AGEC 3713 FINAL EXAM Questions with Correct Answers| Latest Update Guaranteed Success
What is the definition of "the law?" A body of rules that can be enforced by the authority of
a government: federal, state and local
Constitutional Law fundamental law of a government establishing its powers and limitations
Administrative Law the body of agency made law consisting of administrative rules,
regulations and enforceable policies
Statutory Law The codified laws passed by a government's legislative body
Common Law a system of law based on precedent and customs
How is Constitutional Law created? Established through constitutional convention
How is statutory law created? Process is essentially the same at federal and state levels:
- Bill is proposed by legislator in one house (and at federal level, revenue bills must originate in
the House).
-Bill must be approved by both houses of legislature.
-Bills must then be signed by chief executive, or vetoed. 2/3 majority of both houses required to
override veto.
How is administrative law created? Regulations are created by delegation of the legislative
power to the administrative agencies.
, How is common law created? Arises from the interpretation of legal principles by courts to
the specific situation before the court.
How is Constitutional Law modified? Federally, it takes 2/3 majority vote.
Can use the power of initiative at the state level.
How is Administrative Law modified? Same process as creation.
Get on a commission// council // board
How is Common Law modified? Judges modify their interpretation
"Pile on" to an already existing case through amicus curiae.
How can you tell if something is a "good" as that term is defined by Article 2 of the UCC?
"Goods" are defined as things which are movable at the time of identification to the
contract for sale. "Goods" also include the unborn young of animals and growing crops and
other identified things attached to realty but does not include information.
What kinds of transactions are governed by Article 2, Article 2A, Article 7, and Article 9 of the
UCC? Article 2 deals with transactions made with sale of goods.
Article 2A deals with transactions of leases of goods.
Article 7 deals with warehouse receipts, bills of lading and other documents of title; the rules
governing transactions where you place your goods in the care of someone else.
Article 9 delas with secured transactions, including intangible property.
What is the definition of "the law?" A body of rules that can be enforced by the authority of
a government: federal, state and local
Constitutional Law fundamental law of a government establishing its powers and limitations
Administrative Law the body of agency made law consisting of administrative rules,
regulations and enforceable policies
Statutory Law The codified laws passed by a government's legislative body
Common Law a system of law based on precedent and customs
How is Constitutional Law created? Established through constitutional convention
How is statutory law created? Process is essentially the same at federal and state levels:
- Bill is proposed by legislator in one house (and at federal level, revenue bills must originate in
the House).
-Bill must be approved by both houses of legislature.
-Bills must then be signed by chief executive, or vetoed. 2/3 majority of both houses required to
override veto.
How is administrative law created? Regulations are created by delegation of the legislative
power to the administrative agencies.
, How is common law created? Arises from the interpretation of legal principles by courts to
the specific situation before the court.
How is Constitutional Law modified? Federally, it takes 2/3 majority vote.
Can use the power of initiative at the state level.
How is Administrative Law modified? Same process as creation.
Get on a commission// council // board
How is Common Law modified? Judges modify their interpretation
"Pile on" to an already existing case through amicus curiae.
How can you tell if something is a "good" as that term is defined by Article 2 of the UCC?
"Goods" are defined as things which are movable at the time of identification to the
contract for sale. "Goods" also include the unborn young of animals and growing crops and
other identified things attached to realty but does not include information.
What kinds of transactions are governed by Article 2, Article 2A, Article 7, and Article 9 of the
UCC? Article 2 deals with transactions made with sale of goods.
Article 2A deals with transactions of leases of goods.
Article 7 deals with warehouse receipts, bills of lading and other documents of title; the rules
governing transactions where you place your goods in the care of someone else.
Article 9 delas with secured transactions, including intangible property.
