Introductory Business Law (CLEP) Exam Review 2023

ntroductory Business Law (CLEP) Exam Review 2023 law - ANS-a representation of a set of rules or principles established by government or other controlling body that members of society must follow and obey legal system - ANS-a system of established laws civil law (code law) - ANS-a legal system which has a single comprehensive code as the core of its law common law (case law) - ANS-judge-made law, whereby judges make decisions on a case-by-case basis, and those decisions generate a body of rules and principles precedent - ANS-previous decisions that set an example or guide for future cases stare decisis - ANS-the notion that judges must make decisions based on precedent Congress - ANS-the legislative branch of the US Supreme Court - ANS-the highest federal court in the US judicial review - ANS-the doctrine by which a higher court can overturn a decision made by a lower court checks and balances - ANS-the system whereby each branch of the US government has specific power and authority so that they balance (or check) the power exercised by other branches Bill of Rights - ANS-the first ten amendments to the US Constitution; meant to protect citizens from government intrusion Necessary and Proper Clause - ANS-a clause in the US Constitution that gives power to Congress to make laws that are deemed "necessary" for the upholding of the Constitution Supremacy Clause - ANS-a clause in the US Constitution that establishes that federal law supersedes all state laws uniform laws - ANS-an effort to harmonize all state law by unifying legislation on a given topic Uniform Commercial Code ("UCC") - ANS-an organization that seeks to establish uniform laws for various aspects of commercial law commercial speech - ANS-speech regarding commercial or economic activities strict scrutiny - ANS-a form of judicial review that requires a law to further "a compelling government interest" and that the law must serve a narrow purpose Continues...