How is the federal government divided? Why are checks and balances necessary? Explain with instances
What will be an ideal response?
The federal government is divided into three branches:
a. Legislative branch: It is the part of the U.S. government that makes federal laws. It is also known as the Congress (the Senate and the House of Representatives).
b. Executive branch: It is the part of the U.S. government that enforces the federal law; it consists of the president and vice president.
c. Judicial branch: It is the part of the U.S. government that interprets the law. It consists of the Supreme Court and other federal courts.
Checks and balances are built into the Constitution to ensure that no one branch of the federal government becomes too powerful. Examples of some of the checks and balances in the U.S. system of government are as follows:
• The judicial branch has the authority to examine the acts of the other two branches of government and determine whether those acts are constitutional.
• The executive branch can enter into treaties with foreign governments only with the advice and consent of the Senate.
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Indicate whether the statement is true or false
Scissorwire Inc sells shares of its stock to the public, with each share valued at $16. After a year, the company incurs a loss and the price of each share drops to $5
The company reveals that it had deliberately not registered with the SEC before going public and that it has no money to pay the investors. Which of the following holds well in this context? A) Scissorwire Inc. can register with the SEC at any point after the dip in shares. B) The U.S. government can file a criminal lawsuit against Scissorwire Inc. to seek criminal penalties. C) The investors have been negligent in not verifying registration before purchase of shares and cannot rescind their purchase. D) Scissorwire Inc. is liable for the violation of the Securities Exchange Act of 1934.