CH1 Legal Ethical and Global
Environment of Business with correct
answers 2026
Breaches---correct-answers--to-violate-a-law,-by-an-act-or-an-omission,-or-to-break-a-legal-
obligation-that-one-owes-to-another-person-or-to-society
Factors-that-influence-Business-Decision-Making---correct-answers--1.-Contracts
2.-Sales
3.-Negotiable-Instruments
4.-Creditor's-Rights-
5.-Intellectual-Property
6.-E-Commerce
7.-Product-Liability-
8.-Torts-
9.-Agency-
10.-Business-Organizations
11.-Professional-Liability-
12.-Courts-and-Court-Procedure
, Ethics---correct-answers--the-study-of-what-constitutes-right-or-wrong-behavior
Primary-Sources-of-Law-(sources-that-establish-the-law)---correct-answers--1.-The-U.S.-
Constitution-and-the-constitutions-of-the-various-states
2.-Statutory-law-
3.-Regulations-created-by-administrative-agencies,-such-as-the-Food-and-Drug-Administration-
4.-Case-law-and-common-law-doctrines
Secondary-sources-of-law---correct-answers--books-and-articles-that-summarize-and-clarify-the-
sources-of-law;-Courts-refer-to-these-sources-for-guidance-in-interpreting-and-applying-the-
primary-sources-of-law
Examples-of-Secondary-Sources-of-Law---correct-answers--Legal-Encyclopedias,-treatises,-articles-
in-law-reviews,-and-compilations-of-law-such-as-the-Restatements-of-the-Law
Constitutional-Law---correct-answers--the-law-as-expressed-in-these-constitutions-(the-supreme-
law-of-the-land,-the-basis-of-all-law-in-the-United-States)
Statutory-Law---correct-answers--Laws-enacted-by-legislative-bodies-at-any-level-of-government,-
such-as-the-statues-passed-by-Congress-or-by-state-legislatures,-make-up-the-body-of-the-law;-
Statutory-laws-also-include-local-ordinances
What-happens-when-a-legislature-passes-a-statue?---correct-answers--That-statue-is-ultimately-is-
included-in-the-federal-code-of-laws-or-the-relevant-state-code-of-laws
Local-ordinances---correct-answers--statues-(laws,-rules,-or-orders)-passed-by-municipal-or-
county-governing-units-to-govern-matters-not-covered-by-federal-or-state-law.
Environment of Business with correct
answers 2026
Breaches---correct-answers--to-violate-a-law,-by-an-act-or-an-omission,-or-to-break-a-legal-
obligation-that-one-owes-to-another-person-or-to-society
Factors-that-influence-Business-Decision-Making---correct-answers--1.-Contracts
2.-Sales
3.-Negotiable-Instruments
4.-Creditor's-Rights-
5.-Intellectual-Property
6.-E-Commerce
7.-Product-Liability-
8.-Torts-
9.-Agency-
10.-Business-Organizations
11.-Professional-Liability-
12.-Courts-and-Court-Procedure
, Ethics---correct-answers--the-study-of-what-constitutes-right-or-wrong-behavior
Primary-Sources-of-Law-(sources-that-establish-the-law)---correct-answers--1.-The-U.S.-
Constitution-and-the-constitutions-of-the-various-states
2.-Statutory-law-
3.-Regulations-created-by-administrative-agencies,-such-as-the-Food-and-Drug-Administration-
4.-Case-law-and-common-law-doctrines
Secondary-sources-of-law---correct-answers--books-and-articles-that-summarize-and-clarify-the-
sources-of-law;-Courts-refer-to-these-sources-for-guidance-in-interpreting-and-applying-the-
primary-sources-of-law
Examples-of-Secondary-Sources-of-Law---correct-answers--Legal-Encyclopedias,-treatises,-articles-
in-law-reviews,-and-compilations-of-law-such-as-the-Restatements-of-the-Law
Constitutional-Law---correct-answers--the-law-as-expressed-in-these-constitutions-(the-supreme-
law-of-the-land,-the-basis-of-all-law-in-the-United-States)
Statutory-Law---correct-answers--Laws-enacted-by-legislative-bodies-at-any-level-of-government,-
such-as-the-statues-passed-by-Congress-or-by-state-legislatures,-make-up-the-body-of-the-law;-
Statutory-laws-also-include-local-ordinances
What-happens-when-a-legislature-passes-a-statue?---correct-answers--That-statue-is-ultimately-is-
included-in-the-federal-code-of-laws-or-the-relevant-state-code-of-laws
Local-ordinances---correct-answers--statues-(laws,-rules,-or-orders)-passed-by-municipal-or-
county-governing-units-to-govern-matters-not-covered-by-federal-or-state-law.
