NCSU MIE 305 Exam 1 (Chapters 1-3): Questions
With Correct Solutions
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Terms in this set (114)
What is the importance The law is important to modern business. The history
of a Business Law course of business reveals the prominence of law.
in a Educators today emphasize the role of law in
business/management preparing tomorrow's business leaders.
curriculum, and/or the
importance of knowing
something about it to a
businessperson?
Knowing legal rights and duties enhances one's
How can business ability to identify legal risks and effectively reduce
people use the law to a or eliminate resulting legal liability. Knowing legal
strategic advantage? rights and duties allows business leaders to use the
law to their strategic advantage.
Series of treatises that Restatement of the Law
articulate the principles
or rules for a specific
area of law
Do the differences If the legal resource is from somewhere else or
between primary and here, then it becomes controlling or persuasive
secondary authority
change depending on
what court one is in?
What's the difference If it's a case or a statute (including administrative
between primary and rules), it's primary authority. If it's anything other than
secondary authority? a case or statute, it is secondary authority
, What is the difference Controlling authority is law that is directly binding
between controlling and on a court in that jurisdiction. Persuasive authority is
persuasive authority? law somewhere, but just not here
As legislators churn out more statutory law, there is
Why has the US by necessity more printed definition of—and
experienced an "orgy of therefore less interpretive space for—the rules of
statute-making," as it's law, and many common law principles are modified
described in the book? or even eviscerated by statutes which come along
to trump them
Courts of equity use philosophical sounding
How do judges approach
maxims, or general principles of justice, instead of
their powers of equity?
strict rules of law to decide cases.
A branch of law that developed alongside common
What is equity? law and is concerned with fairness and justice,
formerly administered in special courts
How can modern US Decisions of law typically involve monetary
judges make decisions damages, decisions of equity typically refers to
between law and/or injunctions, specific performance, or vacatur
equity, and under what
circumstances?
Before you could sue someone for those money
How did equity develop, damages, you often had to go through difficult
both in England and the procedural mechanisms to get written permission to
US? do so. This system dissuaded many parties from
going to the bother of seeking justice in that way.
What are alternatives to A civil-law or code-law system is one where all the
common law in use in legal rules are in one or more comprehensive
world legal systems? legislative enactments
Who or what was Henry II
instrumental in Common
law's development?
With Correct Solutions
Save
Terms in this set (114)
What is the importance The law is important to modern business. The history
of a Business Law course of business reveals the prominence of law.
in a Educators today emphasize the role of law in
business/management preparing tomorrow's business leaders.
curriculum, and/or the
importance of knowing
something about it to a
businessperson?
Knowing legal rights and duties enhances one's
How can business ability to identify legal risks and effectively reduce
people use the law to a or eliminate resulting legal liability. Knowing legal
strategic advantage? rights and duties allows business leaders to use the
law to their strategic advantage.
Series of treatises that Restatement of the Law
articulate the principles
or rules for a specific
area of law
Do the differences If the legal resource is from somewhere else or
between primary and here, then it becomes controlling or persuasive
secondary authority
change depending on
what court one is in?
What's the difference If it's a case or a statute (including administrative
between primary and rules), it's primary authority. If it's anything other than
secondary authority? a case or statute, it is secondary authority
, What is the difference Controlling authority is law that is directly binding
between controlling and on a court in that jurisdiction. Persuasive authority is
persuasive authority? law somewhere, but just not here
As legislators churn out more statutory law, there is
Why has the US by necessity more printed definition of—and
experienced an "orgy of therefore less interpretive space for—the rules of
statute-making," as it's law, and many common law principles are modified
described in the book? or even eviscerated by statutes which come along
to trump them
Courts of equity use philosophical sounding
How do judges approach
maxims, or general principles of justice, instead of
their powers of equity?
strict rules of law to decide cases.
A branch of law that developed alongside common
What is equity? law and is concerned with fairness and justice,
formerly administered in special courts
How can modern US Decisions of law typically involve monetary
judges make decisions damages, decisions of equity typically refers to
between law and/or injunctions, specific performance, or vacatur
equity, and under what
circumstances?
Before you could sue someone for those money
How did equity develop, damages, you often had to go through difficult
both in England and the procedural mechanisms to get written permission to
US? do so. This system dissuaded many parties from
going to the bother of seeking justice in that way.
What are alternatives to A civil-law or code-law system is one where all the
common law in use in legal rules are in one or more comprehensive
world legal systems? legislative enactments
Who or what was Henry II
instrumental in Common
law's development?
