Business Law FINAL EXAM BUNDLE

The department may refuse to issue a license or certificate to an applicant who has done which of the following? - Has submitted false or misleading information -has had a license denied -has failed to meet the minimum qualifications -any of these listed Form I-9 must be kept for at least _...

law - A body of enforceable rules governing relationships among individuals and between individuals and their society. Primary sources of law - 1. The U.S. Constitution and the constitutions of the various states. 2. Statutory law—including laws passed by Congress, state legislatures, or...

why do legal systems evolve? - to encourage and promote stability and order define law - a body of enforceable rules which govern relationships among and between individuals and society defin substantive law - create rights, duties, and privileges consistent with public policy at the ...

Natural Law - School of Jurisprudential Thought: Postulates that law is based on what is "correct". It emphasizes a moral theory of law-- that is, law should be based on morality and ethics. Historical - School of Jurisprudential Thought: Believes that law is an aggregate of social tradit...

constitution - The document that sets forth the framework of a government and its relationship to the people it governs. Common law - based upon the current standards or customs of the people. positive law - Law that is dictated from above by a sovereign or other central authority ...

What is law? - consists of enforceable rules governing relationships among individuals and between individuals and their society What feature do all laws have in common? - they establish rights, duties, and privileges that are consistent with the values and beliefs of a society or ruling gr...

administrative agency - a federal, state, or local government agency established to perform a specific function; administrative agencies are authorized by legislative acts to make and enforce rules to administer and enforce the acts. administrative law - the body of law created by administr...

Laws and regulations affect virtually ____ - all business activities Business Decisions are affected by: - Torts, Agency Law, Product Liability, Intellectual Property Rights, Negotiable Instruments, Creditors' Rights, Sales Law, Contracts, Procedural Law, Courts, Environmental Law, Busines...

Definition of law - Enforceable rules governing relationships among individuals and between individuals and their society Function of law - Provide stability predictability and continuity Sources of American Law - Constitution statutory administrative common law Common Law started ...

Rule of Law - general and equal application of laws, even to lawmakers Supreme Law of the Land vs. Highest Court - Supreme Law of the Land- U.S. Constitution Highest Court- U.S. Supreme Court Civil vs. Criminal Law - Civil Law- law governing the rights and duties between private par...

Common Law - Rules are not written down. The Law used by the United States. Civil Law - The most common out of the System of Laws. Has specific rules and regulations and is more strucured. Used by 150 countries. Criminal Law (plaintiff v. defendant) - Where the plaintiff is the govern...

The court may grant a ______ if after reviewing the pleadings, the judge determines that the only reasonable decision is in favor of the moving party - motion for judgement on the pleadings The group that urges states to enact model laws to provide greater uniformity of law is called the _____...

Success Factors in Your Business - organized, consistent approach Factors in Business Failure - poor planning and inadequate management Entrepreneur - a person engaged in strategic activities that involve initiation and development of a new business Calculated Risk - something t...

Bilateral Contract - A contract entered into by way of exchange of promises of the parties; "a promise for a promise". Unilateral Contract - A contract in which the offeror's offer can be accepted only by the performance of an act by the offeree; a "promise for an act". Quasi Contra...