Business Law Final Exam Question and Answers 2023.

One type of punishment in a criminal case is that the defendant who is held liable must pay a fine to the government. - True All schools of jurisprudence assert that the law is one thing and morality is another, and that we should obey even bad laws. - False Business 201 is composed of two parts or components. These components are: - A Lecture taught by two different professors and a Discussion taught by a Discussion group leader. Which school of jurisprudence is characterized by the following statement: "I obey the law no matter what, I do not question the law" - legal positivism All civil cases arise from statutes. - False Sherri assaults and batters Bill. BIll successfully sues Sherri for the damages caused by the torts. Sherri can also be criminally prosecuted for her wrongful behavior. - True Jessie, a citizen files a $10,000 lawsuit against Thomas, another citizen. This is an example of a - Private civil case In Business 201 there are ______ opportunities for extra credit points - Two As a judge Peter applies common law rules. These rules develop from: - decisions of the courts in previous legal disputes. The Securities Exchange Commission is an administrative agency. The chief purpose os such agencies is to: - prepare regulations related to its specific mandate as directed by the legislature. The primary purpose of civil law is to compensate victims. - True A state statute enacted in 1776 provides that "any person who wears, on a public street clothing that allows the wearer's ankles to be exposed to public view shall be guilty of a felony and shall be jailed for not less than 6 years." Although the statute has never been repealed by the state legislature, the statute has not been enforced in years. Adherents to which of the following schools of jurisprudence would probably be the most likely to say that the statute is the law and it must be followed no matter what? - Legal positivism