Buisness law vocab
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18 terms
Terms | Definitions |
|---|---|
 laws | enforcable rules of conduct in a society |
| code | laws grouped in an organized form |
| common law | law based on the current standards or customs of the people |
| Positive law | laws that are set down by a soverign or other authority to prevent disputes and wrongs from occuring in the first place |
| Jurisdiction | the power to decide a a case- over the most imporatnt cases |
| equity | fairness |
| constitution | document that sets forth the framework of a government and its relationship to the people it governs |
| constitutional law | when constitutions are adopted or amended, or when courts interpret constitutions |
| statutes | State and federal legistures are composed of elected representitves of the people. Acting for their citizens, these legislatures enact laws |
| ordinances | Pieces of legislation created by a town or city council or by a county board or commission |
| case law | Judicial branch creates this;after a trial has ended and one of the parties has appealed the result to a higher court. |
| stare decisis | doctrine that says lower courts must follow established case law in deciding similar cases |
| Adminitrative agencies | governmental bodies formed to carry out particular laws |
| civil law | protects the legal rights of an individual |
| criminal law | offense against society |
| Procedural law | sets forth how rights and responsibilites can be legally exercised and enforced through the legal system |
| substantive law | defines rights and duties |
| buisness law | rules that apply to buisness situations and transactions |
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