Mangmt 3540 Ch. 1 Basic Definitions
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8 terms
Terms | Definitions |
|---|---|
 Law | a body of rules enforced by a government |
| Contract | a legally enforceable promise or set of promises |
| Breach of Contract | a failure to fulfill contractual obligations |
| Tort | a civil wrong other than breach of contract for which the law provides a remedy |
| Negligence | an unintentional violation of a legal duty to use a standard of care |
| Common Law | a legal system of court-made law where the rules are derived from previously decided cases |
| Stare Decisis | a legal doctrine requiring courts to follow previous decisions called precedents |
| Cause of Action | a stated set of facts giving rising to a valid lawsuit |
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