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Real Estate

Law 3

admin 2019.05.03 18:38 Views : 125

Check Your Understanding Answers

  1. What power do federal administrative agencies have?

    To make rules and regulations that carry out the statutes passed by Congress and to enforce the law, meaning they can mandate compliance with the law, forbid actions, and levy penalties and fines for any violation of the agency’s rules, regulations, and their underlying statutes
     
  2. What laws belong exclusively to the states and not to the federal government?

    Divorce law and the common law of torts and contracts remain under the domain of the individual states.
     
  3. Why was the Uniform Commercial Code enacted?
    • Simplify, clarify and modernize the law governing commercial transactions.
    • Permit the continued expansion of commercial practices through custom, usage, and agreement of the parties.
    • Make uniform the law among the various jurisdictions.
       
  4. What are local ordinances?

    Enactments by local legislative bodies such as the city council or the town board