Test Bank for Business Law Text & Cases – An Accelerated.pdf

Test Bank for Business Law: Text & Cases – An Accelerated
Course, 14th Edition, Roger LeRoy Miller

, True / False

1. Laws and government regulations affect almost all business activities.
a. True
b. False
ANSWER: True

2. Law consists of enforceable rules governing relationships among individuals and between individuals and their society.
a. True
b. False
ANSWER: True

3. Many different laws may affect a single business transaction.
a. True
b. False
ANSWER: True

4. Business decision makers are expected to make decisions that are ethically sound.
a. True
b. False
ANSWER: True

5. A key to avoiding business disputes is to go ahead without thinking ahead.
a. True
b. False
ANSWER: False

6. Statutory law does not include county ordinances.
a. True
b. False
ANSWER: False

7. The stability and predictability of the law are essential to business activities.
a. True
b. False
ANSWER: True

8. Remedies in equity include specific performance.
a. True
b. False
ANSWER: True

9. “UCC 2–207(1)” is a citation to Uniform Commercial Code Section 2–207, subsection 1.
a. True
b. False
ANSWER: True

10. The courts, in interpreting statutory law, may rely on sources outside of the statute (such as common law precedents)