Business Law-Chapter 1

common

English​ _____ law was developed by​ judges, who issued their opinions when deciding cases. The principles in these cases became precedent for later judges deciding similar cases.

providing a basis for compromise

Laws that allow for the settlement of cases prior to trial are an example of which function of the​ law?

facilitating orderly change

Laws that are enacted only after considerable​ study, debate, and public input are an example of which function of the​ law?

keeping the peace

Laws that make certain activities crimes are an example of which function of the​ law?

federal administrative agency

The Securities and Exchange Commission is an example of a​ _____.

race-conscious admissions is lawful under the equal protection clause

The Supreme Court in Fisher v. University of Texas at Austin held that​ _____.

state statute

The Texas Natural Resources Code is an example of​ a(n) _____.

sociological

The​ _____ School of jurisprudence asserts that the law is a means of achieving and advancing certain sociological goals.

natural law

The​ _____ School of jurisprudence asserts that the law should be based on morality and ethics.

command

The​ _____ School of jurisprudence believes that the law is a set of rules​ developed, communicated, and enforced by the ruling party rather than a reflection of the​ society's morality,​ history, logic, or sociology.

critical legal studies

The​ _____ School of jurisprudence proposes that legal rules are unnecessary and are used as an obstacle by the powerful to maintain the status quo.

law and economics

The​ ________ School of jurisprudence believes that promoting market efficiency should be the central goal of legal decision making.

misuses and oversights of our legal system

United​ States' law evolves and changes along with all of the following EXCEPT

to administer the law in a uniform manner

What was the main reason for the creation of law courts by William the Conqueror during the early development of the English common​ law?

to eliminate unfair results and limited remedies of law courts

What was the main reason for the establishment of chancery courts during the development of English common​ law?

historical school

When legal scholars look to past legal decisions​ (precedent) to solve contemporary​ problems, it is an example of which school of​ jurisprudence?

law, equity, and merchant

Which of the following are categories of courts that established English common​ law?

discounting opposing positions and arguments

Which of the following is NOT a component of critical​ thinking?

asking students questions about a case or legal issue

Which of the following is an example of the Socratic method of​ teaching?

establishing uniform principles of individual morality

Which of the following is not a primary function of law in the United​ States?

E. Which executive nominated the judge presiding over the​ case?

Which of the following is not a relevant question according to the IRAC method of critical legal​ thinking? A. What is the rule of the​ case? B. What is the legal issue in the​ case? C. What is the​ court's analysis and​ rationale? D. What was the conclusion or outcome of the​ case? E. Which executive nominated the judge presiding over the​ case?

Law and economics

Which of the following schools of jurisprudential thought might suggest that the federal​ government's policy of subsidized housing provides incentives resulting in too many homes being​ built?

A. Equitable orders and remedies of the Court of Chancery took precedence over the legal decisions and remedies of the law courts.

Which of the following statements is true about the early development of English common​ law? A. Equitable orders and remedies of the Court of Chancery took precedence over the legal decisions and remedies of the law courts. B. Rather than inquire into the merits of the​ case, the chancery court emphasized legal procedure. C. English common law is considered civil law. D. Decisions of the law courts took precedence over those of the Court of Chancery. E. English common law is based on French law.

ordinance

​A(n) _____ is a law enacted by local government​ bodies, such as cities and​ municipalities, counties, school​ districts, and water districts.

statute

​A(n) _____ is a written law enacted by the legislative branch of the federal and state governments that establishes certain courses of conduct to which covered parties must adhere.

critical legal thinking

​_____ improves a​ person's problem-solving skills and helps him or her to make​ clear, logical,​ rational, and​ well-reasoned conclusions and judgments.

Law

​_____ is a body of rules of action or conduct prescribed by controlling authority and having binding legal force.

Stare decisis

​_____ means​ "to stand by the​ decision.

The United States Constitution is

​_____ the supreme law of the United States.

chancery

​________ courts were allowed to give equitable remedies under the English common law.