Business Law Exam 1 chapters 1,2,3,4 questions well answered

Business Law Exam 1 chapters 1,2,3,4 questions well answeredLaws and regulations affect virtually ____ - correct answer all business activities Business Decisions are affected by: - correct answer Torts, Agency Law, Product Liability, Intellectual Property Rights, Negotiable Instruments, Creditors' Rights, Sales Law, Contracts, Procedural Law, Courts, Environmental Law, Business Organizations, Local Laws, State Laws, National Laws and many other potential legal factors. Sources of American law: - correct answer -Constitutional law -Statutory law ~Ordinances ~Uniform Laws (NCCUSL) ~Uniform Commercial Code -Administrative Law ~federal agencies ~State and Local agencies ~case law and common law Doctrines The Common law Tradition - correct answer American law is based largely on English Common Law which was based largely on traditions, social customs, rules, and cases dating back to 1066 A.D.Early English Courts: at common law, there were two separate court systems: COURTS OF LAW (monetary relief), and COURTS OF EQUITY (non-monetary relief) based on "notions of justice and fair dealing." Courts of Law: - correct answer an early english court- monetary relief Courts of Equity - correct answer Early english court