In Contrast to Roman Law Systems, Which Are Based on Legal

question 47

Multiple Choice

In contrast to Roman law systems, which are based on legal codes, the English common law developed primarily through _____________.

• A) judicial decisions
• B) statutes
• C) administrative orders
• D) royal edicts

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Definitions:

Vicariously Liable

A legal principle where one party is held responsible for the actions or omissions of another party, typically in employment relationships.

Secured Creditor

A lender or creditor that has the right to claim specific assets of the borrower if the debtor fails to pay back the owed money.

Debt Commitment

An obligation by an entity to repay borrowed money, typically documented in a formal agreement.

Individual Bondholders

Individuals or entities that own bonds issued by corporations, governments, or other organizations, providing a loan to the issuer in exchange for periodic interest payments and the return of the bond's principal at maturity.