100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached 4.2 TrustPilot
logo-home
Exam (elaborations)

The Legal And Ethical Environment of Business 3rd Edition By Lisa Johnson - Test Bank

Rating
-
Sold
-
Pages
216
Grade
A+
Uploaded on
08-11-2023
Written in
2022/2023

Complete Test Bank (with Questions Answers)

Institution
Business
Module
Business











Whoops! We can’t load your doc right now. Try again or contact support.

Document information

Uploaded on
November 8, 2023
Number of pages
216
Written in
2022/2023
Type
Exam (elaborations)
Contains
Questions & answers

Subjects

  • business 3rd edition

Content preview

, Chapter 1
Introduction to Law


True/False Questions

1. Decisions about what we should and should not do are guided exclusively by the law and
nothing else
False; Easy

2. The study of law can help a business owner understand how to start and operate a business,
regulation, and liability.
True; Easy

3. Frivolous lawsuits are permitted to advance in the legal system as most attorneys are
committed to justice and fairness.
False; Easy

4. A person violating a social norm or custom will face strict legal consequences.
False; Moderate

5. Law is a set of rules that are enforced by a government authority.
True; Easy

6. Inalienable law that is superior to human-made laws is known as the philosophy of natural
law.
True; Moderate

7. Legal positivists believe in the power of civil disobedience when a law is unjust.
False; Moderate

8. Legal positivists do not believe that law is simply power, because they believe that valid law
must be created pursuant to the existing rules that allow the law to be created.
True; Easy

9. Insider trading is the use of public information to buy or sell a stock to make money.
False; Moderate

10. For a legal realist, knowing who is enforcing the law is far more important than what the law
actually says.
True; Easy

11. Natural law is the idea that humans possess certain inalienable rights that are the products of
human-made law.
False; Easy

12. Civil rights activists never rely on natural law arguments to advance their platforms.
False; Moderate

© 2017 by FlatWorld

,13. Uniform codesand journal articles are primary sources of law.
False; Moderate

14. Secondary sources of law are created by a recognized, legitimate law-creating authority rather
than by legal scholars.
False; Moderate

15. Statutory law is law created by the U.S. Constitution.
False; Moderate

16. Public law applies only to people who work in public positions, such as people who work for
the government.
False; Moderate

17. Private laws are legally binding on parties who agree to it.
True; Easy

18. The requirement that a suspect be read his or her Miranda rights before being placed into
police custody is an example of procedural law.
True; Easy

19. A contract outlining terms of a land sale between two companies is an example of public law
in action.
False; Moderate

20. All examples of civil law are also considered criminal; they are merely tried in civil courts.
False; Moderate

21. A state law passed in 2011 would override a federal law pertaining to the same issue
in 2006.
False;Moderate

22. A bicameral legislature is one in which at least two bodies exist, such as the Senate and the
House of Representatives in Congress.
True; Moderate

23. A system in which power is divided between multiple forms of government is called
federalism.
True; Easy

24. All states are granted an equal number of senators, with the number of representatives
determined by the most recent census figures.
True; Moderate

25. Constitutions, statutes and judicial opinions would all be examples of primary sources of law.
True; Easy

26. Rule of law is a system of laws under which the people and the government are bound, which
allows predictability and restraint of government action.
True; Easy

© 2017 by FlatWorld

, 27. The Founding Fathers of the United States rejected inclusion of concepts from all prior forms
of government when writing the U.S. Constitution, because none of the prior governments
ever worked.
False; Moderate

28. The United States was the originator of the rule of law system.
False; Moderate

29. Secondary sources of law in the United States include constitutional law.
False; Easy

30. Rule of law systems clearly lay out an organizational structure in which it is determined who
has the right to govern.
True; Moderate

31. An ex post facto law is a type of law that is applied retroactively to its passage.
True; Easy

32. The rule of law provides protection for property.
True; Easy

33. If a person sells firearms in a retail capacity in the United States, the person would be subject
to both state and federal laws.
True; Easy

34. Under the Uniform Commercial Code (UCC), merchants are governed by a set of rules that
anticipate and allow for flexibility in contractual terms, to facilitate business needs.
True; Moderate

35. Congress has enacted antitrust legislation that precludes anticompetitive practices, such as
colluding and price fixing.
True; Easy

36. Since everyone is subject to the rule of law, this means that government itself cannot
overextend its reach when regulating or investigating businesses.
True; Easy

37. Largely as a result of the fallout from the Enron case, Congress passed the Emergency
Economic Stabilization Act.
False; Easy

38. A Ponzi scheme is also known as a pyramid scheme.
False; Moderate

39. The Truth in Lending Act (TILA) guarantees the borrower access to capital on the basis that
they have provided truthful information to the lender.
False; Moderate

40. Title VII of the Civil Rights Act prohibits discrimination related to protected characteristics
in hiring and employment practices.

© 2017 by FlatWorld

Get to know the seller

Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
premiumbiz379 American InterContinental University
View profile
Follow You need to be logged in order to follow users or courses
Sold
109
Member since
2 year
Number of followers
42
Documents
1863
Last sold
1 month ago
The Best Tutor

We help students with their exams and provides them A+ Study resources to pass their exams easily

4.0

9 reviews

5
6
4
1
3
0
2
0
1
2

Recently viewed by you

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their exams and reviewed by others who've used these revision notes.

Didn't get what you expected? Choose another document

No problem! You can straightaway pick a different document that better suits what you're after.

Pay as you like, start learning straight away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and smashed it. It really can be that simple.”

Alisha Student

Frequently asked questions