Business Law Exam 1
There are two sides to a case presented before the trier of fact - ANS -- person or persons who
apply the law, they decide the winner or loser (a judge or jury)
Liable/ Liability - ANS -deals with responsibility (who is responsible)
3 important aspects of the law - ANS -1. Law is powerful
2. Law is important
3. Law is fascinating
Laws are forever - ANS -Changing
True/ false - Founding fathers created a multi level government which guarantees citizens rights
- ANS -True - (Constitution)
Common Law - ANS -accumulation of precedent in legal cases (Old judge made Law)
Retrospective - ANS -looks to the past to see what other courts did in other situations
Injunctions - ANS -Deal with equity law only a court can have (M and M private property sophia
is on it, so they can file an injunction(complaint) to have her removed from property)
Natural Law (true False) - ANS -"An unjust law is no law at all and need not be obeyed" true
Liability - ANS -who is responsible
Criminal Law - ANS -Outlaw danger that is dangerous to society
Civil law - ANS -Wants money compensation
Three sources of law - ANS -common, statutory, administrative
True/ False Stare Decis - ANS -Let the desicion stand (previous decisions are generally upheld
in similar cases)
True false (under common law, bystanders have no obligation to assist a victim in an emergency
- ANS -true
, Exceptions to assisting people in an emergency - ANS -1. If you do try to help someone and
hurt them you are not responsible
2. Must help family (children, elderly parents)
3. If its your job (lifeguard, police)
True false - Laws or ordinances can be enacted at all levels of government - ANS -True
Judicial Review - ANS -Federal courts can declare a statute or governmental action
unconstitutional
True/false All laws have to be consitutional - ANS -True
The Supremacy clause - ANS -Federal law is more powerful than state law and local
Freedom of Information ACT (FOYA) - ANS -A citizen or resident of US can ask an
administrative agency on how they spend their money
Due Process - ANS -Government can not come in and take property (have to have due
process), no private property should be taken for public use without money
Takings clause - ANS -When the government takes property for public use, it has to pay a fair
price
Procedural due process - ANS -The government must go through procedures to ensure that the
result is fair
In common wealth of VA you can only take private property for public use - ANS -True
Private schools can admit whoever (test question) - ANS -Hampton sydney does not have to let
someone in becuase of gender (private school)
Litigation - ANS -Refers to lawsuits the process of filing claims in court and ultimately going to
trial
Alternative Dispute Resoltion - ANS -an alternative way of resolving a legal dispute without
going through the trial
Why ADR - ANS -Cheaper, quicker, more private
Most common forms of ADR - ANS -Meditation, negotiation, arbitration
Negotiation - ANS -Parties make offers and counter offers for settlements
May be face to face or through lawyers
There are two sides to a case presented before the trier of fact - ANS -- person or persons who
apply the law, they decide the winner or loser (a judge or jury)
Liable/ Liability - ANS -deals with responsibility (who is responsible)
3 important aspects of the law - ANS -1. Law is powerful
2. Law is important
3. Law is fascinating
Laws are forever - ANS -Changing
True/ false - Founding fathers created a multi level government which guarantees citizens rights
- ANS -True - (Constitution)
Common Law - ANS -accumulation of precedent in legal cases (Old judge made Law)
Retrospective - ANS -looks to the past to see what other courts did in other situations
Injunctions - ANS -Deal with equity law only a court can have (M and M private property sophia
is on it, so they can file an injunction(complaint) to have her removed from property)
Natural Law (true False) - ANS -"An unjust law is no law at all and need not be obeyed" true
Liability - ANS -who is responsible
Criminal Law - ANS -Outlaw danger that is dangerous to society
Civil law - ANS -Wants money compensation
Three sources of law - ANS -common, statutory, administrative
True/ False Stare Decis - ANS -Let the desicion stand (previous decisions are generally upheld
in similar cases)
True false (under common law, bystanders have no obligation to assist a victim in an emergency
- ANS -true
, Exceptions to assisting people in an emergency - ANS -1. If you do try to help someone and
hurt them you are not responsible
2. Must help family (children, elderly parents)
3. If its your job (lifeguard, police)
True false - Laws or ordinances can be enacted at all levels of government - ANS -True
Judicial Review - ANS -Federal courts can declare a statute or governmental action
unconstitutional
True/false All laws have to be consitutional - ANS -True
The Supremacy clause - ANS -Federal law is more powerful than state law and local
Freedom of Information ACT (FOYA) - ANS -A citizen or resident of US can ask an
administrative agency on how they spend their money
Due Process - ANS -Government can not come in and take property (have to have due
process), no private property should be taken for public use without money
Takings clause - ANS -When the government takes property for public use, it has to pay a fair
price
Procedural due process - ANS -The government must go through procedures to ensure that the
result is fair
In common wealth of VA you can only take private property for public use - ANS -True
Private schools can admit whoever (test question) - ANS -Hampton sydney does not have to let
someone in becuase of gender (private school)
Litigation - ANS -Refers to lawsuits the process of filing claims in court and ultimately going to
trial
Alternative Dispute Resoltion - ANS -an alternative way of resolving a legal dispute without
going through the trial
Why ADR - ANS -Cheaper, quicker, more private
Most common forms of ADR - ANS -Meditation, negotiation, arbitration
Negotiation - ANS -Parties make offers and counter offers for settlements
May be face to face or through lawyers
