B. Private Law
Chapter 01
An Introduction to the Fundamentals of Dynamic Business Law and Business Ethics True / False Questions
1. Business law consists of the suggested rules of conduct that govern commercial relationships. True False 2. Many market transactions occur without legal guidelines. True False 3. Because of the law, we rely on the goodwill and dependability of one another. True False 4. Crimes are prosecuted by the government, not individuals. True False 5. Public law involves disputes between private individuals or groups and their government. True False 6. Another name for case law is common law. True False 7. Case law interpretations are law unless they are revoked later by new statutory law. True False 8. The term "stare decisis" means "reversing the decision." True False 9. A decision of a state supreme court is binding on a lower state court located in the state. True False 10. A decision from a state supreme court in one state is binding on a trial court judge in another state if the other state has no applicable law on the issue involved. True False 11. Constitutions and statutes are complete in the sense of covering the detailed rules that affect government and business relations. True False 12. Presidents claim the power to issue executive orders on the basis of their Article II, Section 1, constitutional power to "take care that the laws be faithfully executed." True False 13. Ethical conversation is primarily about finding the one and only right thing to do. True False 14. The social responsibility of business if formed by expectations employees have of employers. True False
Multiple Choice Questions
15. Penny is investigating what she needs to do to legally open a dog grooming business in her city. Which of the following would govern the business?
A. State statutes
B. City ordinances
C. Model laws
D. State statutes, city
An Introduction to the Fundamentals of Dynamic Business Law and Business Ethics True / False Questions
1. Business law consists of the suggested rules of conduct that govern commercial relationships. True False 2. Many market transactions occur without legal guidelines. True False 3. Because of the law, we rely on the goodwill and dependability of one another. True False 4. Crimes are prosecuted by the government, not individuals. True False 5. Public law involves disputes between private individuals or groups and their government. True False 6. Another name for case law is common law. True False 7. Case law interpretations are law unless they are revoked later by new statutory law. True False 8. The term "stare decisis" means "reversing the decision." True False 9. A decision of a state supreme court is binding on a lower state court located in the state. True False 10. A decision from a state supreme court in one state is binding on a trial court judge in another state if the other state has no applicable law on the issue involved. True False 11. Constitutions and statutes are complete in the sense of covering the detailed rules that affect government and business relations. True False 12. Presidents claim the power to issue executive orders on the basis of their Article II, Section 1, constitutional power to "take care that the laws be faithfully executed." True False 13. Ethical conversation is primarily about finding the one and only right thing to do. True False 14. The social responsibility of business if formed by expectations employees have of employers. True False
Multiple Choice Questions
15. Penny is investigating what she needs to do to legally open a dog grooming business in her city. Which of the following would govern the business?
A. State statutes
B. City ordinances
C. Model laws
D. State statutes, city