Complete Test Bank Legal Environment of Business 13th
Edition Meiners Questions & Answers with rationales
(Chapter 1-22)
Law - ANSWER Rights between governments and individuals
Rules setting forth rights and responsibilities of individuals, private entities, and
public entities
Consequences for infringing upon rights and failing to live up to responsibilities
Methods for enforcing rights and responsibilities
Jurisprudence - ANSWER The study of law
Law Provides: - ANSWER Stability, Predictability and Continuity
Why is the regulation of business necessary? - ANSWER Provides Regulation
(law), Prevents unfair advantage, Levels the playing field
Primary Sources of American Law: - ANSWER U. S. Constitution, Statutes,
Administrative Law, Case/Common Law
Secondary Sources of American Law: - ANSWER Legal Encyclopedias, Treatise,
Law Review Articles, Restatements, Law Set Forth In Constitutions (U.S., State)
10th Amendment: - ANSWER Anything governed by U.S. Constitution is reserved
for states, also grants rights to citizens
U.S. Constitution: - ANSWER Supreme law of the land
Federal Law Fact: - ANSWER Federal law trumps state law (except for court
system and case law)
State Constitution: - ANSWER Supreme law of states-cannot violate U.S.
Constitution or Federal Law
Statutory Law - ANSWER Laws enacted by legislative bodies- Congress (Federal),
Legislatures (State)
Acts - ANSWER Collections of statutes addressing a certain subject matter
United States Code: - ANSWER U.S.C.
, State Code: - ANSWER O.C.G.A.
Federal Statutes: - ANSWER Apply to all states
State Statutes: - ANSWER Apply to specific states
Ordinances: - ANSWER Apply in County/City
Uniform Laws: - ANSWER -States regulate what isn't constitutionally regulated
nationally
-Can make trade and other life activities difficult across state lines
-Have been drafted to make state laws more consistent
What are the the three options presented to states on adopting Uniform Laws? -
ANSWER -Adopt uniform laws as drafted
-Adopt with amendments
-Reject uniform law
Statutory Law - ANSWER If adopted by states, uniform law
becomes_______________.
Administrative Law - ANSWER Laws created by administrative agencies
Executive Agency: - ANSWER Executive branch's cabinet departments and sub-
agencies within those departments. Under control of the President, he can appoint
and remove officers.
EX: State Department, Passport Office, FDA
Independent Regulatory Agencies: - ANSWER Presidents role is less pronounced,
Officers serve a fixed term
State and Local Agencies: - ANSWER Often created as parallels to federal
agencies, Cannot conflict with U.S. Constitution/Federal Statutes/Federal
Regulations, Cannot conflict with state
Case and Common Law - ANSWER Law Announced in Court Decisions,Written by
judges in opinions, Recorded in reports/reporters
Judge-Made Law - ANSWER Common law system started in England centuries
ago, contrast with civil law system, 2 types of courts defined by types of remedies
afforded
Courts of Equity - ANSWER Afford equitable remedies-remedy to force someone
to do or stop doing something, different types of equitable remedies. Awarded by
judge, not a jury.
Edition Meiners Questions & Answers with rationales
(Chapter 1-22)
Law - ANSWER Rights between governments and individuals
Rules setting forth rights and responsibilities of individuals, private entities, and
public entities
Consequences for infringing upon rights and failing to live up to responsibilities
Methods for enforcing rights and responsibilities
Jurisprudence - ANSWER The study of law
Law Provides: - ANSWER Stability, Predictability and Continuity
Why is the regulation of business necessary? - ANSWER Provides Regulation
(law), Prevents unfair advantage, Levels the playing field
Primary Sources of American Law: - ANSWER U. S. Constitution, Statutes,
Administrative Law, Case/Common Law
Secondary Sources of American Law: - ANSWER Legal Encyclopedias, Treatise,
Law Review Articles, Restatements, Law Set Forth In Constitutions (U.S., State)
10th Amendment: - ANSWER Anything governed by U.S. Constitution is reserved
for states, also grants rights to citizens
U.S. Constitution: - ANSWER Supreme law of the land
Federal Law Fact: - ANSWER Federal law trumps state law (except for court
system and case law)
State Constitution: - ANSWER Supreme law of states-cannot violate U.S.
Constitution or Federal Law
Statutory Law - ANSWER Laws enacted by legislative bodies- Congress (Federal),
Legislatures (State)
Acts - ANSWER Collections of statutes addressing a certain subject matter
United States Code: - ANSWER U.S.C.
, State Code: - ANSWER O.C.G.A.
Federal Statutes: - ANSWER Apply to all states
State Statutes: - ANSWER Apply to specific states
Ordinances: - ANSWER Apply in County/City
Uniform Laws: - ANSWER -States regulate what isn't constitutionally regulated
nationally
-Can make trade and other life activities difficult across state lines
-Have been drafted to make state laws more consistent
What are the the three options presented to states on adopting Uniform Laws? -
ANSWER -Adopt uniform laws as drafted
-Adopt with amendments
-Reject uniform law
Statutory Law - ANSWER If adopted by states, uniform law
becomes_______________.
Administrative Law - ANSWER Laws created by administrative agencies
Executive Agency: - ANSWER Executive branch's cabinet departments and sub-
agencies within those departments. Under control of the President, he can appoint
and remove officers.
EX: State Department, Passport Office, FDA
Independent Regulatory Agencies: - ANSWER Presidents role is less pronounced,
Officers serve a fixed term
State and Local Agencies: - ANSWER Often created as parallels to federal
agencies, Cannot conflict with U.S. Constitution/Federal Statutes/Federal
Regulations, Cannot conflict with state
Case and Common Law - ANSWER Law Announced in Court Decisions,Written by
judges in opinions, Recorded in reports/reporters
Judge-Made Law - ANSWER Common law system started in England centuries
ago, contrast with civil law system, 2 types of courts defined by types of remedies
afforded
Courts of Equity - ANSWER Afford equitable remedies-remedy to force someone
to do or stop doing something, different types of equitable remedies. Awarded by
judge, not a jury.
