Introduction To Business Law Quiz Part- I

1.

Each legal norm consists of two main elements:
- A.
  
  Disposition and sanation
- B.
  
  Hypothesis of disposition and sanction
- C.
  
  Disposition and sanction
- D.
  
  Hypothesis of sanction and sanction
Correct Answer
C. Disposition and sanction

Explanation
A legal norm consists of two main elements: disposition and sanction. The disposition refers to the part of the norm that establishes the behavior or action that is required or prohibited. It sets out the rules or regulations that individuals must follow. The sanction, on the other hand, is the consequence or penalty that is imposed if the disposition is not complied with. It serves as a deterrent or punishment for non-compliance with the norm. Therefore, both disposition and sanction are essential components of a legal norm, as they define the expected behavior and the consequences for non-compliance.

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2.

Individual legal norms are those addressed...
- A.
  
  Precisely to a kind of legal relationship
- B.
  
  Precisely to the named as the subject of a particular business field
- C.
  
  Precisely to the named as the subject of a particular relationship
- D.
  
  Precisely to the named as the subject that is to execute the norm
Correct Answer
C. Precisely to the named as the subject of a particular relationship

Explanation
Individual legal norms are those addressed precisely to the named as the subject of a particular relationship. This means that these norms are specifically designed to regulate the behavior and obligations of individuals involved in a specific type of legal relationship. These norms are tailored to the unique dynamics and requirements of that particular relationship, ensuring that the rights and responsibilities of the individuals involved are properly defined and protected.

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3.

Dispositive legal norms are those that...
- A.
  
  Leave subjects full freedom to regulate mutual relations they are involved in
- B.
  
  Bind to one out of a few anticipated rules of conduct
- C.
  
  Leave subjects full freedom to regulate different relations(freedom within legal order framework)
- D.
  
  Leave subjects full freedom to regulate mutual relations(freedom within legal order framework)
Correct Answer
D. Leave subjects full freedom to regulate mutual relations(freedom within legal order framework)

Explanation
Dispositive legal norms are those that leave subjects full freedom to regulate mutual relations within the framework of the legal order. This means that individuals have the freedom to determine their own rules and agreements in their interactions with others, as long as they do not violate any existing laws or regulations. These norms provide flexibility and allow for individual autonomy while still maintaining a legal framework to ensure order and fairness.

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4.

There are three major systems of law in the world and those are:
- A.
  
  Continental European, Anglo-Saxon and Religious-Traditional
- B.
  
  Common-European, Anglo-Saxon and Religious-Traditional
- C.
  
  Continental European, Anglo-Saxon and Common-Law
- D.
  
  Continental Euroasian, Anglo-Saxon and Religious-Traditional
Correct Answer
A. Continental European, Anglo-Saxon and Religious-Traditional

Explanation
The correct answer is Continental European, Anglo-Saxon and Religious-Traditional. These three major systems of law are recognized and practiced in different parts of the world. Continental European law is based on civil law, which is derived from Roman law and is followed in countries such as France, Germany, and Italy. Anglo-Saxon law, also known as common law, is based on legal precedents and is followed in countries like the United Kingdom, the United States, and Canada. Religious-Traditional law is based on religious texts and is followed in countries where religion plays a significant role in legal matters, such as Islamic law in some Middle Eastern countries.

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5.

Elements of the system of law are:
- A.
  
  Legal norm, legal institution, source of law and field of law
- B.
  
  Legal norm, legal institution, brand of law and field of law
- C.
  
  Legal norm, legal institution, source of law and branch of law
- D.
  
  Legal norm, legal institution, branch of law and field of law
Correct Answer
D. Legal norm, legal institution, branch of law and field of law

Explanation
The correct answer is "legal norm, legal institution, branch of law and field of law". This answer accurately identifies the elements of the system of law. A legal norm refers to the rules and principles that govern behavior in a society. A legal institution is an organization or entity that enforces and administers the law. Branch of law refers to the different categories or areas of law, such as criminal law, civil law, or constitutional law. Field of law refers to the specific subject matter or specialization within a branch of law, such as family law or corporate law.

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6.

The pramble is a...
- A.
  
  Normative part of a constitution
- B.
  
  Substantive part of a constitution
- C.
  
  Introductory part of a constitution
- D.
  
  Fundamental part of a constitution
Correct Answer
C. Introductory part of a constitution

Explanation
The preamble is the introductory part of a constitution. It typically states the purpose, goals, and principles of the constitution. It sets the tone for the rest of the document and provides a general overview of the values and aspirations of the nation. While it may contain some normative or substantive elements, its primary function is to introduce and provide context for the constitution as a whole.

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7.

A court ruling is (or may be)...
- A.
  
  An individual legal document
- B.
  
  A general legal document
- C.
  
  Both general and individual legal document
- D.
  
  A legal transaction
Correct Answer
C. Both general and individual legal document

Explanation
A court ruling can be considered both a general and individual legal document because it applies to a specific case or individual, but it also sets a precedent that can be used as a guide for future similar cases. It provides a legal decision that not only resolves the immediate dispute but also establishes a legal principle that can be applied in other similar situations. Therefore, a court ruling has both specific implications for the parties involved and broader implications for the legal system as a whole.

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8.

The hierarchy of sources of law (from highest to lowest legal force):
- A.
  
  Constitution, acts, bylaws, precedent, general doc. of non-state organizations, customs and court documents
- B.
  
  Constitution, acts, bylaws, general doc. of non-state organizations, customs and court documents
- C.
  
  Constitution, acts, bylaws, general doc. of non-state organizations, court organs and court documents
- D.
  
  Constitution, bylaws, acts, general doc. of non-state organizations, customs and court documents
Correct Answer
B. Constitution, acts, bylaws, general doc. of non-state organizations, customs and court documents

Explanation
The correct answer is "constitution, acts, bylaws, general doc. of non-state organizations, customs and court documents." This answer correctly orders the hierarchy of sources of law from highest to lowest legal force. The constitution is the highest source of law, followed by acts and bylaws. General documents of non-state organizations come next, followed by customs and finally court documents.

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9.

The possibility of a subject of law to bear powers and obligations is called its
- A.
  
  Business capacity
- B.
  
  Legal capacity
- C.
  
  Legal subjectivity
- D.
  
  Willingness to interact into a legal procedure
Correct Answer
B. Legal capacity

Explanation
Legal capacity refers to the ability of a subject of law to bear powers and obligations. It is the capacity of an individual or entity to have rights and responsibilities, and to be recognized as a legal entity. Legal capacity allows a subject of law to enter into contracts, sue or be sued, and exercise other legal rights and obligations. It is an essential concept in legal systems as it determines the ability of individuals or entities to participate in legal proceedings and be bound by the law.

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10.

A legal person is...
- A.
  
  Created with payed investment, and ceases with lost of the initial investment
- B.
  
  Created by establishment, and ceases with detention from a proper registry
- C.
  
  Created by endowment, and ceases with deletion from a proper registry
- D.
  
  Created by establishment, and ceases with deletion from a proper registry
Correct Answer
D. Created by establishment, and ceases with deletion from a proper registry

Explanation
A legal person is created by establishment, meaning it is formed or incorporated through a proper legal process. It ceases to exist when it is deleted or removed from a proper registry, indicating that its legal status is terminated or revoked.

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Introduction To Business Law Quiz Part- I

Each legal norm consists of two main elements:

Individual legal norms are those addressed...

Dispositive legal norms are those that...

There are three major systems of law in the world and those are:

Elements of the system of law are:

The pramble is a...

A court ruling is (or may be)...

The hierarchy of sources of law (from highest to lowest legal force):

The possibility of a subject of law to bear powers and obligations is called its

A legal person is...