or obligation
breaches - CORRECT ANSWER -failure to perform a legal obligation
primary source of law - CORRECT ANSWER -document that establishes law
on a particular issue
- 4 types
4 types of primary law sources - CORRECT ANSWER -1. constitution
2. statute
3. administrative rule
4. court decision
constitution (primary law source) - CORRECT ANSWER -U.S. and those of
the various states
- U.S. however is supreme
statutes - CORRECT ANSWER -laws passed by congress and state
legislatures
administrative rules - CORRECT ANSWER -regulations created by
administrative agencies
case law - CORRECT ANSWER -rules of law announced in court decisions
GUIDE 2026 EDITION
COMPREHENSIVE REVIEW,
COMPREHENSION QUESTIONS,
PRACTICE QUIZ, CASE-BASED
SCENARIOS, DETAILED ANSWER
EXPLANATIONS AND EXAM
PREPARATION RESOURCE
national law - CORRECT ANSWER -law of a particular nation
sharia - CORRECT ANSWER -comprehensive code of principles that governs
the public & private lives of Islamic persons & directs many aspects of their
day-to-day life including politics, economics, banking, business law,
contract law & social issues
international law - CORRECT ANSWER -law that governs relations among
nations
-body of written & unwritten laws observed by independent nation and
governing the acts of individuals as well as governments binding authority -
CORRECT ANSWER -any source of law that a court must follow when
deciding a case
, liability - CORRECT ANSWER -state of being legally responsible for
something like a debt or obligation
breaches - CORRECT ANSWER -failure to perform a legal obligation
primary source of law - CORRECT ANSWER -document that establishes law
on a particular issue
- 4 types
4 types of primary law sources - CORRECT ANSWER -1. constitution
2. statute
3. administrative rule
4. court decision
constitution (primary law source) - CORRECT ANSWER -U.S. and those of
the various states
- U.S. however is supreme
statutes - CORRECT ANSWER -laws passed by congress and state
legislatures
administrative rules - CORRECT ANSWER -regulations created by
administrative agencies
case law - CORRECT ANSWER -rules of law announced in court decisions
