Business Law Principles and Practices

Business

Quiz 1 :

Foundations of Law and the Role of Ethics in Business

Quiz 1 :

Foundations of Law and the Role of Ethics in Business

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The most important influences on the development of law today are criminal law and civil law.
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True False
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False

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The Romans developed the concept of a written code, which became known as the Justinian Code.
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True

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"Law" refers only to the statutes passed by federal and state legislatures.
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True False
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False

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Law actually refers to the duties imposed upon people requiring them to act in a certain manner.
True False
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Laws passed by local governments are called acts.
True False
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Any law, whether enacted by Congress or by a state legislature, may be declared invalid if it conflicts with the Constitution of the United States.
True False
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Because equity is so important, special equity courts have been established within the state court system.
True False
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English common law is the basis for much of the law in Europe today.
True False
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The Social Security system is an example of using law to
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The Environmental Protection Agency is an example of a federal administrative agency.
True False
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The constitution of a state is the primary legal authority for that state.
True False
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A government may take private property without compensation if it is needed for public use.
True False
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Criminal law includes rules that protect society.
True False
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A major reason rules or laws were first established was to
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Administrative regulations have the same force and effect as statutes and court decisions.
True False
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The practice of following precedents in deciding later cases is known as
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Business Ethics is the inquiry into the moral judgment people make in deciding what is right or good in their daily lives.
True False
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Law in the United States is derived primarily from
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The body of legal decisions made by English court judges over a period of many years was called
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Violations of business ethics occur only in large corporations.
True False
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