TEST BANK FOR The Legal and Regulatory Environment of Business 19th Edition by Marisa Anne Pagnattaro (Author) latest update | complete solution | Grade A+.

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TRUE/FALSE -Write 'T' if the statement is true and 'F' if the statement is false.
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1) Law is considered to be a formalsocial force.
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⊚ true
⊚ false




2) The first known written setof laws was the Code of King Solomon.
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⊚ true
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3) Rule-of-lawnations adoptlawssupportingtheprivatemarketbecause itisin
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everyone’sinterest, including the lawmakers’.
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⊚ true
⊚ false




4) Commonproperty applies to public resources owned by the government (or “state”)
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likeroads, public buildings, public lands, and monuments.
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⊚ true
⊚ false




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5) Tort law compensates owners whose resources are wrongfully injured by the acts
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ofothers.
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⊚ true
⊚ false




6) Regulatorylawforbids owners from monopolizingclasses of resources and sets rules
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forhow businesses can compete to acquire ownership in new resources.
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⊚ true
⊚ false




7) Jurisprudenceisthephilosophyoflaw. w
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⊚ true
⊚ false




8) Natural law theory asserts that law contains universal moral principles.
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⊚ true
⊚ false




9) The basis of sociological jurisprudence isthat contemporarylaw should focus on
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legalprinciples that have survived the test of time in a nation.
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⊚ true
⊚ false




10) Jurisprudence refers tothe general bodyof law interpretationsby judges as different
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fromlegislation passed by legislators.
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⊚ true
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11) Legalrealism is theidea that courtsshould understand themeaning of the
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Constitutionrelative to the times in which they interpret it.
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⊚ true
⊚ false




12) Those countries thatwere colonized byEngland, such asTheUnited Kingdom,
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Canada,the United States, and India, follow the civil law.
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⊚ true
⊚ false




13) The common law arose in the eleventh and twelfth centuries as the English
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monarchyappointed royal judges to ride circuits around the countryside and to resolve
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conflicts in the name of the king (or queen).
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