CHAPTER 1: THE LEGAL ENVIRONMENT
OF BUSINESS | PRACTICE QUESTIONS
AND CORRECT VERIFIED ANSWERS |
GUARANTEED PASS | NEWEST 2026 |
ALREADY GRADED A+ | BRAND NEW
VERSION!!!!!!!
Business Law - CORRECT ANSWER consists of the enforceable rules of conduct that govern
commercial relationships
Private Law - CORRECT ANSWER regulates disputes between private individuals and groups
ex. if a store owner is delinquent in paying rent to the landlord the dispute would be governed
by this type of law
Public Law - CORRECT ANSWER controls disputes between private individuals or groups and
their government
ex. if a store dumps waste behind its building in violation of local, state or federal environmental
regulations the dispute would be governed by this type of law
, Civil Law - CORRECT ANSWER delineates the rights and responsibilities implied in relationships
between persons and between persons and their government. It also identifies remedies
available when someone's rights are violated
Criminal Law - CORRECT ANSWER regulates incidents in which someone commits an act against
the public as a whole, such as by conducting insider trading on the stock exchange
Cyberlaw - CORRECT ANSWER adaptations of current laws governing business to fit the new
retailers
Sources of Business Law - CORRECT ANSWER Constitutions
Statues
Cases
Administrative Law
Treaties
Executive orders
Schools of Jurisprudence
Constitutional Law - CORRECT ANSWER the general limits and powers of these governments as
stated in their written constitutions, the supreme law of the land
Statutory Law - CORRECT ANSWER the assortment of statutes, or rules and regulations put
forth by legislatures
- written into the United States Code when approved by congress
Model or uniform law - CORRECT ANSWER serve as a basis for some statutory law at the state
level
OF BUSINESS | PRACTICE QUESTIONS
AND CORRECT VERIFIED ANSWERS |
GUARANTEED PASS | NEWEST 2026 |
ALREADY GRADED A+ | BRAND NEW
VERSION!!!!!!!
Business Law - CORRECT ANSWER consists of the enforceable rules of conduct that govern
commercial relationships
Private Law - CORRECT ANSWER regulates disputes between private individuals and groups
ex. if a store owner is delinquent in paying rent to the landlord the dispute would be governed
by this type of law
Public Law - CORRECT ANSWER controls disputes between private individuals or groups and
their government
ex. if a store dumps waste behind its building in violation of local, state or federal environmental
regulations the dispute would be governed by this type of law
, Civil Law - CORRECT ANSWER delineates the rights and responsibilities implied in relationships
between persons and between persons and their government. It also identifies remedies
available when someone's rights are violated
Criminal Law - CORRECT ANSWER regulates incidents in which someone commits an act against
the public as a whole, such as by conducting insider trading on the stock exchange
Cyberlaw - CORRECT ANSWER adaptations of current laws governing business to fit the new
retailers
Sources of Business Law - CORRECT ANSWER Constitutions
Statues
Cases
Administrative Law
Treaties
Executive orders
Schools of Jurisprudence
Constitutional Law - CORRECT ANSWER the general limits and powers of these governments as
stated in their written constitutions, the supreme law of the land
Statutory Law - CORRECT ANSWER the assortment of statutes, or rules and regulations put
forth by legislatures
- written into the United States Code when approved by congress
Model or uniform law - CORRECT ANSWER serve as a basis for some statutory law at the state
level
