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BUSINESS LAW EXAM CONSISTING OF MULTIPLE CORRECTLY ANSWERED QUESTIONS

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Which of the following is a school of thought that postulates that promoting market efficiency should be the central concern of legal decision making. - Law and Economics School Which of the following is a school of thought that maintains that law is shaped by logic. Results are reached by applying principles of logic to specific facts of a

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BUSINESS LAW EXAM (Laws Elaborations) WITH CORRECT SOLUTIONS

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Common Law - Developed by judges who issue their opinions when deciding a case. Statutes - Written law enacted by the legislative branch of the federal & state governments that establishes certain courses of conduct that covered parties must adhere to. Stare Decisis - "To stand by the decision" Precedent - -Rule of law established in a court decision. -Lower courts must follow Exclusive Jurisdiction - Hears cases involving federal crimes, antitrust, ...

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BUSINESS LAW EXAM CONSISTING OF MULTIPLE CORRECTLY ANSWERED QUESTIONS

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______ is a rule of law established in a court decision. Lower courts must follow what is established by higher courts. - Precedent ____ are orders issued by a member of the executive branch of the government. - Executive Orders Which of the following is a school of thought that postulates that promoting market efficiency should be the central concern of legal decision making. - Law and Economics School Which of the following is a school of thought that maintains th...

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BUSINESS LAW EXAM WITH ELABORATIONS GRADED A+

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Business Law - consists of the enforceable rules of conduct that govern commercial relationships Why study business law? - - The law affects every functional area of business -The law is an incredible tool for developing critical thinking -You will learn how to identify and head off potential legal problems, which will give you and your employer an absolute competitive edge -You WILL use business law throughout your careers, even if you never go to law school or never ...

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BUSINESS LAW EXAM 1 LATEST 2024 GRADED A+

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Why bother with the law? ANSWER: - - It gives us power - It is important - Fascination (law is everywhere) Why is law complex? ANSWER: - Because competing interest are at play What are the 3 main sources of law? ANSWER: - - U.S. Constitution - Statutes (Federal + State)(State ideas may conflict with federal ideas) - Common-Law (Judge Made laws) A system in which power is divided between the national and state governments ANSWER: - Federalism Congress...

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