business law

Part 1 Name Multiple-Choice Select the answer that best completes each of the following statements. Write the letter of your choice in the answer column. 1. The purpose of the Uniform Commercial Code is to provide (a) uniform laws for all states to regulate business transactions in all states: (b) regulations to be followed in the sale of uniforms; (c) laws to regulate international business transactions. 2. Statutes are laws passed by (a) state and federal legislatures; (b) the Supreme Court; (c) Old English Courts. 2 3. Laws enacted by local governments, such as a city council, are often called (a) statutes: (b) ordinances: (c) declarations. 3 4. Unenforceable obligations that people have to one another are considered to be an aspect of (a) moral law; (b) the law merchant; (c) the law of unenforceable promises. 5. The power of a court to determine whether laws enacted by legislatures or decisions made by lower courts violate the constitution is (a) judicial skepticism; (b) constitutional review; (c) judicial review. 5 6. The authority of a court, as granted by a constitution or legislative act, is known as the court's (a) mandate; (b) jurisdiction; (c) territory. 6. 7. If a court has the power to review the decisions of another court, it has (a) appellate jurisdiction: (b) original jurisdiction; (c) overrule authority. 7 8. In the United States, the principles and ideals guarding our individual liberty and freedom are presented in (a) judicial decisions; (b) the U.S. Constitution; (c) the common law. 8 9. Amendments to the federal Constitution require approval, or ratification, by (a) three- fourths of the states; (b) a general election; (c) a majority vote by Congress. 9 10. Normally appeals from federal district courts are initially heard by (a) the U.S. Supreme Courts; (b) circuit courts of appeals: (c) state supreme courts. 10