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Introduction to Law and Legal Systems in Business Law

12 Questions

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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?

Written laws passed by legislative bodies 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?

Precedent 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?

Nation-states Signup and view all the answers

What are cases of first impression?

Cases that involve new issues never decided by the courts before Signup and view all the answers

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

Statutory law Signup and view all the answers

What is the function of an administrative agency?

Implement delegated legislation Signup and view all the answers

What does the Federal Register publish?

Rules, proposed rules, and notices of federal agencies Signup and view all the answers

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

Precedents established by the courts Signup and view all the answers

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

De Minimis non Curat Lex Signup and view all the answers