BUSFIN 3500 IRVINE MIDTERM PRACTICE
SCRIPT 2026 TESTED QUESTIONS WITH
ANSWERS
◉ Treaty. Answer: binding agreement between two states or
international organizations. It may be an international agreement a
covenant, an exchange of letters, a convention, or shared protocols.
◉ Executive Orders. Answer: Formal orders issued by the president
to direct action by the federal bureaucracy.
◉ Natural Law. Answer: Describes certain ethical laws and
principles believed to be morally right and "above" the laws devised
by humans
◉ Legal Positivism. Answer: Sees our proper role as obedience to
duly authorized law
◉ Identification with the Vulnerable. Answer: Closely linked to
pursing legal change through natural law; based on the grounds that
some higher law or body of moral principles connects all of us in the
human community
, ◉ Historical School: Tradition. Answer: Emphasis on case precedent
- stare decisis
◉ Legal Realism. Answer: Based on the idea that, when ruling on a
case, judges need to consider more than just the law; they also
weight factors such as social and economic conditions, since legal
guidelines were designed by humans and exist in an ever-changing
environment
◉ Cost-Benefit Analysis. Answer: Choosing the legal alternatives that
maximize benefits and minimize cost
◉ Global and Comparative Law. Answer: Looks at and compares the
laws of other countries and those of the United States
◉ Constitutional Law. Answer: Law that involves the interpretation
and application of the U.S. Constitution and state constitutions
◉ Critical-Thinking Skills. Answer: The ability to understand the
structure of what someone is saying and then apply criteria to
evaluate its worth. In other words, business people need to be able
to sort sense from nonsense by developing critical attitudes and
abilities
SCRIPT 2026 TESTED QUESTIONS WITH
ANSWERS
◉ Treaty. Answer: binding agreement between two states or
international organizations. It may be an international agreement a
covenant, an exchange of letters, a convention, or shared protocols.
◉ Executive Orders. Answer: Formal orders issued by the president
to direct action by the federal bureaucracy.
◉ Natural Law. Answer: Describes certain ethical laws and
principles believed to be morally right and "above" the laws devised
by humans
◉ Legal Positivism. Answer: Sees our proper role as obedience to
duly authorized law
◉ Identification with the Vulnerable. Answer: Closely linked to
pursing legal change through natural law; based on the grounds that
some higher law or body of moral principles connects all of us in the
human community
, ◉ Historical School: Tradition. Answer: Emphasis on case precedent
- stare decisis
◉ Legal Realism. Answer: Based on the idea that, when ruling on a
case, judges need to consider more than just the law; they also
weight factors such as social and economic conditions, since legal
guidelines were designed by humans and exist in an ever-changing
environment
◉ Cost-Benefit Analysis. Answer: Choosing the legal alternatives that
maximize benefits and minimize cost
◉ Global and Comparative Law. Answer: Looks at and compares the
laws of other countries and those of the United States
◉ Constitutional Law. Answer: Law that involves the interpretation
and application of the U.S. Constitution and state constitutions
◉ Critical-Thinking Skills. Answer: The ability to understand the
structure of what someone is saying and then apply criteria to
evaluate its worth. In other words, business people need to be able
to sort sense from nonsense by developing critical attitudes and
abilities
