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Exam 1: An Introduction to the Fundamentals of Dynamic Business Law

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Question 21

Multiple Choice

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Which of the following most accurately sets forth ways into which law may be divided and classified?

A) National versus international.
B) Federal versus state.
C) Public versus private.
D) National versus international, and federal versus state, but not public versus private.
E) National versus international, federal versus state, and public versus private.

F) C) and D)
G) B) and D)

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Question 22

Multiple Choice

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Which of the following are summaries of common law rules in a particular area of the law that have been enacted by most states?

A) Restatements of the Law
B) Codifications of the Law
C) Reporters
D) Reports of the Law
E) Codes of Reporters

F) None of the above
G) A) and B)

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Question 23

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Laws are enforced by which of the following?

The "public disclosure" test for ethical behavior is sometimes referred to as the ______ test.

Reference - Environmental Concerns. Connie, the president of a company that makes paper, has a new interest in the environment. She recently went to a seminar on environmental dangers and has decided to take steps to clean things up. She started at home and was also convicted to change things at work. Connie had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in a nearby river. Her company has never been cited, however, because it employs a very large number of people in the community, including the mayor's wife and the chief-of-police's brother. On her mission to clean things up, Connie has decided to go even further than the law requires and install the very latest environmental protections. When she announced her plan, the chair of the company's board of directors, Brooke, had a meeting with Connie. Brooke told Connie to analyze the situation carefully because the cost of the additional equipment would mean no dividend to shareholders and no raise for employees. Furthermore, Brooke told Connie that installing all the new equipment would result in higher prices for the company's paper products and could bankrupt the company because of foreign competition. Brooke hinted that Connie could be fired if she persisted. Brooke suggested that Connie just be concerned with a minimal standard of ethics. Which of the following would be a stakeholder in the company?

Which of the following cases is referenced in the text as a use of stare decisis as binding precedent, in that it abolished discriminatory policies for individuals of different racial backgrounds?

When courts rely on precedent, they are obeying ______.

Assume a judge writes that she is deciding to enforce a law in question but that her decision does not mean that she sees the law as the morally correct rule. The judge would have leanings in the direction of ______.

Reference - International Expansion. Zach wants to expand his coffee business internationally-into Zeno, a small remote country in Africa. His best friend Zora asks him if he plans to hire legal counsel for the expansion. Zach replies, "Of course not. The U.S. has the most strict laws regarding contracts, employment, and business practices. So long as I'm legal here, I'm legal anywhere. Besides, I studied up on Zeno law ten years ago, and I know it all." Zach proceeds and lands in jail in the remote country of Zeno for violating recently past laws protecting employees and mandating certain benefits. Authorities there claim that he sexually harassed an employee, failed to pay sufficient wages, and failed to give employees Zeno's mandated 12 weeks of vacation per year. Which of the following is true regarding Zach's defense that he thought he knew the law of Zeno because he had studied it some years before and that the laws under which he was arrested were new?

Legislative acts passed by state legislatures can be found in ______.

Reference - The Stolen Book. Susan is told by Betty that Bob stole her business law book from her car. The next day Susan confronts Bob and slaps him for stealing her book. Bob had Susan arrested for slapping him. Susan sues Bob for damages in the amount of the book and for maliciously having her arrested. Claiming that she lied, Bob sues Betty for defamation. The action Bob has against Betty for defamation involves which of the following?

List the purposes of the law and discuss why these purposes are necessary for an ordered society.

The United States Constitution and the ________ establish the fundamental principles and rules by which the United States and the several states are governed.

Business law consists of the suggested rules of conduct that govern commercial relationships.

The term ______ involves the use of past decisions to guide future decisions.

The ______ is a significant body of law to business activities including sales, banking, and warranty.

The ______ for ethical behavior seeks consideration of what the world would be like if a decision is copied by everyone else.

Reference - The Stolen Book. Susan is told by Betty that Bob stole her business law book from her car. The next day Susan confronts Bob and slaps him for stealing her book. Bob had Susan arrested for slapping him. Susan sues Bob for damages in the amount of the book and for maliciously having her arrested. Claiming that she lied, Bob sues Betty for defamation. The prosecution by the government against Susan for slapping Bob involves which of the following?

Which of the following is a term used to refer to laws that are contained in one convenient location?

Because of the law, we rely on the goodwill and dependability of one another.