NCSU MIE 305 Exam 1 (Chapters 1-3)
What is the importance of a Business Law course in a business/management
curriculum, and/or the importance of knowing something about it to a businessperson? -
*answers *The law is important to modern business. The history of business reveals the
prominence of law. Educators today emphasize the role of law in preparing tomorrow's
business leaders.
How can business people use the law to a strategic advantage? - *answers *Knowing
legal rights and duties enhances one's ability to identify legal risks and effectively
reduce or eliminate resulting legal liability. Knowing legal rights and duties allows
business leaders to use the law to their strategic advantage.
Series of treatises that articulate the principles or rules for a specific area of law -
*answers *Restatement of the Law
Do the differences between primary and secondary authority change depending on
what court one is in? - *answers *If the legal resource is from somewhere else or here,
then it becomes controlling or persuasive
What's the difference between primary and secondary authority? - *answers *If it's a
case or a statute (including administrative rules), it's primary authority. If it's anything
other than a case or statute, it is secondary authority
What is the difference between controlling and persuasive authority? - *answers
*Controlling authority is law that is directly binding on a court in that jurisdiction.
Persuasive authority is law somewhere, but just not here
Why has the US experienced an "orgy of statute-making," as it's described in the book?
- *answers *As legislators churn out more statutory law, there is by necessity more
printed definition of—and therefore less interpretive space for—the rules of law, and
many common law principles are modified or even eviscerated by statutes which come
along to trump them
How do judges approach their powers of equity? - *answers *Courts of equity use
philosophical sounding maxims, or general principles of justice, instead of strict rules of
law to decide cases.
What is equity? - *answers *A branch of law that developed alongside common law and
is concerned with fairness and justice, formerly administered in special courts
How can modern US judges make decisions between law and/or equity, and under what
circumstances? - *answers *Decisions of law typically involve monetary damages,
decisions of equity typically refers to injunctions, specific performance, or vacatur
How did equity develop, both in England and the US? - *answers *Before you could
sue someone for those money damages, you often had to go through difficult
, NCSU MIE 305 Exam 1 (Chapters 1-3)
procedural mechanisms to get written permission to do so. This system dissuaded
many parties from going to the bother of seeking justice in that way.
What are alternatives to common law in use in world legal systems? - *answers *A civil-
law or code-law system is one where all the legal rules are in one or more
comprehensive legislative enactments
Who or what was instrumental in Common law's development? - *answers *Henry II
How did the Common Law come to be, and how was it spread across England? -
*answers *Henry II streamlined the court system and standardized it throughout the
land, requiring great deference be paid to the decisions of the curia regis and
developing a system of "ridings" and "circuits". Judges would learn from each other the
intended interpretation of rulings from the curia regis, and as they shared their own case
decisions with each other, a general consensus among judges of what the common law
rule should be in a certain case with a certain set of facts developed
What is judicial review, and why was Marbury v. Madison important to that concept? -
*answers *The power of the judiciary to review the actions of the other branches of
government and to set them aside as null and void if they are in violation of the
Constitution. In this case, they literally created for the court a power that the founding
fathers had not enumerated (spelled out) in the Constitution.
What are the four sources of law, and how do they fit hierarchically? - *answers *(1)
constitutions; (2) legislation; (3) administrative agencies; and (4) common law rules.
What is the significance of Llewelyn and Hoebel's The Cheyenne Way? - *answers
*They used a rich oral history to transmit the rules from generation to generation, there
was no need to write the rules down or put them in reference books anywhere.
Do legal systems have to be written? - *answers *For code law yes, for civil and
common law no.
What are the objectives of a legal system? - *answers *1. Promote order in society.
2. The ability for individuals and entities to achieve justice
3. Cultivate a sense of reasonableness.
criminal law - *answers *Legally enforceable rules that forbid certain conduct as being
detrimental to the welfare of the state or the people generally, and provides punishment
for their violation.
What is Vago's conflict perspectives? - *answers *It considers society as consisting of
individuals and groups characterized by conflict and dissension and held together by
coercion
What is the importance of a Business Law course in a business/management
curriculum, and/or the importance of knowing something about it to a businessperson? -
*answers *The law is important to modern business. The history of business reveals the
prominence of law. Educators today emphasize the role of law in preparing tomorrow's
business leaders.
How can business people use the law to a strategic advantage? - *answers *Knowing
legal rights and duties enhances one's ability to identify legal risks and effectively
reduce or eliminate resulting legal liability. Knowing legal rights and duties allows
business leaders to use the law to their strategic advantage.
Series of treatises that articulate the principles or rules for a specific area of law -
*answers *Restatement of the Law
Do the differences between primary and secondary authority change depending on
what court one is in? - *answers *If the legal resource is from somewhere else or here,
then it becomes controlling or persuasive
What's the difference between primary and secondary authority? - *answers *If it's a
case or a statute (including administrative rules), it's primary authority. If it's anything
other than a case or statute, it is secondary authority
What is the difference between controlling and persuasive authority? - *answers
*Controlling authority is law that is directly binding on a court in that jurisdiction.
Persuasive authority is law somewhere, but just not here
Why has the US experienced an "orgy of statute-making," as it's described in the book?
- *answers *As legislators churn out more statutory law, there is by necessity more
printed definition of—and therefore less interpretive space for—the rules of law, and
many common law principles are modified or even eviscerated by statutes which come
along to trump them
How do judges approach their powers of equity? - *answers *Courts of equity use
philosophical sounding maxims, or general principles of justice, instead of strict rules of
law to decide cases.
What is equity? - *answers *A branch of law that developed alongside common law and
is concerned with fairness and justice, formerly administered in special courts
How can modern US judges make decisions between law and/or equity, and under what
circumstances? - *answers *Decisions of law typically involve monetary damages,
decisions of equity typically refers to injunctions, specific performance, or vacatur
How did equity develop, both in England and the US? - *answers *Before you could
sue someone for those money damages, you often had to go through difficult
, NCSU MIE 305 Exam 1 (Chapters 1-3)
procedural mechanisms to get written permission to do so. This system dissuaded
many parties from going to the bother of seeking justice in that way.
What are alternatives to common law in use in world legal systems? - *answers *A civil-
law or code-law system is one where all the legal rules are in one or more
comprehensive legislative enactments
Who or what was instrumental in Common law's development? - *answers *Henry II
How did the Common Law come to be, and how was it spread across England? -
*answers *Henry II streamlined the court system and standardized it throughout the
land, requiring great deference be paid to the decisions of the curia regis and
developing a system of "ridings" and "circuits". Judges would learn from each other the
intended interpretation of rulings from the curia regis, and as they shared their own case
decisions with each other, a general consensus among judges of what the common law
rule should be in a certain case with a certain set of facts developed
What is judicial review, and why was Marbury v. Madison important to that concept? -
*answers *The power of the judiciary to review the actions of the other branches of
government and to set them aside as null and void if they are in violation of the
Constitution. In this case, they literally created for the court a power that the founding
fathers had not enumerated (spelled out) in the Constitution.
What are the four sources of law, and how do they fit hierarchically? - *answers *(1)
constitutions; (2) legislation; (3) administrative agencies; and (4) common law rules.
What is the significance of Llewelyn and Hoebel's The Cheyenne Way? - *answers
*They used a rich oral history to transmit the rules from generation to generation, there
was no need to write the rules down or put them in reference books anywhere.
Do legal systems have to be written? - *answers *For code law yes, for civil and
common law no.
What are the objectives of a legal system? - *answers *1. Promote order in society.
2. The ability for individuals and entities to achieve justice
3. Cultivate a sense of reasonableness.
criminal law - *answers *Legally enforceable rules that forbid certain conduct as being
detrimental to the welfare of the state or the people generally, and provides punishment
for their violation.
What is Vago's conflict perspectives? - *answers *It considers society as consisting of
individuals and groups characterized by conflict and dissension and held together by
coercion
