Business Law Chapter 1 (Exam Review), Questions with accurate answers, Graded A+

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Business Law Chapter 1 (Exam Review), Questions with accurate answers, Graded A+ Enforceable rules of conduct that govern commercial relationships? - ✔✔Business Law What are the 5 Functional A... reas of Business Affected By Business Law? - ✔✔1. Corporate Management 2.Production&Transportation 3. Marketing 4. Research & Development 5. Accounting & Finance 6. Human Resource Management What are the 6 Purposes of the Law? - ✔✔1. Providing order 2.Serving as an alternative to altercation 3. Facilitating a sense that change is possible 4. Encouraging social justice 5. Guaranteeing personal freedoms6. Serving as a moral guide (the minimum) What are the 6 Sources of Business Law - Federal/US and State System - ✔✔1. Constitutions 2. Statutes 3. Cases 4. Administrative Law 5. Treaties 6. Executive Orders What are the systems for Constitutions - ✔✔(US and State) What are the systems for Statutes - ✔✔(US Code and State Statutes) Legislative actions equals? - ✔✔Statutes What are the systems for Cases - ✔✔(Common Law - Federal and State) What are the systems for Administrative Law - ✔✔(Rules, Regulations, and Decisions - Federal and State) What are the systems for Treaties - ✔✔(US) What are the systems for Executive Orders - ✔✔(Federal and State) What governs at the local level to the extent they are given that power by the state. - ✔✔Local Laws/Ordinances (T/F) Are Federal Law and State LawSeparate Systems - ✔✔True What are the 4 Priorities? - ✔✔1. Constitution 2. Statutes & Treaties 3. Common Law 4. Administrative Law What are the 2 Conflicts of Laws? - ✔✔1. State versus State 2. Uniform Laws & Restatements (T/F) Reputable online resource is FindLaw - ✔✔True [Show More]

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