Introduction to Law and Legal Systems in Business Law

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Questions and Answers

What is the term for a philosophy that holds certain rights are inherent by virtue of human nature and can be universally understood through human reason?

  • Natural Law (correct)
  • Nation-states
  • Legal Positivism
  • Jurisprudence

In the context of legal positivism, what does 'sovereign' refer to?

  • A school of thought in jurisprudence
  • A supreme ruler, especially a monarch (correct)
  • Written laws passed by legislative bodies
  • The theory or philosophy of law

What is the term for the minimum level of ethical behavior expected by society, usually defined by the law?

  • Statutes
  • Precedent
  • Moral minimums (correct)
  • Stare decisis

What are statutes?

<p>Written laws passed by legislative bodies (D)</p> Signup and view all the answers

What is the term for a principle or rule established in a previous legal case that is binding or persuasive for subsequent cases?

<p>Precedent (C)</p> Signup and view all the answers

Which term refers to a form of political organization where people with shared history, traditions, or language live under one government?

<p>Nation-states (D)</p> Signup and view all the answers

What are cases of first impression?

<p>Cases that involve new issues never decided by the courts before (C)</p> Signup and view all the answers

Which type of law provides individuals with rights and creates certain duties?

<p>Statutory law (C)</p> Signup and view all the answers

What is the function of an administrative agency?

<p>Implement delegated legislation (C)</p> Signup and view all the answers

What does the Federal Register publish?

<p>Rules, proposed rules, and notices of federal agencies (B)</p> Signup and view all the answers

What is the main source of law in a common law system?

<p>Precedents established by the courts (C)</p> Signup and view all the answers

What term refers to matters so minor that the law does not concern itself with them?

<p>De Minimis non Curat Lex (A)</p> Signup and view all the answers

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