BUL 3130 EXAM 1 QUESTIONS WITH VERIFIED ANSWERS LATEST UPDATE 2026

BUL 3130 EXAM 1 QUESTIONS WITH VERIFIED ANSWERS LATEST UPDATE 2026 Law - Answers is a system of authoritative rules, principles, institutions, and processes through which a political community regulates conduct, recognizes rights and duties, allocates governmental and private power, resolves disputes, provides remedies, protects public and private interests, and maintains social and economic order Rule become a law... - Answers when it is recognized or enforceable through a legitimate lawmaking or adjudicative institution law vs morality - Answers law is a set of rules and regulations. morality refers to ethical code of conduct for humans law vs ethics - Answers law is what is legally permitted. ethics ask whether conduct is right, fair, responsible, or consistent with values jurisprudence - Answers defined as the science and philosophy of law. Natural- law theory - Answers associates valid law with principles of reason, justice, morality, or human nature. An enactment that is profoundly unjust may lack moral legitimacy even if formally enacted Legal positivism - Answers emphasizes the validity of law and depends on its source and manner of adoption rather than its moral desirability. A rule may be legally valid even if morally objectionable, provided it was created by an institution possessing recognized authority. Historical school - Answers laws develop through custom, experience, social practices, judicial decisions, gradual political evolution. Legal realism - Answers how a law operates in practice rather than only writing. Looks at judicial behavior, institutional incentives, enforcement discretion, litigation costs, bargaining costs, economic and social consequeces sociological jurisprudence - Answers views laws as a social institution designed to accommodate competing interest and promote workable social arrangments law vs economics - Answers evaluates legal rules through concepts like efficiency, incentives, transaction costs, agency costs, risk allocation Purposes of Law - Answers - provide for some system of order that defines rules of conduct and levies punishment for the violation of rules - method for resolving disputes by providing a basis for deciding the legal interests and rights of the parties - creating reliability in business planning and commercial transactions by promoting good faith dealing among merchants and consumers Common law - Answers law made by the courts Role of counsel as advisor and litigator... - Answers can become an analyst and advisor internal counsel - Answers deep knowledge of the business and easy access from company to counsel Lawyer represents - Answers the corporation or entity. Does not automatically represent the CEO, direcetors, employees, shareholders, or affiliates attorney-client privilege - Answers right of individual to have discussions with his/her attorney kept private and confidential. The privilege belongs to the clients NOT the attorney. Evidentiary privilege. counsel's role in decision quality... - Answers counsel should help management distinguish among what is lawful, unlawful, uncertain, lawful but imprudent, lawful but unethical, legally defensible but inconsistent with company values,, and commercially desirable but requires risk mitigation counsel as a translator of legal risk... - Answers should explain the governing rule, relevant facts, probability of an adverse legal conclusion, likely severity of consequences, available mitigation, cost of mitigation, residual uncertainty, and the decision maker who owns the risk Constitutional law - Answers is the foundation for all other law in the US and is the supreme law of the land consitutional law- - Answers 1. establishes structure for federal and state governments setting rules for amending the Constitution and granting specific enumerated powers to the different branches of government 2. establishes the concept of federalism, allowing for federal and state governments to share powers 3. establishes individual civil rights and providing procedural protections for US citizen from wrongful government actions statutory law - Answers is enacted by legislatures. ordinances - Answers written laws at the local level. generally regulatlate issues such as zoning or impose health and safety regulations statues - Answers written laws that are passed by the federal or state legislature then either approved or rejected by the executive branch plain meaning rule - Answers if the words in the statue have clear and widely understood meanings, the court applies the stature in accordance with the rule statutory scheme - Answers structure of the statue and the format of its mandates in a law administrative law - Answers governs the creation, authority, procedure, and review of governmental agencies. Agencies generally act under authority delegated by Congress or state legislatures. AKA regulations.. source of law that regulates the exercise of authority by government agencies Stare Decisis - Answers to stand by precedent and no to disturb what is settled. Precedents and rules must be followed unless flatly absurd or unjust Doctrine of Stare Decisis - Answers the principle that similar cases with similar facts and issues should have the same judicial outcome. *one of the most important concepts in American law precedent - Answers applying the law of previous cases to current cases with substantially similar circumstances vertical stare decisis - Answers requires lower courts to follow controlling decisions of superior courts within the same judicial hierarchy horizontal stare decisis - Answers concerns whether a court follows its own prior decisions holding - Answers legal rule necessary to decide the case based on its material facts dictum - Answers judicial statement not necessary to the outcome student method - Answers identify the holding, state material facts, identify legal issue, determine the rule applied, identify the reasoning essential to the outcome, separate broader commentary from necessary reasoning distinguishing a precedent... - Answers a court distinguishes rather than overrules a precedent when it finds a legally material factual or doctrinal difference overruling a precedent... - Answers a court rejects the legal rule of an earlier case secondary sources of law - Answers have no independent authority and are not legally binding. 1. restatements of the law 2. model state statues uniform model law - Answers drafted by legal experts, for the purpose of establishing uniform standards in areas of law where national interests would be achieved through use of uniform laws. think UCC civil laws - Answers designed to compensate parties for losses as a result of another's conduct criminal laws - Answers designed to protect society, and the violation of criminal laws results in penalties to the violator such as fines or imprisionment substantive laws - Answers provide individuals with rights and create certain duties procedural laws - Answers provide a structure and set out rules for pursuing substantive rights Law vs equity - Answers used when describing the appropriate measure of judicial action intended to compensate an injured party in a civil lawsuit AKA remedies remedies normally take the form of - Answers money damages public laws - Answers those derived from some government entity private laws - Answers recognized as binding between two parties even though no specific statue or regulation provides for the rights of the parties equity aids the vigilant - Answers the law favors those who exercise vigilance in pursuing their claims and disfavors those who rest on their legal rights by failing to act to protect their rights in a reasonable period of time substance over form - Answers when applying the law, courts look to the intent of parties involved and adhere to a standard of good faith instead of applying the black letter law in a way that would violate fundamental principles of fairness and consistency clean hands doctrin - Answers courts are not inclined to decide a dispute based on technicalities that benefited a party who acted dishonestly The constitution provides a... - Answers empowered and limited government. establishes the structure of the government, defines political relationships, gives rights vested to the gov popular soveregnity - Answers government derives its authority from the people. republican government - Answers The constitution establishes the representative institutions rather than direct national democracy. citizens ordinarly exercise political authority through elected representatives Separation of powers - Answers federal authority is divided among three branches. also utilizes checks and balances federalism - Answers divides governmental authority between the national, state governments constitutional supremacy - Answers "Supreme law of the land", valid federal law prevails over conflicting state law corporate governance - Answers organization's modus operandi comprising rules, policies, and procedure. These guidelines control the business. The foundation of an organization's functioning and business contract functions of the US constitution - Answers 1. establishes structure for federal gov 2. delegates enumerated and limited powers 3. provides procedural protections to citizens, persons, and firms Structure of the constitution - Answers Preamble, 7 articles, 27 amendments Article 1 of Constitution - Answers Congress has the... 1. power to regulate commerce (Commerce Clause) 2. power to tax and power to spend government funds 3. the power to regulate bankruptcy, patents, and copyrights 4. Congress has a general implied power to make all laws necessary for carrying out enumerated powers (Necessary and Proper clause) Article 2 of the Constitution - Answers Executive branch/ President has the... 1. power to carry out laws made by Congress 2. power to enter into treaties and carry out foreign policy 3. power to appoint federal officers and judges executive orders - Answers have the force of law and are typically issued by the president as a method to carry out executive functions of the government Article 3 of the Constitution - Answers the federal judiciary adjudicates (decides) cases and controversies that fall within its authority. Jurisdiction is the legal authority of a court to decide a specific case judicial review - Answers the notion that federal courts have the right to invalidate state or federal laws that are inconsistent with the US Constitution in some way. came from the 1803 case Marbury v. Madison. Supreme Court is the final arbiter of legal disputes within the jurisdiction granted it by the US constitution Judicial review is classified into one of three categories - Answers 1. rational basis 2. intermediate-level scruntiny 3. strict scrunity strict scrunity - Answers form of judicial review that courts use to determine the constitutionality of certain laws. Often used when a plaintiff sues the government for discrimination. Highest standard of review which a court will use to evaluate the constitutionality of governmental discrimination