Mgmt 209 Study guides, Class notes & Summaries

contract law correct answers a system of rules for enforcing promises and breaking promises contract law gives extent to which promises correct answers 1. Are legally enforceable 2. consequences of breaking the promises societal level contracts correct answers provide a legal environment conductive to voluntary exchanges individual level contracts correct answers 1. the facilitation of mutually beneficial exchange 2. allocation of risks 2 functions of contracts correct answers 1. p...

You get angry at your roommate and decide to kill him/her. If you do, what type of law have you violated? A) Statutory B) State C) Criminal D) Public E) All of the above correct answers E) All of the above There are two major functions of the legal system. When you are sued in Court this is an example of what type of major function of the legal system? A) Gov. regulation B) Dispute resolution C) Civil Law D) Criminal Law E) All of the above correct answers B) Dispute resolution ...

What is litigation? CORRECT ANSWER Disputes that arise due to the belief by one party that the other party has committed a wrong or violated some law that cannot be resolved through mutual agreement and compromise; it is a lawsuit that is filed What are the three types of judicial systems in which businesses might become involved? Which is used less than the other two systems? CORRECT ANSWER 1) A criminal court (if accused by the state or fed. gov. of violating a criminal statute). This is pr...

You get angry at your roommate and decide to kill him/her. If you do, what type of law have you violated? CORRECT ANSWER Statutory, State, Criminal, and Public law is violated There are two major functions of the legal system. When you are sued in Court this is an example of what type of major function of the legal system? CORRECT ANSWER Dispute Resolution Which of the following are sources of law? CORRECT ANSWER Administrative, Judge Made, Statutory, and Judicial interpretation When th...

Clayton Celler-Kefauver Act (1950) correct answers If the government choses to block a merger is is usually done under what law and what act under that law? The court's interpretation of Sherman correct answers What caused the weakness of Sherman? Specific and preventative correct answers How would you describe the language of Clayton? Broad correct answers How would you describe the language of Sherman? Prevent and punish anticompetitive practices correct answers What is antitrust...

TAMU MGMT 209 STUDY GUIDE MULTIPLE CHOICE Chapter 1 Introduction to Law and Sources of Law You get angry at your roommate and decide to kill him/her. If you do, what type of law have you violated? A) Statutory B) State C) Criminal D) Public E) All of the above E) All of the above There are two major functions of the legal system. When you are sued in Court this is an example of what type of major function of the legal system?

TAMU MGMT 209 STUDY GUIDE MULTIPLE CHOICE Chapter 1 Introduction to Law and Sources of Law You get angry at your roommate and decide to kill him/her. If you do, what type of law have you violated? A) Statutory B) State C) Criminal D) Public E) All of the above E) All of the above There are two major functions of the legal system. When you are sued in Court this is an example of what type of major function of the legal system?

What is a tort? correct answers Civil wrong other than breach of contract for which the law provides a remedy in the form of damages For torts, Crimes are against correct answers society as a whole Torts are to punish by correct answers hitting the defendant in the pocketbook by making him/her pay money for damages Torts proven by a more likely than not correct answers standard Three major types of torts correct answers intentional torts, negligence, strict liability Intentional T...

What is law? correct answers Law consists of enforceable rules governing relationships among individuals and between individuals and their society. Types of Law correct answers U.S. Constitution and the constitutions of the various states Statutory laws - including laws passed by congress state, legislatures, or local governing bodies Regulations - created by administrative agencies, such as the Food and Drug Administration Case law and common law doctrines Constitutional Law correct an...

Civil Law correct answers law that provides remedies for individuals or entities that have been wronged by the other individual or entity Common Law correct answers how judges make most of American Law through stare decisis Constitutional Law correct answers derived from the United States Constitution Criminal Law correct answers designed to further society's interest in preventing crime and punishing criminals Dispute Resolution correct answers the law gives people and business ent...