Essentials of Business Law, 2024, 12e by Anthony Liuzzo (Test
Bank All Chapters, 100% Original Verified, A+ Grade) Answers At
The End Of Each Chapter
Chapter 1
Student name:__________
1) The Uniform Commercial Code has been adopted in its entirety by all 50 states.
⊚ true
⊚ false
2) The Uniform Commercial Code (UCC) was prepared in 1952.
⊚ true
⊚ false
3) The Uniform Commercial Code is a set of laws governing various commercial transactions
that are designed to bring uniformity to the laws of the different states.
⊚ true
⊚ false
4) Many legal obligations are based on moral obligations, but not all moral obligations are
legally enforceable.
⊚ true
⊚ false
5) A court has no jurisdiction if it has the authority to hear appeals from other courts.
⊚ true
⊚ false
6) Federal district courts do not have original jurisdiction to hear all appeals from state trial
courts.
⊚ true
⊚ false
7) There are 50 federal circuit courts of appeals, one circuit for each state.
⊚ true
⊚ false
Version 1 1
,Chapter 1
8) Although no single person can possibly know the entire body of law, it is important that the
average person understand:
A) some of the general principles of law.
B) how to avoid common legal problems and pitfalls.
C) when to seek professional help.
D) All of the options are correct.
9) The party who begins a lawsuit by filing a complaint in the appropriate court is called the:
A) defendant.
B) plaintiff.
C) attorney.
D) aggrieved.
10) Although the ordinary applications of law are not always exciting, it is important to
understand certain essential legal principles because they affect:
A) one’s business.
B) one’s personal life.
C) both one’s business and one’s personal life.
D) It is not important to understand legal principles.
11) Every business must comply with _______ laws.
A) federal
B) state
C) local
D) All of the options are correct.
12) Legislatures at all levels of government pass many _______ that apply only to businesses and
individuals, but some laws apply specifically to governments.
A) laws
B) rules
C) injunctions
D) None of the options are correct.
Version 1 2
,Chapter 1
13) The ever-changing body of law that affects everyone in our country has arisen from a number
of sources and, as a result, laws sometimes:
A) don’t need to be followed.
B) conflict with one another.
C) cancel each other out.
D) None of the options are correct.
14) State laws require that barbers and pharmacists pass examinations to be _______.
A) licensed to practice in their profession
B) corporate officers
C) immune from lawsuits
D) enrolled in the Bar Council
15) Administrative law is:
A) the study of the federal Constitution, its interpretation by the federal courts, and its
relationship to existing laws.
B) the body of rules, regulations, and decisions created by administrative agencies.
C) the study of the rights and obligations of individuals and includes the law of property,
the law of contracts, and the law of torts.
D) concerned with the conduct of nations in their relations with other nations.
16) A_______ is a written agreement between two or more countries that serves to establish
terms of an international relationship.
A) contract
B) mandate
C) covenant
D) treaty
17) Treaties become legally binding when they are approved by_______ of the Senate.
A) one-third
B) two-thirds
C) one quarter
D) half
Version 1 3
, Chapter 1
18) The_______ system of law is known as the common law and still influences legal decisions
in the United States today.
A) civil
B) German
C) English
D) customary
19) The principles and ideals that protect individual liberty and freedom are incorporated in the
_______.
A) U.S. Executive Order Number 1579
B) operating agreement of a typical limited liability company (LLC)
C) memorandum of articles of a typical corporation
D) Constitution of the United States
20) In the United States, _______ give(s) limited, reasonable powers to the federal government.
A) the federal Constitution
B) executive orders
C) treaties
D) common law
21) Administrative agencies have the authority to:
A) establish rules that have the force of law.
B) establish rules that do not have the full force of law.
C) establish rules that the courts must follow.
D) Administrative agencies do not have any authority to establish rules.
22) The literal translation of "stare decisis" would mean _______.
A) "to stand on decided cases"
B) "to send a summons"
C) "to postpone a hearing without a date"
D) "during the pendency of a proceeding"
Version 1 4
Bank All Chapters, 100% Original Verified, A+ Grade) Answers At
The End Of Each Chapter
Chapter 1
Student name:__________
1) The Uniform Commercial Code has been adopted in its entirety by all 50 states.
⊚ true
⊚ false
2) The Uniform Commercial Code (UCC) was prepared in 1952.
⊚ true
⊚ false
3) The Uniform Commercial Code is a set of laws governing various commercial transactions
that are designed to bring uniformity to the laws of the different states.
⊚ true
⊚ false
4) Many legal obligations are based on moral obligations, but not all moral obligations are
legally enforceable.
⊚ true
⊚ false
5) A court has no jurisdiction if it has the authority to hear appeals from other courts.
⊚ true
⊚ false
6) Federal district courts do not have original jurisdiction to hear all appeals from state trial
courts.
⊚ true
⊚ false
7) There are 50 federal circuit courts of appeals, one circuit for each state.
⊚ true
⊚ false
Version 1 1
,Chapter 1
8) Although no single person can possibly know the entire body of law, it is important that the
average person understand:
A) some of the general principles of law.
B) how to avoid common legal problems and pitfalls.
C) when to seek professional help.
D) All of the options are correct.
9) The party who begins a lawsuit by filing a complaint in the appropriate court is called the:
A) defendant.
B) plaintiff.
C) attorney.
D) aggrieved.
10) Although the ordinary applications of law are not always exciting, it is important to
understand certain essential legal principles because they affect:
A) one’s business.
B) one’s personal life.
C) both one’s business and one’s personal life.
D) It is not important to understand legal principles.
11) Every business must comply with _______ laws.
A) federal
B) state
C) local
D) All of the options are correct.
12) Legislatures at all levels of government pass many _______ that apply only to businesses and
individuals, but some laws apply specifically to governments.
A) laws
B) rules
C) injunctions
D) None of the options are correct.
Version 1 2
,Chapter 1
13) The ever-changing body of law that affects everyone in our country has arisen from a number
of sources and, as a result, laws sometimes:
A) don’t need to be followed.
B) conflict with one another.
C) cancel each other out.
D) None of the options are correct.
14) State laws require that barbers and pharmacists pass examinations to be _______.
A) licensed to practice in their profession
B) corporate officers
C) immune from lawsuits
D) enrolled in the Bar Council
15) Administrative law is:
A) the study of the federal Constitution, its interpretation by the federal courts, and its
relationship to existing laws.
B) the body of rules, regulations, and decisions created by administrative agencies.
C) the study of the rights and obligations of individuals and includes the law of property,
the law of contracts, and the law of torts.
D) concerned with the conduct of nations in their relations with other nations.
16) A_______ is a written agreement between two or more countries that serves to establish
terms of an international relationship.
A) contract
B) mandate
C) covenant
D) treaty
17) Treaties become legally binding when they are approved by_______ of the Senate.
A) one-third
B) two-thirds
C) one quarter
D) half
Version 1 3
, Chapter 1
18) The_______ system of law is known as the common law and still influences legal decisions
in the United States today.
A) civil
B) German
C) English
D) customary
19) The principles and ideals that protect individual liberty and freedom are incorporated in the
_______.
A) U.S. Executive Order Number 1579
B) operating agreement of a typical limited liability company (LLC)
C) memorandum of articles of a typical corporation
D) Constitution of the United States
20) In the United States, _______ give(s) limited, reasonable powers to the federal government.
A) the federal Constitution
B) executive orders
C) treaties
D) common law
21) Administrative agencies have the authority to:
A) establish rules that have the force of law.
B) establish rules that do not have the full force of law.
C) establish rules that the courts must follow.
D) Administrative agencies do not have any authority to establish rules.
22) The literal translation of "stare decisis" would mean _______.
A) "to stand on decided cases"
B) "to send a summons"
C) "to postpone a hearing without a date"
D) "during the pendency of a proceeding"
Version 1 4
