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Business Law Midterm (Ivy Tech) Questions With Complete Solutions
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Business Law Midterm (Ivy Tech) Questions With Complete Solutions
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Business Law Midterm (Ivy Tech) Questions With CompleteSolutions
Administrative Law Correct Answers The body of law created
by administrative agencies (in the form of rules, regulations,
orders, and decisions) in order to carry out their duties and
responsibilities.
Alternative Dispute Resolution (ADR) Correct Answers The
resolution of disputes in ways other than those involved in the
traditional judicial process. Negotiation, mediation, and
arbitration are forms of ADR.
Arbitration Correct Answers settling a dispute by agreeing to
accept the decision of an impartial outsider
Bankruptcy Court/ Federal Court Correct Answers Handles
only bankruptcy proceedings
Bill of Rights Correct Answers The first ten amendments to the
Constitution, 1791
Case Law Correct Answers the rules of law announced in court
decisions
Categorical Imperative Correct Answers A concept developed
by the philosopher Immanuel Kant as an ethical guideline for
behavior. In deciding whether an action is right or wrong, or
desirable or undesirable, a person should evaluate the action in
terms of what would happen if everybody else in the same
situation, or category, acted the same way.
, Common Law Correct Answers A body of general rules that
applied throughout the entire English realm
Common types of diversity jurisdiction require Correct
Answers 1. Plaintiff and defendant must be residents of
different states
2. dollar amount in controversy must exceed $75,000
concurrent jurisdiction Correct Answers authority for both state
and federal courts to hear and decide cases
confederal form of government Correct Answers Following the
revolutionary war, US created this in which the states had
authority to govern themselves and the national government
could exercise only limited powers
Constitutional Law Correct Answers The fundamental
principles by which the government exercises its authority
Corporate Social Responsibility Correct Answers a business's
concern for society's welfare
1. environmental efforts
2. Ethical labor practices
3. Charitable donations
4. Volunteering
Disparagement of Property Correct Answers An economically
injurious false statement made about another's product or
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