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Legal Principles and Systems in Business Quiz

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Which legal system is based on precedents and past decisions?

Common Law

Explanation

Legal system relying on past rulings.

What is the main source of law in a Civil Law system?

Statutes and Codes

Explanation

Laws written by legislative bodies.

What is the primary function of the judiciary in a legal system?

Interpret laws

Explanation

Judicial role in law interpretation.

In a legal context, what does 'mens rea' refer to?

Guilty mind

Explanation

Criminal intent.

What is the principle of 'caveat emptor' in contract law?

Let the buyer beware

Explanation

Buyer's responsibility for purchases.

Which legal doctrine allows a party to void a contract due to a mistake in the understanding of the terms?

Mistake

Explanation

Grounds for contract nullification.

In which legal system is the judge's role primarily to interpret the law and not create it?

Civil Law

Explanation

Judges interpret existing laws.

What is the concept of 'stare decisis' associated with?

Common Law

Explanation

Adherence to past legal decisions.

Which court typically has the authority to review decisions made by lower courts?

Supreme court

Explanation

Highest court's oversight.

#10

What is the purpose of the statute of limitations in law?

To limit the time for filing a lawsuit

Explanation

Time restriction on legal actions.

#11

In criminal law, what does the term 'double jeopardy' refer to?

Being tried twice for the same crime

Explanation

Prohibition on multiple trials for the same offense.

#12

What is the primary purpose of antitrust laws in business?

Prevent unfair competition

Explanation

Regulation to ensure fair market practices.

#13

Which legal system is influenced by religious principles and teachings?

Islamic Law

Explanation

Law shaped by religious beliefs.

#14

In contract law, what is the term for an agreement where both parties exchange promises?

Bilateral contract

Explanation

Mutual promise agreement.

#15

What legal doctrine allows a person to be held responsible for the actions of another person?

Respondeat superior

Explanation

Employer's liability for employee actions.

#16

What legal doctrine allows a court to order a person to do or refrain from doing a specific action?

Injunction

Explanation

Court-ordered action or prohibition.

#17

What legal term is used to describe a deliberate deception to secure unfair or unlawful gain?

Fraud

Explanation

Intentional deception for advantage.

Legal Principles and Systems in Business Quiz

Which legal system is based on precedents and past decisions?

What is the main source of law in a Civil Law system?

What is the primary function of the judiciary in a legal system?

In a legal context, what does 'mens rea' refer to?

What is the principle of 'caveat emptor' in contract law?

Which legal doctrine allows a party to void a contract due to a mistake in the understanding of the terms?

In which legal system is the judge's role primarily to interpret the law and not create it?

What is the concept of 'stare decisis' associated with?

Which court typically has the authority to review decisions made by lower courts?

What is the purpose of the statute of limitations in law?

In criminal law, what does the term 'double jeopardy' refer to?

What is the primary purpose of antitrust laws in business?

Which legal system is influenced by religious principles and teachings?

In contract law, what is the term for an agreement where both parties exchange promises?

What legal doctrine allows a person to be held responsible for the actions of another person?

What legal doctrine allows a court to order a person to do or refrain from doing a specific action?

What legal term is used to describe a deliberate deception to secure unfair or unlawful gain?

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