Business Law > QUESTIONS & ANSWERS > Business Law EXAM (Chapters 1-10) Concepts With Solutions (For Exam) (All)

Business Law EXAM (Chapters 1-10) Concepts With Solutions (For Exam)

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Civil Law Correct Answer An individual brings action against another seeking a monetary or equitable remedy. Criminal Law Correct Answer The state or federal government brings action against an ind... ividual seeking a remedy of punishment such as a fine or imprisonment. American Sources of Law Correct Answer - U.S. Constitution created by our forefathers - Statutory law created by the legislature - Regulations created by administrative agencies - Case law created by judges - Ordinances created by cities The Constitution Correct Answer It was created by our forefathers and is considered the supreme law of the land. Legislative Branch Correct Answer It creates laws called codes or statutes. Administrative Agencies Correct Answer They create laws that are referred to as regulations. Judicial Branch Correct Answer It creates law through case law. Cities Correct Answer They create laws called ordinances. History of Civil Law Correct Answer It was divided into two courthouses: - Court of Law - Court of Equity Court of Law Correct Answer Monetary remedies were given. Court of Equity Correct Answer Non-monetary remedies were given. Stare Decisis Correct Answer "Let the decision stand." Courts will generally follow previous case law, but they have the ability to change the law if society's morals or ways are changing. Elements of a Brief Correct Answer - Facts - Issue - Rule - Rationale [Show More]

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