LEGL 2700 TEST 1 EPSTEIN UGA EXAM NEWEST ACTUAL

LEGL 2700 TEST 1 EPSTEIN UGA EXAM NEWEST ACTUAL

WITH ACCURATE ANSWERS

VERIFIED/GRADED A+

Plantiff - ----Answers---party who files civil action

Defendant - ----Answers---party sued by plantiff in civil court, person against criminal charges

Third-Party Defedant - ----Answers---parties brought in by defendant needed to settle the case

Property Rights - ----Answers---right to property is the basis for a private market & basis for modern business

Rule of Law - ----Answers---helps reduce transaction costs

Costs of Having Laws - ----Answers---1. Potential for High Financial Cost of Compliance -some large companies try to exploit this -costs generally flow to consumers

• Changing Nature of Laws

-technology forces laws to change 1 / 2

-morals of will (interracial marriage) -politics

• Role of Legal Counsel

-legal considerations affect product development & business operations

• Need for More Common Sense

-liability torts

Rule of Law - ----Answers---provides certainty & predictability which lowers transaction costs

Bill of Rights - ----Answers---First 10 Amendments, 12 were voted on and 10 passed

Holdouts - ----Answers---someone that won't sell their land to the government

Zauderer Case - ----Answers---disclaimers, nutrition facts were made necessary; the idea of compelled speech from businesses

Jury Trials - ----Answers---traditionally 12 jurors, but some states are reducing number

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