1. is a law developed by judges, courts, and similar tribunals. Over time, the decisions in individual cases establish precedents for future cases: A. Common Law B. Tort Law C. State Law D. Federal Law E. Local Law

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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### Understanding Different Types of Law

#### Question 1:
___________ is a law developed by judges, courts, and similar tribunals. Over time, the decisions in individual cases establish precedents for future cases:

A. Common Law  
B. Tort Law  
C. State Law  
D. Federal Law  
E. Local Law

#### Explanation:
This question assesses your understanding of the types of laws and the processes through which they are developed. Each option represents a different area of legal practice, and it is essential to identify which one relies on judicial precedents.
Transcribed Image Text:### Understanding Different Types of Law #### Question 1: ___________ is a law developed by judges, courts, and similar tribunals. Over time, the decisions in individual cases establish precedents for future cases: A. Common Law B. Tort Law C. State Law D. Federal Law E. Local Law #### Explanation: This question assesses your understanding of the types of laws and the processes through which they are developed. Each option represents a different area of legal practice, and it is essential to identify which one relies on judicial precedents.
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