BUL 4421-Midterm FAU Gendler

BUL 4421-Midterm FAU Gendler / Actual Exam Questions & Correct, Certified Solutions/ .Qs: Chapter 1: Introduction to Business Law -

Answer:

Chapter 1: Introduction to Business Law

Qs: Relevant areas of business law applicable to human recourse

management involve (4): -

Answer:

• Agency law
• Contracts
• Employment and labor laws
• Employment discrimination

Qs: This type of law regulates disputes between private individuals or

groups.

(Ex: dispute between landlord and tenant governed by private law). -

Answer:

Private law

Qs: This type of law regulates disputes between private individuals and

government.

(Ex: dumping in violation of state or federal environmental laws). -

Answer:

Public law

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Qs: This type of law delineates the rights and responsibilities implied in

relationship between persons, or between person and their government. -

Answer:

Civil law

Qs: This type of law regulates incidents in which someone commits an act

against the public as a whole, such as by conducting insider trading on the stock exchange.

• Government is plaintiff -

Answer:

Criminal law Qs: Put these laws in order of Hierarchy of Laws: States Statutes, U.S.Constitutions, Common Law, state constitution, and Federal Statutes -

Answer:

• U.S. Constitutions
• Federal Statutes
• State Constitution
• State Statutes
• Common Law

Qs: Collection of legal interpretations made by judges, and are law unless

revoked by new statutory law. -

Answer:

Common Law (aka Case Law)

Qs: Past decisions in similar cases that guide later decisions thereby

providing greater stability and predictability to the law. -

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Answer:

Precedent

Qs: A principle stating that rulings made in higher courts are binding

precedent for lower courts. Latin for "standing by the decision." -

Answer:

Stare Decisis

Qs: 1. Summaries of common law rules in a particular area of the law that

have been enacted in most states.

• They do not carry the weight of the law but guide interpretations of certain

principles. -

Answer:

Restatements of the Law

Qs: Certain habits of mind and specific beliefs about human nature. Beliefs

are deeply rooted within a person's emotions and habits, and thus they are sure to guide one's opinions and decisions. Such beliefs may be commonly held and create much larger schools of thought thus they are more common guides to legal interpretation. -

Answer:

Schools of Jurisprudence Qs: Name the (5) Schools of Jurisprudence: *CH*i*LL*i*N* -

Answer:

• Cost benefit analysis
• Historical School
• Legal Positivism
• Legal Realism
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• Natural Law

Qs: The school of jurisprudence that recognizes the existence of higher law,

or law that is morally superior to human laws. -

Answer:

Natural Law

Qs: The school of jurisprudence which holds that because society requires

authority, a legal and authoritative hierarchy should exist. When a law is made, therefore, *obedience is expected because authority created it.*

• Must abide by duly authorized law
• Law is distinct from morality
• Moral questions about the law should not interfere with our inclination to

obey it.

• A judge may write that she is deciding to enforce the law in question but

that her decision does not necessarily mean she sees the law as the morally correct rule. -

Answer:

Legal Positivism Qs: A school of jurisdiction that:

• Follows tradition or custom to shape the law
• Is closely linked with the doctrine of stare decisis
• We assume past practice was the product of careful thought. -

Answer:

Historical School (aka tradition or custom)

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