At a Recent Computer Show, You Heard a Student Trying

question 153

Multiple Choice

At a recent computer show, you heard a student trying to explain our legal system to a man who recently immigrated from Russia. Which one of the student's statements, below, is correct?

• A) All the provinces follow law that stemmed from the English common law.
• B) The chief characteristic of the common law is the theory of precedent. That is, judges are bound by decisions of judges of the same or higher courts in that jurisdiction on the same point of law.
• C) Today, we are governed by statutes passed by our elected representatives as well as by judge-made law.
• D) Judge-made law in England came from two traditions, civil law and parliamentary supremacy.
• E) With the creation of our court system, the equitable tradition was lost. Today a judge of our superior court does not apply principles or remedies developed by the courts of equity.

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Definitions:

Return On Investment

A financial metric used to evaluate the efficiency or profitability of an investment, calculated as net profit divided by the cost of investment.

Deferred Replacement

A decision to postpone the replacement of assets, often to manage costs or due to budget constraints, which may affect operational efficiency.

Invested Capital

Funds provided by investors or lenders used by a company to acquire or upgrade physical assets like buildings and machinery.

Return On Investment

A performance measure used to evaluate the efficiency or profitability of an investment, calculated as the net profit divided by the cost of the investment.