The Following Questions Refer to the Excerpt Below

question 41

Multiple Choice

The following questions refer to the excerpt below.
"The question,whether an act,repugnant to the constitution,can become the law of the land,is a question deeply interesting to the United States,but,happily,not of an intimacy proportioned to its interest.It seems only necessary to recognize certain principles,supposed to have been long and well established to decide it… Thus,the particular phraseology of the constitution of the United States confirms and strengthens the principle,supposed to be essential to all written constitutions,that a law repugnant to the constitution is void;and that courts,as well as other departments,are bound by that instrument…"
Chief Justice John Marshall,1803
-Which of the following best explains the significance of decisions like this one?

• A) They limited the national government's authority to respond to economic issues.
• B) They established the supremacy of federal laws over state laws.
• C) They opened the door for the abolition of slavery.
• D) They limited the extension of property rights.

---

Definitions:

Equity Interest

Ownership interest in a company, represented by holding the company's stock.

Sub-subsidiary

A company that is indirectly controlled by a parent company through another subsidiary, essentially being a 'grandchild' in the corporate family hierarchy.

Circular Shareholdings

A corporate structure where companies possess shares in one another in a closed loop, complicating the assessment of true economic ownership and control.

Corporations Act

Legislation that governs the operations of corporations, their formation, financial reporting, governance, and dissolution, often detailing the legal responsibilities of a company’s management and board of directors.