Business Law

Topics: Common law, Law, Supreme Court of the United States Pages: 7 (1615 words) Published: July 14, 2013
Multiple Choice Questions Learning ResourcesTextbook:Business Law Seventh Edition, 2010 Henry R. Cheeseman Prentice Hall

1) According to Judge Jerome Frank, uncertainty in the law:

a. is an unfortunate accident
b. should be avoided whenever possible
c. is of immense social value
d. does not exist in the U.S. legal system

2) Which of the following is most consistent with the Natural Law School of jurisprudence?

e. Law is based on moral and ethical principles of what are right, and it is the job of men and women, through study, to discover what these principles are. f. The law is a reflection of society, thus the law must change naturally as society changes over time. g. The laws of man are secondary to the laws of nature, and thus the laws of nature take precedence whenever the laws of man are in conflict with the laws of nature. h. By applying the rules of logic to specific cases, the logical, or natural, result will be obtained. i. Laws must first and foremost respect, preserve, and promote the preservation of the environment and life in all its forms.

3) The school of jurisprudence that believes that free market forces should determine the out comes to lawsuits is the:

j. Command school
k. Sociological school
l. Critical Legal Studies school
m. Law and Economics school

4) What is an equity court’s function?

n. To deal with just the law of merchants.
o. To issue opinions in cases that later set the precedent for similar cases. p. To investigate the merits of a case.
q. To issue executive orders.
r. To set state or federal laws between two or more nations.

5) The Uniform Commercial Code is an example of what type of law?

s. statutory law
t. treaty
u. administrative law
v. judicial law
w. executive order

6) When statutes are organized by topic, the resulting compilation of law is known as:

x. codified law
y. common law
z. civil law
{. precedent

7) Which of the following powers do administrative agencies typically have?

|. rulemaking only
}. statute interpretation
~. dispute adjudication only
. All of these are correct.

8) The Federal Trade Commission is an example of:

. a federal agency created by Congress
. a corporation subsidized by the federal government
. a branch of the U.S. Supreme Court
. a temporary commission created by executive order that has become permanent . a judicially created subdivision of the executive branch

9) John lives in a large city and desires to start an airport shuttle service. In order to do so, John must go through a complicated permit application and approval process. John believes that this process is in place in order to protect the persons already operating such services. John believes that these rules are arbitrary, and he should be allowed to start his business based on general notions of fairness. John’s beliefs most closely correspond to which school of jurisprudence?

. Critical Legal Studies School
. Law and Economics School
. Natural Law School
. Historical School
. Sociological School

10) The U.S. court of federal claims hears what kinds of cases?

. any case with claims involving more than one state
. civil cases where at least $75,000 is in dispute
. cases against the United States
. cases where counterclaims have been filed
. cases involving disputes in the way an earlier case was decided

11) The consequence of a plurality decision is that:

. the decision of the Circuit Court of Appeals is affirmed . the case is not decided and will be reheard at a later date . the case is decided but is not precedent for...
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