Legal and Regulatory
ST
Environment of Business
UV
16th Edition
IA
TEST BANK
_A
PP
Marisa Anne Pagnattaro
RO
────────────────────────────────────────────────────
Comprehensive Test Bank for Instructors
VE
and Students
© Marisa Anne Pagnattaro.
D?
All rights reserved. Reproduction or distribution without permission is prohibited.
?
© MedConnoisseur
, Test Bank for Legal and Regulatory Environment of Business (16th Edition)
Marisa Anne Pagnattaro
PART ONE: INTRODUCTION — LEGAL FOUNDATIONS FOR BUSINESS
Chapter 1. Law as a Foundation for Business
ST
Chapter 2. The Role of Ethics in Decision Making
Chapter 3. Understanding the Court System
Chapter 4. Litigation
Chapter 5. Alternative Dispute Resolution
UV
Chapter 6. The Constitution
PART TWO: BASIC LEGAL PRINCIPLES
Chapter 7. The Property System
Chapter 8. Contract Formation
IA
Chapter 9. Contractual Performance and Breach
Chapter 10. Torts Affecting Business
Chapter 11. Intellectual Property
_A
Chapter 12. Global Expansion and International Law
Chapter 13. Criminal Law and Business
Chapter 14. Business Organizations
PART THREE: THE REGULATORY LANDSCAPE FOR BUSINESS
PP
Chapter 15. The Regulatory Process
Chapter 16. Regulating Competition—Antitrust Laws
Chapter 17. Financial and Securities Regulations
Chapter 18. Privacy and Consumer Protection
RO
Chapter 19. Environmental Regulation and Resource Sustainability
PART FOUR: THE EMPLOYER–EMPLOYEE RELATIONSHIP
Chapter 20. Employment Discrimination Laws
Chapter 21. Employer Responsibilities and Employee Rights—Employment Laws
VE
Chapter 22. Labor–Management Relationship
D?
?
© MedConnoisseur
, 1
Student: ___________________________________________________________________________
1. Law and "rule of law" are synonymous terms.
True False
ST
2. The first known written set of laws was the Code of Hammurabi.
True False
3. Rule-of-law nations adopt laws supporting the private market because it is in everyone's interest,
including the lawmakers'.
UV
True False
4. Common property, applies to public resources owned by the government (or "state") like roads, public
buildings, public lands, and monuments.
True False
5. Contract law compensates owners whose resources are wrongfully harmed by the actions of others.
IA
True False
6. The secret to economic prosperity and the wealth of nations lies in the foundation of property law and the
legal system to implement it under the rule of law.
_A
True False
7. Jurisprudence is the rule of law.
True False
8. Natural law theory asserts that law contains universal moral principles.
PP
True False
9. Sociological jurisprudence emphasizes that contemporary law should focus on legal principles that have
withstood the test of time in a nation.
True False
RO
10. Jurisprudence refers to the general body of law interpretations by judges as different from legislation
passed by legislators.
True False
11. Legal realism is the idea that courts should understand the meaning of the Constitution relative to the
VE
times in which they interpret it.
True False
12. The United Kingdom, the United States, Canada, Jamaica, India, Nigeria, New Zealand, and a few other
countries—all colonized by England—follow the common law.
True False
D?
13. Civil law arose in the eleventh and twelfth centuries as the English monarch appointed royal judges
to ride circuits around the English countryside and to resolve disputes in the name of the king (or
queen).
True False
?
14. Louisiana is the only state in the U.S. that follows a partial civil law system due to Louisiana's historical
ties with France, a civil law nation.
True False
15. Common law relies more on legislation than judicial decisions to determine what the law is.
True False
, 16. In administrative law, a government official represents society, or "the people," and the official is
responsible for seeking justice to achieve the ends of society.
True False
17. Although property law is categorized as one kind of private law; in our legal system, it is at the heart of
both public and private law.
True False
18. Contract law often but not always requires actual injury to the owner's resources.
True False
ST
19. Legislation passed by the Congress is called a statute or an act.
True False
20. The Second Amendment to the Constitution holds that "No State shall . . . deprive any person of life,
UV
liberty or property without due process of law."
True False
21. Disadvantages of case law do not destroy the benefits of certainty, predictability, and stability provided
by case law and stare decisis.
True False
IA
22. Judges in future cases are not so likely to follow the dicta in prior cases as they are the holdings.
True False
23. Conflicting precedents when applying the principle of stare decisis do not create confidence in the
_A
certainty of law.
True False
24. With reference to the hierarchy of sources of law, Case law prevails over local ordinances.
True False
PP
25. The Fourteenth Amendment to the Constitution recognizes that the law is enforced by taking a person's
life, freedom, or the resources that he or she owns.
True False
26. Whether it's stated in the contract or not, when a breach of contract occurs, the injured party will usually
RO
recover her attorney fees as part of her compensatory damages.
True False
27. The single largest number of lawsuits today, especially in the federal courts, involves one business suing
another business for tortious conduct.
True False
VE
28. Tort law helps protect property boundaries by providing compensation when someone wrongfully crosses
such boundaries.
True False
D?
29. In addition to compensatory damages, breach-of-contract cases may award punitive damages, when the
breaching party knew or had reason to know that special circumstances existed that would cause the other
party to suffer additional losses if the contract were breached.
True False
30. Drake verbally lashes out at his neighbor one evening following a drunken party. He also beats him up
?
when Drake tries to back away from the argument. He is said to have committed a strict liability tort.
True False
31. Corporate governance can fail even when corporate managers do nothing illegal.
True False
ST
Environment of Business
UV
16th Edition
IA
TEST BANK
_A
PP
Marisa Anne Pagnattaro
RO
────────────────────────────────────────────────────
Comprehensive Test Bank for Instructors
VE
and Students
© Marisa Anne Pagnattaro.
D?
All rights reserved. Reproduction or distribution without permission is prohibited.
?
© MedConnoisseur
, Test Bank for Legal and Regulatory Environment of Business (16th Edition)
Marisa Anne Pagnattaro
PART ONE: INTRODUCTION — LEGAL FOUNDATIONS FOR BUSINESS
Chapter 1. Law as a Foundation for Business
ST
Chapter 2. The Role of Ethics in Decision Making
Chapter 3. Understanding the Court System
Chapter 4. Litigation
Chapter 5. Alternative Dispute Resolution
UV
Chapter 6. The Constitution
PART TWO: BASIC LEGAL PRINCIPLES
Chapter 7. The Property System
Chapter 8. Contract Formation
IA
Chapter 9. Contractual Performance and Breach
Chapter 10. Torts Affecting Business
Chapter 11. Intellectual Property
_A
Chapter 12. Global Expansion and International Law
Chapter 13. Criminal Law and Business
Chapter 14. Business Organizations
PART THREE: THE REGULATORY LANDSCAPE FOR BUSINESS
PP
Chapter 15. The Regulatory Process
Chapter 16. Regulating Competition—Antitrust Laws
Chapter 17. Financial and Securities Regulations
Chapter 18. Privacy and Consumer Protection
RO
Chapter 19. Environmental Regulation and Resource Sustainability
PART FOUR: THE EMPLOYER–EMPLOYEE RELATIONSHIP
Chapter 20. Employment Discrimination Laws
Chapter 21. Employer Responsibilities and Employee Rights—Employment Laws
VE
Chapter 22. Labor–Management Relationship
D?
?
© MedConnoisseur
, 1
Student: ___________________________________________________________________________
1. Law and "rule of law" are synonymous terms.
True False
ST
2. The first known written set of laws was the Code of Hammurabi.
True False
3. Rule-of-law nations adopt laws supporting the private market because it is in everyone's interest,
including the lawmakers'.
UV
True False
4. Common property, applies to public resources owned by the government (or "state") like roads, public
buildings, public lands, and monuments.
True False
5. Contract law compensates owners whose resources are wrongfully harmed by the actions of others.
IA
True False
6. The secret to economic prosperity and the wealth of nations lies in the foundation of property law and the
legal system to implement it under the rule of law.
_A
True False
7. Jurisprudence is the rule of law.
True False
8. Natural law theory asserts that law contains universal moral principles.
PP
True False
9. Sociological jurisprudence emphasizes that contemporary law should focus on legal principles that have
withstood the test of time in a nation.
True False
RO
10. Jurisprudence refers to the general body of law interpretations by judges as different from legislation
passed by legislators.
True False
11. Legal realism is the idea that courts should understand the meaning of the Constitution relative to the
VE
times in which they interpret it.
True False
12. The United Kingdom, the United States, Canada, Jamaica, India, Nigeria, New Zealand, and a few other
countries—all colonized by England—follow the common law.
True False
D?
13. Civil law arose in the eleventh and twelfth centuries as the English monarch appointed royal judges
to ride circuits around the English countryside and to resolve disputes in the name of the king (or
queen).
True False
?
14. Louisiana is the only state in the U.S. that follows a partial civil law system due to Louisiana's historical
ties with France, a civil law nation.
True False
15. Common law relies more on legislation than judicial decisions to determine what the law is.
True False
, 16. In administrative law, a government official represents society, or "the people," and the official is
responsible for seeking justice to achieve the ends of society.
True False
17. Although property law is categorized as one kind of private law; in our legal system, it is at the heart of
both public and private law.
True False
18. Contract law often but not always requires actual injury to the owner's resources.
True False
ST
19. Legislation passed by the Congress is called a statute or an act.
True False
20. The Second Amendment to the Constitution holds that "No State shall . . . deprive any person of life,
UV
liberty or property without due process of law."
True False
21. Disadvantages of case law do not destroy the benefits of certainty, predictability, and stability provided
by case law and stare decisis.
True False
IA
22. Judges in future cases are not so likely to follow the dicta in prior cases as they are the holdings.
True False
23. Conflicting precedents when applying the principle of stare decisis do not create confidence in the
_A
certainty of law.
True False
24. With reference to the hierarchy of sources of law, Case law prevails over local ordinances.
True False
PP
25. The Fourteenth Amendment to the Constitution recognizes that the law is enforced by taking a person's
life, freedom, or the resources that he or she owns.
True False
26. Whether it's stated in the contract or not, when a breach of contract occurs, the injured party will usually
RO
recover her attorney fees as part of her compensatory damages.
True False
27. The single largest number of lawsuits today, especially in the federal courts, involves one business suing
another business for tortious conduct.
True False
VE
28. Tort law helps protect property boundaries by providing compensation when someone wrongfully crosses
such boundaries.
True False
D?
29. In addition to compensatory damages, breach-of-contract cases may award punitive damages, when the
breaching party knew or had reason to know that special circumstances existed that would cause the other
party to suffer additional losses if the contract were breached.
True False
30. Drake verbally lashes out at his neighbor one evening following a drunken party. He also beats him up
?
when Drake tries to back away from the argument. He is said to have committed a strict liability tort.
True False
31. Corporate governance can fail even when corporate managers do nothing illegal.
True False
