Question 1

When courts overturn precedent and create new precedent, they are obeying the principle of stare decisis.

Accepted Answer

A) True 
 B)False

Question 2

Lori and Tim are negotiating a new business deal that requires an interpretation of a law made by their state twenty years ago. Tim knows that there are cases regarding this law that have been tried in a court within their city's boundaries. If Tim relies on these cases as the law, he is referring to ________.

Accepted Answer

A)   Statutory law
B)   Administrative law
C)   Executive orders
D)   Precedent
E)   Constitutional lawF) All of the above
G) A) and B)

Question 3

Why should business managers be familiar with laws that regulate business practices between nations?

Accepted Answer

A)   Advances in trade and technology have made trade with other countries easy, but companies must comply with local laws.
B)   NAFTA requires registered businesses to understand and comply with international law.
C)   GATT mandates that U.S. organizations know the laws in the United States and in 150 other member countries in order to incorporate.
D)   Businesses are required to know the laws and to become WTO members to have Internet websites.
E)   Businesses may meet foreigners and should be familiar with their customs to foster positive business relationships.F) A) and D)
G) C) and E)

Question 4

Judge Joanie Justice, who is newly appointed to the bench, is presented with a question of law involving a cat named Tiger who scratched a neighbor's antique car. The neighbor, Carl, demands justice in the form of full payment from Tiger's owner, Stacy, and also requests that Tiger be shipped to the local animal shelter. Stacy says that she should not have to pay anything because Tiger had never scratched before, that Tiger should be allowed to stay in the neighborhood, and that Carl (who is a grump and never should have brought the lawsuit) should reimburse her for her legal fees. Judge Justice is perplexed. Judge Justice wants to make a good decision, especially since she is new to the bench. Explain how the judge should go about reaching a decision. Discuss in your answer the impact of cases from other jurisdictions, assuming there is no relevant law in Judge Justice's jurisdiction. Also, assuming there is relevant law in Judge Justice's jurisdiction, discuss the applicable legal standard when case law conflicts with a later passed state statute.

Accepted Answer

Students should reference the need for J...

Question 5

The decision of a state supreme court is binding on a lower court that is located in the same state.

Accepted Answer

A) True 
 B)False

Question 6

[International Expansion] Ryan wants to expand his coffee business into Winland, a small, remote country. He moves to Winland temporarily in order to oversee operations. His friend Terrell asks him if he plans to hire legal counsel for the expansion. Ryan replies, "Of course not. The U.S. has the strictest laws regarding contracts, employment, and business practices in the world. So long as I'm legal in the U.S., I'm legal anywhere. Besides, I studied up on Winland law ten years ago, and I know it all." Ryan proceeds and lands in jail in Winland for violating recently passed laws which make it a crime to mistreat employees and which criminalized the failure to provide certain benefits. Authorities in Winland claim that he sexually harassed an employee, failed to pay sufficient wages, and failed to give employees Winland's mandated 12 weeks of paid vacation per year.
-What is true regarding Ryan's defense that he thought he knew the law of Winland because he had studied it some years before and that the laws under which he was arrested were new? (Assume the law of Winland is the same as the U.S. on this issue.)

Accepted Answer

A)   Rules change and Ryan had a duty to stay current. It is not a defense that he studied the law at one time and that the laws at issue were new.
B)   Ryan is entitled to rely as a defense on the fact that he had studied the law at one time. Officials in Winland were charged with publicizing any changes.
C)   If Ryan can prove that the laws at issue were passed within the last twelve months before he was arrested, he will get out of jail because there is a twelve month grace period for new laws.
D)   If Ryan can prove that the laws at issue were passed within the last six months before he was arrested, he will get out of jail because there is a six month grace period for new laws.
E)   Ryan cannot be prosecuted so long as he was not aware he was violating the law. He did not have the requisite intent to perform a criminal act, regardless of whether the laws were new.F) A) and B)
G) None of the above

Question 7

Which of the following is based on the idea that, when ruling on a case, judges consider more than just the law; they also weigh factors such as social and economic conditions?

Accepted Answer

A)   Cost-benefit analysis
B)   Legal realism
C)   Historical school
D)   Legal positivism
E)   Executive positivismF) C) and D)
G) A) and C)

Question 8

In which school of jurisprudence is the concept of stare decisis rooted?

Accepted Answer

A)   The historical school
B)   Legal realism
C)   The cost-benefit analysis school
D)   Positivism
E)   Cultural reenactmentF) None of the above
G) A) and E)

Question 9

[International Expansion] Ryan wants to expand his coffee business into Winland, a small, remote country. He moves to Winland temporarily in order to oversee operations. His friend Terrell asks him if he plans to hire legal counsel for the expansion. Ryan replies, "Of course not. The U.S. has the strictest laws regarding contracts, employment, and business practices in the world. So long as I'm legal in the U.S., I'm legal anywhere. Besides, I studied up on Winland law ten years ago, and I know it all." Ryan proceeds and lands in jail in Winland for violating recently passed laws which make it a crime to mistreat employees and which criminalized the failure to provide certain benefits. Authorities in Winland claim that he sexually harassed an employee, failed to pay sufficient wages, and failed to give employees Winland's mandated 12 weeks of paid vacation per year.
-________ is the type of law involved in comparing laws between the U.S. and Winland.

Accepted Answer

A)   Comparative law
B)   Contributory law
C)   Comprehensive law
D)   Complete law
E)   Delineated lawF) A) and B)
G) B) and D)

Question 10

When a state supreme court issues a binding ruling on a matter of law, who must follow the precedent set by the state supreme court?

Accepted Answer

A)   The United States Supreme Court
B)   The U.S. Congress
C)   State legislatures
D)   Lower courts within the same state
E)   All lower courts in the United StatesF) None of the above
G) All of the above

Exam 1: An Introduction to Dynamic Business Law

In which school of jurisprudence is the concept of stare decisis rooted?

Correct Answer
verified

Which of the following is based on the idea that, when ruling on a case, judges consider more than just the law; they also weigh factors such as social and economic conditions?

Correct Answer
verified

When courts overturn precedent and create new precedent, they are obeying the principle of stare decisis.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Why should business managers be familiar with laws that regulate business practices between nations?

Correct Answer
verified

Correct Answer
verified

When a state supreme court issues a binding ruling on a matter of law, who must follow the precedent set by the state supreme court?

Correct Answer
verified

Correct Answer
verified
Students should reference the need for J...
View Answer

The decision of a state supreme court is binding on a lower court that is located in the same state.

Correct Answer
verified

Exam 1: An Introduction to Dynamic Business Law

In which school of jurisprudence is the concept of stare decisis rooted?

Correct AnswerverifiedShow Answer

Which of the following is based on the idea that, when ruling on a case, judges consider more than just the law; they also weigh factors such as social and economic conditions?

Correct AnswerverifiedShow Answer

When courts overturn precedent and create new precedent, they are obeying the principle of stare decisis.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Why should business managers be familiar with laws that regulate business practices between nations?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When a state supreme court issues a binding ruling on a matter of law, who must follow the precedent set by the state supreme court?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedStudents should reference the need for J...View AnswerShow Answer

The decision of a state supreme court is binding on a lower court that is located in the same state.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Students should reference the need for J...
View Answer

Correct Answer
verified