Chapter 1 Introduction to Law and Legal Reasoning

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Chapter 1 Introduction to Law and Legal Reasoning
TRUE/FALSE QUESTIONS A1. The stability and predictability of the law is essential to business activities. ANSWER: T PAGE: NAT: AACSB Analytic B1. 2 TYPE: AICPA Critical Thinking =

An important function of the law is to provide jurisprudence. ANSWER: F PAGE: NAT: AACSB Reflective Thinking 2 TYPE: AICPA N Critical

A2.

Law is a body of enforceable rules governing relationships among individuals and between individuals and their society. ANSWER: T PAGE: NAT: AACSB Analytic 2 AICPA Legal TYPE: =

B2.

How judges apply the law to specific disputes may depend in part on their personal philosophical views. ANSWER: T PAGE: NAT: AACSB Reflective Thinking 2 TYPE: AICPA = Critical

A3.

The basis for the U.S. legal system is natural law. 1

2

TEST BANK A—UNIT ONE: THE LEGAL ENVIRONMENT OF BUSINESS

ANSWER: F NAT: AACSB Ethics B3.

PAGE:

3 TYPE: AICPA Critical Thinking

N

A judge’s view of the law is of little importance in a common law legal system. ANSWER: F PAGE: NAT: AACSB Reflective Thinking 2 TYPE: AICPA = Critical

A4.

Constitutional law includes only the U.S. Constitution. ANSWER: F PAGE: NAT: AACSB Analytic 6 AICPA Legal TYPE: =

B4.

Congress can only pass legislation that falls within the limits set up by the U.S. Constitution. ANSWER: T PAGE: NAT: AACSB Analytic 6 AICPA Legal TYPE: +

A5.

A state constitution is supreme within the state’s borders. ANSWER: T PAGE: NAT: AACSB Analytic 6 AICPA Legal TYPE: =

B5.

The U.S. Constitution is the supreme law of the United States. ANSWER: T PAGE: NAT: AACSB Analytic 6 AICPA Legal TYPE: =

A6.

Whether a law is constitutional depends on its source. ANSWER: F PAGE: NAT: AACSB Analytic 6 AICPA Legal TYPE: =

CHAPTER 1: INTRODUCTION TO LAW AND LEGAL REASONING

3

B6.

Each state has its own constitution. ANSWER: T PAGE: NAT: AACSB Analytic 6 TYPE: AICPA Critical Thinking =

A7.

Uniform laws apply in all states, including those in which the laws have not been adopted. ANSWER: F PAGE: NAT: AACSB Analytic 6 AICPA Legal TYPE: =

B7.

The Federal Trade Commission developed the Uniform Commercial Code. ANSWER: F PAGE: NAT: AACSB Reflective Thinking 7 TYPE: AICPA = Critical

A8.

A state law that conflicts with the U.S. Constitution will be deemed unconstitutional. ANSWER: T PAGE: NAT: AACSB Analytic 6 AICPA Legal TYPE: =

B8.

State agency regulations take precedence over conflicting federal agency regulations. ANSWER: F PAGE: NAT: AACSB Analytic 7 AICPA Legal TYPE: +

A9.

Statutory law does not include county ordinances. ANSWER: F PAGE: NAT: AACSB Reflective 6 TYPE: = AICPA Legal

B9.

Common law is a term for the laws that are familiar to most of us. ANSWER: F PAGE: NAT: AACSB Analytic 8 TYPE: AICPA Critical Thinking =

A10. No state has adopted the Uniform Commercial Code in its entirety. ANSWER: F PAGE: NAT: AACSB Reflective 7 TYPE: + AICPA Legal

4

TEST BANK A—UNIT ONE: THE LEGAL ENVIRONMENT OF BUSINESS

B10. Equity is a branch of unwritten law that seeks to supply remedies other than damages. ANSWER: T PAGE: NAT: AACSB Analytic 8 AICPA Legal TYPE: +

A11. Common law is a term for law that is common throughout the world. ANSWER: F PAGE: NAT: AACSB Analytic 8 TYPE: AICPA Critical Thinking =

B11. A court’s direction to a party to stop doing a particular act is a rescission. ANSWER: F PAGE: NAT: AACSB Analytic A12. Damages is a remedy at law. ANSWER: T PAGE: NAT: AACSB Analytic 8 AICPA Legal TYPE: + 8 AICPA Legal TYPE: =

B12. In most states, the courts no longer grant “legal” remedies. ANSWER: F PAGE: NAT: AACSB Analytic 9 TYPE: AICPA Critical Thinking N

A13. Equitable remedies include injunctions and decrees of specific performance. ANSWER: T PAGE: NAT: AACSB Analytic 8 AICPA Legal TYPE: =

B13. A plaintiff is a person against whom a lawsuit is brought. ANSWER: F PAGE: NAT: AACSB Analytic 9 AICPA Legal TYPE: =

A14. In most...
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