Business Law and Strategy (2024) 2nd Edition By Sean Melvin
(Test Bank All Chapters, 100% Original Verified, A+ Grade)
Answers At The End Of Each Chapter
Chapter 1
Student name:__________
1) Much of the origins of the law dealt with issues related to property ownership.
⊚ true
⊚ false
2) Law today is crucial to business by creating some degree of reliability to be used in business
planning and commercial transactions and promoting good faith dealing among merchants.
⊚ true
⊚ false
3) It is more common for States to amend their constitutions than it is for Congress to amend
the U.S. Constitution.
⊚ true
⊚ false
4) A presidential veto is only overridden by a two-thirds majority vote of the Senate.
⊚ true
⊚ false
5) All states have combined courts of law and equity.
⊚ true
⊚ false
6) A statute of limitations determines the maximum and minimum amounts of monetary relief
that may be granted in different types of civil lawsuits.
⊚ true
⊚ false
7) A single wrongful act may violate both civil law and criminal law.
⊚ true
⊚ false
Version 1 1
,Chapter 1
8) Freedom of speech, as defined in the Constitution, is an example of substantive law.
⊚ true
⊚ false
9) Civil law allows one party to be compensated for money lost because of another party’s
unlawful conduct.
⊚ true
⊚ false
10) When an Illinois appellate court makes a decision, stare decisis requires that Delaware trial
courts follow the case precedent when a case with a similar fact situation arises.
⊚ true
⊚ false
11) Attorneys representing a business only consult current laws to determine the best course of
action or strategy.
⊚ true
⊚ false
12) The United States Constitution is consistently amended to reflect the current societal needs.
⊚ true
⊚ false
13) According to the doctrine of specific performance cases with similar facts and issues should
have the same outcome.
⊚ true
⊚ false
14) Employing stare decisis and precedent allows a business to predict how the court will treat
their situation and plan strategically.
⊚ true
⊚ false
Version 1 2
,Chapter 1
15) The courts always apply the doctrine of stare decisis.
⊚ true
⊚ false
16) Black’s Law Dictionary, as cited in the textbook, defines "law" as including each of the
following except
A) A body of rules
B) Conduct prescribed by a controlling authority
C) Having the power to bind persons
D) A tool for regulating personal ethics.
17) If a state passes a new law banning horseracing within the state, the law would be defined
as:
A) An ordinance
B) A regulation
C) A statute
D) A common law
18) The City of New York has passed a law banning cigarette and cigar smoking in public bars
and restaurants. The law would be defined as
A) An ordinance
B) A regulation
C) A statue
D) A common law
Version 1 3
, Chapter 1
19) Erin witnessed a motor vehicle accident but did not stop because she did not want to get
involved. Had she stopped, she could have saved the life of Joseph, who was thrown from the
car. When Joseph’s widow hears that Erin could have easily saved Joseph’s life but chose to
ignore the situation, she sues Erin. The state has no "Good Samaritan" laws or duty-to-assist
laws, but such cases have been brought in the past. Which of the following will the court
apply when making a decision in this case?
A) Statutory law
B) Administrative law
C) Common law
D) Equity law
20) Which of the following outcomes would not be available in a court of equity?
A) An order for the payment of money damages for a breach of contract
B) An order prohibiting the building of a 16-foot fence in a residential neighborhood
C) An order requiring teachers to stop picketing in a particular area
D) An order requiring a party to turn over goods after being found guilty of breach of
contract
21) A state’s appellate court has made a decision in a particular case. That decision becomes case
precedent in all cases except the cases heard in
A) The state’s appellate supreme or highest court
B) The state’s special courts, such as family or probate
C) The state’s general trial court
D) The state’s inferior or small-claims court
22) Regulations created and enforced by federal regulatory agencies are examples of
A) Administrative laws
B) Antitrust laws
C) Labor laws
D) Securities laws
Version 1 4
(Test Bank All Chapters, 100% Original Verified, A+ Grade)
Answers At The End Of Each Chapter
Chapter 1
Student name:__________
1) Much of the origins of the law dealt with issues related to property ownership.
⊚ true
⊚ false
2) Law today is crucial to business by creating some degree of reliability to be used in business
planning and commercial transactions and promoting good faith dealing among merchants.
⊚ true
⊚ false
3) It is more common for States to amend their constitutions than it is for Congress to amend
the U.S. Constitution.
⊚ true
⊚ false
4) A presidential veto is only overridden by a two-thirds majority vote of the Senate.
⊚ true
⊚ false
5) All states have combined courts of law and equity.
⊚ true
⊚ false
6) A statute of limitations determines the maximum and minimum amounts of monetary relief
that may be granted in different types of civil lawsuits.
⊚ true
⊚ false
7) A single wrongful act may violate both civil law and criminal law.
⊚ true
⊚ false
Version 1 1
,Chapter 1
8) Freedom of speech, as defined in the Constitution, is an example of substantive law.
⊚ true
⊚ false
9) Civil law allows one party to be compensated for money lost because of another party’s
unlawful conduct.
⊚ true
⊚ false
10) When an Illinois appellate court makes a decision, stare decisis requires that Delaware trial
courts follow the case precedent when a case with a similar fact situation arises.
⊚ true
⊚ false
11) Attorneys representing a business only consult current laws to determine the best course of
action or strategy.
⊚ true
⊚ false
12) The United States Constitution is consistently amended to reflect the current societal needs.
⊚ true
⊚ false
13) According to the doctrine of specific performance cases with similar facts and issues should
have the same outcome.
⊚ true
⊚ false
14) Employing stare decisis and precedent allows a business to predict how the court will treat
their situation and plan strategically.
⊚ true
⊚ false
Version 1 2
,Chapter 1
15) The courts always apply the doctrine of stare decisis.
⊚ true
⊚ false
16) Black’s Law Dictionary, as cited in the textbook, defines "law" as including each of the
following except
A) A body of rules
B) Conduct prescribed by a controlling authority
C) Having the power to bind persons
D) A tool for regulating personal ethics.
17) If a state passes a new law banning horseracing within the state, the law would be defined
as:
A) An ordinance
B) A regulation
C) A statute
D) A common law
18) The City of New York has passed a law banning cigarette and cigar smoking in public bars
and restaurants. The law would be defined as
A) An ordinance
B) A regulation
C) A statue
D) A common law
Version 1 3
, Chapter 1
19) Erin witnessed a motor vehicle accident but did not stop because she did not want to get
involved. Had she stopped, she could have saved the life of Joseph, who was thrown from the
car. When Joseph’s widow hears that Erin could have easily saved Joseph’s life but chose to
ignore the situation, she sues Erin. The state has no "Good Samaritan" laws or duty-to-assist
laws, but such cases have been brought in the past. Which of the following will the court
apply when making a decision in this case?
A) Statutory law
B) Administrative law
C) Common law
D) Equity law
20) Which of the following outcomes would not be available in a court of equity?
A) An order for the payment of money damages for a breach of contract
B) An order prohibiting the building of a 16-foot fence in a residential neighborhood
C) An order requiring teachers to stop picketing in a particular area
D) An order requiring a party to turn over goods after being found guilty of breach of
contract
21) A state’s appellate court has made a decision in a particular case. That decision becomes case
precedent in all cases except the cases heard in
A) The state’s appellate supreme or highest court
B) The state’s special courts, such as family or probate
C) The state’s general trial court
D) The state’s inferior or small-claims court
22) Regulations created and enforced by federal regulatory agencies are examples of
A) Administrative laws
B) Antitrust laws
C) Labor laws
D) Securities laws
Version 1 4
