Test Bank for Business Law: Text and Cases, 15th Edition by Kenneth W. Clarkson
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Course
Business law
Institution
Business Law
Test Bank for Business Law: Text and Cases 15e 15th Edition by Kenneth W. Clarkson, Roger LeRoy Miller. ISBN-13: 9630
Full Chapters test bank included
UNIT ONE: THE LEGAL ENVIRONMENT OF BUSINESS.
1. Law and Legal Reasoning.
2. Business and the Constitution.
3. Ethics in Business —Appendi...
Indicate whether the statement is true or false.
1. A court should overturn its precedents unless there is a compelling reason not to.
a. True
b. False
2. Controlling precedents are binding authorities.
a. True
b. False
3. Courts will not grant an equitable remedy unless the remedy at law is adequate.
a. True
b. False
4. A constitution is a primary source of law.
a. True
b. False
5. A citation is a regulation enacted by a city or county legislative body.
a. True
b. False
6. Courts often refer to secondary sources of law for guidance in interpreting and applying a primary source of law.
a. True
b. False
7. There is one right answer to every legal question.
a. True
b. False
8. The common law is a body of law developed from judicial decisions.
a. True
b. False
9. Civil law has to do with wrongs committed against society for which society demands redress.
a. True
b. False
10. Congress or a state legislature establishes an administrative agency to perform a specific function.
a. True
b. False
11. A case of first impression is any legal authority or source of law that a court may look to for guidance but need
not follow when making its decision.
a. True
b. False
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Chap 01_15e
12. The study of business law does not involve an ethical dimension.
a. True
b. False
13. Independent regulatory agencies are not subject to the authority of the president.
a. True
b. False
14. In a criminal case, the object is to obtain a remedy.
a. True
b. False
15. With respect to the study of jurisprudence, there is only one school of legal thought.
a. True
b. False
16. Compartmentalizing the law into discrete topics indicates that each business transaction is subject to only one
specific area of the law.
a. True
b. False
17. A secondary source of law establishes the law on a particular issue.
a. True
b. False
18. The doctrines and principles announced in court decisions govern all areas not covered by statutory or
administrative law.
a. True
b. False
19. The basis of a civil law system is a written code of laws.
a. True
b. False
20. A federal statute applies only to those states that agree to apply it within their borders.
a. True
b. False
21. Even if it conflicts with the U.S. Constitution, a state constitution is supreme within that states’ borders.
a. True
b. False
22. International law derives from a variety of sources, including the laws of individual nations.
a. True
b. False
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Chap 01_15e
23. A statute is a secondary source of law.
a. True
b. False
24. Only if a state legislature adopts a uniform law does that law become part of the statutory law of that state.
a. True
b. False
25. A local ordinance commonly has to do with a matter concerning only a local governing unit.
a. True
b. False
26. Because laws may change, the ability to analyze and evaluate the legal ramifications of situations as they arise is
not a lasting skill.
a. True
b. False
27. Administrative law plays a relatively insignificant role in the regulatory environment of business.
a. True
b. False
28. Rescission is the cancellation of a contractual obligation.
a. True
b. False
29. The legal rules that control a business’s actions reflect past and current thinking about how similar businesses
should and should not act.
a. True
b. False
30. Rules issued by administrative agencies affect almost every aspect of a business’s operations.
a. True
b. False
31. In the United States, the law consists of written laws and court decisions.
a. True
b. False
32. The U.S. Constitution is the basis of all law in the United States.
a. True
b. False
33. Often, more than one rule of law will be applicable to a case.
a. True
b. False
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, Name: Class: Date:
Chap 01_15e
34. Because courts of law and equity have merged, the principles of equity are no longer applied.
a. True
b. False
35. Federal agency regulations do not take precedence over conflicting state regulations.
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
36. In a civil case, the object is to
a. resolve a dispute to the satisfaction of all concerned parties.
b. take coercive action against a violating party.
c. punish a wrongdoer to deter others from similar actions.
d. obtain a remedy to compensate the injured party.
37. On a challenge to a provision in a state constitution that conflicts with a provision in the U.S. Constitution
a. neither provision will be enforced.
b. both provisions will be enforced.
c. the state provision will be enforced only within that state’s borders.
d. the state provision will not be enforced.
38. Primary sources of law include
a. legal encyclopedias.
b. official comments to statutes.
c. case law.
d. legal treatises.
39. Power, Inc., is a corporation engaged in the business of producing, refining, and distributing energy resources.
With respect to the firm’s managers, legal concepts can be useful for Power’s
a. accounting and finance manager.
b. human resources manager.
c. marketing manager.
d. all of the choices.
40. Each court has a jurisdiction. Jurisdiction is best defined as
a. a doctrine that follows established precedents.
b. the geographic area in which a court has the power to apply the law.
c. a judicial proceeding to redress a wrong.
d. a situation giving a person a right to initiate a judicial proceeding.
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