Which of the Following Statements Is Correct with Respect to the Sources

question 115

Multiple Choice

Which of the following statements is correct with respect to the sources of our law?

• A) Equity is a system of law developed by the provincial legislatures.
• B) The common law derived aspects of the law of families and estates from the French Civil Code.
• C) The only province in which a judge is required to follow a comprehensive civil code is Ontario.
• D) The term stare decisis refers to the practice of following precedent, which forms the basis of our common law system.
• E) The Courts of Chancery developed the law of contracts.

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Definitions:

Expenditures

Funds spent by a business in the pursuit of profit and other business activities, including operating and capital expenses.

Private Purpose Trust Fund

A fund typically used by governmental entities to report all other trust arrangements under which principal and income benefit individuals, private organizations, or other governments.

Fiduciary Fund

A fund used to account for assets held by a government in a trustee or agency capacity for individuals, private organizations, or other governments.

Special Revenue Fund

A fund used by a government to account for revenue from specific sources that are restricted or committed to expenditure for specified purposes other than debt service or capital projects.