Business Law CH 1: The Fundamentals

In 2009, Mississippi Valley Silica Company was ordered to pay a plaintiff $9 million because the court ruled that it sold sand to the plaintiff's employer with the knowledge that using the sand on a regular basis would expose a worker to a form of cancer, and Mississippi Valley did not alert those who bought the sand about the risk. The $9 million recovery is an example of which of the following?

-Frivolous Lawsuit
-Jury Nullification
-Public Law Remedy

-Civil Law Remedy

-Criminal Law Remedy

-Civil Law Remedy
Employee vs Employer = Remedies between people

When courts rely on precedent, they are obeying stare decisis which means:

“standing by the decision”

Which type of law involves the rights and responsibilities involved in relationships between persons, and between persons and their government?

-Criminal

-Procedural

-Civil

-Natural

-Positive

Civil

(Rights/Responsibilities)

The United States Congress enacted a law that penalized businesses if they did not offer health insurance to workers in certain major industries. Where could a business owner look to determine if his or her business was exempt from the new law?

• The United States Code

• The Congressional Register

• The Uniform Register

• The Uniform Congressional Code

• The Restatement of Business Laws

• The United States Code

(Title 15 of the United States Code (Commerce and Trade) is the primary federal statutory source governing business, commerce, and corporate activity in the U.S)

A majority of citizens in a democracy can agree to establish rules for:

• business behavior

• prosecutions

• constitutional amendments

• civil procedure

• criminal procedure

• business behavior

Foundation of Law: These community-backed rules for commerce and conduct become formal, enforceable laws.

If Payne steals an automobile from Becky and he is caught by the authorities and prosecuted, which type of law is applicable?

• Civil law

• Public law

• Governmental law

• Criminal law

• Ethical law

Criminal Law

(Person vs govt/state)

When the United States president negotiates a treaty as part of his or her executive duties, how many U.S. senators does it take to ratify the treaty to make it binding?

• One-half of the Senate

• One-third of the Senate

• Two-thirds of the Senate

• One-fourth of the Senate

• Treaties must be unanimously approved by the Senate.

• Two-thirds of the Senate

True of False:

The legislative branch of government creates case law.

False. Case law and common law are determined by judicial interpretations.

When judges make legal interpretations, this is often referred to as case law or __________

• statutory law

• civil law

• constitutional law

• common law

• federal law

common law

Which of the following is one of the six functional areas of business that sits on a foundation of business law?

• environmental law

• production and transportation

• social networking

• ethics

• state and federal taxation

PRODUCTION & TRANSPORTATION

6 Foundations of Business Law:

-Management

-Production & Transportation

-Marketing

-Research & Development

-Accounting & Finance

-Human Resource Management

Fairness is the central guide for which legal philosophy?

• Originalism.

• Tradition.

• Cost-benefit analysis.

• Natural law.

• Identification with the vulnerable.

Identification with the vulnerable

What are the most basic building blocks in a legal decision?

• The lawyers selected by each side.

• Personalities of the people who brought the case to court.

• The judge's decision.

• Facts.

• The judge and jury.

Facts.

Obedience to precedent is especially powerful among believers in which legal philosophy?

• Natural law.

• Identification with the vulnerable.

• Cost-benefit analysis.

• Legal realism.

• Tradition.

Tradition.

Why are the differences between a precedent and the current case important?

• Courts are trying to reduce differences, not increase them.

• There should be few differences for the legal reasoning in the precedent to apply in the current case.

• An analogy is high or low quality when its differences are uniquely exciting.

• Later, courts will be studying these differences to determine the quality of this court.

• The current case will itself be a precedent after the decision.

There should be few differences for the legal reasoning in the precedent to apply in the current case.

Tradition and legal positivism share ________

• a respect for stability

• a hesitation to sponsor more administrative agencies

• a preference for statutory law over treaties

• a support for cost-benefit analysis

• a dislike for the Plessy v. Ferguson decision

a respect for stability