LEGAL ENVIRONMENT OF BUSINESS FINAL
PAPER QUESTIONS AND CORRECT
ANSWERS GRADED A+ STUDY MATERIAL
●● Common Law
Answer: judge made laws
body of general rules that applied throughout the entire English realm
●● Statutory law
Answer: Laws enacted by legislative bodies at any level of government,
such as the laws passed by Congress or by state legislatures, make up the
body of laws
●● ordinances
Answer: statutes (law, rules or orders)passed by municipal or county
governing units to govern matters not covered by federal or state law
●● city or county land use (zoning ordinances), building and safety
codes and other matters affecting the local community
Answer: what do ordinances commonly have to do with?
●● all states
Answer: a federal statute applies to
,●● only within the state borders and may vary from state to state
Answer: a state statute applies to
●● uniform laws
Answer: Model laws for the states to consider adopting drafted by the
National Conference of Commissioners or Uniform state
Laws(NCCUSL)
●● True
Answer: true/False
Each state has the option of adopting or rejection all or part of a uniform
law or the legislature may rewrite the law however the legislature
wishes.
●● The Uniform Commercial Code (UCC)
Answer: Facilitates commerce among the sites by providing a uniform,
yet flexible, set of rules governing commercial transactions. All 50
states, the District of Columbia, and the Virgin Islands have adopted it.
●● administrative law
Answer: which consists of the rules, orders, and decisions of
administrative agencies
, ●● administrative agency
Answer: a federal, state or local government agency established to
perform a specific function. Rules issued by agency affect almost every
aspect of a business operations, including its capital structure and
financing, its hiring and firing procedures, its relations with employees
and unions.
●● true
Answer: True/False
Regulations enacted to protect the administrative agency environment
often play a significant role in business operations
●● executive agencies
Answer: What federal agency at the national level, the authority of the
president, who has the power to appoint and remove their officers.
●● president
Answer: Who has the power to appoint and remove executive agency
officers
●● U.S. Constitution
Answer: What is the highest law in the land
●● constitution
PAPER QUESTIONS AND CORRECT
ANSWERS GRADED A+ STUDY MATERIAL
●● Common Law
Answer: judge made laws
body of general rules that applied throughout the entire English realm
●● Statutory law
Answer: Laws enacted by legislative bodies at any level of government,
such as the laws passed by Congress or by state legislatures, make up the
body of laws
●● ordinances
Answer: statutes (law, rules or orders)passed by municipal or county
governing units to govern matters not covered by federal or state law
●● city or county land use (zoning ordinances), building and safety
codes and other matters affecting the local community
Answer: what do ordinances commonly have to do with?
●● all states
Answer: a federal statute applies to
,●● only within the state borders and may vary from state to state
Answer: a state statute applies to
●● uniform laws
Answer: Model laws for the states to consider adopting drafted by the
National Conference of Commissioners or Uniform state
Laws(NCCUSL)
●● True
Answer: true/False
Each state has the option of adopting or rejection all or part of a uniform
law or the legislature may rewrite the law however the legislature
wishes.
●● The Uniform Commercial Code (UCC)
Answer: Facilitates commerce among the sites by providing a uniform,
yet flexible, set of rules governing commercial transactions. All 50
states, the District of Columbia, and the Virgin Islands have adopted it.
●● administrative law
Answer: which consists of the rules, orders, and decisions of
administrative agencies
, ●● administrative agency
Answer: a federal, state or local government agency established to
perform a specific function. Rules issued by agency affect almost every
aspect of a business operations, including its capital structure and
financing, its hiring and firing procedures, its relations with employees
and unions.
●● true
Answer: True/False
Regulations enacted to protect the administrative agency environment
often play a significant role in business operations
●● executive agencies
Answer: What federal agency at the national level, the authority of the
president, who has the power to appoint and remove their officers.
●● president
Answer: Who has the power to appoint and remove executive agency
officers
●● U.S. Constitution
Answer: What is the highest law in the land
●● constitution
