10. Regulations are:
a.
Laws passed by Congress.
b.
Rules made by local governments.
c.
Derived from decisions made by judges.
d.
Rules adopted by administrative agencies.
11. What is an Unfair Trade Practice and which Administrative Agency regulates it?
12. Some of the rights in the Constitution’s Bill of Rights extends to Corporations.
a.
True.
b.
False.
13. Forms of Alternative Dispute Resolution (“ADR”) include all of the following except:
a.
Mediation.
b.
Settlement.
c.
Litigation.
d.
Arbitration.
14. Consequences of being convicted a crime include all of the following except:
a.
Prison.
b.
Fines.
c.
Community service.
d.
Damages.
15. Securities are only regulated by federal laws.
a.
True.
b.
False.
Endnotes
Overview – Rule of Law. United States Courts. Retrieved from: www.uscourts.gov/educational-resources/
educational-activities/overview-rule-law.
Purposes and Functions of Business Law. UpCounsel. Retrieved from: https://www.upcounsel.com/purposes-
and-functions-of-business-law.
Williams, L. and Lumen Learning. The Meaning and Purposes of Law. Lumen Learning – Introduction to
Business. Retrieved from: https://courses.lumenlearning.com/wmopen-introbusiness/chapter/meaning-and-
purposes-of-the-law/.
Feltes, G. A Guide to the U.S. Federal Legal System - Web-based Public Accessible Sources. 2005. Hauser Global
Law School Program. Retrieved from: http://www.nyulawglobal.org/globalex/United_States.html.
How Laws Are Made. GovTrack. Retrieved from: https://www.govtrack.us/what-is-the-law.
Public Laws. December 28, 2017. National Archives. Retrieved from: https://www.archives.gov/federal-register/
laws.
Steenken, B. & Brooks, T. The United States Legal System. Sources of Law. Retrieved from:
http://sourcesofamericanlaw.lawbooks.cali.org/chapter/the-united-states-legal-system/.
Business Law Courses. edX. Retrieved from: https://www.edx.org/learn/business-law.
12
Chapter 1 American Law, Legal Reasoning, and the Legal System
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