EXAM STUDY MATERIALS 8/7/2024 11:29 AM
BUS251: Chapters 1-31 Exam Questions
With Correct Answers
Law - answer✔✔The term ______ has been defined in a variety of ways throughout history.
Principles and protections. - answer✔✔Modern legal doctrines have evolved into a relatively
complex system of _________________.
resolve disputes; rights and duties - answer✔✔The law provides a mechanism to ___________
arising from ______________ and allows parties to enforce promises in a court of law.
breach of - answer✔✔If a party to a contract breaks her promise to the other party she might be
liable for ____________ contract.
criminal - answer✔✔A charge of homicide would be a violation of ______ law.
Laws; rules; authority; force - answer✔✔__________ is a body of ___________ of action
prescribed by a controlling __________ and having binding legal ___________.
Procedural, substantive - answer✔✔_________ law sets a structure and rules for pursuing
___________ rights.
duties, obligations, and rights - answer✔✔The common characteristic of American law is that it
creates: ________________ that reflect accepted views of the society.
subject matter; employment - answer✔✔Law is often classified by the _________ so that one
refers to certain rules regarding agreements as contract law or certain laws that regulate rights of
employees as ____________ law.
Latin; French - answer✔✔Besides English, much of the language of American law is a
combination of _________ and __________ roots.
civil; substantive - answer✔✔The remedy for breach of contract may depend on the
classification of contracts as ___________ law with ___________ rights in dispute
Black's - answer✔✔The authoritative source for legal terms is called __________ Law
Dictionary.
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
Negligence - answer✔✔_________ that causes a person injury would be an example of civil
law.
collection of rules - answer✔✔Historically, recorded law was initially a(n) __________ made by
a powerful tribal chieftain to perpetuate his domination.
Substantive - answer✔✔_________ law provide individuals with rights and create certain duties.
good faith dealing; reliability - answer✔✔The law is a catalyst for commerce because it
promotes ___________ among merchants and consumers and giving some degree of
___________ that can be considered in business planning and commercial transactions.
principles and protections - answer✔✔Modern legal doctrines have evolved into a relatively
complex system of : _________________________.
attorneys - answer✔✔Business owners who rely exclusively on ____________ to drive the legal
decision-making process may create significant risks for the business.
jargon; legalese - answer✔✔Legal terms are sometimes referred to as ________ or
___________.
noncompliance, avoidance, prevention - answer✔✔Uncertainty can open up various legal
strategies: (1) _______________ (2) ____________, (3) ____________, and (4) value creation
or legal competitive advantage.
legal terms - answer✔✔Black's Law Dictionary, first published in 1891, is the authoritative
source for _________.
counsel/general counsel - answer✔✔Attorneys, particularly in a business context, may also be
referred to as __________.
consistency and fairness. - answer✔✔Over the course of three millennia, the purpose of law
evolved to ensure __________________.
constitutional law, statutory law, common law - answer✔✔In the United States, examples of
primary sources of law would include: ____________________.
resolving disputes - answer✔✔The law sets out a system for __________ among the parties by
providing a basis for deciding their legal interests and rights.
Constitutional; supreme - answer✔✔_________ law is the foundation for all other law in the
United States and is the _________ law of the land.
managers; attorneys - answer✔✔Studies and research indicate that when _______ and their
________ work cooperatively, the results contribute to better strategic business decisions that
add value to the business.
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
permanence and preemption - answer✔✔Constitutional law is different from other sources of
law primarily in terms of _____________.
strategy; uncertainty - answer✔✔Generally, a(n) ______________ refers to a plan of action and
are helpful when one is operating under conditions of ____________.
executive - answer✔✔Statutory law is created by a legislative body and approved or disapproved
by the _______ branch of government.
in-house counsel/general counsel - answer✔✔If counsel is a part of the executive management
team the counsel is referred to as __________.
primary - answer✔✔Administrative law would be an example of a _______ source of law.
EPA; deferential to - answer✔✔The _______ sets and enforces regulations on some industries
and the courts are highly _________ agency decisions and enforcement.
federalism; specific powers; procedural - answer✔✔Constitutional law: (1) established
__________, (2) granted _________ powers to the federal government; and (3) provided
_________ protections for U.S. citizens from wrongful government actions.
Preemption - answer✔✔_________ means that constitutional law is supreme over other sources
of law such as state statutes
precedent - answer✔✔_________ is the application of law from previous cases to current cases
with substantially similar circumstances.
the President - answer✔✔At the federal level, when Congress drafts a statute that has not yet
been signed by _________, it is known as a bill.
civil; precedent - answer✔✔Some countries, such as Japan, use a(n) ___________ law system
that requires courts to adhere to a strict interpretation of a legislatively established code and little
use of ___________.
Administrative - answer✔✔_________ law is the source of law that authorizes the exercise of
authority by executive branch agencies and independent government agencies.
law; equity - answer✔✔Early English courts were classified under the king's authority as either
courts of _____________, or courts of ____________.
Common - answer✔✔__________ law is essentially court-made law that has not specifically
been passed by the legislature.
remedy - answer✔✔A measure of judicial action intended to compensate an injured party in a
civil lawsuit is known as a ______________.
British - answer✔✔The U.S. system of common law is deep-seated in _________ common law.
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
Restatements of Law and Model State Statutes - answer✔✔The most important secondary
sources of law are: ____________.
fairness - answer✔✔_________ and justice would be applied in a court of equity.
stare decisis; precedent - answer✔✔The principle of ________ requires all lower courts, such as
trial courts, to follow the case precedent, meaning that any similar case from that point in time
onward would be decided according to the _________.
injunctions, restraining orders, and specific performance - answer✔✔The most common forms
of equitable relief include: _______________.
precedent - answer✔✔Courts sometimes justify departing from _________ on the basis that
technological or societal changes render a particular precedent unworkable.
uniformity - answer✔✔The purpose behind a secondary source of law is to increase the level of
_________ and __________ across courts in all 50 states.
stare decisis - answer✔✔The doctrine of _________ states that similar cases with similar facts
and issues should have the same judicial outcome.
precedent; stare decisis - answer✔✔Strict adherence to _________ and the doctrine of
___________ do not allow for evolving societal standards of behavior or expectations.
a tool for regulating personal ethics. - answer✔✔Black's Law Dictionary, as cited in the
textbook, defines "law" as including each of the following except _____________.
counsel - answer✔✔An attorney in the business context is called ________.
Public law - answer✔✔Business Corporation Law is an example of what type of law?
C. - answer✔✔Irina promised to mow Axel's lawn. In return, Axel paid her $500.00. When Irina
arrived, she became mad at Axel and only mowed one strip of grass and then mowed over his
foot and through his prized flower garden and then left. Which statement below is correct:
A) Axel can only sue Irina for one category of law, such as breach of contract because laws are
mutually exclusive.
B) Technically Irina did mow part of Axel's lawn and partial completion of a contract bars
bringing a lawsuit.
C) Axel could sue for multiple cases of actions because one particular act of transaction may be
classified in more than one legal category.
D) Axel would be barred from recovery because he invited Irina to his house.
BUS251: Chapters 1-31 Exam Questions
With Correct Answers
Law - answer✔✔The term ______ has been defined in a variety of ways throughout history.
Principles and protections. - answer✔✔Modern legal doctrines have evolved into a relatively
complex system of _________________.
resolve disputes; rights and duties - answer✔✔The law provides a mechanism to ___________
arising from ______________ and allows parties to enforce promises in a court of law.
breach of - answer✔✔If a party to a contract breaks her promise to the other party she might be
liable for ____________ contract.
criminal - answer✔✔A charge of homicide would be a violation of ______ law.
Laws; rules; authority; force - answer✔✔__________ is a body of ___________ of action
prescribed by a controlling __________ and having binding legal ___________.
Procedural, substantive - answer✔✔_________ law sets a structure and rules for pursuing
___________ rights.
duties, obligations, and rights - answer✔✔The common characteristic of American law is that it
creates: ________________ that reflect accepted views of the society.
subject matter; employment - answer✔✔Law is often classified by the _________ so that one
refers to certain rules regarding agreements as contract law or certain laws that regulate rights of
employees as ____________ law.
Latin; French - answer✔✔Besides English, much of the language of American law is a
combination of _________ and __________ roots.
civil; substantive - answer✔✔The remedy for breach of contract may depend on the
classification of contracts as ___________ law with ___________ rights in dispute
Black's - answer✔✔The authoritative source for legal terms is called __________ Law
Dictionary.
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
Negligence - answer✔✔_________ that causes a person injury would be an example of civil
law.
collection of rules - answer✔✔Historically, recorded law was initially a(n) __________ made by
a powerful tribal chieftain to perpetuate his domination.
Substantive - answer✔✔_________ law provide individuals with rights and create certain duties.
good faith dealing; reliability - answer✔✔The law is a catalyst for commerce because it
promotes ___________ among merchants and consumers and giving some degree of
___________ that can be considered in business planning and commercial transactions.
principles and protections - answer✔✔Modern legal doctrines have evolved into a relatively
complex system of : _________________________.
attorneys - answer✔✔Business owners who rely exclusively on ____________ to drive the legal
decision-making process may create significant risks for the business.
jargon; legalese - answer✔✔Legal terms are sometimes referred to as ________ or
___________.
noncompliance, avoidance, prevention - answer✔✔Uncertainty can open up various legal
strategies: (1) _______________ (2) ____________, (3) ____________, and (4) value creation
or legal competitive advantage.
legal terms - answer✔✔Black's Law Dictionary, first published in 1891, is the authoritative
source for _________.
counsel/general counsel - answer✔✔Attorneys, particularly in a business context, may also be
referred to as __________.
consistency and fairness. - answer✔✔Over the course of three millennia, the purpose of law
evolved to ensure __________________.
constitutional law, statutory law, common law - answer✔✔In the United States, examples of
primary sources of law would include: ____________________.
resolving disputes - answer✔✔The law sets out a system for __________ among the parties by
providing a basis for deciding their legal interests and rights.
Constitutional; supreme - answer✔✔_________ law is the foundation for all other law in the
United States and is the _________ law of the land.
managers; attorneys - answer✔✔Studies and research indicate that when _______ and their
________ work cooperatively, the results contribute to better strategic business decisions that
add value to the business.
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
permanence and preemption - answer✔✔Constitutional law is different from other sources of
law primarily in terms of _____________.
strategy; uncertainty - answer✔✔Generally, a(n) ______________ refers to a plan of action and
are helpful when one is operating under conditions of ____________.
executive - answer✔✔Statutory law is created by a legislative body and approved or disapproved
by the _______ branch of government.
in-house counsel/general counsel - answer✔✔If counsel is a part of the executive management
team the counsel is referred to as __________.
primary - answer✔✔Administrative law would be an example of a _______ source of law.
EPA; deferential to - answer✔✔The _______ sets and enforces regulations on some industries
and the courts are highly _________ agency decisions and enforcement.
federalism; specific powers; procedural - answer✔✔Constitutional law: (1) established
__________, (2) granted _________ powers to the federal government; and (3) provided
_________ protections for U.S. citizens from wrongful government actions.
Preemption - answer✔✔_________ means that constitutional law is supreme over other sources
of law such as state statutes
precedent - answer✔✔_________ is the application of law from previous cases to current cases
with substantially similar circumstances.
the President - answer✔✔At the federal level, when Congress drafts a statute that has not yet
been signed by _________, it is known as a bill.
civil; precedent - answer✔✔Some countries, such as Japan, use a(n) ___________ law system
that requires courts to adhere to a strict interpretation of a legislatively established code and little
use of ___________.
Administrative - answer✔✔_________ law is the source of law that authorizes the exercise of
authority by executive branch agencies and independent government agencies.
law; equity - answer✔✔Early English courts were classified under the king's authority as either
courts of _____________, or courts of ____________.
Common - answer✔✔__________ law is essentially court-made law that has not specifically
been passed by the legislature.
remedy - answer✔✔A measure of judicial action intended to compensate an injured party in a
civil lawsuit is known as a ______________.
British - answer✔✔The U.S. system of common law is deep-seated in _________ common law.
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
Restatements of Law and Model State Statutes - answer✔✔The most important secondary
sources of law are: ____________.
fairness - answer✔✔_________ and justice would be applied in a court of equity.
stare decisis; precedent - answer✔✔The principle of ________ requires all lower courts, such as
trial courts, to follow the case precedent, meaning that any similar case from that point in time
onward would be decided according to the _________.
injunctions, restraining orders, and specific performance - answer✔✔The most common forms
of equitable relief include: _______________.
precedent - answer✔✔Courts sometimes justify departing from _________ on the basis that
technological or societal changes render a particular precedent unworkable.
uniformity - answer✔✔The purpose behind a secondary source of law is to increase the level of
_________ and __________ across courts in all 50 states.
stare decisis - answer✔✔The doctrine of _________ states that similar cases with similar facts
and issues should have the same judicial outcome.
precedent; stare decisis - answer✔✔Strict adherence to _________ and the doctrine of
___________ do not allow for evolving societal standards of behavior or expectations.
a tool for regulating personal ethics. - answer✔✔Black's Law Dictionary, as cited in the
textbook, defines "law" as including each of the following except _____________.
counsel - answer✔✔An attorney in the business context is called ________.
Public law - answer✔✔Business Corporation Law is an example of what type of law?
C. - answer✔✔Irina promised to mow Axel's lawn. In return, Axel paid her $500.00. When Irina
arrived, she became mad at Axel and only mowed one strip of grass and then mowed over his
foot and through his prized flower garden and then left. Which statement below is correct:
A) Axel can only sue Irina for one category of law, such as breach of contract because laws are
mutually exclusive.
B) Technically Irina did mow part of Axel's lawn and partial completion of a contract bars
bringing a lawsuit.
C) Axel could sue for multiple cases of actions because one particular act of transaction may be
classified in more than one legal category.
D) Axel would be barred from recovery because he invited Irina to his house.
