BUSINESS LAW: FINAL EXAM STUDY GUIDE
UPDATED ACTUAL QUESTIONS AND CORRECT
ANSWERS
Question:
1. constitution
Answer:
The document that sets forth the framework of a government and its relationship
to the people it governs.
Question:
2. Common law
Answer:
based upon the current standards or customs of the people.
Question:
3. positive law
Answer:
Law that is dictated from above by a sovereign or other central authority
Question:
4. business ethics
Answer:
Ethical principles used in making business decisions
Question:
5. Guidelines
Answer:
Laws made by administrative agencies
Question:
6. stare decisis
Answer:
Doctrine that requires lower courts to adhere to existing case law in making
decisions
, Question:
7. ordinances
Answer:
Legislative actions taken by city or town councils
Question:
8. statutes
Answer:
Laws enacted by state or federal legislative bodies
Question:
9. case law
Answer:
The type of law made when an appellate court endorses a rule to be used in
deciding court cases
Question:
10. ethics
Answer:
A collection of standards of conduct and moral judgment forming the basis for a
reasoned, impartial decision as to what is right and what is wrong
Question:
11. Thomas Jefferson
Answer:
author of the Declaration of Independence
Question:
12. the preamble to the U.S. Constitution (quote it)
Answer:
We, the people, in order to form a more perfect union, establish justice, insure
domestic tranquility, provide for the common defense, promote the general
welfare, and secure the blessings of liberty to ourselves and our prosperity.....
Question:
13. Bill of Rights
Answer:
The first 10 amendments to the constitution
UPDATED ACTUAL QUESTIONS AND CORRECT
ANSWERS
Question:
1. constitution
Answer:
The document that sets forth the framework of a government and its relationship
to the people it governs.
Question:
2. Common law
Answer:
based upon the current standards or customs of the people.
Question:
3. positive law
Answer:
Law that is dictated from above by a sovereign or other central authority
Question:
4. business ethics
Answer:
Ethical principles used in making business decisions
Question:
5. Guidelines
Answer:
Laws made by administrative agencies
Question:
6. stare decisis
Answer:
Doctrine that requires lower courts to adhere to existing case law in making
decisions
, Question:
7. ordinances
Answer:
Legislative actions taken by city or town councils
Question:
8. statutes
Answer:
Laws enacted by state or federal legislative bodies
Question:
9. case law
Answer:
The type of law made when an appellate court endorses a rule to be used in
deciding court cases
Question:
10. ethics
Answer:
A collection of standards of conduct and moral judgment forming the basis for a
reasoned, impartial decision as to what is right and what is wrong
Question:
11. Thomas Jefferson
Answer:
author of the Declaration of Independence
Question:
12. the preamble to the U.S. Constitution (quote it)
Answer:
We, the people, in order to form a more perfect union, establish justice, insure
domestic tranquility, provide for the common defense, promote the general
welfare, and secure the blessings of liberty to ourselves and our prosperity.....
Question:
13. Bill of Rights
Answer:
The first 10 amendments to the constitution
