LSTD 2106 : LEGAL ENVIROMENT OF BUISNESS
FINAL EXAM QUESTIONS WITH VERIFIED ANSWERS
The origins of recorded law are cited by the textbook as being: - Answers - A collection
of rules of tribal chieftains to perpetuate their power
Diversity of citizenship jurisdiction involves a case - Answers - in federal court with
diverse legal theories and a controversy over $75,000.
The U.S. system of common law is deep-seated in the French common law established
by the Norman kings around 1066.
True or False - Answers - False
In the typical business context, ADR is invoked either via contract or by mutual
agreement.
True or False - Answers - True
Most companies employ in-house counsel for their legal needs
True or False - Answers - False
A court may hear a case if it has jurisdiction over either the subject matter of the dispute
or the parties in the case.
True or False - Answers - False
Formal action in a lawsuit begins when the plaintiff files a _______ - Answers -
summons and complaint
Which law requires courts to enforce arbitration awards? - Answers - The Federal
Arbitration Act
Substantive due process requires that a state statute must be published for public
inspection and be clear and specific. - Answers - True
The principal difference between in rem and in personam jurisdiction is - Answers - in
rem jurisdiction is used by federal courts, in personam jurisdiction is used by state
courts
Not all courts have the authority to hear all cases.
True or False - Answers - True
In recent years, the Supreme Court of the United States has generally accepted only
about 10 percent of the petitions for a writ of certiorari made to the Court each year.
, True or False - Answers - False
Jurisprudence is roughly defined as the science and philosophy of law.
True or False - Answers - True
Typically, political speech by corporations is fully protected by the First Amendment. -
Answers - True
Which of the following must a court have to exercise jurisdiction over a matter? -
Answers - Personal jurisdiction and subject matter jurisdiction
LaMonte has sued Jarod and received judgment in the amount of $24,000. LaMonte is
a judgment creditor.
True or False - Answers - True
All American taxpayers are allowed to bring any type of case in federal court at any
time.
True or False - Answers - False
the system of law in the United States provides for - Answers - -Good faith dealings
between merchants and consumers
-Equality
-Consistency
Enumerated powers are those rights and powers granted in the Constitution to the
individual states.
True or False - Answers - False
The United States has adopted the country of origin principle to determine the
application of law in international online disputes.
True or False - Answers - True
The rights of a business compared with an individual under the Fourth Amendment are
best described as: - Answers - A business has lesser rights to be free from government
searches than an individual.
Venue is - Answers - the determination of the most appropriate location for the dispute
Mediation differs from arbitration in which of the following ways? - Answers - The
mediator's goal is to defuse antagonism and help the parties reach a solution, the
arbitrator's goal is to conduct a hearing and render a decision.
Which of the following is correct about the powers of the president? - Answers - The
president has the power to issue executive orders which have the full force of law.
FINAL EXAM QUESTIONS WITH VERIFIED ANSWERS
The origins of recorded law are cited by the textbook as being: - Answers - A collection
of rules of tribal chieftains to perpetuate their power
Diversity of citizenship jurisdiction involves a case - Answers - in federal court with
diverse legal theories and a controversy over $75,000.
The U.S. system of common law is deep-seated in the French common law established
by the Norman kings around 1066.
True or False - Answers - False
In the typical business context, ADR is invoked either via contract or by mutual
agreement.
True or False - Answers - True
Most companies employ in-house counsel for their legal needs
True or False - Answers - False
A court may hear a case if it has jurisdiction over either the subject matter of the dispute
or the parties in the case.
True or False - Answers - False
Formal action in a lawsuit begins when the plaintiff files a _______ - Answers -
summons and complaint
Which law requires courts to enforce arbitration awards? - Answers - The Federal
Arbitration Act
Substantive due process requires that a state statute must be published for public
inspection and be clear and specific. - Answers - True
The principal difference between in rem and in personam jurisdiction is - Answers - in
rem jurisdiction is used by federal courts, in personam jurisdiction is used by state
courts
Not all courts have the authority to hear all cases.
True or False - Answers - True
In recent years, the Supreme Court of the United States has generally accepted only
about 10 percent of the petitions for a writ of certiorari made to the Court each year.
, True or False - Answers - False
Jurisprudence is roughly defined as the science and philosophy of law.
True or False - Answers - True
Typically, political speech by corporations is fully protected by the First Amendment. -
Answers - True
Which of the following must a court have to exercise jurisdiction over a matter? -
Answers - Personal jurisdiction and subject matter jurisdiction
LaMonte has sued Jarod and received judgment in the amount of $24,000. LaMonte is
a judgment creditor.
True or False - Answers - True
All American taxpayers are allowed to bring any type of case in federal court at any
time.
True or False - Answers - False
the system of law in the United States provides for - Answers - -Good faith dealings
between merchants and consumers
-Equality
-Consistency
Enumerated powers are those rights and powers granted in the Constitution to the
individual states.
True or False - Answers - False
The United States has adopted the country of origin principle to determine the
application of law in international online disputes.
True or False - Answers - True
The rights of a business compared with an individual under the Fourth Amendment are
best described as: - Answers - A business has lesser rights to be free from government
searches than an individual.
Venue is - Answers - the determination of the most appropriate location for the dispute
Mediation differs from arbitration in which of the following ways? - Answers - The
mediator's goal is to defuse antagonism and help the parties reach a solution, the
arbitrator's goal is to conduct a hearing and render a decision.
Which of the following is correct about the powers of the president? - Answers - The
president has the power to issue executive orders which have the full force of law.
