Exam 1 TROYONLINE Legal Environment of Business LAW-2221

This is Exam I. It will be comprised of 100 multiple choice questions and must be completed in 2 hours. As always, this is a closed book, closed note, no resources exam.

!Course Objectives: On completion of the course, the student should be able to:

1. Recognize and understand the scope, extent and importance of the law.
2. Define and differentiate between the various classifications and sources of law.
3. Incorporate business ethics to business principles.
4. Explain and apply basic constitutional rights conferred to US citizens.
5. Know the functions of the federal and state court systems and their procedures.
6. Name, classify, and describe the different types of contracts.
7. Identify the elements to a valid contract, breach, and remedies afforded.
8. Demonstrate analytical skills and reasoning power.