Question 1

Raising additional capital so that a business can grow is a strategy problem and not a legal issue.

Accepted Answer

A) True 
 B)False  False

Question 2

A small business owner is likely to face legal questions when determining ways to reduce business taxes.

Accepted Answer

A) True 
 B)False

Question 3

In an action against Gina, Harry obtains a remedy. This is

Accepted Answer

A)   an administrative agency's enforcement of its rule.
B)   a principle of the law derived from earlier court cases.
C)   a statute enacted by a state legislature or Congress.
D)   the legal means to recover a right or compensate for a wrong.E) A) and C)
F) B) and C)

Question 4

Kevin is a judge hearing the case of Local Dispatch Co. v. National Transport Corp . Applying the relevant rule of law to the facts of the case requires Kevin to find previously decided cases that, in relation to the case under consideration, are

Accepted Answer

A)   as different as possible.
B)   as similar as possible.
C)   at odds.
D)   exactly identical.E) All of the above
F) None of the above

Question 5

In a suit against Guy, Holly obtains an award of damages. This is

Accepted Answer

A)   an order to do or not do a certain act.
B)   the right to harm another.
C)   a payment of money for a harm suffered.
D)   the cancellation of a contract.E) A) and B)
F) A) and C)

Question 6

Small business owners are company leaders who do not have to deal with management issues and understand the detailed laws.

Accepted Answer

A) True 
 B)False  False

Question 7

Stare decisis is best defined as

Accepted Answer

A)   a doctrine under which judges follow established precedents.
B)   the authority to decide a specific dispute.
C)   a judicial proceeding to redress a wrong.
D)   a situation giving a person a right to initiate a judicial proceeding.E) All of the above
F) None of the above

Question 8

Being a small-business owner means that you will never have to take on the role of a human resources manager.

Accepted Answer

A) True 
 B)False

Question 9

Remedies in equity include injunctions.

Accepted Answer

A) True 
 B)False

Question 10

As a judge, Bonnie applies common law rules. These rules develop from

Accepted Answer

A)   decisions of the courts in legal disputes.
B)   regulations issued by administrative agencies.
C)   statutes enacted by Congress and the state legislatures.
D)   uniform laws drafted by legal scholars.E) A) and C)
F) All of the above

Question 11

SoYeon is fined by the Environmental Protection Agency for violation of an agency regulation. SoYeon argues that the regulation conflicts with the U.S. Constitution. If there is a conflict, discuss whether the regulation is valid and why or why not. Also discuss what is the impact of your analysis on this situation.

Accepted Answer

The U.S. Constitution is the supreme law of the land. A law in violation of the Constitution, no matter what its source, will be declared unconstitutional and will not be enforced. Thus, the regulation does not have priority over the Constitution. The regulation would be declared unconstitutional and would be invalid.   As a result, SoYeon would not have to pay the fine.

Question 12

Common law is a term for the laws that are familiar to most of us.

Accepted Answer

A) True 
 B)False

Question 13

Damages traditionally were awarded by courts of law only.

Accepted Answer

A) True 
 B)False

Question 14

To benefit from international trade, individual nations agree to be governed by

Accepted Answer

A)   international law.
B)   the Uniform Commercial Code.
C)   civil law systems.
D)   the laws of other nations.E) B) and D)
F) B) and C)

Question 15

Discuss the doctrine known as stare decisis .  What does this doctrine have to do with the American legal system?

Accepted Answer

In a common law legal system, past judic...

Question 16

Business people do not need to understand court processes because if they are sued, the lawyers will know those rules.

Accepted Answer

A) True 
 B)False

Question 17

Stare decisis is a doctrine obligating judges to help persons who have failed to protect their own rights.

Accepted Answer

A) True 
 B)False

Question 18

Constitutional law includes only the U.S. Constitution.

Accepted Answer

A) True 
 B)False

Question 19

The study of business law does not involve an ethical dimension.

Accepted Answer

A) True 
 B)False

Question 20

The Consumer Product Safety Commission is a government agency that issues rules, orders, and decisions. The Ohio state legislature enacts statutes. The Wayne County Board and the Midford City Council enact ordinances. Administrative law includes

Accepted Answer

A)   all laws that affect business operations.
B)   the rules, orders, and decisions of the Consumer Product Safety Commission.
C)   the Ohio state statutes.
D)   the Midford City ordinances.E) None of the above
F) B) and D)

Exam 1: Introduction to the Law

Raising additional capital so that a business can grow is a strategy problem and not a legal issue.

Correct Answer
verified
False

A small business owner is likely to face legal questions when determining ways to reduce business taxes.

Correct Answer
verified

In an action against Gina, Harry obtains a remedy. This is

Correct Answer
verified

Kevin is a judge hearing the case of Local Dispatch Co. v. National Transport Corp . Applying the relevant rule of law to the facts of the case requires Kevin to find previously decided cases that, in relation to the case under consideration, are

Correct Answer
verified

In a suit against Guy, Holly obtains an award of damages. This is

Correct Answer
verified

Small business owners are company leaders who do not have to deal with management issues and understand the detailed laws.

Correct Answer
verified
False

Stare decisis is best defined as

Correct Answer
verified

Being a small-business owner means that you will never have to take on the role of a human resources manager.

Correct Answer
verified

Remedies in equity include injunctions.

Correct Answer
verified

As a judge, Bonnie applies common law rules. These rules develop from

Correct Answer
verified

Common law is a term for the laws that are familiar to most of us.

Correct Answer
verified

Damages traditionally were awarded by courts of law only.

Correct Answer
verified

To benefit from international trade, individual nations agree to be governed by

Correct Answer
verified

Discuss the doctrine known as stare decisis . What does this doctrine have to do with the American legal system?

Correct Answer
verified
In a common law legal system, past judic...
View Answer

Business people do not need to understand court processes because if they are sued, the lawyers will know those rules.

Correct Answer
verified

Stare decisis is a doctrine obligating judges to help persons who have failed to protect their own rights.

Correct Answer
verified

Constitutional law includes only the U.S. Constitution.

Correct Answer
verified

The study of business law does not involve an ethical dimension.

Correct Answer
verified

The Consumer Product Safety Commission is a government agency that issues rules, orders, and decisions. The Ohio state legislature enacts statutes. The Wayne County Board and the Midford City Council enact ordinances. Administrative law includes

Correct Answer
verified

Exam 1: Introduction to the Law

Raising additional capital so that a business can grow is a strategy problem and not a legal issue.

Correct AnswerverifiedFalse

A small business owner is likely to face legal questions when determining ways to reduce business taxes.

Correct AnswerverifiedShow Answer

In an action against Gina, Harry obtains a remedy. This is

Correct AnswerverifiedShow Answer

Kevin is a judge hearing the case of Local Dispatch Co. v. National Transport Corp . Applying the relevant rule of law to the facts of the case requires Kevin to find previously decided cases that, in relation to the case under consideration, are

Correct AnswerverifiedShow Answer

In a suit against Guy, Holly obtains an award of damages. This is

Correct AnswerverifiedShow Answer

Small business owners are company leaders who do not have to deal with management issues and understand the detailed laws.

Correct AnswerverifiedFalse

Stare decisis is best defined as

Correct AnswerverifiedShow Answer

Being a small-business owner means that you will never have to take on the role of a human resources manager.

Correct AnswerverifiedShow Answer

Remedies in equity include injunctions.

Correct AnswerverifiedShow Answer

As a judge, Bonnie applies common law rules. These rules develop from

Correct AnswerverifiedShow Answer

Common law is a term for the laws that are familiar to most of us.

Correct AnswerverifiedShow Answer

Damages traditionally were awarded by courts of law only.

Correct AnswerverifiedShow Answer

To benefit from international trade, individual nations agree to be governed by

Correct AnswerverifiedShow Answer

Discuss the doctrine known as stare decisis . What does this doctrine have to do with the American legal system?

Correct AnswerverifiedIn a common law legal system, past judic...View AnswerShow Answer

Business people do not need to understand court processes because if they are sued, the lawyers will know those rules.

Correct AnswerverifiedShow Answer

Stare decisis is a doctrine obligating judges to help persons who have failed to protect their own rights.

Correct AnswerverifiedShow Answer

Constitutional law includes only the U.S. Constitution.

Correct AnswerverifiedShow Answer

The study of business law does not involve an ethical dimension.

Correct AnswerverifiedShow Answer

The Consumer Product Safety Commission is a government agency that issues rules, orders, and decisions. The Ohio state legislature enacts statutes. The Wayne County Board and the Midford City Council enact ordinances. Administrative law includes

Correct AnswerverifiedShow Answer

Correct Answer
verified
False

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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False

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In a common law legal system, past judic...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified