BLAW 341 Exam 1 Questions & Answers 2026 – Business Law Exam Prep & Study Guide

BLAW 341 Exam 1 Questions and Answers 2026 | Business Law Exam
Prep & Study Guide
WhatxisxLaw?x-
xcorrectxanswerx ✅Lawxisxaxsetxofxenforceablexrulesxgoverningxrelationshipsxamongxindividualsxandx
betweenxindividualsxandxtheirxsociety.xLawsxestablishxrights,xduties,xandxprivilegesxconsistentxwithxthexv
aluesxandxbeliefsxofxaxsocietyxorxitsxrulingxgroup.



Howxdoesxlawxhelpxus?x-
xcorrectxanswerx ✅Lawxkeepsxsocietyxsailingxsmoothly.xLawxprovidesxpredictabilityxandxstabilityxinxo
urxtransactions.



WhoxmakesxlawxinxthexUS?x-
xcorrectxanswerx ✅Lawxisxmadexbyxlegislativexbodiesxandxbyxjudicialxbodies.xPicturesxarexrepresenta
tivexofxthexlegislativexandxjudicialxbodiesxthatxoccurxatxthexfederal,xstate,xandxlocalxlevel.x(Pleasexnote:xf
ederal,xstatexandxlocalxlegislativexandxjudicialxentitiesxcanxcreatex"law"xthatxgovernsxinxtheirxparticularxj
urisdictions.)

Also,xadministrativexagenciesxpromulgatexrulesxthatxoftenxfunctionxinxthexsamexmannerxasx"laws."



Listxaxfewxbusinessxsituations/xopportunitiesxthatxmayxarisexwherexlawxplaysxanximportantxrolex-
xcorrectxanswerx ✅Hiring,xFiring,xSafety,xmanufacturing,xmarketing,xfinance,xprivacy,xhealthxcare,xtr
ansportation,xenergyxresourcexmanagement,xsustainability.



Twox"types"xofxSourcesxofxLawx-xcorrectxanswerx ✅A.xPrimaryxSourcesx

establishxlaw



B.xSecondaryxSourcesx

supplementalxmaterialsxthatxsummarizexandxinterpretxthexlaw

(SecondaryxsourcesxarexNOTxlaw)



FourxPrimaryxSourcesxofxLawxinxthexUnitedxStatesx-xcorrectxanswerx ✅A.xConstitutionalxLaw

B.xStatutoryxLaw

C.xAdministrativexLaw

,D.xCasexLaw



WhichxofxthexfollowingxoptionsxisxNOTxax"primaryxsourcexofxlaw"?

Localxordinances

Legalxtreatises

Axcourtxopinion/decision

Axstatexconstitutionx-xcorrectxanswerx ✅LegalxTreatises



WhatxdocumentxisxknownxasxthexsupremexlawxofxthexUS?x-xcorrectxanswerx ✅ThexConstitution



Whatxisxthexrolexofxthexcourtxifxaxquestionxarisesxthatxinvolvesxaxconstitutionalxquestion?x-
xcorrectxanswerx ✅Toxinterpretxandxapplyxthexlaw



StatutoryxLawx-
xcorrectxanswerx ✅Lawsxenactedxbyxfederal,xstate,xandxlocalxgoverningxbodiesx(legislatures,xtownxco
uncils,xetc.)



(ie.xFederalxstatutes,xstatexstatutes,xlocalxordinances.)



ThexNewxYorkxlegislaturexhasxpassedxaxlawxthatxconflictsxwithxaxprovisionxinxthexU.S.xConstitution.xIfxch
allenged:

-Axcourtxwillxnotxenforcexeitherxprovision

-Thexcourtxwillxestablishxaxcompromisexbetweenxthextwoxprovisions

-AxcourtxwillxenforcexthexNewxYorkxstatexprovision

-AxcourtxwillxenforcexthexU.S.xConstitutionx-xcorrectxanswerx ✅-
AxcourtxwillxenforcexthexU.S.xConstitution



ThexNorthxDakotaxstatexlegislaturexhasxpassedxaxprovisionxthatxrequiresxcompaniesxthatxburnxcoalxtoxm
eetxmorexrigorousxcleanxairxstandardsxthanxthosexrequiredxbyxthexU.S.x"CleanxAirxAct."xIfxchallenged,xisx
axcourtxlikelyxtoxenforcexthexNorthxDakotaxlaw?

A.xYes

,B.xNox-xcorrectxanswerx ✅A.xYes



ThexstatesxofxDelawarexandxNewxJerseyxhavexenactedxdifferentxcatchxlimitsxforxrecreationalxflounderxfis
hermen.xDelawarexenactedxitsxcatchxlimitsxpriorxtoxN.J.xThexfederalxgovernmentxhasxnotxenactedxaxfede
ralxcatchxlimit.xIfxchallenged,xwhichxstate'sxlawxwillxbexdeemedxvalid?

A.xDelaware

B.xNJ

C.xBothx-xcorrectxanswerx ✅C.xBoth



Considerxmodel/uniformxcodesxandxchoosexwhichxofxthexfollowingxisxincorrect:

A.xUniformxcodesxarexthexlawxofxthexapplicablexjurisdictionxatxthextimextheyxarexwritten

B.xUniformxcodesxmustxbexadoptedxbyxaxstatexlegislaturexbeforextheyxbecomexlaw

C.xEvenxifxaxuniformxcodexisxnotxenacted,xthexcodexcanxhavexpersuasivexvaluex

D.xAxstatexmayxadoptxpartxofxaxuniformxlaw,xbutxoptxtoxrejectxotherxportionsx-
xcorrectxanswerx ✅A.xUniformxcodesxarexthexlawxofxthexapplicablexjurisdictionxatxthextimextheyxarex
written



FunctionsxofxAdministrativexAgenciesx-
xcorrectxanswerx ✅Rulemakingx(rules,xregulations,xinterpretations).



InvestigationxandxEnforcement.x



Adjudication



Carol,xownerxofxaxlandxdevelopmentxcorporation,xhasxjustxlearnedxthatxthexOfficexofxEnvironmentalxPro
tectionxisxconsideringxadoptingxmorexstringentxtestingxmeasuresxtoxverifyxthexpresencexorxabsencexofxp
rotectedxspeciesxonxundevelopedxland.xWillxCarolxhavexanxopportunityxtoxviewxthexproposedxregulation
sxandxvoicexherxopinionxpriorxtoxofficialxadoptionxofxthexregulations?

A.xYes

B.xNox-xcorrectxanswerx ✅A.xYes

, StarexDecisisx-
xcorrectxanswerx ✅Axcommonxlawxdoctrinexunderxwhichxjudgesxarexobligatedxtoxfollowxthexprecede
ntsxestablishedxinxpriorxdecisions

-
Axhigherxcourt'sxdecisionxbasedxonxcertainxfactsxandxlawxandxlawxisxaxbindingxauthorityxonxlowerxcourtsx
withinxthexSAMExjurisdiction.



ThexNewxJerseyxSupremexCourtxheldxthatxaxminorxcouldxcancelxaxcontractxforxthexpurchasexofxaxcar.xNo
w,xaxlowerxtrialxcourtxinxNJxisxdecidingxaxcasexwithxsimilarxfacts.xUnderxstarexdecisis,xwhichxofxthexfollow
ingxarextrue?x

Thextrialxcourtxisxlikelyxto:

A.xAllowxthexminorxtoxcancelxthexcontract

B.xDisregardxthexpriorxNJxSupremexCourtxcase

C.xRequirexthexminorxtoxfulfillxthexcontractx-
xcorrectxanswerx ✅A.xAllowxthexminorxtoxcancelxthexcontract



Plaintiff(s)x-xcorrectxanswerx ✅injuredxpartyxinitiatingxthexlawsuit



Defendant(s)x-xcorrectxanswerx ✅Partyxwhoxallegedlyxcausedxinjury.



REMEDIESx-xcorrectxanswerx ✅Axmeansxtoxenforcexaxrightxorxcompensatexforxinjuryxtoxthatxright.



TYPESxOFxREMEDIESx-xcorrectxanswerx ✅Remediesxatxlawx



Remediesxinxequity



Remediesxatxlawx-
xcorrectxanswerx ✅Designedxtoxcompensatexindividualxforxactualxloss.xAwardxrestrictedxtox"damage
s"x(payment)xinxeitherxmoneyxorxproperty.