AGEC 3713 FINAL EXAM QUESTIONS
AND CORRECT ANSWERS 100%
GUARANTEED PASS
How is administrative law created? - Answer-Regulations are created by delegation of
the legislative power to the administrative agencies.
How is common law created? - Answer-Arises from the interpretation of legal principles
by courts to the specific situation before the court.
How is Constitutional Law modified? - Answer-Federally, it takes 2/3 majority vote.
Can use the power of initiative at the state level.
How is Administrative Law modified? - Answer-Same process as creation.
Get on a commission// council // board
How is Common Law modified? - Answer-Judges modify their interpretation
"Pile on" to an already existing case through amicus curiae.
How can you tell if something is a "good" as that term is defined by Article 2 of the
UCC? - Answer-"Goods" are defined as things which are movable at the time of
identification to the contract for sale. "Goods" also include the unborn young of animals
and growing crops and other identified things attached to realty but does not include
information.
What kinds of transactions are governed by Article 2, Article 2A, Article 7, and Article 9
of the UCC? - Answer-Article 2 deals with transactions made with sale of goods.
Article 2A deals with transactions of leases of goods.
Article 7 deals with warehouse receipts, bills of lading and other documents of title; the
rules governing transactions where you place your goods in the care of someone else.
Article 9 delas with secured transactions, including intangible property.
, Are real estate transactions such as land leases and mortgages governed by the UCC?
- Answer-Real estate transactions are governed by statutory law. Not through Uniform
Commercial Code.
What is the definition of "the law?" - Answer-A body of rules that can be enforced by the
authority of a government: federal, state and local
Constitutional Law - Answer-fundamental law of a government establishing its powers
and limitations
Administrative Law - Answer-the body of agency made law consisting of administrative
rules, regulations and enforceable policies
Statutory Law - Answer-The codified laws passed by a government's legislative body
Common Law - Answer-a system of law based on precedent and customs
How is Constitutional Law created? - Answer-Established through constitutional
convention
How is statutory law created? - Answer-Process is essentially the same at federal and
state levels:
- Bill is proposed by legislator in one house (and at federal level, revenue bills must
originate in the House).
-Bill must be approved by both houses of legislature.
-Bills must then be signed by chief executive, or vetoed. 2/3 majority of both houses
required to override veto.
What does it mean to "competent" to enter a contract? - Answer-A) Have to be 18 years
of age or older.
B)Have to be mentally competent,
i.e. capable of understanding what they are doing and its consequences.
C) Must not "be deprived of civil
rights,"
What contracts are required to be in writing to be enforceable under the Statute of
Frauds? - Answer--1) Agreements that cannotbe performed within one year of the
making of the contract.
-2) A promise to answer for the debt, default, or miscarriage of another.
AND CORRECT ANSWERS 100%
GUARANTEED PASS
How is administrative law created? - Answer-Regulations are created by delegation of
the legislative power to the administrative agencies.
How is common law created? - Answer-Arises from the interpretation of legal principles
by courts to the specific situation before the court.
How is Constitutional Law modified? - Answer-Federally, it takes 2/3 majority vote.
Can use the power of initiative at the state level.
How is Administrative Law modified? - Answer-Same process as creation.
Get on a commission// council // board
How is Common Law modified? - Answer-Judges modify their interpretation
"Pile on" to an already existing case through amicus curiae.
How can you tell if something is a "good" as that term is defined by Article 2 of the
UCC? - Answer-"Goods" are defined as things which are movable at the time of
identification to the contract for sale. "Goods" also include the unborn young of animals
and growing crops and other identified things attached to realty but does not include
information.
What kinds of transactions are governed by Article 2, Article 2A, Article 7, and Article 9
of the UCC? - Answer-Article 2 deals with transactions made with sale of goods.
Article 2A deals with transactions of leases of goods.
Article 7 deals with warehouse receipts, bills of lading and other documents of title; the
rules governing transactions where you place your goods in the care of someone else.
Article 9 delas with secured transactions, including intangible property.
, Are real estate transactions such as land leases and mortgages governed by the UCC?
- Answer-Real estate transactions are governed by statutory law. Not through Uniform
Commercial Code.
What is the definition of "the law?" - Answer-A body of rules that can be enforced by the
authority of a government: federal, state and local
Constitutional Law - Answer-fundamental law of a government establishing its powers
and limitations
Administrative Law - Answer-the body of agency made law consisting of administrative
rules, regulations and enforceable policies
Statutory Law - Answer-The codified laws passed by a government's legislative body
Common Law - Answer-a system of law based on precedent and customs
How is Constitutional Law created? - Answer-Established through constitutional
convention
How is statutory law created? - Answer-Process is essentially the same at federal and
state levels:
- Bill is proposed by legislator in one house (and at federal level, revenue bills must
originate in the House).
-Bill must be approved by both houses of legislature.
-Bills must then be signed by chief executive, or vetoed. 2/3 majority of both houses
required to override veto.
What does it mean to "competent" to enter a contract? - Answer-A) Have to be 18 years
of age or older.
B)Have to be mentally competent,
i.e. capable of understanding what they are doing and its consequences.
C) Must not "be deprived of civil
rights,"
What contracts are required to be in writing to be enforceable under the Statute of
Frauds? - Answer--1) Agreements that cannotbe performed within one year of the
making of the contract.
-2) A promise to answer for the debt, default, or miscarriage of another.
