Mann_BLRB 9_TB_Ch01

Business Law and the Regulation of Business

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Chapter 1—Introduction to Law TRUE/FALSE 1. The law can be defined as predictions of the way in which a court will decide specific legal questions. ANS: T MSC: AACSB Analytic 2. The common law system is used in most of Europe, Scotland, and Latin America. ANS: F MSC: AACSB Analytic 3. The primary function of the law is to maintain stability in the social, political, and economic system while simultaneously permitting change. ANS: T MSC: AACSB Analytic 4. Substantive law creates legal rights and duties. ANS: T MSC: AACSB Analytic 5. The Constitution provides that federal statutes are paramount to state constitutions and statutes. ANS: T MSC: AACSB Analytic 6. The burden of proof in a criminal case is preponderance of the evidence. ANS: F MSC: AACSB Analytic 7. The law does not change; it is based on unchanging and universal truths. ANS: F MSC: AACSB Analytic 8. The main categories of the law are (a) substantive and procedural, (b) public and private, and (c) civil and criminal. ANS: T MSC: AACSB Analytic 9. Law is an instrument of social control. ANS: T MSC: AACSB Analytic 10. Under the civil law system, adversaries initiate and conduct litigation. ANS: F MSC: AACSB Analytic 11. A judge deciding a common law case must, for guidance, look to similar cases previously decided. ANS: T MSC: AACSB Analytic 12. The United States Constitution establishes the principle of judicial review, which divides the govern- ment into three distinct and independent branches: the judicial, executive, and legislative (Congress).
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ANS: F MSC: AACSB Analytic 13. Since the end of the nineteenth century, case law developed from court opinions has been the primary source of new law and ordered social change in the United States. ANS: F MSC: AACSB Analytic 14. A constitution restricts the powers of the government and specifies the rights and liberties of the people. ANS: T MSC: AACSB Analytic 15. The Uniform Commercial Code is a federal law that applies to commercial transactions among the states. ANS: F MSC: AACSB Analytic 16. Laws passed by Congress are the supreme law of the land in the United States and take precedence over the United States Constitution. ANS: F MSC: AACSB Analytic 17. The final arbiter as to the constitutionality of laws passed by Congress or by the legislature of a state is the Supreme Court of the United States. ANS: T MSC: AACSB Analytic 18. The common law system of law uses the inquisitorial system of determining disputes. ANS: F MSC: AACSB Analytic 19. Rodriguez and Compton asked a court for reformation of their contract based on a mutual mistake. They seek an equitable remedy. ANS: T MSC: AACSB Analytic | AACSB Diversity 20. The principle of stare decisis gives stability to our system of jurisprudence. ANS: T
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Mann_BLRB 9_TB_Ch01 - Test Bank

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