Business Law: Definitions, Sources, and Types of Law, Exams of Business and Labour Law

Download Business Law: Definitions, Sources, and Types of Law and more Exams Business and Labour Law in PDF only on Docsity! LSTD 2106 Business Law - Chapter 6 definitions Questions With Complete Solutions How is Law defined? - correct answera body of rules of action or conduct prescribed by controlling authority and having legal binding force. What does law create? - correct answerduties obligations and rights that reflect accepted views of a given society What is contract law? - correct answercertain rules regarding agreements between two parties What is employment law? - correct answerCertain rules that regulate certain rights of employees What is Jurisprudence? - correct answerroughly defined as the science and philosophy of law What is the purpose of law? - correct answersystem of order that defines crimes and levies punishment(s) What is Legalese? - correct answersomething that legal terms are often referred to as Where is a lot of American Law derived from? - correct answerEnglish law What are the primary sources of law listed highest to lowest? - correct answerConstitutional Statutory Common Administrative What is the foundation for all other law in the United States and the supreme law of the land? - correct answerConstitutional Law True or False?: Constitutional Law exists both at the State and Federal levels - correct answerTrue What are the two primary functions of a constitution? - correct answerPrescribe the basic structure and powers of a particular government body, & Protect certain rights of individuals and businesses from government encroachment What are the constitutional protections of the 1st amendment? - correct answerFreedom of Religion Freedom of Speech Freedom of Press Freedom of Assembly Petition Government Grievances LSTD 2106 Business Law - Chapter 6 definitions Questions With Complete Solutions What are the restrictions government can place on freedom of speech? - correct answerTime, place, and manner What form(s) of speech is fully protected? - correct answerPolitical Speech What form(s) of speech is protection limited? - correct answerAdult porn commercial speech (ads) What form(s) of speech has no protection? - correct answerInciting threats of fear, harm or violence Terroristic threats Overthrow government Bad Porn (child) What is Statutory Law? - correct answerBody of law created by a legislative body and approved or disapproved by the executive branch of state and federal government What is Common Law? - correct answerMade by the appellate courts and is based on the fundamentals of previous cases with similar facts What is Administrative Law? - correct answerRefers to both the law made by administrative agencies and the laws and regulations that govern the creation, organization, and operation of administrative agencies What are ordinances? - correct answerLocal statutes passed by local legislatures What is the Plain Meaning Rule? - correct answerThe principle that if the words in a statute have clear and widely understood meanings, the court applies the statute; used as the initial guideline in statutory interpretation to determine how a rule should be applied What is a statute? - correct answerwritten laws that are passed by the federal or a state legislature and are either approved or rejected by the executive branch What is the Statutory Scheme? - correct answerThe structure of a statute and the format of its mandates What is Legislative History? - correct answerThe records kept by the legislature which can be used to show the legislature's intent What are the reports that are kept in a Legislative History? - correct answerDebates Committee and conference reports legislative findings of fact used when creating a law LSTD 2106 Business Law - Chapter 6 definitions Questions With Complete Solutions What does the Legislative Branch consist of? - correct answerHouse of Representatives and the Senate Which Article of the Constitution establishes the Legislative Branch? - correct answerArticle I What does the Executive Branch consist of? - correct answerThe President and Vice President Which Article of the Constitution establishes the Executive Branch? - correct answerArticle II What does the Judicial Branch consist of? - correct answerThe Supreme Court and other Federal Courts Which Article of the Constitution Establishes the Judicial Branch? - correct answerArticle III What is the Bill of Rights? - correct answerThe first ten amendments to the constitution What do the Bill of Rights protect? - correct answerPreserves the rights of individuals and in some cases businesses from unlawful acts of government officials, rights against freedom of speech, religion, and assembly, also protects and random searches and seizures What are Enumerated Powers? - correct answerPowers granted to the three branches of government in the constitution What are the Congressional Powers? - correct answerSupremacy Clause Preemption Clause Commerce Clause Taxing/Spending Necessary and Proper Clause Privilege Immunity Full Faith and Credit Clause What is the Commerce Clause? - correct answerThe power to regulate commerce (foreign or interstate) and even commerce with indian tribes What is the Necessary and Proper Clause? - correct answerA general implied power to make all laws necessary for carrying out its enumerated powers What is the Supremacy Clause - correct answerThe constitutional clause that makes clear the federal law is always supreme to any state law that is in direct conflict LSTD 2106 Business Law - Chapter 6 definitions Questions With Complete Solutions What is the Due Process Clause? - correct answerThe constitutional clause protecting individuals from being deprived of life, liberty, or property without due process of law What is Due Process? - correct answerThe principle that the government must respect all of the legal rights that are owed to a person according to the law What are Executive Orders? - correct answerAn order made by the President which carries the full force of law issued to enforce or interpret federal statutes and treaties Which Article of the Constitution grants Executive Powers? - correct answerArticle II Which Article of the Constitution grants Congressional Powers? - correct answerArticle I Which Article of the Constitution grants certain Judicial Powers? - correct answerArticle III What is Jurisdiction? - correct answerThe legal authority that a court must have before it can hear a case What is Judicial Review? - correct answerThe power of the judiciary to declare a legislative or executive act unconstitutional What is the Separation of Powers? - correct answerThe system of checks and balances created by the Constitution whereby the three branches have unique powers that allow them to resolve conflicts among themselves What is Rational Basis? - correct answerThe lowest level of scrutiny applied by courts deciding constitutional issues through judicial review What is Intermediate-level scrutiny? - correct answerThe middle level of scrutiny applied by courts deciding constitutional issues through judicial review What is Strict Scrutiny? - correct answerThe most stringent level of scrutiny applied by courts deciding constitutional issues through judicial review What are State Trial Courts? - correct answerThe first courts at the state level before which the fats of a case are decided What are State Appellate Courts? - correct answerState-level courts of precedent, concerned primarily with reviewing the decision of trial courts How do Appellate Courts asses the lower courts decisions? - correct answerreviewing transcripts and rulings reading briefs LSTD 2106 Business Law - Chapter 6 definitions Questions With Complete Solutions and sometimes allow an oral argument over the issue True or False?: Appellate courts consider new evidence in their review - correct answerFalse, except in extremely rare cases What is a remand? - correct answerThe action of the appellate court to send the trial back to the trial courts based on a substantial enough error Who is the Plaintiff in a trial? - correct answerThe aggrieved party that initiates a lawsuit Who is the Defendant in a trial? - correct answerThe party that caused damages to the Plaintiff that initiated the lawsuit What are U.S. District Courts? - correct answerFederal Courts that serve the same primary trial function as state trial courts but deal with federal matters What are U.S. Courts of Appeal? - correct answerIntermediate appellate courts in the federal system, consist of 13 courts What is the U.S. Supreme Court? - correct answerThe ultimate arbiter of federal law that not only reviews decisions of federal courts but also decisions of state courts that involve some issue of federal law What is Venue? - correct answerA determination of the most appropriate court location for litigating a dispute What is Jurisdiction based on? - correct answerWho the parties are and the subject matter of the dispute What are the two things a court must have to have Jurisdiction? - correct answerSubject Matter Jurisdiction Personal Jurisdiction How can a Federal Court have Subject Matter Jurisdiction in a case? - correct answermust involve a federal question U.S. a party in litigation Diversity of Citizenship What is a Federal Question? - correct answerSome issue arising from the constitution, a federal statute or regulation, or federal common law Which cases do Federal Courts have exclusive jurisdiction on? - correct answerCases in which the United States is a party in the litigation LSTD 2106 Business Law - Chapter 6 definitions Questions With Complete Solutions Who are Depositions allowed to be taken from? - correct answerAnyone that has relevant information pertaining to the case What are Interrogatories? - correct answerWritten questions submitted to the opposing party that must be answered in writing within a time limitation determined by statute True or False?: Only parties to the litigation are required to answer interrogatories - correct answerTrue What are Requests for Production? - correct answerRequests aimed at producing specific items to help one party discover some important fact in the case What is one thing that businesses are protected against in regards to Requests for Production? - correct answerTrade secrets What are Requests for Admissions? - correct answerA set of statements sent from one litigant to an adversary to determine which facts are up for dispute and which are true What is the Pretrial Conference? - correct answerA meeting between the attorneys for the parties and the judge in the case several weeks prior to trial, with the objectives of encouraging settlement and resolving any outstanding motions or procedural issues that arose during the pleadings or discovery stage What are the steps in a Trial? - correct answerJury Selection and Opening Testimony/submit evidence Closing argument/charge jury Deliberations & Verdict Post trial motions and appeals Collect Judgement Who is the finder of law in a Trial? - correct answerThe Judge Who is the finder of fact in a Trial? - correct answerThe Jury What constitutes a Bench Trial? - correct answerWhen there is no Jury and the Judge acts as the finder of fact and law What is the Jury Selection? - correct answerThe process of asking potential jurors questions to reveal any prejudices that may affect their judgement What is Voir Dire? - correct answerMeans "to speak the truth" and it is the questioning process of the jury selection LSTD 2106 Business Law - Chapter 6 definitions Questions With Complete Solutions What is Direct Examination? - correct answerWhen the Plaintiff's attorney asks questions of the witnesses on the plaintiff's list What is Cross-examination? - correct answerWhen the defendants attorney asks questions, limited to issues brought out in direct examination, after the plaintiff's attorney finishes asking his questions What is the Closing Argument? - correct answerAttorney's summations of the case, each attorney tries to convince the jury to side in their favor What is the Charging of the Jury? - correct answerInstructions given from the judge to the jury explaining how to work through the process of coming to a factual decision in the case What is Preponderance of Evidence? - correct answerA standard used to decide a civil case whereby the jury is to favor one party when the evidence is of greater weight and more convincing than the evidence that is offered in opposition to it What are Deliberations? - correct answerProcess where jurors discuss in private about the evidence to reach a verdict What is the Verdict? - correct answerFinal decision of a jury What is a Hung jury? - correct answerA jury that cannot come to a consensus decision on which party should prevail in a case What happens in the case of a Hung Jury? - correct answerThe litigants must start over with a new jury What are Alternative Dispute Resolutions? - correct answerProcesses by which disputes involving individuals or businesses are resolved outside of the courts through third parties What are primary advantages of ADR? - correct answerSave time and money save business relationships get expert opinions and advice non-binding (mostly) What are the types of formal ADR? - correct answerArbitration Mediation Expert Evaluation Mini Trial LSTD 2106 Business Law - Chapter 6 definitions Questions With Complete Solutions What is Arbitration? - correct answerArbitrator acts like a judge and has the authority to impose a decision to a case, gets the authority by both parties agreeing to arbitration by contract (Decision is usually Binding) What is Mediation? - correct answerMediator comes in, learns the facts, and facilitates the two parties to eventually help them negotiate a settlement (Non-binding) What is Expert Opinion? - correct answerExpert evaluator reviews documents that the parties give to them and give a "preview" of how the case might go (Non-binding) What is a Mini Trial? - correct answerA condensed version of the case is presented to the top management from both sides to allow facts and opinions to be brought up which may lead to more meaningful negotiations (Non-binding) What is Med-Arb? - correct answerMethod of ADR where parties begin with mediation and if that fails then parties agree to submit to arbitration What is Business ethics? - correct answerrecognizing right and wrong business behavior and acting responsibly to the business's stakeholders What is a Stakeholder? - correct answerAny individual or entity affected by a business's operations: owners, investors, employees, customers, suppliers, wider community What are Morals? - correct answerGenerally accepted standards of right and wrong in a given society What are Ethics? - correct answerA conscious system used for deciding moral dilemmas What does utilitarian mean? - correct answerGreatest good for the greatest number What is Values Management? - correct answerA managerial system that emphasizes prioritizing moral values for the organization and ensuring that behaviors are aligned with those values What does devoting time to Values management do? - correct answerAllows businesses or organizations to portray a strong public image (seen as value people more than profit) What is moral minimum? - correct answercorporate ethical philosophy that says act as ethically as possible as long as reasonable profits are being made