BUSA 2106 FINAL EXAM QUESTIONS WITH VERIFIED
ANSWERS
Law - Answers - the most significant because it can bind together diverse groups
Rule of law - Answers - laws made generally and equally applicable
Property - Answers - Ownership, Bundle of Rights, Negative Rights to exclude
Common Law Legal System - Answers - law based on written judicial decisions
ex. Georgia and other states
Civil Law Legal System - Answers - law based on legislative statutes.
ex. Louisiana
Hierarchy of Legal Authorities - Answers - 1. US Constitution
2. Federal Legislation
3. Federal Administration Regulation
4. State Constitutions
5. State Legislations
6. State Administrative Regulation
7. Local Ordinances
Relationship between Law and Ethics - Answers - Both ethics and law deal with right
and wrong
Laws are enforced/ Ethics are voluntary
Laws are narrow/ ethics are broad
Formalism vs Consequentialism - Answers - Formalism- Absolute morality regardless of
consequences
Consequentialism- Relative morality based on consequences
Internal Stakeholders - Answers - Investors- Owners
Employees
Board
Managers
External Stakeholders - Answers - Customers
Suppliers
Creditors
Community
How are federal judges chosen? - Answers - Nominated by President
Confirmed by the Senate
, How are state judges chosen - Answers - Elected or appointed
Bench Trial - Answers - a trial by judge or panel of judges
Jury Trial - Answers - is a lawful proceeding in which a jury makes decision or findings
of fact
Power of Judicial Review - Answers - Power to review laws passed by a legislative body
and declare them void
Judicial Restraint - Answers - judges who use power of judicial review sparingly
Judicial Activism - Answers - Judges who use power of judicial review often
Claim vs Counter Claim - Answers - Claim- Plaintiff files a claim against a defendant
Counterclaim- Defendant files a counterclaim against the plaintiff
Documents in the pleading of a trial - Answers - Plantiff files a complaint
Defendant files an answer
Stare Decisis - Answers - to stand by decided matters
Res Judicata - Answers - once a decision is final
"A matter is already judged"
Federal Court Jurisdiction - Answers - Only hear cases in which the United States is a
party; cases involving visitations of the U.S constitution or Federal Laws
Extent of individual protections under the bill of rights - Answers - Safeguard society
from Government
Reminder about constitutional guarantees:
-Not absolute
-Exist to protect the minority and unpopular
-Interpreted narrowly in times of unrest
Doctrine of Preemption - Answers - which is based on the supremacy clause, Federal
law preempts state law, even when the laws conflict. A federal court may require a state
to stop certain behavior it believes interfere with, or it is in conflict with federal laws.
Differences between Minimum Rational, Quasi-Strict, and Strict Scrutiny - Answers -
Minimum Rationality- Least Strict
Quasi Strict- In the Middle
Strict Scrutiny- Most Strict
ANSWERS
Law - Answers - the most significant because it can bind together diverse groups
Rule of law - Answers - laws made generally and equally applicable
Property - Answers - Ownership, Bundle of Rights, Negative Rights to exclude
Common Law Legal System - Answers - law based on written judicial decisions
ex. Georgia and other states
Civil Law Legal System - Answers - law based on legislative statutes.
ex. Louisiana
Hierarchy of Legal Authorities - Answers - 1. US Constitution
2. Federal Legislation
3. Federal Administration Regulation
4. State Constitutions
5. State Legislations
6. State Administrative Regulation
7. Local Ordinances
Relationship between Law and Ethics - Answers - Both ethics and law deal with right
and wrong
Laws are enforced/ Ethics are voluntary
Laws are narrow/ ethics are broad
Formalism vs Consequentialism - Answers - Formalism- Absolute morality regardless of
consequences
Consequentialism- Relative morality based on consequences
Internal Stakeholders - Answers - Investors- Owners
Employees
Board
Managers
External Stakeholders - Answers - Customers
Suppliers
Creditors
Community
How are federal judges chosen? - Answers - Nominated by President
Confirmed by the Senate
, How are state judges chosen - Answers - Elected or appointed
Bench Trial - Answers - a trial by judge or panel of judges
Jury Trial - Answers - is a lawful proceeding in which a jury makes decision or findings
of fact
Power of Judicial Review - Answers - Power to review laws passed by a legislative body
and declare them void
Judicial Restraint - Answers - judges who use power of judicial review sparingly
Judicial Activism - Answers - Judges who use power of judicial review often
Claim vs Counter Claim - Answers - Claim- Plaintiff files a claim against a defendant
Counterclaim- Defendant files a counterclaim against the plaintiff
Documents in the pleading of a trial - Answers - Plantiff files a complaint
Defendant files an answer
Stare Decisis - Answers - to stand by decided matters
Res Judicata - Answers - once a decision is final
"A matter is already judged"
Federal Court Jurisdiction - Answers - Only hear cases in which the United States is a
party; cases involving visitations of the U.S constitution or Federal Laws
Extent of individual protections under the bill of rights - Answers - Safeguard society
from Government
Reminder about constitutional guarantees:
-Not absolute
-Exist to protect the minority and unpopular
-Interpreted narrowly in times of unrest
Doctrine of Preemption - Answers - which is based on the supremacy clause, Federal
law preempts state law, even when the laws conflict. A federal court may require a state
to stop certain behavior it believes interfere with, or it is in conflict with federal laws.
Differences between Minimum Rational, Quasi-Strict, and Strict Scrutiny - Answers -
Minimum Rationality- Least Strict
Quasi Strict- In the Middle
Strict Scrutiny- Most Strict
