business law TB#2 chap1

business law TB#2 chap1 - Chapter1 LegalReasoning...

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Chapter 1 Introduction to Law and  Legal Reasoning N.B.:   TYPE  indicates that a question is new, modified, or unchanged, as  follows. N A question  new  to this edition of the Test Bank. + A question  modified  from the previous edition of the Test Bank, = A question  included  in the previous edition of the Test Bank. TRUE/FALSE QUESTIONS 1. The law establishes rights, duties, and privileges that are consistent with  the values of society. ANSWER: T PAGE: TYPE: = 2. How judges apply the law to specific disputes may depend in part on their  personal philosophical views. ANSWER: T PAGE: 2 TYPE: = 3. A judge’s view of the law is of little importance in a common law legal  system. ANSWER: F PAGE: 2 TYPE: = 4. A federal law that conflicts with the U.S. Constitution will be deemed  unconstitutional. 1
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2 TEST BANK 2—UNIT ONE: THE LEGAL ENVIRONMENT OF BUSINESS ANSWER: T PAGE: 6 TYPE: = 5. The U.S. Constitution is the supreme law of the United States. ANSWER: T PAGE: 6 TYPE: =
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CHAPTER 1: INTRODUCTION TO LAW AND LEGAL REASONING 3 6. Each state has its own constitution. ANSWER: T PAGE: 6 TYPE: = 7. The Federal Trade Commission developed the Uniform Commercial Code. ANSWER: F PAGE: 6 TYPE: N 8. Administrative law includes only federal regulations. ANSWER: F PAGE: 7 TYPE: + 9. Federal agency regulations take precedence over conflicting state agency  regulations. ANSWER: T PAGE: 7 TYPE: + 10. Common law is a term for the laws that are familiar to most of us. ANSWER: F PAGE: 8 TYPE: N 11. Equity is a branch of unwritten law that seeks to award damages in most  cases. ANSWER: F PAGE: 8 TYPE: = 12. A court’s direction to a party to do or to stop doing a particular act is a  rescission. ANSWER: F PAGE: 8 TYPE: = 13. A plaintiff is a person against whom a lawsuit is brought. ANSWER: F PAGE: 9 TYPE: = 14. A decision on a given issue by a court is not binding on an inferior court. ANSWER: F PAGE: 10 TYPE: = 15. Stare decisis  is a doctrine obligating judges to follow precedents established  within their jurisdictions.
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4 TEST BANK 2—UNIT ONE: THE LEGAL ENVIRONMENT OF BUSINESS ANSWER: T PAGE: 10 TYPE: =
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CHAPTER 1: INTRODUCTION TO LAW AND LEGAL REASONING 5 16. A court may depart from a precedent if the precedent is no longer valid in  view of changed technology. ANSWER: T PAGE: 10 TYPE: = 17. Common law is no longer a source of legal authority. ANSWER: F PAGE: 13 TYPE: N 18. A substantive law creates or defines legal rights and obligations. ANSWER:
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business law TB#2 chap1 - Chapter1 LegalReasoning...

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