BUSINESS LAW EXAM 1 (CH. 1,2,3,6,7) QUESTIONS WITH COMPLETE SOLUTIONS, RATED A+

law - A body of enforceable rules governing relationships among individuals and between individuals and their society. Primary sources of law - 1. The U.S. Constitution and the constitutions of the various states. 2. Statutory law—including laws passed by Congress, state legislatures, or local governing bodies. 3. Regulations created by administrative agencies, such as the Food and Drug Administration. 4. Case law and common law doctrines. Secondary sources of law - books and articles that summarize and clarify the primary sources of law. Examples include legal encyclopedias, treatises, articles in law reviews, and compilations of law, such as the Restatements of the Law. Courts often refer to secondary sources of law for guidance in interpreting and applying the primary sources of law discussed here. constitutional law - Law that is based on the U.S. Constitution and the constitutions of the various states. (supreme law of the land) state constitutional law - Each state in the union has its own constitution. Unless it conflicts with the U.S. Constitution or a federal law, a state constitution is supreme within the state's borders. statutory law - The body of law enacted by legislative bodies (as opposed to constitutional law, administrative law, or case law). When a legislature passes a statute, that statute ultimately is included in the federal code of laws or the relevant state code of laws. ordinances - A law passed by a local governing unit, such as a municipality or a county. Ordinances commonly have to do with city or county land use (zoning ordinances), building and safety codes, and other matters affecting the local community. uniform law - A model law created by the National Conference of Commissioners on Uniform State Laws and/or the American Law Institute for the states to consider adopting. If the state adopts the law, it becomes statutory law in that state. Each state has the option of adopting or rejecting all or part of a uniform law administrative law - 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. administrative agency - A federal, state, or local government agency established to perform a specific function. Administrative agencies are authorized by legislative acts to make and enforce rules to administer and enforce the acts. executive agencies - An administrative agency within the executive branch of government. At the federal level, executive agencies are those within the cabinet departments. (ex. FDA, subject to authority of the president.) case law and common law doctrines - Judge-made law, including interpretations of constitutional provisions, of statutes enacted by legislatures, and of regulations created by administrative agencies. remedies - The relief given to an innocent party to enforce a right or compensate for the violation of a right. specific performance - involves ordering a party to perform an agreement as promised. injunction - is an order to a party to cease engaging in a specific activity or to undo some wrong or injury.