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The "Law in Action" Represents an Idealized View of Law

question 96

True/False

The "law in action" represents an idealized view of law, one that stresses an abstract set of rules that fails to take real people into account.


Definitions:

Liability

The state of being legally responsible for something, especially in terms of debts or legal obligations.

Duty of Accounting

An agent’s obligation to keep an accurate account of the transactions of money and property made on behalf of the principal.

Agent

A representative authorized to act on behalf of another person or organization, especially in business or legal matters.

Principal

The original amount of money invested or loaned, upon which interest is calculated, or the main party involved in a transaction.

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