Bus Dynamic Business Law And – Flashcards
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The ______ is a significant body of law to business activities including sales, banking, and warranty.
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The Uniform Commercial Code laws include sales laws and other regulations affecting commerce, such as bank deposits and collections, title documents, and warranties.
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Assume the Securities and Exchange Commission prosecutes someone for insider trading. That prosecution is an example of ______ law.
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One example of a criminal law is the prohibition against insider trading on the stock exchange.
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Which of the following are summaries of common law rules in a particular area of the law that have been enacted by most states?
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Restatements are summaries of the common law rules in a particular area of the law that have been enacted by most states.
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The group that urges states to enact model laws to provide greater uniformity of law is called the ______.
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The proposals of the National Conference of Commissioners on Uniform State Laws (NCC), while not laws themselves, have been adopted on more than 200 occasions by state legislatures. The NCC urges states to enact model laws to provide greater uniformity of law.
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The "public disclosure" test for ethical behavior is sometimes referred to as the ______ test.
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The public disclosure test is sometimes called the "television test," for it requires us to imagine that our actions are being broadcast on national television.
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The term ______ involves the use of past decisions to guide future decisions.
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Precedent is the use of past decisions to guide future decisions.
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Which of the following prepares Restatements?
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The American Law Institute prepares Restatements for contracts, agency, property, torts, and many other areas of law that affect business decisions.
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Which of the following references rules of cities and counties that govern matters not covered by federal or state law?
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Local city and county ordinances that govern matters not covered by federal or state codes.
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Which of the following applies to situations in which someone commits an act against the public as a unit?
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Criminal law applies to situations in which someone commits an act against the public as a unit.
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Which of the following involves disputes between private individuals or groups?
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Private law involves disputes between private individuals or groups.
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The rules and regulations put forth by legislatures are referred to as ______ law.
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The assortment of rules and regulations put forth by legislatures is what we call statutory law.
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Which type of law involves the rights and responsibilities involved in relationships between persons, and between persons and their government?
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Civil law involves the rights and responsibilities found in relationships between persons and between persons and their government.
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When the organization in charge of proposing uniform laws proposes a statute, which of the following is true?
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State legislators can ignore a suggestion or adopt part or all of a proposed model law.
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Which of the following is true regarding administrative agencies?
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The federal government, as well as state and local governments, has dozens of administrative agencies, whose task is to perform a particular government function.
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The concept of ______ suggests that individuals should have the freedom to disobey a law enacted by people if their conscience goes against the law and they believe the law is wrong.
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The concept of natural law suggests that individuals should have the freedom to disobey a law enacted by majorities of people if their individual conscience goes against the law and they believe the law is wrong.
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Which of the following most accurately sets forth ways into which law may be divided and classified?
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Law can be divided into national versus international law, federal versus state law, and public versus private law.
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In which of the following cases did the U.S. Supreme Court rely on precedent to strike down a school's admissions policy that reserved slots for members of minority races?
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In University of California v. Bakke, the U.S. Supreme Court found that the school's admissions policy was not legal, referencing Brown v. Board of Education and stating that the basic principle behind it and similar cases was that individuals could not be excluded on the basis of race or ethnicity.
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Which of the following is a term used to refer to laws that are contained in one convenient location?
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The codes are a collection of all the laws in one convenient location.
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The ______ for ethical behavior seeks consideration of what the world would be like if a decision is copied by everyone else.
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Before we act, the universalization test asks us to consider what the world would be like were our decision copied by everyone else.
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Which of the following is not a purpose of the law as set forth in the text?
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Purposes of law include the following: Providing order such that one can depend on a promise or an expectation of obligations; serving as an alternative to fighting; facilitating a sense that change is possible, but only after a rational consideration of options; encouraging social justice; guaranteeing personal freedoms; and serving as a moral guide by indicating minimal expectations of citizens and organizations.
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Legislative acts passed by state legislatures can be found in ______.
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Legislative acts can be found in the various state codes when they are enacted by state legislatures.
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Which of the following involves disputes between private individuals or groups and their government?
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Public law involves disputes between private individuals or groups and their government.
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Laws are enforced by which of the following?
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Law is enforceable in the courts of the community.
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Which of the following involves remedies available to an individual when his or her rights are violated?
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Civil law involves the remedies available when someone's rights are violated.
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The rules and regulations put forth by legislatures are referred to as ______ law.
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The assortment of rules and regulations put forth by legislatures is what we call statutory law.
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If a computer store dumps waste behind its building in violation of local, state, or federal environmental regulations, the resulting dispute focuses on ______ law.
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Public law involves disputes between private individuals or groups and their government.
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When courts rely on precedent, they are obeying ______.
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When courts rely on precedent, they are obeying stare decisis ("standing by their decision").
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The United States Constitution and the ________ establish the fundamental principles and rules by which the United States and the several states are governed.
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The United States Constitution and the constitution of each state establish the fundamental principles and rules by which the United States and the individual states are governed.
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Assume an issue is decided by a state supreme court. On what cases is that decision binding?
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A state supreme court's decision affects only the decision being appealed and any future cases brought in the state on that particular subject.
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Which of the following is true regarding treaties at the federal level?
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To be binding, a treaty must be approved by two-thirds of the Senate.
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Legislative acts passed by the U.S. Congress can be found in ______.
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Legislative acts can be found in the United States Code when they are passed by Congress.
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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?
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Legislative actions, called statutes, are an important source of laws: and business managers must also be familiar with local city and county ordinances governing matters not covered by federal or state codes.
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In which school of jurisprudence is the concept of stare decisis rooted?
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Stare decisis is rooted in the perspective of the historical school.
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The ______ is the supreme law of the land.
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The U.S. Constitution is the supreme law of the land, the foundation for all laws in the United States.
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The ______ is a significant body of law to business activities including sales, banking, and warranty.
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The Uniform Commercial Code laws include sales laws and other regulations affecting commerce, such as bank deposits and collections, title documents, and warranties.
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Case law can be revoked by ______.
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Case law is law unless revoked later by new statutory law.
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If a computer store dumps waste behind its building in violation of local, state, or federal environmental regulations, the resulting dispute focuses on ______ law.
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Public law involves disputes between private individuals or groups and their government.
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When courts rely on precedent, they are obeying ______.
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When courts rely on precedent, they are obeying stare decisis ("standing by their decision").
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Crimes committed under criminal laws are prosecuted by which of the following?
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Crimes are prosecuted not by individuals but by the state or federal government.
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The concept of ______ suggests that individuals should have the freedom to disobey a law enacted by people if their conscience goes against the law and they believe the law is wrong.
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The concept of natural law suggests that individuals should have the freedom to disobey a law enacted by majorities of people if their individual conscience goes against the law and they believe the law is wrong.
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Which of the following cases is referenced in the text as a use of stare decisis as binding precedent, in that it abolished discriminatory policies for individuals of different racial backgrounds?
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One example of a case that has been used in accordance with stare decisis as a binding precedent is Brown v. Board of Education, which abolished discriminatory policies for individuals of different racial backgrounds.
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Positive abstractions that capture our sense of what is good or desirable are ______.
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Values are positive abstractions that capture our sense of what is good or desirable and are ideas that underlie conversations about business ethics.
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Which of the following are stakeholders of a business?
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The stakeholders of a firm are the many groups of people affected by the firm's decisions.
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The idea that we should interact with other people in a manner consistent with the manner in which we would like for them to interact with us is called ______.
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The Golden Rule is the idea that we should interact with other people in a manner consistent with the way we would like them to interact with us.
