BUSINESS LAW - EXAM 1 QUESTIONS
AND ANSWERS
Administrative Law - Correct Answers -The rules and decisions made by a government
agency are known as ______.
Administrative Law - Correct Answers -Law made by agencies is called the __ law.
Administrative Law - Correct Answers -The collection of rules and orders of government
agencies is know as __ law.
case law - Correct Answers -Collection of legal interpretations made by judges is known
as _____.
Code of Federal Regulations - Correct Answers -All the Executive Orders created by the
Presidents of the United States are found in the: ________.
Code of Federal Regulations - Correct Answers -All the Executive Orders created by the
Presidents of the United States are found in the: ________.
cost-benefit analysis - Correct Answers -Suppose that a court must decide whether or
not a mandatory arbitration clause must be upheld in a contract dispute. The judge then
weighs the costs of the pros and cons of upholding the law. The judge reaches a
decision based on these estimates; therefore, the school of jurisprudence that the judge
has used is known as: _______.
cost-benefit analysis - Correct Answers -The school of thought which states that legal
change should maximize benefits and minimize costs is known as
EPA (Environ. Protection Agency); OSHA (Occupational Safety & Health Admin.) -
Correct Answers -The ____ enforces federal environmental statutes, while _____
enforces workplace safety regulations
Executive - Correct Answers -In the United States, a treaty is generally negotiated by
the _____ branch.
Executive Order - Correct Answers -If the President signed a directive requiring all
federal contractors to engage in Affirmative Action, this directive would be called a(n)
_____________.
historical - Correct Answers -Stare decisis is an example of the ____ school of legal
thought.
,historical - Correct Answers -Which school of legal thought relies on custom or tradition,
and assumes that past practice was the product of careful thought?
jurisprudence - Correct Answers -When the courts or legislators make law, they are
guided by certain habits of mind and specific beliefs about human nature. The results
are schools of ______ which shape the interpretation of the law.
legal positivism - Correct Answers -The school of thought that sees the law as a set of
rules to be obeyed despite negative moral implications is known as: _______.
Legal Positivism - Correct Answers -Jason steals a life-saving drug to help his
terminally-ill wife. The school of legal thought that would state that Jason has an
absolute duty to adhere to the laws which prohibit theft no matter if it is for a greater
good is known as: _______.
legal realism - Correct Answers -The laws that previously held homosexuality as illegal
were struck down because courts recognized the changes in society's views on
homosexuality and homosexual marriages. The school of thought that best fits the laws
striking down segregation is known as _____.
legal realism - Correct Answers -The school of jurisprudence known as ______ ______
is based on the idea that a judge, when ruling on a case, needs to consider not just the
law, but social and economic conditions as well.
model laws - Correct Answers -NCC urges states to enacht ________.
nations - Correct Answers -Global law regulates business practices between: _______.
Natural - Correct Answers -Under _____ law, individuals not only have basic human
rights, but also the freedom to disobey a law enacted by the government if their
conscience goes against it and they believe it is wrong.
Natural - Correct Answers -Ethical laws and principles believed to be morally right and
"above" the law devised by humans are known as _____ law.
precedent - Correct Answers -Courts use _____ to help them interpret statutes and
admin. Regulations.
racial background - Correct Answers -Brown v. Wade
restatements of the law - Correct Answers -Summaries of the common law rules in a
particular area of the law are known as: _______.
restatements of the law - Correct Answers -___________ are summaries of common
law used by legal scholars and professionals to understand law in particular states.
, Schools of jurisprudence - Correct Answers -Legal positivism, identification with the
vulnerable, and cost-benefit are examples of: ______.
the law of the vulnerable - Correct Answers -One school of jurisprudence talks about
laws that attempt to level an uneven playing field. These laws are designed to provide
fairness. Such laws are known as: _______.
The North American Free Trade Agreement - Correct Answers -What does the acronym
NAFTA stand for?
vulnerable - Correct Answers -The "identification with the __________" school of
jurisprudence recognizes that while some members of our society are able to take care
of themselves, others -- such as the ill, children, the aged, the disabled, and the poor --
require assistance to meet their fundamental needs of life, health, and education.
public law - Correct Answers -A pharmaceutical company has been regularly dumping
its hazardous waste in a nearby lake. This has led to serious health issues among
people living in the neighborhood. Which of the following laws will regulate this incident?
Administrative Law - Correct Answers -If the Federal Trade Commission (FTC), a
government agency, requires businesses to adhere to certain standards in advertising,
the law that would cover this rule would be:
county ordinances - Correct Answers -Allison owned a floral shop in Greenville, South
Carolina, but has moved to Chicago, Illinois, for personal reasons. She wants to
establish another floral shop in the new city. She can find information regarding local
taxes if she refers to the:
Common law - Correct Answers -Courts issue judicial decisions that often include
interpretations of statutes and administrative regulations. This type of law is best
described as which of the following?
treaty - Correct Answers -A(n) _______ is best described as a binding agreement
between two states or international organizations.
private law - Correct Answers -Which of the following laws would govern a dispute
between a tenant and a landlord over payment of rent?
to encourage social justice - Correct Answers -Which of the following is an intended and
essential purpose of law?
are considered acts against society as a whole - Correct Answers -While civil law
involves the right between people and people and the governments, criminal law
statutory laws - Correct Answers -Legislative bodies, such as Congress or state
legislatures, create what kind of laws?
AND ANSWERS
Administrative Law - Correct Answers -The rules and decisions made by a government
agency are known as ______.
Administrative Law - Correct Answers -Law made by agencies is called the __ law.
Administrative Law - Correct Answers -The collection of rules and orders of government
agencies is know as __ law.
case law - Correct Answers -Collection of legal interpretations made by judges is known
as _____.
Code of Federal Regulations - Correct Answers -All the Executive Orders created by the
Presidents of the United States are found in the: ________.
Code of Federal Regulations - Correct Answers -All the Executive Orders created by the
Presidents of the United States are found in the: ________.
cost-benefit analysis - Correct Answers -Suppose that a court must decide whether or
not a mandatory arbitration clause must be upheld in a contract dispute. The judge then
weighs the costs of the pros and cons of upholding the law. The judge reaches a
decision based on these estimates; therefore, the school of jurisprudence that the judge
has used is known as: _______.
cost-benefit analysis - Correct Answers -The school of thought which states that legal
change should maximize benefits and minimize costs is known as
EPA (Environ. Protection Agency); OSHA (Occupational Safety & Health Admin.) -
Correct Answers -The ____ enforces federal environmental statutes, while _____
enforces workplace safety regulations
Executive - Correct Answers -In the United States, a treaty is generally negotiated by
the _____ branch.
Executive Order - Correct Answers -If the President signed a directive requiring all
federal contractors to engage in Affirmative Action, this directive would be called a(n)
_____________.
historical - Correct Answers -Stare decisis is an example of the ____ school of legal
thought.
,historical - Correct Answers -Which school of legal thought relies on custom or tradition,
and assumes that past practice was the product of careful thought?
jurisprudence - Correct Answers -When the courts or legislators make law, they are
guided by certain habits of mind and specific beliefs about human nature. The results
are schools of ______ which shape the interpretation of the law.
legal positivism - Correct Answers -The school of thought that sees the law as a set of
rules to be obeyed despite negative moral implications is known as: _______.
Legal Positivism - Correct Answers -Jason steals a life-saving drug to help his
terminally-ill wife. The school of legal thought that would state that Jason has an
absolute duty to adhere to the laws which prohibit theft no matter if it is for a greater
good is known as: _______.
legal realism - Correct Answers -The laws that previously held homosexuality as illegal
were struck down because courts recognized the changes in society's views on
homosexuality and homosexual marriages. The school of thought that best fits the laws
striking down segregation is known as _____.
legal realism - Correct Answers -The school of jurisprudence known as ______ ______
is based on the idea that a judge, when ruling on a case, needs to consider not just the
law, but social and economic conditions as well.
model laws - Correct Answers -NCC urges states to enacht ________.
nations - Correct Answers -Global law regulates business practices between: _______.
Natural - Correct Answers -Under _____ law, individuals not only have basic human
rights, but also the freedom to disobey a law enacted by the government if their
conscience goes against it and they believe it is wrong.
Natural - Correct Answers -Ethical laws and principles believed to be morally right and
"above" the law devised by humans are known as _____ law.
precedent - Correct Answers -Courts use _____ to help them interpret statutes and
admin. Regulations.
racial background - Correct Answers -Brown v. Wade
restatements of the law - Correct Answers -Summaries of the common law rules in a
particular area of the law are known as: _______.
restatements of the law - Correct Answers -___________ are summaries of common
law used by legal scholars and professionals to understand law in particular states.
, Schools of jurisprudence - Correct Answers -Legal positivism, identification with the
vulnerable, and cost-benefit are examples of: ______.
the law of the vulnerable - Correct Answers -One school of jurisprudence talks about
laws that attempt to level an uneven playing field. These laws are designed to provide
fairness. Such laws are known as: _______.
The North American Free Trade Agreement - Correct Answers -What does the acronym
NAFTA stand for?
vulnerable - Correct Answers -The "identification with the __________" school of
jurisprudence recognizes that while some members of our society are able to take care
of themselves, others -- such as the ill, children, the aged, the disabled, and the poor --
require assistance to meet their fundamental needs of life, health, and education.
public law - Correct Answers -A pharmaceutical company has been regularly dumping
its hazardous waste in a nearby lake. This has led to serious health issues among
people living in the neighborhood. Which of the following laws will regulate this incident?
Administrative Law - Correct Answers -If the Federal Trade Commission (FTC), a
government agency, requires businesses to adhere to certain standards in advertising,
the law that would cover this rule would be:
county ordinances - Correct Answers -Allison owned a floral shop in Greenville, South
Carolina, but has moved to Chicago, Illinois, for personal reasons. She wants to
establish another floral shop in the new city. She can find information regarding local
taxes if she refers to the:
Common law - Correct Answers -Courts issue judicial decisions that often include
interpretations of statutes and administrative regulations. This type of law is best
described as which of the following?
treaty - Correct Answers -A(n) _______ is best described as a binding agreement
between two states or international organizations.
private law - Correct Answers -Which of the following laws would govern a dispute
between a tenant and a landlord over payment of rent?
to encourage social justice - Correct Answers -Which of the following is an intended and
essential purpose of law?
are considered acts against society as a whole - Correct Answers -While civil law
involves the right between people and people and the governments, criminal law
statutory laws - Correct Answers -Legislative bodies, such as Congress or state
legislatures, create what kind of laws?
