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Exam (elaborations)

Test Bank For Business Law 15th Edition Clarkson, All Chapters ||Complete A+ Guide

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Test Bank For Business Law 15th Edition Clarkson, All Chapters ||Complete A+ Guide

Institution
Business Law
Course
Business Law











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Institution
Business Law
Course
Business Law

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Uploaded on
November 27, 2024
Number of pages
635
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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Chapter 1 m




Introduction to Law andLegal Reasoning m m m m m




N.B.: TYPEindicates that a question is new, modified, or unchanged, as
mm m m m m m m m m m m


follows.
m




N A question new to this edition of the Test Bank.
m m m m m m m m m


+ A question modified from the previous edition of the Test Bank.
m m m m m m m m m m


= A question included in the previous edition of the Test Bank.
m m m m m m m m m m




TRUE/FALSE QUESTIONS m




A1. The stability and predictability of the law is essential to business activities.
m m m m m m m m m m m




ANSWER: T PAGE: 2 TYPE: =
NAT: AACSB Analytic m m AICPA Critical Thinking m m




A2. Law is a body of enforceable rules governing relationships among m


individuals and between individuals and their society.
m m m m m m m




ANSWER: T PAGE: 2 TYPE: =
NAT: AACSB Analytic m m AICPA

m Legal A3.m A breach of
m m




m a contract is a failure to perform it.
m m m m m m m




ANSWER: T PAGE: 3 TYPE: N
NAT: AACSB Ethics m m AICPA Critical Thinking m m




A4.
m Constitutional law includes only the U.S. Constitution.
m m m m m m




ANSWER: F PAGE: 4 TYPE: =
NAT: AACSB Analyticm AICPA Legal
m m


A5. A state constitution is supreme within the state‘s borders.
m m m m m m m m




11

,12
ANSWER: T PAGE: 4 TYPE: =
NAT: AACSB Analytic
m m AICPA Legal m




m A6. Whether a law is constitutional depends on its source.
m m m m m m m m




ANSWER: F PAGE: 4 TYPE: =
NAT: AACSB Analytic
m m AICPA Legal m




A7. Uniform laws apply in all states, including those in which the laws have not
m m m m m m m m m m m m m


been adopted.
m m




ANSWER: F PAGE: 4 TYPE: =
NAT: AACSB Analytic
m m AICPA Legal m




A8. A state law that conflicts with the U.S. Constitution will be deemed
m m m m m m m m m m m


unconstitutional.
m




ANSWER: T PAGE: 4 TYPE: =
NAT: AACSB Analytic
m m AICPA

m Legal A9. m Statutory law m




does not include county ordinances.
m m m m m




ANSWER: F PAGE: 4 TYPE: =
NAT: AACSB Reflective
m m AICPA Legal m




A10. No state has adopted the Uniform Commercial Code in its entirety.
m m m m m m m m m m




ANSWER: F PAGE: 5 TYPE: =
NAT: AACSB Reflective
m m AICPA Legal m




A11. Common law is a term for law that is common throughout the world.
m m m m m m m m m m m m




ANSWER: F PAGE: 7 TYPE: =
NAT: AACSB Analytic
m m AICPA Critical Thinking m m




A12. Damages is a remedy at law. m m m m m




ANSWER: T PAGE: 7 TYPE: =
NAT: AACSB Analytic
m m AICPA Legal m




A13. Remedies in equity include injunctions and decrees of specific performance.
m m m m m m m m m

, 13

ANSWER: T PAGE: 7 TYPE: =
NAT: AACSB Analytic m m AICPA Legal m




A14. In most states, the courts no longer grant ―equitable‖ remedies.
m m m m m m m m m




ANSWER: F PAGE: 8 TYPE: =
NAT: AACSB Analytic m m AICPA Legal m




A15. A defendant is a person against whom a lawsuit is brought.
m m m m m m m m m m




ANSWER: T PAGE: 8 TYPE: =
NAT: AACSB Analytic m m AICPA

m Legal A16.
m Courts do m




m not depart from precedents.
m m m




ANSWER: F PAGE: 9 TYPE: =
NAT: AACSB Reflective m m AICPA Critical Thinking
m m




A17. A judge‘s function is to make the law.
m m m m m m m m




ANSWER: F PAGE: 13 TYPE: N
NAT: AACSB Analytic m m AICPA mm m Legal

m A18. Criminal law focuses on duties that exist between persons.
m m m m m m m m




ANSWER: F PAGE: 14 TYPE: =
NAT: AACSB Analytic m m AICPA Legal m




A19. A reference to ―28 U.S.C. Section 1332‖ means that a statute can be
m m m m m m m m m m m m


found in section 1332 of title 28 of the United States Code.
m m m m m m m m m m m m




ANSWER: T PAGE: 15 TYPE: =
NAT: AACSB Analytic m m AICPA

m Research A20. m Most state trial
m m




m court decisions are not published.
m m m m




ANSWER: T PAGE: 16 TYPE: =
NAT: AACSB Analytic m m AICPA Research m




MULTIPLE CHOICE QUESTIONS m m

, 14

A1. The legislature of the state of Mississippi enacts a new statute that sets
m m m m m m m m m m m m m


standards for the liability of businesses selling defective products. This
m m m m m m m m m m


statute applies
m m




a. only in Mississippi.
m m


b. only in Mississippi and its border states.
m m m m m m


c. in all states.
m m


d. in all states but only to matters not covered by other states‘ laws.
m m m m m m m m m m m m




ANSWER: A PAGE: 4 TYPE: N
NAT: AACSB Reflective m m AICPA Critical Thinking m m




A2. Lewis is a state court judge. Like other judges, Lewis often
m m m m m m m m m m m m m refers m m to
secondary sources of law for guidance. These sources include
m m m m m m m m m




a. official comments to statute.
m m m


b. other states‘ statutes.
m m


c. state constitutions.
m


d. the U.S. Constitution.
m m




ANSWER: A PAGE: 4 TYPE: N
NAT: AACSB Reflective m m AICPA Legal m




A3. m m Hawaii enacts a state law that violates the U.S. Constitution. This law
m m m m m m m m m m m


mcan be enforced by
m m m




a. no one. m


b. the federal government only.
m m m


c. the state of Hawaii only.
m m m m


d. the United States Supreme Court only.
m m m m m




ANSWER: A PAGE: 4 TYPE: =
NAT: AACSB Reflective m m AICPA Legal m

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