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Business law > Test 1 > Flashcards

Test 1 Flashcards

1
Q

Sources of American Law

4 answers

A
  1. Constitutional Law
  2. Statutory Law
  3. Administrative Law
  4. Case Law & Common Law Doctrines
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2
Q

According to Mr. Cochran the aim of American society is that we all should be equal.

A

False

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3
Q

Early English courts has two separate court systems what are they?

A
  1. Courts of law

2. Courts of equity

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4
Q

“stand on decided cases”

A

Stare Decisis

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5
Q

Jurisprudence

A

Philosophy of Law

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6
Q

Schools of Jurisprudential

5 answers

A 
Natural
Historical 
Sociological 
Law and Economics 
Command
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7
Q

Assumes law, rights and ethics are based on universal moral principals inherent in nature discoverable through human reason

A

Natural

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8
Q

MLK and Thomas Jefferson are from which school?

A

Natural

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9
Q

We should not change the law until we understand why the law became the common law.

A

Historical

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10
Q

Generations of Judges and Legal Scholars have created our laws based on observations and needs of the people.

A

Historical

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11
Q

The law is just another tool with which to correct social injustice

A

Sociological

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12
Q

Obama is a part of which school?

A

Sociological

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13
Q

Economics underlie virtually all law.

A

Law and economics school

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14
Q

The economic impact should be studied and understood before a decision is made to change a law.

A

Law and economics school

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15
Q

Whoever holds power makes the law and everyone else must obey

A

Command School

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16
Q

Hilter is part of which school?

A

Command School

17
Q

Every type of law will be either:

3 answers

A

Civil or Criminal
Substantive or Procedural
Public or Private

18
Q

________ _________ is the most important funcction of the law to business

A

Facilitation Planning

19
Q

guidelines

A

Constitutional law

20
Q

Law passed by elected officials

ordinances

A

Statutory law

21
Q

Federal agencies

state and local agencies

A

Administrative law

22
Q

John Roberts belongs to which school?

A

Historical

23
Q

FDR belongs to which school?

A

sociological

24
Q

Walter Willams belongs to which school?

A

Law & Economics

25
Q

Washington State Ct. went along with the ______ school?

A

Historical

26
Q

The 9th Circut court went along with the _______ school?

A

Sociological

27
Q

Privileges and Immunities Clause.

A

Prevents States from discriminating against non-citizens

28
Q

Full Faith and Credit Clause

A

Requires States to enforce the laws and court rulings of other states, especially concerning property and criminal proceedings.

29
Q

T/F The Privileges and Immunities Clause means that states must comply and enforce the ruling of other states concerning mainly property and criminal law.

A

false

30
Q

legislative (congress)

A

creates law

31
Q

executive (presidents )

A

enforce law

32
Q

Judicial( courts)

A

interpret law

33
Q

The most important clause in the Constitution to Business.

A

The Commerce Clause

34
Q

Gives the Federal Government the Exclusive Right to Regulate Interstate Commerce.

A

The Commerce Clause

35
Q

The Constitution provides that the Constitution, laws, and treaties of the United States are the “Supreme Law of the Land.”

A

The Supremacy Clause and Federal Preemption.

36
Q

Which amendments really apply to business?

4 answers

A

1st - Freedom of speech and religion
2nd - right to keep and bear arms
4th - freedom from unreasonable searches ( business exception)
5th - right against self incrimination and due process clause

37
Q

which word is not found in the constitution?

A

privacy

38
Q

Police powers

A

NOTHING TO DO WITH POLICE

health, safety, order, morals

39
Q

The _________ is a uniform law adopted by all states that facilitates business transactions

A

Uniform commercial code

Business law (2 decks)

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