Business Law CH1
Terms in this set (90)
The most important primary source of our law is...
The US constitution
A body of enforceable rules governing relationships among individuals and between individuals and their society
...Establish rights, duties, and privileges that are consistent with the values and beliefs of a society or its ruling group
The state of being legally responsible for something, such as a debt or obligation
The failure to perform a legal obligation
Areas of law that may affect business decision making
Courts and Court Procedures
6 Functional fields of Business
Production and transportation
Research and development
Accounting and finance
Human resource management
Primary Sources of Law
A document that establishes the law on a particular issue, such as a constitution, a statue, an administrative rule, or a court decision
Secondary sources of law
A publication that summarizes or interprets the law, such as a legal encyclopedia, a legal treaties, or and article in a law review
4 primary sources of law in US
Case law (court decisions)
The body of law derived form the US constitution and the constitutions of the various states
The ...th Amendment to the US constitution reserves to the states all powers not granted to the federal government
The 10th Amendment
The 10th Amendment
Declares that Congress can do anything it needs to do in any field of law
The body of law enacted by legislative bodies.
(at any level of gov. such as the statues passed by congress or by state legislatures)
Statutory law, a primary source of law, involves the US ... and the state and local ...
A regulation enacted by a city or country legislative body that becomes part of that state's statutory law
statutes passed by municipal or county governing units to administer matters not covered by federal or state law
laws, rules, or orders
A model law developed by the National Conference of Commissioners on Uniform State Laws for the states to consider enacting into statute
The Uniform Commercial Code
One of the most important uniform acts, The ....facilitates commerce among the states by providing a uniform, yet flexible, set of rules governing commercial transactions.
Consists of the rules, orders, and decisions of administrative agencies.
Federal, state, or local government agency established to perform a specific function
The rules of law announced in court decisions.
Case law interprets statues, regulations, constitutional provisions, and other case law.
Much of American law is based on the .... legal system
Judges in US still apply ... principles when deciding cases
The body of law developed from custom or judicial decisions in English and US courts, not attributable to a legislature
A court decision that furnishes an example or authority for deciding subsequent cases involving identical or similar legal principles or facts
To stand on decided cases
A common law doctrine under which judges are obligated to follow the precedents established in prior decisions
When US Congress passes federal statutes, they apply to all states
All US congressional laws apply to every state
The ... is a uniform law adopted by all states that facilitates commerce.
Uniform Commercial Code
Administrative Agencies are created to
Perform specific government fuctions
... law is derived from judges' decisions for actual cases
The rules, orders, and decisions of federal, state, or local government administrative agencies
Laws (statutes and ordinances) enacted by federal, state, and local legislatures
The laws expressed in the US constitution and state constitutions
Two aspects of Stare decisis
1. Decisions made by higher courts are binding on lower courts
2. A court should not overturn its own precedents unless there is s strong reason to do so.
An area in which a court or courts have the power to apply the law
Any source of law that a court MUST follow when deciding a case.
Constitutions, statutes, and regulations that govern the issue being decided, as well as court decisions that are controlling precedents within the jurisdiction
Departures from the Precedent
If a court decides that precedent is simply incorrect or that technological or social changes have rendered the precedent inapplicable, the court may rule contrary to the precedent
Brown v. Board of Education of Topeka
The US Supreme Court expressly overturned precedent when it concluded that separate educational facilities for whites and blacks, which had been upheld as constitutional in numerous previous cases, were inherently unequal.
Cases of first impression
Case of an issue that have never been raised in that jurisdiction.
In such cases, courts often look at precedents established in other jurisdictions (Persuasive authorities) for guidance
Any legal authority or source of law that a court may loot to for guidance but need not follow when making its decision
The relief given to an innocent party to enforce a right or compensate for the violation of a right
... is a branch of law, founded on what might be described as notions of justice and fair dealing, that seeks to supply a remedy when no adequate remedy at law is available
One who initiates a lawsuit
One against whom a lawsuit is brought, or the accused person in a criminal proceeding
Difference between a court of law and a court of equity
remedies in court of law are limited whereas court of equity could issue a decree for specific performance, or an injunction (directing a party to do or refrain form doing a particular act).
In certain cases, court of equity could allow for rescission (cancellation) of a contract.
Courts of law and equity are now merged in most states today, thus a plaintiff may request both legal and equitable remedies in the same action.
Action at law procedure
Initiation of lawsuit by filing a complaint
Decision by jury or judge
Result is the judgment
Remedy is Monetary damages
Action at equity procedure
Initiation of lawsuit by filing a petition
Decision by judge (No jury)
Result is the Decree
Remedy is Injunction (order), specific performance, or rescission (cancellation)
Equitably principles and maxims
General propositions or principles of law that have to do with fairness (equity)
Provides guidance in deciding whether plaintiffs should be granted equitable relief.
The science or philosophy of law
The study of law
The oldest school of legal thought, based on the belief that the legal system should reflect universal (higher) moral and ethical principles that are inherent in human nature
A school of legal thought centered on the assumption that there is no law higher than the laws created by a national government. Laws must be obeyed, even if they are unjust, to prevent anarchy.
A school of legal thought that looks to the past to determine what the principle of contemporary law should be
A school of legal thought that holds that the law is only one factor to be considered when deciding cases and that social and economic circumstances should also be taken into account
Different methods to classify laws
Substantive and Procedural laws
Civil law and Criminal law
National and International law
Federal law and state law
Private law and public law
Law that defines, describes, regulates, and creates legal rights and obligations.
(The written rules that define which conduct is and is not prohibited)
Law that establishes the methods of enforcing the rights established by substantive law
Branch of law dealing with the definition and enforcement of all private or public rights, as opposed to criminal matters
(disputes among private individuals)
Civil law system
Not civil law
It is a system of law derived from Roman law that is based on codified laws (rather than case precedents)
Branch of law that defines and punished wrongful actions committed against the public
(wrongs committed against society)
Law that pertains to a particular nation
(disputes that occur within a country's borders)
Law that governs relations among nations
(disputes that occur among two or more countries)
3 traditional remedies in courts of law
Items of value
Remedies in ... involve specific performand
Remedies in equity
Part of the common law tradition relies on the doctrine of ...
One of the important functions of law is to provide
Stability and predictability
... is a decision that furnishes an example or authority for deciding subsequent cases involving similar legal principles or facts
Cases where there is no binding precedent in the jurisdiction are called
cases of first impression
Today, court of law and equity still decide appropriate cases and provide the appropriate remedies
There is no law higher than the laws created b the government
Doctrines that have withstood the passage of time help guide us in shaping present laws
Universal law as applicable to all human beings
Takes into account customary practices and the circumstances surrounding the particular transaction
law that governs relations between persons
is Not a classification of law
when one country violates international law, enforcement can take the form of into ... and ...
persuasive tactics, severance of diplomatic relations
In a Civil law system, the primary source of law is..
Assume that Congress passes a law establishing a new administrative agency to oversee cyberlaw issues. The agency writes rules to enable it to carry out its duties. The rules written by the agency will be known as a part of ... law.
The Illinois state legislature passes a law raising the speed limit on certain state roads. This law becomes part of a body of law known as ... law
The National Conference of Commissioners on Uniform State Laws (NCCUSL) passes a new uniform act related to texting while driving. This uniform act...
becomes the law in every state that adopts the uniform act through legislative action
Richard is a state appeals court judge. In making Judicial decisions, Richard issues rulings that are consistent with precedents established in similar cases within his jurisdiction. Richard is following the principle of...
All of the cases that have been decided by US judges, as well as by English judges prior to the American Revolution, constitute a body of law known as the..
Sarah prevails in her lawsuit against Carl for injuries she sustained in a car accident, As a result, Sarah is entitled to a remedy. In US legal system, Sarah's remedy will most likely be in the form of...
A case comes before a Wisconsin state trial court on the subject of free speech on the Internet. It is a case of first impression, meaning that no case involving the same issue has been decided by the Wisconsin courts. In deciding such cases, it would not be considered proper for the judge to consider...
the judge's personal feelings about the Internet
Tyler believes that some laws passed by his state's legislature are bad, and he refuses to comply with them. He believes that there is a universal law above all others that grants rights to all people and that it is above all other laws. Tyler subscribes to what school of jurisprudential thought?
The natural law school
Elaine is involved in a car accident where the other driver ran a red light. To determine whether she has a case, her attorney would apply which of the following classification fo law?
Cyberlaw consists of
Traditional legal principles that have changed because of technology, and New laws that govern unique problems related to technology
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