MGMT 311 (TAMU) Exam 1 Texas A & M University-College Station | Questions with 100% Verified Answers | Latest Update

MGMT 311 (TAMU) Exam 1 Texas A & M University-College Station |
Questions with 100% Verified Answers | Latest Update
Question: law
Answer:
consists of enforceable rules governing relationships among individuals and between individuals and
their society.

Question: 4 sources of law
Answer:
constitutions, statutory law, administrative law, common law

Question: constitutions
Answer:
establishes organization, powers, and limits of governments. SUPREME LAW OF THE LAND

Question: 10th amendment
Answer:
reserves all powers not granted to federal government to states. *we are mostly governed by the state we
live in*

Question: statutory law
Answer:
created by the U.S. Congress or state legislatures "S"tatuatory = "S"pecial people create it

Question: state constitutions
Answer:
highest form of law within borders of that state

Question: federal statues
Answer:
laws passed that apply to ALL states

Question: state statutes
Answer:
laws passed that only apply WITHIN that state

Question: municipal/county government

,Answer:
enacts ordinances, which govern matters not covered by state or federal law.

Question: uniform laws
Answer:
A model law developed by the National Conference of Commissioners on Uniform State Laws for the
states to consider enacting into statute

Question: uniform laws
Answer:
a state may adapt all of part of this type of law as written or rewrite it

Question: UCC
Answer:
Uniform Commercial Code most accepted uniform law; adopted in all 50 states

Question: administrative law
Answer:
The body of law created by administrative agencies (in the form of rules, regulations, orders, and
decisions) in order to carry out their duties and responsibilities.

Question: executive agencies
Answer:
subject to the authority of the president, who has the power to appoint and remove their officers Ex)
Federal Drug Administration

Question: independent regulatory agencies
Answer:
Federal regulatory agencies that are independent, thus not fully under the power of the president. Serve a
fixed term and officers do not change with the change in presidency. Ex. Federal Trade Commission,
Securities and Exchange Commission.

Question: Common (Case) Law
Answer:
a body of unwritten laws based on legal precedents and customs established by the courts

Question: Courts of LAW and Remedies at LAW
Answer:

, a court of law is limited to awarding payments of money or property as compensation

Question: Special Damages
Answer:
A form of compensatory damages that awards a sum of money for specific, identifiable expenses
associated with the injured person's loss, such as medical expenses or lost wages. out of pocket,
quantifiable losses loss of time, money or property damages

Question: special damages
Answer:
also known as "hard' damages

Question: General Damages
Answer:
non-monetary aspects of harm.. also known as 'soft' damages pain and suffering, injury to reputation,
mental anguish, disfigurement, loss of earning capacity

Question: Punative/Exemplary Damages
Answer:
purpose is to punish wrongdoer

Question: Nominal Damages
Answer:
A small monetary award (often one dollar) granted to a plaintiff when NO actual damage was suffered.
there is a technical wrong but no actual harm

Question: Courts at EQUITY & Remedies at EQUITY
Answer:
money or something of value is not enough. only available if legal remedies (money damages) are
legally inadequate

Question: Specific Performance
Answer:
part of a court will award an item to one party. Ex) house in a divorce

Question: injunction
Answer:
an authoritative command or order to stop one party from taking an action or to undo some wrong/injury