Business Law > QUESTIONS & ANSWERS > Unit 1: Essential Legal Concepts (All)

Unit 1: Essential Legal Concepts

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Unit 1: Essential Legal Concepts Challenge 1: Foundations of Law 1. The theory of legal positivism is based on which of the following? The social construction of laws 2. The theory of legal realis... m is based on which of the following? Interpretation and enforcement 3. The theory of natural law is based on which of the following? Discovered moral truths 4. Knowledge of the Federal Trade Commission Act minimizes a business’ liability exposure when making advertising decisions. 5. Which of the following laws or agencies protects the public from discriminatory hiring practices? Title VII 6. Which of the following laws or agencies protects the public from the consequences of risky accounting practices? Sarbanes-Oxley Act 7. In which area of law are state and federal jurisdiction most likely to overlap? Environmental regulations 8. Which of the following is true of criminal law? Possible remedies include jail time. 9. Law that has been established by the courts over time is known as common law. 10. Select the true statement about substantive law in the U.S. It specifies the legal rights and duties of citizens. 11. Select the true statement about procedural law in the U.S. It is upheld to ensure fairness in applying the law. [Show More]

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