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1 Introduction to Business Law Questions and answers latest update 2024
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1 Introduction to Business Law Questions and answers latest update 2024
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1 Introduction to Business LawCivil Law - correct answerprovides remedies for individuals or entities that have by wronged
primary purpose is reimbursement or restitution not punishment
Codification - correct answerThe process of organizing statutes by subject matter.
Common Law - correct answerestablished by following earlier judicial decisions
Constitutional Law - correct answerSupreme law; law derived from the US constitution
Criminal Law - correct answerDesigned to further societies interests in preventing crime and punishing
criminals
primary purpose is punishment and deterrence
Dispute Resolution Role - correct answerthe law gives people and entities a forum to settle their
differences
Equitable Remedy - correct answergranted when money damages alone or not adequate to fully
compensate for a party's injuries, can be granted alone or in combination with a legal remedy
specific performance and injunction
Equity - correct answeran area of law separate from the traditional common law, primary purpose is to
avoid unjust results occurring from strictly following the rules of common law.
used when legal (monetary) damages are not sufficient to remedy the wrong (injunction often used)
Executive Order - correct answerlaw independently created by the president
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