Textbook: Business Law and the Legal Environment What is law, and what are some of its functions? What is English common law, and what role does it play in the U.S. judicial system? Explain the priority of law in the United States. For example, how do the various laws take precedence over each other? What are long-arm statutes, and how do they allow states to exercise jurisdiction over individuals or business entities? What are the two main types of exclusive jurisdiction granted to federal courts by the Constitution