Purpose of Law
What is one main purpose of law that prevents chaos and ensures structure?
Maintain Order
What term refers to the rules used to determine right and wrong?
Ethics
What ancient code is one of the earliest written sets of laws?
The Code of Hammurabi
What document spells out the principles by which the U.S. government operates?
The Constitution
What clause gives Congress the power to regulate interstate trade?
The Commerce Clause
Which purpose of law ensures fairness, justice, and equality under the law?
Protect Rights and Freedoms
What principle asks, “Would I want to be treated this way?”
The Golden Rule
What ancient Roman laws were the first to be publicly displayed?
The Twelve Tables
What are the first ten amendments to the Constitution called?
The Bill of Rights
What amendment protects against unreasonable searches in business inspections?
The 4th Amendment
What purpose of law provides a system for handling conflicts through fair courts?
Resolve Disputes
What is the problem with using feelings and opinions as a moral guide?
They are subjective and vary between people
What medieval trade system created fast, fair dispute resolution for merchants?
Lex Mercatoria (Law of Merchants)
What type of law is based on court decisions and precedents?
Common Law
What term refers to rules governing global trade, contracts, and import/export regulations?
International Business Law
What purpose supports social welfare, public safety, and the environment?
Promote the Common Good
Name two ethical character traits important in decision-making.
Honesty, Justice, Compassion, Integrity
What concept in English Common Law means “let the decision stand”?
Stare Decisis
What type of law is made by legislatures like Congress or state assemblies?
Statutory Law
What are two examples of current trends impacting modern business law?
Data Privacy, Artificial Intelligence, ESG, Cybersecurity (any two)
Why do we need laws to ensure fairness and justice in society?
To create predictable outcomes and build trust within communities
What principle seeks to create the “greatest good for the greatest number”?
The Greatest Good Principle
What later Roman law influenced modern European legal systems?
Justinian’s Code
What type of law is created by agencies like the FCC or SEC?
Administrative Law
What principle prevents states from interfering with private contracts?
The Contracts Clause