BUS LAW 1 EXAM QUESTIONS AND ANSWERS
Codes - CORRECT ANSWER✅✅Grouping of related statutes.
Common Law - CORRECT ANSWER✅✅Oldest set of rules of law, (still used) hold harshest penalties. Civil
scenario higher fines or judgments.
Modern Law - CORRECT ANSWER✅✅Rules of law that have been developed because of societal needs
and changes.
Stare Decisis - CORRECT ANSWER✅✅The lower courts abide by a higher court's rule of law.
Case precedents - CORRECT ANSWER✅✅Cases deemed landmarked cases, cited, argued before the
court, used as an example basically.
Plaintiff - CORRECT ANSWER✅✅A civil suit, (cause of action).
Defendant - CORRECT ANSWER✅✅Criminal case, person being blamed.
Jurisdiction - CORRECT ANSWER✅✅(JDX) State and federal. Class focuses on federal. 1) federal
question = constitutional violation. OR 2) Personal Jurisdiction = diversity of citizenship. Diverse. The
amount in controversy must be 75k or more.
Subject Matter - CORRECT ANSWER✅✅Defines the core topic, tangible property, or legal right that
forms the basis of a lawsuit or agreement.
Personal Petitioner - CORRECT ANSWER✅✅Someone who is petitioning/asking the court for
something.
Respondent - CORRECT ANSWER✅✅The party against whom a petition, motion, or appeal is filed.
, Equitable and legal remedies - CORRECT ANSWER✅✅What the client wants are two kinds of remedy.
Legal remedies - CORRECT ANSWER✅✅Monetary relief.
Equitable remedies - CORRECT ANSWER✅✅Non-monetary relief.
Venue - CORRECT ANSWER✅✅Where the proper location is for the fed court to hear this case.
Specific performance - CORRECT ANSWER✅✅An equitable remedy where a court orders a breaching
party to fulfill their contractual obligations.
Standing to sue - CORRECT ANSWER✅✅A fundamental business law doctrine determining whether a
party has the legal right to initiate a lawsuit.
Good - CORRECT ANSWER✅✅Chattels, personal property. Any tangible personal property capable of
being moved.
Real property - CORRECT ANSWER✅✅Fixed to the ground.
Writ of Certiorari - CORRECT ANSWER✅✅A discretionary order issued by a higher court directing a
lower court to send up records for review.
Complaint - CORRECT ANSWER✅✅The initial document filed by a plaintiff in a civil lawsuit outlining
allegations and demands for relief.
Service of process - CORRECT ANSWER✅✅The formal, legal procedure of delivering crucial court
documents to notify them that they are being sued.
Charges - CORRECT ANSWER✅✅Generally refers to a formal accusation of a crime, a financial burden,
or an instruction to a jury.
Codes - CORRECT ANSWER✅✅Grouping of related statutes.
Common Law - CORRECT ANSWER✅✅Oldest set of rules of law, (still used) hold harshest penalties. Civil
scenario higher fines or judgments.
Modern Law - CORRECT ANSWER✅✅Rules of law that have been developed because of societal needs
and changes.
Stare Decisis - CORRECT ANSWER✅✅The lower courts abide by a higher court's rule of law.
Case precedents - CORRECT ANSWER✅✅Cases deemed landmarked cases, cited, argued before the
court, used as an example basically.
Plaintiff - CORRECT ANSWER✅✅A civil suit, (cause of action).
Defendant - CORRECT ANSWER✅✅Criminal case, person being blamed.
Jurisdiction - CORRECT ANSWER✅✅(JDX) State and federal. Class focuses on federal. 1) federal
question = constitutional violation. OR 2) Personal Jurisdiction = diversity of citizenship. Diverse. The
amount in controversy must be 75k or more.
Subject Matter - CORRECT ANSWER✅✅Defines the core topic, tangible property, or legal right that
forms the basis of a lawsuit or agreement.
Personal Petitioner - CORRECT ANSWER✅✅Someone who is petitioning/asking the court for
something.
Respondent - CORRECT ANSWER✅✅The party against whom a petition, motion, or appeal is filed.
, Equitable and legal remedies - CORRECT ANSWER✅✅What the client wants are two kinds of remedy.
Legal remedies - CORRECT ANSWER✅✅Monetary relief.
Equitable remedies - CORRECT ANSWER✅✅Non-monetary relief.
Venue - CORRECT ANSWER✅✅Where the proper location is for the fed court to hear this case.
Specific performance - CORRECT ANSWER✅✅An equitable remedy where a court orders a breaching
party to fulfill their contractual obligations.
Standing to sue - CORRECT ANSWER✅✅A fundamental business law doctrine determining whether a
party has the legal right to initiate a lawsuit.
Good - CORRECT ANSWER✅✅Chattels, personal property. Any tangible personal property capable of
being moved.
Real property - CORRECT ANSWER✅✅Fixed to the ground.
Writ of Certiorari - CORRECT ANSWER✅✅A discretionary order issued by a higher court directing a
lower court to send up records for review.
Complaint - CORRECT ANSWER✅✅The initial document filed by a plaintiff in a civil lawsuit outlining
allegations and demands for relief.
Service of process - CORRECT ANSWER✅✅The formal, legal procedure of delivering crucial court
documents to notify them that they are being sued.
Charges - CORRECT ANSWER✅✅Generally refers to a formal accusation of a crime, a financial burden,
or an instruction to a jury.
