Introductory Business Law CLEP Prep Practice Exam

Which of the following is a primary source of laws?

1. The Constitution

2. Common Law

3. Equity Law

4. Agency Rules

The correct answer is: The Constitution

The Constitution is a primary source of laws because it is the supreme law of the land and establishes the basic framework and principles for all other laws. Common Law, which is based on court precedent, and Equity Law, which deals with fairness and justice, are both secondary sources of laws that are derived from the Constitution. Agency Rules, also known as administrative regulations, are created by government agencies and are not considered primary sources of laws. While they may have the force of law, they must be consistent with the Constitution and cannot override its provisions.