BULW 301 UTK Exam 1 Questions and Correct Verified Answers Latest Version

Law consists of enforceable rules governing relationships among individuals and between individuals and their society Liability the state of being responsible for something, especially by law. Ethics the principles governing what constitutes right or wrong behavior Primary sources of law sources that establish the law What are the 4 primary sources of law in the US? Constitutions, statutes, regulations, case law Secondary sources of law Master01 | September, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ book and articles that summarize and clarify the primary sources of law What are some examples of secondary sources of law? Information taken from primary sources, reliable newspapers/articles, the restatement of law Constitutional Law the law as expressed in state and federal constitutions Statutory Law when laws are enacted by legislative bodies at any level of government Ordinances regulations passed by municipal or county governing units to deal with matters not covered by federal or state law National Conference of Commissioners on Uniform State Laws (NCCUSL) was formed to help businesspersons who would conduct trade and commerce amongst the states Master01 | September, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ UCC (Uniform Commercial Code) facilitates commerce among the states by providing a uniform, yet flexible, set of rules governing commercial transactions Administrative law consists of the rules, orders, and decisions of administrative agencies Administrative Agency a federal, state, or local government agency established to perform a specific function Executive Agency subject to the authority of the president, who has the power to appoint and remove their officers Case Law the doctrines and principles announced in cases Common Law Master01 | September, 2024/2025 | Latest update 1 | P a