LEGL 2700 EXAM QUESTIONS AND 100%
CORRECT ANSWERS LATEST UPDATE
Public Law - ANSWER Usually involves the regulation of society in general and not
individuals interacting. Subtypes: Administrative, Criminal, Constitutional
Private Law - ANSWER Usually deals with disputes between individuals. Subtypes:
Property, Contract, Tort
Substantive Law - ANSWER Defines the legal relationship of people with other people or
between them and the state
Procedural Law - ANSWER Deals with the method and means by which substantive law
is made and administered.
Constitutional Law - ANSWER Establishes the framework of the state whose purpose is
to protect property in its broadest sense.
Tort Law - ANSWER Compensates owners whose property is wrongly harmed by the
actions of another.
Criminal Law - ANSWER Punishes those who harm another's property in particular
ways, such as theft.
The Law of Business Organizations - ANSWER Dictates how individuals can own and use
private resources in a group.
Regulatory Law - ANSWER Protects ownership and sets limit on private resource use.
,Antitrust Law - ANSWER Prevents corporations from monopolizing particular classes of
resources and specifies how corporations can compete for ownership of new
resources.
Securities Law - ANSWER Regulate the sale of ownership in some profit making
opportunities
Environmental Law - ANSWER Specifies how owners can use their resources when
creating pollution
Jurisprudence - ANSWER The philosophy of law, attempts at explaining the origin of
laws
Natural Law - ANSWER Claims that law embodies general moral principles. These
principles can be seen in nature, and we are capable of discovering them through
human reason
Positive Law - ANSWER The theory that law is nothing more than the commands of the
state supported by force and sanctions. It is the opposite of natural law philosophy.
Major Factors of Economic Strength in a Nation - ANSWER Poverty, The Dependency
Theory, Climate, Education and Technology, Law & The Legal System, Natural
Resources, The Private Market
The Dependency Theory - ANSWER The idea that strong nations exploit the labor and
resources of the weaker nations. It states that some nations grow and prosper at the
expense of others. This makes the weak nations overly dependent on foreign goods and
services so as to say, maintains their weakness.
Law - ANSWER A set of norms forced by the state that are accepted by those in the
purview of the state's power to comply. Enforced by legal authorities. Exists as an
, institutionalized social force.
Rule of Law - ANSWER The principle that laws must be general and equally applied to all
members of a society, including those who make the laws. This provides a disincentive
to those in power as it requires them to make laws that are at least in the interest of all.
This concept is only really applicable to democracies.
Property - ANSWER A legal right to exclude others from your resources. It makes what
is yours, "yours."
Public Property - ANSWER Resources owned by the government (or "state") like most
roads, public buildings, monuments etc.
Private Property - ANSWER Resources owned by an individual or organization.
Common Property - ANSWER Resources like land that more than one individual owns
jointly.
Historical School - ANSWER Emphasizes that modern law should focus on those legal
principles which have stood the test of time in a nation.
Sociological Jurisprudence - ANSWER Believes that law can and should change to meet
new developments in society
Legal Realism - ANSWER Tries to go beyond just the words of law to examine what
police, administrators, prosecutors, and judges are actually doing as they enforce,
interpret, and apply laws
Hierarchy of Law - ANSWER Federal, State, Judicial Decisions
Citations - ANSWER Used to locate prior precedents in a library or electronic research
CORRECT ANSWERS LATEST UPDATE
Public Law - ANSWER Usually involves the regulation of society in general and not
individuals interacting. Subtypes: Administrative, Criminal, Constitutional
Private Law - ANSWER Usually deals with disputes between individuals. Subtypes:
Property, Contract, Tort
Substantive Law - ANSWER Defines the legal relationship of people with other people or
between them and the state
Procedural Law - ANSWER Deals with the method and means by which substantive law
is made and administered.
Constitutional Law - ANSWER Establishes the framework of the state whose purpose is
to protect property in its broadest sense.
Tort Law - ANSWER Compensates owners whose property is wrongly harmed by the
actions of another.
Criminal Law - ANSWER Punishes those who harm another's property in particular
ways, such as theft.
The Law of Business Organizations - ANSWER Dictates how individuals can own and use
private resources in a group.
Regulatory Law - ANSWER Protects ownership and sets limit on private resource use.
,Antitrust Law - ANSWER Prevents corporations from monopolizing particular classes of
resources and specifies how corporations can compete for ownership of new
resources.
Securities Law - ANSWER Regulate the sale of ownership in some profit making
opportunities
Environmental Law - ANSWER Specifies how owners can use their resources when
creating pollution
Jurisprudence - ANSWER The philosophy of law, attempts at explaining the origin of
laws
Natural Law - ANSWER Claims that law embodies general moral principles. These
principles can be seen in nature, and we are capable of discovering them through
human reason
Positive Law - ANSWER The theory that law is nothing more than the commands of the
state supported by force and sanctions. It is the opposite of natural law philosophy.
Major Factors of Economic Strength in a Nation - ANSWER Poverty, The Dependency
Theory, Climate, Education and Technology, Law & The Legal System, Natural
Resources, The Private Market
The Dependency Theory - ANSWER The idea that strong nations exploit the labor and
resources of the weaker nations. It states that some nations grow and prosper at the
expense of others. This makes the weak nations overly dependent on foreign goods and
services so as to say, maintains their weakness.
Law - ANSWER A set of norms forced by the state that are accepted by those in the
purview of the state's power to comply. Enforced by legal authorities. Exists as an
, institutionalized social force.
Rule of Law - ANSWER The principle that laws must be general and equally applied to all
members of a society, including those who make the laws. This provides a disincentive
to those in power as it requires them to make laws that are at least in the interest of all.
This concept is only really applicable to democracies.
Property - ANSWER A legal right to exclude others from your resources. It makes what
is yours, "yours."
Public Property - ANSWER Resources owned by the government (or "state") like most
roads, public buildings, monuments etc.
Private Property - ANSWER Resources owned by an individual or organization.
Common Property - ANSWER Resources like land that more than one individual owns
jointly.
Historical School - ANSWER Emphasizes that modern law should focus on those legal
principles which have stood the test of time in a nation.
Sociological Jurisprudence - ANSWER Believes that law can and should change to meet
new developments in society
Legal Realism - ANSWER Tries to go beyond just the words of law to examine what
police, administrators, prosecutors, and judges are actually doing as they enforce,
interpret, and apply laws
Hierarchy of Law - ANSWER Federal, State, Judicial Decisions
Citations - ANSWER Used to locate prior precedents in a library or electronic research
