Statutory Law Is

question 9

Multiple Choice

Statutory law is:

• A) not well suited for making drastic or comprehensive changes,thus its importance as a source of law has diminished since the end of the nineteenth century.
• B) the primary source of law for such business law topics as contracts,agency,property,and trusts.
• C) a primary source of new law and ordered social change in the United States.
• D) created by legislatures,which are less likely to repeal prior enactments than courts are likely to overrule prior decisions.

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Definitions:

Piece-rate System

A compensation method in which employees are paid based on the quantity of work they complete, rather than the hours worked.

Product Manufacturing

The process of converting raw materials or components into finished goods that meet a company's specifications and can be offered to the market.

Fiberglass Pipes

Tubular products made from fiberglass, a strong and lightweight material, used in various applications such as plumbing, industrial processes, and infrastructure.

Employee Stock Ownership Plan

A program that gives employees ownership interest in the company through the acquisition of its stocks, often used as a corporate finance strategy.