Business Law Test 1

Front 1

What is a body of rules of action or conduct prescribed by the controlling authority, and having binding legal force that which must be obeyed and followed by citizens subject to sanctions or legal consequencies?

Back 1

Law

Front 2

What are the functions of law?

Back 2

Keeping the peace, shaping moral standards, promoting social justice, maintaining the status quo, facilitating orderly change, facilitating planning, providing a basis for compromise and maximizing individual freedom

Front 3

What is a well-designed commerical law allow businesses to plan their activities, allocate their resources and assess their risks?

Back 3

Facilitating Planning

Front 4

What is the rights of freedom of speech, religion, and association granted by the First Amendment to the U.S. Constitution?

Back 4

Maximizing Individual Freedom

Front 5

What quality is the American legal system is one of the most comprehensive, fair, and democratic systems of law ever developed and enforced?

Back 5

Fairness of the Law

Front 6

What quality of law states that the U.S. law evolves and changes along with the norms of society, technology, and the growth and expansion of commerce in the United States and the World?

Back 6

Flexibility of the law

Front 7

What is the philosophy or science of the law?

Back 7

Jurisprudence

Front 8

What school postulates that law is based on what is "correct"; law should be based on morality and ethics?

Back 8

Natural Law School

Front 9

What school believes that law is an aggregate of social traditions and customs?

Back 9

Historical School

Front 10

What school maintains that law is shaped by logic?

Back 10

Analytical School

Front 11

What school asserts that law is a means of achieving and advancing certain sociological goals?

Back 11

Sociological School

Front 12

What school believes that law is a set of rules developed, communicated and enforced by the ruling party?

Back 12

Command School

Front 13

What school maintains that legal rules are unnecessary and that legal disputes should be solved by applying arbitrary rules based on fairness?

Back 13

Critical Legal Studies School

Front 14

What school believes that promoting market efficiency should be the central concern of legal decision making?

Back 14

Law and Economics School

Front 15

What was generally adopted and it became the foundation from which American judges developed our common law?

Back 15

English System of Law

Front 16

What is a uniform system of courts emphasizing form over substance; granted only monetary damages?

Back 16

Law Court

Front 17

What sought when law courts could not grant appropriate remedy; remedies were shaped to fit each situation?

Back 17

Court of Chancery (Equity Court)

Front 18

What law merchant rules based on common trade practices and trade; efficient set of laws for business?

Back 18

Merchant Court

Front 19

Every state except who has adopted the Common law of England as of the date of entry into the United States?

Back 19

Louisiana

Front 20

What system is Romano-Germanic civil law based on the Twelve Tables and the Corpus Juris Civilis; Napoleonic Code and German Civil Code?

Back 20

The Civil Law System

Front 21

What establishes the federal government and enumerates its powers and creatd three branches?

Back 21

The U.S. Constitution

Front 22

What is the president, with the advice and consent of the Senate, may enter into these with foreign governments?

Back 22

Treaties

Front 23

What are issued by the president and state governors; power derived from express delegation from legislative branch?

Back 23

Executive Orders

Front 24

What are created by the legislative and executive branches of government; they may adopt rules and regulations and may enforce and interpret statutes?

Back 24

Administrative Agencies

Front 25

What are courts decide controversies and are usually state the rationale used by the court in reaching that decision?

Back 25

Judicial Decisions

Front 26

What is based on the common law tradition, past court decisions become precedent for deciding future cases; lower courts follow the precedent established by higher courts?

Back 26

The Doctrine of Stare Decisis

Front 27

Who is the party who originally brought the lawsuit?

Back 27

Plaintiff

Front 28

Who is the party against whom the lawsuit has been brought?

Back 28

Defendant

Front 29

Who is the party who has appealed the decision of the trial court or lower court?

Back 29

Petitioner or Appellant

Front 30

Who is the party who must answer the petitioner's appeal?

Back 30

Respondent or Appellee

Front 31

What are the two major court systems in the U.S. called?

Back 31

The Federal Court System and The Court systems of the 50 states and the District of Columbia

Front 32

What court hear matters of a specialized or limited nature?

Back 32

Limited-Jurisdiction Trial Courts

Front 33

What court hears cases of a general nature that are not within the jurisdiction of limited-jurisdiction courts; testimony and evidence at trial are recorded and stored for future reference?

Back 33

General- Jurisdiction Trial Courts

Front 34

What is a court that hears appeals from trial courts; reviews the trial court record to determine if there have been any errors of trial that would require reversal or modifications of the decision?

Back 34

Intermediate Appellate Courts

Front 35

What is the highest state court in a state court system, hears appeals from intermediate state courts and certain trial courts, no new evidence or testimony is heard and decisions of state supreme courts are final, unless a question of law is involved that is appealable to the U.S. Supreme Court?

Back 35

Highest State Court

Front 36

What courts that hear matters of specialized or limited jurisdiction which include tax court, claims court, court of international trade and Bankruptcy court?

Back 36

Special Federal Court

Front 37

What is the federal court system's trial court of general jurisdiction; most federal cases originate from here; impanel juries, receive evidence, hear testimony and decide cases?

Back 37

U.S. District Courts

Front 38

What is the federal court system's intermediate appellate courts and these courts hear appeals from the district courts located in their circuit?

Back 38

U.S. Courts of Appeals

Front 39

What is a petition asking the Supreme Court to hear case?

Back 39

Petition for Certioral

Front 40

What is an official notice that the Supreme Court will review a case?

Back 40

Writ of Certioral

Front 41

What is plaintiff must have a stake in the outcome of case?

Back 41

Standing to Sue

Front 42

What is court has jurisdiction over the property of the lawsuit within the state borders?

Back 42

In rem

Front 43

What is attachment jurisdiction; attachment property located in another state

Back 43

Quasi in rem

Front 44

What is when state courts obtain jurisdiction over persons or businesses located in another state?

Back 44

Long Arm Statute

Front 45

What is the court near location of incident or residence of party?

Back 45

Venue

Front 46

What allows parties to a contract to designate the court/jurisdiction to hear disputes?

Back 46

Forum Selection Clause