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WGU D216 Business Law for Accountants | 2026/2027|Questions & Answers

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Ace your Exam with this Exam practice ,WGU D216 Business Law for Accountants . Success!!!

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Aantal pagina's
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Geschreven in
2025/2026
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Remedies the legal means to enforce a right or redress a wrong


How would the King's courts award compensation? Land, items of value, or money


What did the courts that awarded money, land, or items Courts of law
of value known as?


What were compensation of land, items of value, and Remedies of law
money known as?


damages Amounts given to a party whose legal interests have been injured


courts of equity A court that decides controversies and administers justice according to the rules,
principles, and precedents of equity.


Remedies in equity A remedy allowed by courts in situations where remedies at law are not
appropriate. Remedies in equity are based on settled rules of fairness, justice, and
honesty, and include injunction, specific performance, rescission and restitution,
and reformation.


Rescission the cancellation of a contractual obligation.


Specific Performance ordering a party to perform an agreement as promised


injunction an order to a party to cease engaging in a specific activity or to undo some
wrong or injury.


breaches fails to fulfill


equitable maxims propositions or general statements of equitable rules


laches The equitable doctrine that bars a party's right to legal action if the party has
neglected for an unreasonable length of time to act on his or her rights.


defendant Party being sued


Defense argument raised by the defense


Plaintiff The suing party


petitioner In equity practice, a party that initiates a lawsuit.


respondent In equity practice, the party who answers a complaint or other proceeding.


statutes of limitations A federal or state statute setting the maximum time period during which a certain
action can be brought or certain rights enforced.

,precedent A court decision that furnishes an example or authority for deciding subsequent
cases involving identical or similar facts.


reporters A publication in which court cases are published, or reported.


aspects of stare decisis A court should not overturn its own precedents unless there is a compelling
reason to do so.


Decisions made by a higher court are binding on lower courts.


binding authority Any source of law that a court must follow when deciding a case.


stare decisis to stand on decided cases.


persuasive authorities Any legal authority or source of law that a court may look to for guidance but
need not follow when making its decision.


legal reasoning (1) The process of evaluating how various laws apply to a given situation. (2) The
process by which a judge harmonizes his or her opinion with the judicial decisions
in previous cases.


What 4 questions should be asked when practiving Issue—What are the key facts and issues?
legal reasoning
Rule—What rule of law applies to the case?


Application—How does the rule of law apply to the particular facts and
circumstances of this case?


Conclusion—What conclusion should be drawn?


cases on point A previous case involving factual circumstances and issues that are similar to
those in the case before the court.


Restatements of the Law generally summarize the common law rules followed by most states.


Substantive law consists of all laws that define, describe, regulate, and create legal rights and
obligations


Procedural law Consists of all laws that outline the methods of enforcing the rights established by
substantive law.


Civil law spells out the rights and duties that exist between persons and between persons
and their governments, as well as the relief available when a person's rights are
violated.


Criminal law concerned with wrongs committed against the public as a whole.


Who are criminal Defendents prosecuted by? Public officials such as a district attorney

, cyberlaw refer to the emerging body of law that governs transactions conducted via the
Internet


Where are laws collected when passed by the United States Statutes at Large
Congress?


appellant The party who takes an appeal from one court to another.


appellee The party against whom an appeal is taken—that is, the party who opposes setting
aside or reversing the judgment.


opinions A statement by a court expressing the reasons for its decision in a case.


majority opinion A court opinion that represents the views of the majority (more than half) of the
judges or justices deciding the case.


concurring opinion A court opinion by one or more judges or justices who agree with the majority but
want to make or emphasize a point that was not made or emphasized in the
majority's opinion.


dissenting opinion A court opinion that presents the views of one or more judges or justices who
disagree with the majority's decision.


plurality opinion A court opinion that is joined by the largest number of the judges or justices
hearing the case, but fewer than half of the total number.


per curiam opinion By the whole court; a court opinion written by the court as a whole instead of
being authored by a judge or justice.


federal form of government A system of government in which the states form a union and the sovereign power
is divided between a central government and the member states.


sovereignty Power to govern themselves


police powers Powers possessed by states as part of their inherent sovereignty.
May be exercised to protect or promote public order, health, safety, morals, and
general welfare


privileges and immunities clause prevents a state from treating citizens of other states in a discriminatory manner.


full faith and credit clause Constitution's requirement that each state accept the public acts, records, and
judicial proceedings of every other state


checks and balances A system that allows each branch of government to limit the powers of the other
branches in order to prevent abuse of power


commerce clause The section of the Constitution in which Congress is given the power to regulate
trade among the states and with foreign countries.
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