Business Law 1 - Exam 1 questions with answers

Business Law 1 - Exam 1 questions with answers The law - correct answer Rules that govern two types of relationships What are the two types of relationships that the law governs? - correct answer 1.Among individuals 2. Between individuals and society Legal Philosophy - what three places does the law come from? - correct answer 1. Naturalists (natural) 2. Positivist (positive) 3. Realist (real) Naturalists believe: - correct answer They believe that moral and ethical pineapples are inherent in human nature (a part of human nature) so that's why we all have a set of morals and ethics Positivist believe: - correct answer They believe the law is created by a particular society at a particular point in time (despite whether the law is good or bad or their feelings, they will follow the law Realists believe: - correct answer They believe focusing on judges and the importance about them What are the three things realists think judges should do? - correct answer 1. Judges are influence by their own beliefs and attitudes making them partial 2. Precedent (past law should be followed if appropriate) 3. Extra judicial/extra legal (things outside the law) should be considered to help the judge make a well-rounded decision What is the main source of American law? - correct answer Common Law Common Law - correct answer (judge made law, case law) means that we rely on cases 1. Give the judge cases that are similar to the one you are working on 2. Precedent - the judge stands on prior decisions and follows previous case rulings