How can we help?

You can also find more resources in our Help Center.

26 terms

Business Law (Chapter 1)

STUDY
PLAY
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