LEGL 2700 Exam Study Questions and Answers Top Graded
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Course
LEGL 2700
Institution
LEGL 2700
3 Concepts for a functioning market -Correct Answer Law
Rule of law
Property
Law -Correct Answer the rules of the state backed up by enforcement; most significant of social forces
Rule of Law -Correct Answer the general and equal application of laws
Property -Correct Answer the right tha...
LEGL 2700 Exam Study Questions and
Answers Top Graded 2024-2025
3 Concepts for a functioning market -Correct Answer ✔Law
Rule of law
Property
Law -Correct Answer ✔the rules of the state backed up by enforcement; most significant
of social forces
Rule of Law -Correct Answer ✔the general and equal application of laws
Property -Correct Answer ✔the right that allows you to exclude others from your
resources; a "legal fence"
3 types of ownership fences -Correct Answer ✔Public
Private
Common
Public -Correct Answer ✔applies to public resources owned by the government (or
state)
ex: roads, public buildings, public monuments
Private -Correct Answer ✔applies to resources that you own as an individual
Common -Correct Answer ✔applies to resources like land that more than one individual
owns jointly
The property right (to private property) -Correct Answer ✔individuals can possess, use,
and transfer private resources; gives major incentive to develop resources
The exclusionary right of property provides a basis for? -Correct Answer ✔the private
market and modern business
The wheel of property -Correct Answer ✔Constitutional laws: establishes the framework
of the state whose purpose is to protect property
Regulatory laws: concerns public laws that protect, tax, regulate, or redistribute an
owners resources
Criminal law: provides public protection for private resources & punishes those who
harm them
Tort law: protects & compensates owners through private civil law suits when their
resources are wrongfully harmed by the actions of others
LEGL 2700 Exam
,LEGL 2700 Exam
Law of business organizations: identifies how individuals can own & use private
resources in groups; includes corporate governance
Contract law: determines how resources, including labor, are exchanged b/t owners
(bound to states)
2 meanings of jurisprudence -Correct Answer ✔1) philosophy of law
2) difference in interpretation of law between legislation and judges
5 "schools" of jurisprudence -Correct Answer ✔Natural law
Positive law
Historical school
sociological jurisprudence
legal realism
Natural law -Correct Answer ✔law contains universal moral principles that are
observable in nature
Positive law -Correct Answer ✔law that is simply the commands of the state backed up
by force & punishments
Historical School -Correct Answer ✔emphasizes that contemporary law should focus on
legal principles that have withstood the test of time in a nation
Sociological jurisprudence -Correct Answer ✔supports the idea that law can and should
change to meet new developments in society
Legal realism -Correct Answer ✔examines what police, administrators, prosecutors, and
judges are actually doing as they enforce & apply laws
What are the 4 classifications of law? -Correct Answer ✔Common law & Civil law
Public law & Private law
Civil law & Criminal law
Substantive law & Procedural law
Common Law -Correct Answer ✔emphasizes the role of judges in determining the
meaning of laws & how they apply
used by countries colonized by england
Civil law -Correct Answer ✔relies more on legislation than judicial decisions to
determine what the law is
-do not make law or follow precedents
Public law -Correct Answer ✔includes those matters that involve the regulation of
society as opposed to individuals interacting
a government official is responsible for seeking justice to achieve the ends of society
LEGL 2700 Exam
, LEGL 2700 Exam
3 main types of public law -Correct Answer ✔Constitutional Law: involves the
interpretation and application of either federal or state constitutions
Administrative Law: covers the legal principles that apply to government agencies,
bureaus, boards, or commissions
Criminal Law: the area of law dealing with wringings against the state as representative
of the community at large
Private law -Correct Answer ✔covers those legal problems & issues that concern your
private resource relationships with other people
3 main types of private law -Correct Answer ✔Property law: involves the recognition of
exclusive right in both tangible & intangible resources
Contract law: covers the rules on how owners transfer resources by exchanging
Tort law: establishes rules for compensation when an owner's boundaries are wrongfully
crossed by another
Civil law (civil cases) -Correct Answer ✔may include suits for breach of contract or tort
cases. typically involve a request for damages or other appropriate relief that does not
involve punishment of the wrongdoer
Criminal law (criminal cases) -Correct Answer ✔involve a representative of government
attempting to prove the wrong committed against society & seeking to have the
wrongdoer punished by the court system
Substantive law -Correct Answer ✔the part of law that creates, defines, and regulates
rights & duties; defines the legal relationship of people w/ other people or people w/ the
state
Procedural law -Correct Answer ✔deals with the method & means by which substantive
law is made & administered
provide the machinery for enforcing rights & duties
3 sources of law -Correct Answer ✔Federal Law
State Law
Judicial Decisions (Case Law)
Federal Law -Correct Answer ✔1) U.S. constitution
2.) Legislation passed by congress (statutes/acts)
3.) Administrative law or regulation made by agencies of the federal government
State Law -Correct Answer ✔1) State constitution
2) statutes or acts adopted by state legislature
3) Regulatory law of the state administrative agencies
4) ordinances (law in counties/cities)
LEGL 2700 Exam
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