Business Law 207

Bus Law consists of the suggested rules of conduct that govern commercial relationships.
True
Many market transactions occur without legal guidelines
False
Because of the law we rely on the goodwill and dependability of one another
False
Crimes are prosecuted by the government, not individuals.
True
Public law involves disputes between private individuals or groups and their government
True
Another name for case law is common law
True
Case law interpretations are law unless they are revoked later by statutory law.
True
The term “stare decisis” means “reversing the decision.”
False
A decision of a state supreme court is binding on a lower state court located in the state
True
A decision from a state supreme court in one state is binding ona trial court judge in another state if the other state has no applicable law on the issue involved
False
Constitutions and statutes are complete in the sense of covering the detailed rules that affect gov and bus relations
False
Presidents claim the power to issue exec orders on the basis of their Article II, Section 1 constitutional power to “take care that the laws be faithfully executed.”
True
Ethical conversation is primarily about finding the one and only right thing to do
False
The social responsibility of business is formed by expectations employees have of employers.
False
Penny is investigating what she needs to do to legally open a dog grooming business in her city. Which of the following would govern the business?
State statutes, city ordinances, and model laws
Which of the following is not a purpose of the law as set forth in the text?
Encouraging taxation
Which of the following most accurately sets forth ways into which law may be divided and classified?
National v international, federal v state, public v private
Which of the following involves disputes between private individuals or groups?
Private Law
Which of the following involves disputes between private individuals or groups and their government?
Public Law
Which of the following involves remedies available to an individual when his or her rights are violated?
Civil law
Which of the following applies to situations in which someone commits and act against the public as a unit?
Criminal law
Laws are enforced by which of the following?
Courts
These rules are what we refer to as the
law
Assume a businessperson who owns a comp store is delinquent in paying rent to the landlord. resulting dispute entails
private law