Midterm

Question 1

Which country is the United States legal system derived from?

Answer 1

United Kingdom

Question 2

What are the functions of law in the United States? (There’s 3)

Answer 2

1. Establish standards
2. Promote, provide, and maintain order
3. Promote consistency

Question 3

As a judge, Baxter applies common law rules. These rules develop from:
A. Decisions of the court in legal disputes
B. Regulations issued by administrative agencies
C. Uniform laws drafter by legal scholars
D. Statues enacted by Congress & the state legislatures

Answer 3

A

Question 4

The legislature of the state of Texas enacts a new statue that sets standards for the liability of business selling defective products. This statue applies in:
A. Texas only
B. O ly Texas & its bordering states
C. All states
D. All states but only to matters not covered by other state’s laws

Answer 4

A

Question 5

Alex has been sued by Will for failure to pay rent for their apartment, which sourse of law will govern this lawsuit?
A. Administrative law
B. The constitution
C. Civil law
D. Criminal law

Answer 5

Civil law

Question 6

4 sources of law in the U.S legal system are?

Answer 6

Constitutional law, judicial law, legislative law, administrative law

Question 7

Where can you find a codification of federal laws?
A. The library
B. Federal Court
C. United States code
D. U.S. Library of Congress

Answer 7

United States code

Question 8

What is the Supreme law of the land?

Answer 8

The Constitution

Question 9

Regulations are…

Answer 9

Rules adopted by administrative agencies.

Question 10

Some of the rights in the Constitution’s Bill of Rights extends to corporations. True of false?

Answer 10

True

Question 11

The ___ gives the federal government the authority to regulate interstate and international commerce.

Answer 11

The commerce clause

Question 12

The doctrine aimed at dividing the governing powers between the federal governments and the states is:

Answer 12

Federalism

Question 13

Separation of powers consist of?

Answer 13

Legislative, executive, and judiciary.

Question 14

Which clause of the U.S. Constitution provides that, within its own sphere, federal law is Supreme and that state law must, in case of conflict, yield?

Answer 14

Supremacy Clause

Question 15

What are 2 types of Due process?

Answer 15

Substantive and procedural

Question 16

The ___ of the constitution offers the most extensive protection for businesses.

Answer 16

Due process clause

Question 17

The 14th Amendment is a part of the Bill of Rights. True or false.

Answer 17

False

Question 18

All of the sections of the Bill of Rights apply to corporations and commercial activities. True or false?

Answer 18

True

Question 19

The elements of a contract include all but the following element:
A. Offer and acceptance
B. Consideration
C. Capacity
D. Promissory Estoppel

Answer 19

D

Question 20

What are the ways an agreement can be invalidated?

Answer 20

Fraud, misresentation, undue influence.

Question 21

Consideration may include any of the following except:
A. A promise
B. A gift
C. Property
D. Money

Answer 21

A gift

Question 22

What happens when a person lacks the legal capacity to enter into a contract?

Answer 22

It’s voidable

Question 23

A minor can avoid a contract to purchase a car if:
A. The car has been destroyed
B. The car has been damaged
C. He or she grows tired of it
D. All the above

Answer 23

All the above

Question 24

When can a mentally incompetent person void a contract?

Answer 24

Anytime (with their legal guardian)

Question 25

Typical remedies available for a breach of contract include: A. Money damages B. Rescission C. Specific performance D. All the above

Answer 25

D

Question 26

Courts of equity will not grant specific performance of contacts for ...

Answer 26

For a personla service contract.

Question 27

All of the following features of sales contracts except: A. Consensual B. Bilateral C. Cumulative D. Principal

Answer 27

D

Question 28

What source of law governs sales contracts?

Answer 28

The Uniform Commercial Code (UCC)

Question 29

Examples of a defect in a branch of the implied warranty of merchantability include: (there's 4)

Answer 29

Design defect, manufacturing defect, inadequate warnings, and inadequate instructions

Question 30

What are the possible remedies to buyers under the UCC? (3)

Answer 30

Cancel the contract, sue, and obtain cover.

Question 31

Administrative agencies are created by?

Answer 31

Congress

Question 32

The FDA stands for?

Answer 32

The food and drug administration

Question 33

Who appoints leaders to run administrative agencies?

Answer 33

The president

Question 34

The process of assigning authority to administrative agencies is called?

Answer 34

A delegation

Question 35

What's the role of an Administrative Law Judge (ALJ)?

Answer 35

Judicial officer in administrative proceedings

Question 36

All of the following are forms of restraint of trade that company might use to reduce competition execpt: A. Monopolies B. Oversupply C. Price-fixing D. Mergers

Answer 36

B

Question 37

What is a business trust?

Answer 37

Group of businesses with a common goal. The owners maintain profits as beneficiaries but ownership is with trustees.

Question 38

Difference between naked restraint and ancillary restraint?

Answer 38

Broad uncertain duration Targeted short duration

Question 39

What was the first antitrust law enacted?

Answer 39

The Sherman act

Question 40

Explain lassiez-faire economic policy?

Answer 40

Hands off

Question 41

Difference between minor and material breach?

Answer 41

When the party fails to perform small obligations but still performed their obligations. The contract is over.