BUS 300 Exam 1 comprehensive
Questions and Answers with Verified
Solutions
Question 1:
Purposes of Law (8)
Answer:
1. peacekeeping, 2. personal freedom, 3. planning and actualization of
reasonable expectations 4. contracts, promote/protect competition to
promote economic growth 5. antitrust 6. social justice 7. environmental
protection 8. system of order - consistency and fairness 9. promotes good
faith dealing among merchants and consumers
Question 2:
Public Policy
Answer:
Requirements for a enforceable contract necessitating that the term and
consistent with public policy objectives
Question 3:
Law
Answer:
a body of rules of action or conduct prescribed by controlling authority,
and having legal binding force
,Question 4:
Jurisprudence
Answer:
The science and philosophy of the law that defines various approaches to
the appropriate function of law and how legal doctrines should be
developed and applied
Question 5:
Primary Sources of Law
Answer:
Constitutional law Statutory law Common law Administrative law
Question 6:
Constitutional Law
Answer:
Establishes important legal principles Not designed to specifically resolve
every legal issue or case May require "interpretation" by courts Exists at
state and federal levels
Question 7:
Statutory Law
Answer:
Created by a legislative body Approved or disapproved by the executive
branch
, Question 8:
Common Law
Answer:
Made by appellate courts Based on the fundamentals of previous cases
that had similar facts Also known as "case" law
Question 9:
Administrative Law
Answer:
Source of law that regulates the exercise of authority by government
agencies Also known as "regulations"
Question 10:
have no independent authority, nor are they legally binding. Include the
Restatements of the Law and sets of model statutes Example: Uniform
Commercial Code
Answer:
Secondary Sources of Law
Question 11:
How many articles are in the constitution
Answer:
7
Question 12:
How many amendments are in the constitution
Answer:
27
Questions and Answers with Verified
Solutions
Question 1:
Purposes of Law (8)
Answer:
1. peacekeeping, 2. personal freedom, 3. planning and actualization of
reasonable expectations 4. contracts, promote/protect competition to
promote economic growth 5. antitrust 6. social justice 7. environmental
protection 8. system of order - consistency and fairness 9. promotes good
faith dealing among merchants and consumers
Question 2:
Public Policy
Answer:
Requirements for a enforceable contract necessitating that the term and
consistent with public policy objectives
Question 3:
Law
Answer:
a body of rules of action or conduct prescribed by controlling authority,
and having legal binding force
,Question 4:
Jurisprudence
Answer:
The science and philosophy of the law that defines various approaches to
the appropriate function of law and how legal doctrines should be
developed and applied
Question 5:
Primary Sources of Law
Answer:
Constitutional law Statutory law Common law Administrative law
Question 6:
Constitutional Law
Answer:
Establishes important legal principles Not designed to specifically resolve
every legal issue or case May require "interpretation" by courts Exists at
state and federal levels
Question 7:
Statutory Law
Answer:
Created by a legislative body Approved or disapproved by the executive
branch
, Question 8:
Common Law
Answer:
Made by appellate courts Based on the fundamentals of previous cases
that had similar facts Also known as "case" law
Question 9:
Administrative Law
Answer:
Source of law that regulates the exercise of authority by government
agencies Also known as "regulations"
Question 10:
have no independent authority, nor are they legally binding. Include the
Restatements of the Law and sets of model statutes Example: Uniform
Commercial Code
Answer:
Secondary Sources of Law
Question 11:
How many articles are in the constitution
Answer:
7
Question 12:
How many amendments are in the constitution
Answer:
27
