BUSINESS ADMINISTRATION
BUSINESS LAW
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -At both the federal and state levels, with the exception of the legal system of Louisiana, the law of the United States is largely derived from the common law system of English law, which was in force in British America at the time of the American Revolutionary War.
Detailed explanation-2: -The American system is a “common law” system, which relies heavily on court precedent in formal adjudications. In our common law system, even when a statute is at issue, judicial determinations in earlier court cases are extremely critical to the court’s resolution of the matter before it.
Detailed explanation-3: -The American judicial system is based on British common law, which is then but-tressed by, among other sources, the U.S. Constitution, court cases, statutes, restate-ments, decrees, treatises, and various other rules and regulations.
Detailed explanation-4: -common law, also called Anglo-American law, the body of customary law, based upon judicial decisions and embodied in reports of decided cases, that has been administered by the common-law courts of England since the Middle Ages.
Detailed explanation-5: -England and Wales has a common law legal system, which has been established by the subject matter heard in earlier cases and so is the law created by judges.