Test Bank for Business Law Text and Cases by Clarkson

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Chapter 1 Introduction to Law and Legal Reasoning N.B.: TYPE indicates that a question is new, modified, or unchanged, as follows. N A question new to this edition of the Test Bank. + A question... modified from the previous edition of the Test Bank. = A question included in the previous edition of the Test Bank. TRUE/FALSE QUESTIONS A1. The stability and predictability of the law is essential to business activities. ANSWER: T PAGE: 2 TYPE: = NAT: AACSB Analytic AICPA Critical Thinking A2. Law is a body of enforceable rules governing relationships among individuals and between individuals and their society. ANSWER: T PAGE: 2 TYPE: = NAT: AACSB Analytic AICPA Legal A3. A breach of a contract is a failure to perform it. ANSWER: T PAGE: 3 TYPE: N NAT: AACSB Ethics AICPA Critical Thinking A4. Constitutional law includes only the U.S. Constitution. 2 TEST BANK A—UNIT ONE: THE LEGAL ENVIRONMENT OF BUSINESS © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. ANSWER: F PAGE: 4 TYPE: = NAT: AACSB Analytic AICPA Legal CHAPTER 1: INTRODUCTION TO LAW AND LEGAL REASONING 3 © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. A5. A state constitution is supreme within the state’s borders. ANSWER: T PAGE: 4 TYPE: = NAT: AACSB Analytic AICPA Legal A6. Whether a law is constitutional depends on its source. ANSWER: F PAGE: 4 TYPE: = NAT: AACSB Analytic AICPA Legal A7. Uniform laws apply in all states, including those in which the laws have not been adopted. ANSWER: F PAGE: 4 TYPE: = NAT: AACSB Analytic AICPA Legal A8. A state law that conflicts with the U.S. Constitution will be deemed unconstitutional. ANSWER: T PAGE: 4 TYPE: = NAT: AACSB Analytic AICPA Legal A9. Statutory law does not include county ordinances. ANSWER: F PAGE: 4 TYPE: = NAT: AACSB Reflective AICPA Legal A10. No state has adopted the Uniform Commercial Code in its entirety. ANSWER: F PAGE: 5 TYPE: = NAT: AACSB Reflective AICPA Legal A11. Common law is a term for law that is common throughout the world. ANSWER: F PAGE: 7 TYPE: = NAT: AACSB Analytic AICPA Critical Thinking A12. Damages is a remedy at law. 4 TEST BANK A—UNIT ONE: THE LEGAL ENVIRONMENT OF BUSINESS © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. ANSWER: T PAGE: 7 TYPE: = NAT: AACSB Analytic AICPA Legal A13. Remedies in equity include injunctions and decrees of specific performance. ANSWER: T PAGE: 7 TYPE: = NAT: AACSB Analytic AICPA Legal A14. In most states, the courts no longer grant “equitable” remedies. ANSWER: F PAGE: 8 TYPE: = NAT: AACSB Analytic AICPA Legal A15. A defendant is a person against whom a lawsuit is brought. ANSWER: T PAGE: 8 TYPE: = NAT: AACSB Analytic AICPA Legal A16. Courts do not depart from precedents. ANSWER: F PAGE: 9 TYPE: = NAT: AACSB Reflective AICPA Critical Thinking A17. A judge’s function is to make the law. ANSWER: F PAGE: 13 TYPE: N NAT: AACSB Analytic AICPA Legal A18. Criminal law focuses on duties that exist between persons. ANSWER: F PAGE: 14 TYPE: = NAT: AACSB Analytic AICPA Legal A19. A reference to “28 U.S.C. Section 1332” means that a statute can be found in section 1332 of title 28 of the United States Code. ANSWER: T PAGE: 15 TYPE: = NAT: AACSB Analytic AICPA Research [Show More]

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