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LEGL 2700 Jason Epstein UGA Exam Questions And Revised Answers

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LEGL 2700 Jason Epstein UGA Exam Questions And Revised Answers law - answersrules issued by the state rule of law - answershelps reduce "transaction costs"; there's certainty & predictability; laws are generally and equally applied; no one's above the law, law isn't perfect advantages ...

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  • November 7, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • LEGL 2700 Jason Epstein UGA
  • LEGL 2700 Jason Epstein UGA
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©JUSTTRACY EXAM SOLUTIONS

07/11/2024 1:38




LEGL 2700 Jason Epstein UGA Exam Questions
And Revised Answers


law - answers✔✔rules issued by the state

rule of law - answers✔✔helps reduce "transaction costs"; there's certainty & predictability;
laws are generally and equally applied; no one's above the law, law isn't perfect

advantages of law - answers✔✔law is specifically designed in a way that we can use to our
adv (ex: intellectual property, tax incentives)

compliance in law - answers✔✔use compliance as a selling point (HIPAA compliant texting
app)

strong Rule of law = - answers✔✔good economy

property - answers✔✔NOT the same as resources (things); the right to possess resources and
shield from others; right to property = basis for a private market and modern business

common law vs. civil law - answers✔✔-judge made; case made
stare decisis: let the prior decision stand

VS

heavily focused on legislature; little interpretation of law

Criminal vs. Civil Law - answers✔✔state v defendant

VS

plaintiff vs defendant

intangible property rights - answers✔✔freedom of speech, religion, etc.

downsides to the rule of law - answers✔✔1. potential high financial cost of compliance (big
v little companies)
2. changing nature of laws (technology, politics, morals)
3. non-uniformity in laws between states/federal/local

Hierarchy of Law - answers✔✔us constitution and amendments

, ©JUSTTRACY EXAM SOLUTIONS

07/11/2024 1:38



federal statutes
federal regulations
state constitutions
state statutes
state regulations
local ordinances
case law

corporations - answers✔✔-personhood by way of legal fiction
-owned by shareholders
-larger companies may have board of directors

specific sense of Corporate Governance - answers✔✔-rules that protect the property interest
that owners have in the biz
-try to prevent ppl inside company from abusing their positions for personal advantage to
detriment of the owners
-ethical & legal are NOT same thing

General sense of corporate governance - answers✔✔-expand CoGo to include responsibility
of company to customers/vendors/society/etc.
-this is a huge focus for companies (diversity, environmental sustainability, etc.)

constitution - answers✔✔replaced articles of fed which was...
strong sovereignty of the states; weak fed govt; concern over economic issues (states could
impose protectionist measures hurting other states)

came together for compromises between... - answers✔✔-branches of govt
-state and federal authorities
-state v state
-people & govt
-freedom & justice

separation of powers - answers✔✔horizontal: branches of govt
-legal = make
-exec = enforce
-jud = interpret (judicial review is NOT in the constitution; marbury v madison)

vertical: federal - state/local
-federalism
-10th amendment

Supremacy Clause - answers✔✔constitution is supreme over all laws -> federal law is
supreme over state law -> preemption -> state law is invalid if it conflicts with federal law

preemption - answers✔✔federal preemption

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