BLAW 3430 UNT EXAM 1 STUDY GUIDE 2026
COMPLETE QUESTIONS WITH CORRECT
DETAILED ANSWERS || 100% GUARANTEED
PASS <RECENT VERSION>
1. What is the primary function of law in a business context?
A) To maximize government control
B) To provide a framework of rules for orderly business transactions and dispute
resolution
C) To ensure all businesses make a profit
D) To create as many regulations as possible
ANSWER: B) To provide a framework of rules for orderly business
transactions and dispute resolution
2. What is the supreme law of the United States?
A) Federal statutes passed by Congress
B) The U.S. Constitution
C) Regulations from federal agencies
D) State constitutions
ANSWER: B) The U.S. Constitution
3. The doctrine of stare decisis refers to:
A) The power of judicial review
B) The obligation to follow precedent in making judicial decisions
C) The process of filing a lawsuit
D) The separation of powers between state and federal government
ANSWER: B) The obligation to follow precedent in making judicial
decisions
4. A law that is based on current standards or customs of the people is known
as:
A) Common law
B) Constitutional law
C) Statutory law
,D) Administrative law
ANSWER: A) Common law
5. Laws enacted by legislative bodies at any level of government are called:
A) Ordinances
B) Statutes
C) Precedents
D) Regulations
ANSWER: B) Statutes
6. Which of the following is a primary source of law?
A) A legal encyclopedia
B) A law review article
C) The Uniform Commercial Code (UCC)
D) A textbook on business law
ANSWER: C) The Uniform Commercial Code (UCC)
7. The U.S. system of government is based on the principle of:
A) Federalism
B) Universal suffrage
C) Direct democracy
D) Parliamentary supremacy
ANSWER: A) Federalism
8. What is the primary purpose of the Uniform Commercial Code (UCC)?
A) To regulate interstate commerce
B) To standardize state laws governing commercial transactions
C) To replace common law contract principles entirely
D) To create a federal court for business disputes
ANSWER: B) To standardize state laws governing commercial
transactions
9. The power of the courts to determine the constitutionality of a law or action
is called:
A) Stare decisis
B) Judicial review
, C) Jurisdiction
D) Preemption
ANSWER: B) Judicial review
10. If a federal law and a state law conflict, which one prevails under the
Supremacy Clause?
A) The state law
B) The law that was passed first
C) The federal law
D) The law that is more specific
ANSWER: C) The federal law
11. Which school of legal thought emphasizes that law is shaped by social
forces and historical context?
A) Legal Realism
B) Natural Law
C) Historical School
D) Positivism
ANSWER: A) Legal Realism
12. Equity is a system of law that:
A) Focuses on monetary damages
B) Provides remedies when common law remedies are inadequate
C) Is only used in criminal cases
D) Is based strictly on statutes
ANSWER: B) Provides remedies when common law remedies are
inadequate
13. An example of an equitable remedy is:
A) Compensatory damages
B) Punitive damages
C) An injunction
D) Restitution
ANSWER: C) An injunction
COMPLETE QUESTIONS WITH CORRECT
DETAILED ANSWERS || 100% GUARANTEED
PASS <RECENT VERSION>
1. What is the primary function of law in a business context?
A) To maximize government control
B) To provide a framework of rules for orderly business transactions and dispute
resolution
C) To ensure all businesses make a profit
D) To create as many regulations as possible
ANSWER: B) To provide a framework of rules for orderly business
transactions and dispute resolution
2. What is the supreme law of the United States?
A) Federal statutes passed by Congress
B) The U.S. Constitution
C) Regulations from federal agencies
D) State constitutions
ANSWER: B) The U.S. Constitution
3. The doctrine of stare decisis refers to:
A) The power of judicial review
B) The obligation to follow precedent in making judicial decisions
C) The process of filing a lawsuit
D) The separation of powers between state and federal government
ANSWER: B) The obligation to follow precedent in making judicial
decisions
4. A law that is based on current standards or customs of the people is known
as:
A) Common law
B) Constitutional law
C) Statutory law
,D) Administrative law
ANSWER: A) Common law
5. Laws enacted by legislative bodies at any level of government are called:
A) Ordinances
B) Statutes
C) Precedents
D) Regulations
ANSWER: B) Statutes
6. Which of the following is a primary source of law?
A) A legal encyclopedia
B) A law review article
C) The Uniform Commercial Code (UCC)
D) A textbook on business law
ANSWER: C) The Uniform Commercial Code (UCC)
7. The U.S. system of government is based on the principle of:
A) Federalism
B) Universal suffrage
C) Direct democracy
D) Parliamentary supremacy
ANSWER: A) Federalism
8. What is the primary purpose of the Uniform Commercial Code (UCC)?
A) To regulate interstate commerce
B) To standardize state laws governing commercial transactions
C) To replace common law contract principles entirely
D) To create a federal court for business disputes
ANSWER: B) To standardize state laws governing commercial
transactions
9. The power of the courts to determine the constitutionality of a law or action
is called:
A) Stare decisis
B) Judicial review
, C) Jurisdiction
D) Preemption
ANSWER: B) Judicial review
10. If a federal law and a state law conflict, which one prevails under the
Supremacy Clause?
A) The state law
B) The law that was passed first
C) The federal law
D) The law that is more specific
ANSWER: C) The federal law
11. Which school of legal thought emphasizes that law is shaped by social
forces and historical context?
A) Legal Realism
B) Natural Law
C) Historical School
D) Positivism
ANSWER: A) Legal Realism
12. Equity is a system of law that:
A) Focuses on monetary damages
B) Provides remedies when common law remedies are inadequate
C) Is only used in criminal cases
D) Is based strictly on statutes
ANSWER: B) Provides remedies when common law remedies are
inadequate
13. An example of an equitable remedy is:
A) Compensatory damages
B) Punitive damages
C) An injunction
D) Restitution
ANSWER: C) An injunction
