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BUL 3130 Exam 1 – 2026 – Study Guide and Exam Review Material

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This document provides a study guide for BUL 3130 Exam 1, covering foundational concepts in business law. It reviews key topics such as sources of law, the U.S. legal system, contracts, legal reasoning, and court procedures to help students understand essential principles and prepare effectively for the first exam.

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BUL 3130 Exam 1 – 2026 – Study Guide and Exam
Review Material

moral minimum - correct answer ✔✔ the minimum degree of ethical behavior expected of a
business firm, which is usually defined as compliance with the law



plaintiff - correct answer ✔✔ one who initiates a lawsuit



defendant - correct answer ✔✔ one against whom a lawsuit is brought or the accused person in
a criminal proceeding



persuasive authorities - correct answer ✔✔ any legal authority or source of law that a court
may look to for guidance but need not follow when making a decision. when a new case or
situation appears in court.



binding authority - correct answer ✔✔ any source of law that a court must follow when
deciding a case. includes constitution, statutes, regulations, as well as court decisions that are
controlling precedents within the jurisdiction



appeal - correct answer ✔✔ take the decision to superior court



appellant - correct answer ✔✔ the party who takes an appeal from one court to another



appellee - correct answer ✔✔ the party against whom an appeal is taken - the party who
opposes setting aside or reversing the judgement



judicial review - correct answer ✔✔ process by which courts decide on the constitutionality of
legislative enactments and actions of the executive branch

, jurisdiction - correct answer ✔✔ authority of a court to hear and decide a specific action



venue - correct answer ✔✔ geographical district in which an action is tried and from which the
jury is selected - appropriate location for a trial



concurrent jurisdiction - correct answer ✔✔ jurisdiction that exists when a case can be heard in
two different courts. federal or state court.

ex. diversity of citizenship



exclusive jurisdiction - correct answer ✔✔ jurisdiction that exists when a case can be heard only
in a particular court or type of court, such as federal or state court

ex. state: divorce and adoption

federdal: federal crimes, bankruptcy, lawsuits against the U.S, copyright claims



summons - correct answer ✔✔ document informing the defendant that a legal action has been
commenced against him or her and that the defendant must appear in court on a certain date
to answer the plaintiff's complaint. usually delivered by a sheriff/authority



writ of certiorari - correct answer ✔✔ order issued by the supreme court to a lower court
requiring the latter to send it the record of the case for review. the court will not issue a writ
unless at least 4 out of 9 of the justices approve of it



counterclaim - correct answer ✔✔ a claim made by the defendant in a civil lawsuit that in effect
sues the plaintiff



motion - correct answer ✔✔ a procedural request submitted to the court by an attorney on
behalf of his or her client. comes with a notice of motion

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