Mgmt 209 - Study guides, Class notes & Summaries

The Constitution establishes what? correct answers The branches of the national government. The British government in colonial times... correct answers For the most part left the colonists alone to govern themselves. Massachusetts had what kind of government during colonial times? correct answers Church-dominated. Virginia had what kind of government during colonial times? correct answers A representative government. French and Indian war correct answers The British decided to charge...

Constitution correct answers Supreme law of the land Constitution correct answers The ________________ establishes a federal system Constitution correct answers The ____________ establishes three branches of the national government Executive Branch correct answers branch that includes the President Judicial Branch correct answers branch that includes the courts Legislative Branch correct answers branch that includes Congress Constitution correct answers The __________ divides p...

What are the purposes of tort law? correct answers - Appeasement - Justice - Deterrence - Social Insurance A tort's purpose it to make guilty party pay Appeasement correct answers the purpose of the law is to limit the negative impact of the infliction of injury to the event of the injury itself Justice correct answers Ethical retribution and Ethical compensation Ethical retribution correct answers places emphasis on the fact that the payment of compensation is harmful to the tor...

Litigation correct answers -most business transactions DO NOT result in __________ -some do when a party feels that wrong has been committed or some law violated by other firms, customers, or govt. -if dispute cannot be resolved, result is lawsuit, have the dispute resolved by a court -if you are a business you WILL get sued ~either because other will want your success ~or because you aren't successful Types of Judicial Systems correct answers -Criminal: violating criminal statues -C...

Administrative Warrants correct answers Has to do with warrants for searching a business. Different than a probable cause warrant. Easily obtained, can be waived in highly regulated industries (liquor/guns), food industry or meat packing plants Anti-Federalists correct answers people who opposed the creation of a strong government in the beginnings of our nation. Liked article of confederation which gave state government more authority than fed Articles of Confederation correct answers fir...

Two Main Functions of Law correct answers 1. Dispute Resolution 2. Government Regulation Law correct answers Collection of rules and regulations that govern how we interact with each other and with the government, and the enforcement thereof, gray areas What does Enforcement of Law lead to? correct answers Predictability and Stability, want uniformity 5 Sources of Law correct answers 1. Constitutional Law 2. Congress 3. Executive Creation of Law 4. Courts 5. Administrative Law M...

Which role(s) of law in the business world standardize(s) activities that would otherwise be consideredpurely private interactions of individuals? correct answers Regulation If the offeree dies the offer is correct answers terminated by law Ethel and Brandy enter into a contract where Ethel is to clean Brandy's house once a week for a year for$25 a week. A year goes by and Brandy has paid Ethel the agreed price for the year's work because Ethel has cleaned the house each week as per the ...

Civil Law correct answers Designed to compensate individuals for wrongs suffered, purpose is reimbursement, comes from both common and statutory law Common Law correct answers Judges create much of the law in the US by interpreting the law and applying the law be determining the facts. Leads to predictability and uniformity. Constitutional Law correct answers The most important source of law. This comes from the US constitution. The supreme law of the land. Criminal Law correct answers ...

Dispute resolution, regulation correct answers The law plays two major roles in the business world _____ and _________. Dispute Resolution correct answers The law gives people and business entities a forum to settle their differences; whether it be through the enforcement of some legal issue such as the enforcement of contracts or the recognition of private property rights in eminent domain Regulation correct answers Law directs and standardizes activities that would otherwise be considere...

Two major roles of law in the business world correct answers 1. Dispute Resolution Role 2. Regulation (Regulatory) Role Dispute Resolution role correct answers - Settles differences between two or more parties - Mainly covered in a Business Law class Regulation (Regulatory) role correct answers - Government interferes with private business - Directs and standardizes business activities (Government becomes an active third party) Definition of Law correct answers Law is a collection of...