Business Law (Chapter 1)

26 terms by leannep360

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laws

enforceable rules of conduct in a society

code

laws grouped into an organized form

common law

law based on current standards or customs of the people

positive law

law based on the dictates of a central political authority

jurisdiction

power of a court to decide a case

equity

basic fairness

constitution

document that sets forth the framework of a government and its relationship to the people it governs

statutes

laws enacted by state or federal legislatures

ordinance

legislation enacted by a town, city, or county board or commission

case law

made when appellate (pertaining to appeals) court endorses a rule to be used in deciding court cases

stare decisis

doctrine that requires lower courts to follow existing case law in deciding similar cases; "let the decision stand"

administrative agencies

government bodies formed to carry out particular laws

civil law

group of laws used to provide remedy for wrongs against individuals

criminal law

group of laws that defines and sets punishments for offenses against society

procedural law

group of laws that define the methods for enforcing legal rights and duties

substantive law

group of laws that define rights and duties

sovereign

powerful leader or authority

jury

panel of citizens sworn by a court to decide issues of fact in court cases (unique to common law system)

injunction

court order for a person to do or not do a particular act

constitutional law

law made when fundamental, supreme law of the land is adopted, amended or interpreted

Bill of Rights

first ten amendments to the U.S. Constitution

interstate commerce

trade and other commercial intercourse between or among businesses in different states

intrastate commerce

commerce conducted wholly within one state

crime

punishable offense against society

ethics

practice of deciding what is right or wrong in a reasoned, impartial manner

civil disobedience

open, peaceful, violation of a law to protest its alleged, or supposed, injustice

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