BUSINESS LAW EXAM 1:
CHAPTERS 1,2,4,5
130+ (Latest 2025-2026 Edition) 100% Verified Q&A + Answer Key
Solutions
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This Exam contains: Business Law Exam 1:
✓ Chapters 1,2,4,5
✓ 100% Accurate Questions and Answers
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,Question 1
Law
Correct Answer
A body of rules of conduct prescribed by controlling authority, binding legal force, sanctions or legal
consequences
Question 2
A law tells does NOT tell you
Correct Answer
What is right or wrong
Question 3
A law does tell you
Correct Answer
What your rights and duties are
Question 4
Functions of the law
Correct Answer
keeping the peace, promoting social justice, facilitating orderly change, encouraging compromise,
shaping moral standards, maintaining the status quo, facilitating planning, maximizing individual
freedom
,Question 5
Primary Sources of American Law
Correct Answer
U. S. Constitution, Statutory Law, Administrative Law, Case Law, Common Law
Question 6
Constitutional Law
Correct Answer
Fed and State, Sets out organization, powers and limits
Question 7
State Constitution ____________ conflict with US constitution
Correct Answer
cannot
Question 8
Statutory Law
Correct Answer
Fed and State, laws passed by governing bodies
Question 9
Federal Law applies to
Correct Answer
All states
, Question 10
State Law applies to
Correct Answer
Only that state
Question 11
Administrative Law
Correct Answer
Rules and regulations by administrative agencies (IRS,EPA, any government agency) more
tangible/clarity on statutes
Question 12
Case Law
Correct Answer
Rules of law found in court decisions
Question 13
Common Law
Correct Answer
General rules formed by case law
CHAPTERS 1,2,4,5
130+ (Latest 2025-2026 Edition) 100% Verified Q&A + Answer Key
Solutions
100% Guarantee Pass
This Exam contains: Business Law Exam 1:
✓ Chapters 1,2,4,5
✓ 100% Accurate Questions and Answers
✓ 100% Guarantee Pass - Verified by Experts
✓ Each Question Includes The Correct Answer
✓ Expert-Verified
,Question 1
Law
Correct Answer
A body of rules of conduct prescribed by controlling authority, binding legal force, sanctions or legal
consequences
Question 2
A law tells does NOT tell you
Correct Answer
What is right or wrong
Question 3
A law does tell you
Correct Answer
What your rights and duties are
Question 4
Functions of the law
Correct Answer
keeping the peace, promoting social justice, facilitating orderly change, encouraging compromise,
shaping moral standards, maintaining the status quo, facilitating planning, maximizing individual
freedom
,Question 5
Primary Sources of American Law
Correct Answer
U. S. Constitution, Statutory Law, Administrative Law, Case Law, Common Law
Question 6
Constitutional Law
Correct Answer
Fed and State, Sets out organization, powers and limits
Question 7
State Constitution ____________ conflict with US constitution
Correct Answer
cannot
Question 8
Statutory Law
Correct Answer
Fed and State, laws passed by governing bodies
Question 9
Federal Law applies to
Correct Answer
All states
, Question 10
State Law applies to
Correct Answer
Only that state
Question 11
Administrative Law
Correct Answer
Rules and regulations by administrative agencies (IRS,EPA, any government agency) more
tangible/clarity on statutes
Question 12
Case Law
Correct Answer
Rules of law found in court decisions
Question 13
Common Law
Correct Answer
General rules formed by case law
