{TESTBANK} LES 305 Clark > Legal Environment of Business
Verified Multiple Choice and Conceptual Actual Emended
Exam Questions With Reviewed 100% Correct Detailed
Answers
Guaranteed Pass!!Current Update!!
LES305: Legal Environment of Business covers:
• The U.S. legal system and courts
• Contracts (formation, enforceability, performance, remedies)
• Torts and product liability
• Business crimes and ethics
• Employment and agency law
• Business organizations (sole proprietorships, partnerships, corporations,
LLCs)
• Government regulation of business (antitrust, securities, consumer
protection)
• Property and intellectual property law
1. Which of the following are primary sources of U.S. law?
• Legal textbooks
• The U.S. Constitution
• Federal and state statutes
• Administrative regulations
• Case law (judicial decisions) Answer: A
,2. Which of the following is the supreme law of the land in the United States?
A) Federal statutes
B) The U.S. Constitution
C) State constitutions
D) Case law
Answer: B
3. Which type of law is created by legislative bodies such as Congress or state
legislatures?
A) Common Law
B) Statutory Law
C) Administrative Law
D) Case Law
Answer: B
3. Which doctrine requires courts to follow precedents established in prior
cases?
A) Habeas Corpus
B) Stare Decisis
C) Res Ipsa Loquitur
D) Caveat Emptor
Answer: B
4. Which of the following are trial courts in the federal system?
A) U.S. Supreme Court
B) U.S. District Courts
C) U.S. Courts of Appeals
D) State Circuit Courts
Answer: B
,5. Which of the following best describes administrative law?
A) Laws found only in the Constitution
B) Judicial decisions interpreting statutes
C) Rules created by government agencies under authority granted by legislatures
D) Local ordinances created by city councils
Answer: C
6. Which of the following is the final authority on questions of federal law?
A) State Supreme Courts
B) U.S. Supreme Court
C) U.S. District Courts
D) Federal Circuit Courts
Answer: B
7. Which type of jurisdiction refers to a court’s authority over the subject matter
of the dispute?
A) Personal Jurisdiction
B) Subject Matter Jurisdiction
C) Appellate Jurisdiction
D) Venue
Answer: B
8. Which of the following is NOT a form of Alternative Dispute Resolution (ADR)?
A) Arbitration
B) Mediation
C) Negotiation
D) Jury Trial
Answer: D
, 9. Which of the following cases would most likely be heard in federal court?
A) A state divorce proceeding
B) A traffic violation
C) A contract dispute between citizens of two different states with $100,000 at
issue
D) A local landlord-tenant dispute
Answer: C
10. Which of the following is true about state court systems?
A) They handle most family law, contract, and tort cases.
B) They can create statutes for all states.
C) They cannot interpret the U.S. Constitution.
D) Their decisions cannot be appealed.
Answer: A
1. Which of the following is NOT one of the four essential elements of a valid
contract?
A) Consideration
B) Offer
C) Legality
D) Motive
Answer: D
2. A contract in which both parties exchange promises to perform is known as a:
A) Unilateral Contract
B) Bilateral Contract
C) Quasi Contract
D) Void Contract
Answer: B
Verified Multiple Choice and Conceptual Actual Emended
Exam Questions With Reviewed 100% Correct Detailed
Answers
Guaranteed Pass!!Current Update!!
LES305: Legal Environment of Business covers:
• The U.S. legal system and courts
• Contracts (formation, enforceability, performance, remedies)
• Torts and product liability
• Business crimes and ethics
• Employment and agency law
• Business organizations (sole proprietorships, partnerships, corporations,
LLCs)
• Government regulation of business (antitrust, securities, consumer
protection)
• Property and intellectual property law
1. Which of the following are primary sources of U.S. law?
• Legal textbooks
• The U.S. Constitution
• Federal and state statutes
• Administrative regulations
• Case law (judicial decisions) Answer: A
,2. Which of the following is the supreme law of the land in the United States?
A) Federal statutes
B) The U.S. Constitution
C) State constitutions
D) Case law
Answer: B
3. Which type of law is created by legislative bodies such as Congress or state
legislatures?
A) Common Law
B) Statutory Law
C) Administrative Law
D) Case Law
Answer: B
3. Which doctrine requires courts to follow precedents established in prior
cases?
A) Habeas Corpus
B) Stare Decisis
C) Res Ipsa Loquitur
D) Caveat Emptor
Answer: B
4. Which of the following are trial courts in the federal system?
A) U.S. Supreme Court
B) U.S. District Courts
C) U.S. Courts of Appeals
D) State Circuit Courts
Answer: B
,5. Which of the following best describes administrative law?
A) Laws found only in the Constitution
B) Judicial decisions interpreting statutes
C) Rules created by government agencies under authority granted by legislatures
D) Local ordinances created by city councils
Answer: C
6. Which of the following is the final authority on questions of federal law?
A) State Supreme Courts
B) U.S. Supreme Court
C) U.S. District Courts
D) Federal Circuit Courts
Answer: B
7. Which type of jurisdiction refers to a court’s authority over the subject matter
of the dispute?
A) Personal Jurisdiction
B) Subject Matter Jurisdiction
C) Appellate Jurisdiction
D) Venue
Answer: B
8. Which of the following is NOT a form of Alternative Dispute Resolution (ADR)?
A) Arbitration
B) Mediation
C) Negotiation
D) Jury Trial
Answer: D
, 9. Which of the following cases would most likely be heard in federal court?
A) A state divorce proceeding
B) A traffic violation
C) A contract dispute between citizens of two different states with $100,000 at
issue
D) A local landlord-tenant dispute
Answer: C
10. Which of the following is true about state court systems?
A) They handle most family law, contract, and tort cases.
B) They can create statutes for all states.
C) They cannot interpret the U.S. Constitution.
D) Their decisions cannot be appealed.
Answer: A
1. Which of the following is NOT one of the four essential elements of a valid
contract?
A) Consideration
B) Offer
C) Legality
D) Motive
Answer: D
2. A contract in which both parties exchange promises to perform is known as a:
A) Unilateral Contract
B) Bilateral Contract
C) Quasi Contract
D) Void Contract
Answer: B
