Business Law Final Exam
Study Guide 2026 |
Practice Questions,
Answers, Rationales &
Exam Review | Complete
Ethics Study Guide
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
, constitution The document that sets forth the framework of a government and its relationship to
the people it governs.
Common law based upon the current standards or customs of the people.
positive law Law that is dictated from above by a sovereign or other central authority
business ethics Ethical principles used in making business decisions
Guidelines Laws made by administrative agencies
stare decisis Doctrine that requires lower courts to adhere to existing case law in making
decisions
ordinances Legislative actions taken by city or town councils
statutes Laws enacted by state or federal legislative bodies
case law The type of law made when an appellate court endorses a rule to be used in
deciding court cases
ethics 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
Thomas Jefferson author of the Declaration of Independence
the preamble to the U.S. Constitution (quote it) 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.....
Study Guide 2026 |
Practice Questions,
Answers, Rationales &
Exam Review | Complete
Ethics Study Guide
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
, constitution The document that sets forth the framework of a government and its relationship to
the people it governs.
Common law based upon the current standards or customs of the people.
positive law Law that is dictated from above by a sovereign or other central authority
business ethics Ethical principles used in making business decisions
Guidelines Laws made by administrative agencies
stare decisis Doctrine that requires lower courts to adhere to existing case law in making
decisions
ordinances Legislative actions taken by city or town councils
statutes Laws enacted by state or federal legislative bodies
case law The type of law made when an appellate court endorses a rule to be used in
deciding court cases
ethics 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
Thomas Jefferson author of the Declaration of Independence
the preamble to the U.S. Constitution (quote it) 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.....
