Question 1

________ are summaries of the common law rules in a particular area of the law that have been enacted by most states.
A)Appellate briefs
B)Amicus briefs
C)Statutes
D)Codifications
E)Restatements

Accepted Answer

Restatements of the law are summaries of the common law rules in a particular area of the law that have been enacted by most states.

Question 2

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

Accepted Answer

Just as state statutes have been strongly influenced by the suggestions of the National Conference of Commissioners on Uniform State Laws (NCC),common law evolves with the assistance of a mechanism called Restatements of the Law.These Restatements are summaries of the common law rules in a particular area of the law that have been enacted by most states.

Question 3

Which of the following is a term used to refer to laws that are contained in one convenient location?
A)Area laws
B)Codes
C)Classifications
D)Filings
E)Reports

Accepted Answer

The codes are a collection of all the laws in one convenient location.

Question 4

The United States Constitution and ________ establish the fundamental principles and rules by which the United States and the several states are governed.
A)the administrative rules
B)the procedural rules
C)the constitution of each state
D)the bylaws of each state
E)both the procedural rules and the bylaws of each state

Accepted Answer

The United States Constitution and the constitution of each state establish the fundamental principles and rules by which the United States and the individual states are governed.The term constitutional law refers to the general limits and powers of the federal and state governments as stated in their written constitutions.

Question 5

The term ________ involves the use of past decisions to guide future decisions.
A)res ipsa loquitur
B)precedent
C)restatement
D)respondeat superior
E)certiorari

Accepted Answer

Precedent is the use of past decisions to guide future decisions.An earlier decision in a similar fact pattern is a precedent that guides later decisions,thereby providing greater stability and predictability to the law.

Question 6

Legislative acts passed by the United States Congress can be found in the ________.
A)U)S.Code
B)various state codes
C)Uniform Register
D)Uniform Contracts Code
E)Restatement (Second)of Statutory Law

Accepted Answer

Legislative actions,called statutes,are an important source of law.The assortment of rules and regulations put forth by legislatures is what we call statutory law.Legislative acts can be found in the United States Code when Congress passes them.

Question 7

When the organization in charge of proposing uniform laws proposes a statute,which of the following is true?
A)All states must adopt the uniform statute within one year.
B)All states must adopt the uniform statute within six months.
C)The uniform statute automatically goes into effect without any action by state legislatures.
D)A state legislature is not required to adopt the uniform statute,but if the state legislature decides to go forward with adoption,all portions of the statute must be adopted.
E)A state legislature can ignore the proposed uniform law,adopt it in full,or adopt it in part.

Accepted Answer

State legislatures can ignore a suggestion or adopt part or all of a proposed model law.The response is entirely in the hands of the state legislatures.

Question 8

Which of the following is an example of an independent federal administrative agency?
A)The Consumer Product Safety Commission
B)The Occupational Safety and Health Administration
C)The Small Business Administration
D)The National Science Foundation
E)The Veteran's Administration

Accepted Answer

The Consumer Product Safety Commission is an example of an independent federal administrative agency.The Occupational Safety and Health Administration,the Small Business Administration,the National Science Foundation,and the Veteran's Administration are all examples of executive administrative agencies of the federal government.

Question 9

When courts rely on precedent,they are obeying ________.
A)legislative stasis
B)res judicata
C)stare decisis
D)in rem jurisdiction
E)federal law

Accepted Answer

When courts rely on precedent,they are obeying stare decisis ("standing by the decision").Following stare decisis creates greater predictability for both businesses and individuals that look to the courts for the rules on which they should rely when they engage in market exchanges.In accordance with stare decisis,rulings that are made in higher courts become binding precedent for lower courts.

Question 10

An alternative name for case law is ________.
A)common law
B)statutory law
C)constitutional law
D)equity
E)ethics

Accepted Answer

Case law is the collection of legal interpretations made by judges.An alternative name for case law is common law.

Question 11

A case that has been used in accordance with stare decisis as a binding precedent is ________,which abolished discriminatory policies for individuals of different racial backgrounds.
A)Curtis v.School Board
B)Laughlin v.Glover
C)Grover v.BreeBee
D)Brown v.Board of Education
E)Story v.Price

Accepted Answer

One example of a case that has been used in accordance with stare decisis as a binding precedent is Brown v.Board of Education,which abolished discriminatory policies for individuals of different racial backgrounds.

Question 12

Which of the following is true regarding administrative agencies?
A)There are state administrative agencies,but no federal administrative agencies.
B)There are federal administrative agencies,but no state administrative agencies.
C)There are state and federal administrative agencies,but no local administrative agencies.
D)Administrative agencies exist only at the local county level.
E)Administrative agencies exist at the federal,state,and local level.

Accepted Answer

The federal government,as well as state and local governments,has dozens of administrative agencies whose task is to perform a particular government function.

Question 13

In which of the following cases did the U.S.Supreme Court rely on precedent to strike down a school's admissions policy that reserved slots for members of minority races?
A)Story v.Price
B)Brown v.Board of Education
C)University of California v.Bakke
D)Grover v.University of Mississippi
E)Adkins v.Price

Accepted Answer

In University of California v.Bakke,the U.S.Supreme Court found that the school's admissions policy was not legal,referencing Brown v.Board of Education and stating that the basic principle behind it and similar cases was that individuals could not be excluded on the basis of race or ethnicity.

Question 14

The ________ is a significant body of law for business activities.It includes sales laws and other regulations affecting commerce,such as bank deposits and collections,title documents,and warranties.
A)Federal Business Code
B)Model Business Code
C)Uniform Contracts Code
D)Uniform Commercial Code
E)International Commercial Code

Accepted Answer

The Uniform Commercial Code laws include sales laws and other regulations affecting commerce,such as bank deposits and collections,title documents,and warranties.

Question 15

Which of the following is true regarding treaties at the federal level?
A)A treaty is generally negotiated by the executive branch and must then be approved by two-thirds of the Senate.
B)A treaty is generally negotiated by the executive branch and must then be approved by two-thirds of the House of Representatives.
C)A treaty is generally negotiated by the executive branch and must then be approved by two-thirds of the Senate and two-thirds of the House of Representatives.
D)A treaty is generally negotiated by the executive branch and no approval by the Senate or House of Representatives is required.
E)A treaty is generally negotiated by the executive branch and must then be approved by two-thirds of the Senate and two-thirds of the state legislatures.

Accepted Answer

A treaty is a binding agreement between two states or international organizations.In the United States,a treaty is generally negotiated by the executive branch.To be binding,a treaty must be approved by two-thirds of the Senate.

Question 16

What are local legislative laws called?
A)Area laws
B)Ordinances
C)Classifications
D)Filings
E)Reports

Accepted Answer

Local city and county ordinances govern matters not covered by federal or state codes.These ordinances address important business considerations such as local taxes,environmental standards,zoning ordinances,and building codes.

Question 17

The National Conference of Commissioners on Uniform State Laws (NCC)was an important source of the ________.
A)Uniform Contracts Code
B)International Criminal Court
C)Uniform Commercial Code
D)Uniform Criminal Code
E)International Commercial Code

Accepted Answer

The proposals of the National Conference of Commissioners on Uniform State Laws (NCC),while not laws themselves,have been adopted on more than 200 occasions by state legislatures.The NCC urges states to enact model laws to provide greater uniformity of law.The NCC is an especially important influence on business law.Paired with the publications of the American Law Institute,the NCC became the source of the Uniform Commercial Code (UCC).

Question 18

Legislative acts passed by state legislatures can be found in ________.
A)the United States Code
B)state codes
C)the Uniform Register
D)the State Reporter
E)the State Reference Manual

Accepted Answer

Legislative acts can be found in the various state codes when they are enacted by state legislatures.The codes are a collection of all the laws in one convenient location.

Question 19

The ________ is the supreme law of the land.
A)United States Constitution
B)Declaration of Independence
C)U)S.Code
D)International Contracts Code
E)Uniform Commercial Code

Accepted Answer

The U.S.Constitution is the supreme law of the land; the foundation for all laws in the United States.

Question 20

The laws put forth by the legislative branch are referred to as:
A)Administrative Codes
B)Statutes
C)Uniform Rules
D)Executive Orders
E)Secondary Laws

Accepted Answer

Legislative actions,called statutes,are an important source of law.The assortment of rules and regulations put forth by legislatures is what we call statutory law.

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

________ are summaries of the common law rules in a particular area of the law that have been enacted by most states.

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

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

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

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

Legislative acts passed by the United States Congress can be found in the ________.

When the organization in charge of proposing uniform laws proposes a statute,which of the following is true?

Which of the following is an example of an independent federal administrative agency?

When courts rely on precedent,they are obeying ________.

An alternative name for case law is ________.

A case that has been used in accordance with stare decisis as a binding precedent is ________,which abolished discriminatory policies for individuals of different racial backgrounds.

Which of the following is true regarding administrative agencies?

In which of the following cases did the U.S.Supreme Court rely on precedent to strike down a school's admissions policy that reserved slots for members of minority races?

The ________ is a significant body of law for business activities.It includes sales laws and other regulations affecting commerce,such as bank deposits and collections,title documents,and warranties.

Which of the following is true regarding treaties at the federal level?

What are local legislative laws called?

The National Conference of Commissioners on Uniform State Laws (NCC) was an important source of the ________.

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

The ________ is the supreme law of the land.

The laws put forth by the legislative branch are referred to as: