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69.(p. 13)Precedent evolves from: A. state and federal constitutions.B. state and federal statutes.C.the common law.D. a combination of both state and federal statutes and common law.Precedent results from appellate court decisions in the absence of written law.AACSB: AnalyticBloom's: UnderstandDifficulty: MediumLearning Objective: 01-07 Identify and apply important equitable maxims.Topic: Stare Decisis and Precedent70.(p. 18)A state statute mandates that the statute of limitations for a negligence law suit is two years and the plaintiff is barred from filing the suit if they file after that time. This statute is anexample of a: AACSB: Reflective thinkingBloom's: EvaluateDifficulty: HardLearning Objective: 01-09 Classify the law into several broad categories.Topic: Substantive versus Procedural Law1-44
Chapter 01 - Legal FoundationsEssay Questions71.(p. 4)Briefly discuss the origins and purposes of law. AACSB: Reflective thinkingBloom's: RememberDifficulty: EasyLearning Objective: 01-01 Understand the broad definition and origins of law.Topic: Purposes of Law72.(p. 8, 11, 13)Mike is a high school dropout employed as a counter worker at a Kentucky Fried Chicken Outlet (KFC) in Georgia. He has been voted the employee of the month and has beenawarded a trip to Louisville, KY to visit the KFC headquarters. While there, he notices an open wall safe and when he looks inside he discovers the Colonels secret recipe of 23 herbs and spices. He quickly makes a copy and returns the original to the safe. Once he arrives home he contacts a number of local fried chicken restaurants and offers to sell them the recipe. When KFC finds out what he's doing they immediately sue him, but discover that thereare no applicable trade secret statutes. What effect does the failure of an applicable statute have and what, if anything, can KFC do?