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BLAW Study Guide (Chapters 1-5)

by: Cailin Notetaker

BLAW Study Guide (Chapters 1-5) BLAW 203 - 01

Marketplace > Radford University > Business Law > BLAW 203 - 01 > BLAW Study Guide Chapters 1 5
Cailin Notetaker
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About this Document

This study guide hits all the very important notes that the professor talked about as well as some things that were heavily discussed within the textbook. Hope this helps!
Legal Environment of Business
Daniel V. Davidson
Study Guide
business, Law, test
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This 4 page Study Guide was uploaded by Cailin Notetaker on Monday February 8, 2016. The Study Guide belongs to BLAW 203 - 01 at Radford University taught by Daniel V. Davidson in Fall 2015. Since its upload, it has received 61 views. For similar materials see Legal Environment of Business in Business Law at Radford University.

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Date Created: 02/08/16
BLAW Study Guide #1 (Chapters 1-5) 1. Fill in the blank for the I.D.E.S. model I - _________ the issue D - ________ who will win E - _________ your reasoning S - _________ it 2. Law can be defined as… a. Guidelines set by the government b. Rules that must be obeyed c. Something you will go to jail for if you don’t follow d. All of the above 3. The body of law dealing with public wrongs called crimes. a. Tort Law b. Procedural Law c. Substantive Law d. Criminal Law 4. This type of law specifies the methods used to enforce legal rights or gather compensation if someone were to go against these rights. a. Substantive Law b. Criminal Law c. Procedural Law d. Tort Law 5. What is the technical term for the person who files a suit against someone else? a. Defendant b. Judge c. Plaintif d. Process Server 6. True or False: The social contract theory states that businesses exist because society allows them to exist a. True b. False 7. Describe in your own words and provide an example of precedent 8. True or False: In law, an organization is NOT considered a “person”. a. True b. False 9. What are morals? a. An individuals determination of right or wrong b. The way a company deals with situations c. Society’s values of right and wrong d. None of these 10. “If you follow the rules of society then you are probably acting ethically and within the law” explains what theory? a. Consequentialist Theory b. The Golden Rule Theory c. Non-Consequentialist Theory d. Ethical Behavior Theory 11. Explain jurisdiction and include its three components in your explanation (Subject Matter Jurisdiction, Jurisdiction over the Defendant, and Venue). 12. What is the term for when a court has jurisdiction over the defendant even if they live in a different state? a. Long Arm Jurisdiction b. In Rem Jurisdiction c. Quasi In Rem Jurisdiction d. In Personam Jurisdiction 13. What is the term for when a court has authority over property? a. Long Arm Jurisdiction b. In Rem Jurisdiction c. Quasi In Rem Jurisdiction d. In Personam Jurisdiction 14. True or False: The Court of Appeals reviews the records of the previous trial to see if there are any errors of law. a. True b. False 15. When should a case be brought to litigation? a. It should be the first step b. A case should never be brought to litigation c. Only when mediation and all other options have been exhausted 16. Describe these dispute resolutions: Negotiation, Mediation, and Arbitration. 17. What burden of proof must the plaintiff satisfy in order to prevail? a. Beyond a reasonable doubt b. Clear and convincing evidence c. Preponderance of the evidence d. None of the above 18. True or False: Business is “global” in nature. a. True b. False 19. How do businesses go global once they decide to do so? (list three ways) 20. What is the FCPA? 21. Payments to officials in other nations to encourage workers to do their normal jobs, but to do so more quickly or more efficiently. a. Employment Law b. Minimum Wage c. Grease Payments d. Expropriation 22. What is the Dodd-Frank Act? a. Established the taking of a firm’s facilities by the government b. Provides a bounty for whistle-blowers who help the SEC uncover illegal conduct. c. I don’t know 23. Explain: Nationalization, Expropriation, and Confiscation.


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