Study sets, textbooks, questions
Upgrade to remove ads
BLS chapter 1
Terms in this set (42)
A body of enforceable rules governing relationships among individuals and between individuals and their society.
Rule of law
Principle that the law applies to everyone, even those who govern
Anything of value that is owned or controlled
The state or fact of owning something
The science or philosophy of law
A legal system based on custom and court rulings
A law that governs relationships between individuals and defines their legal rights.
cases involving the action of public agencies or officials
law that involves the interpretation and application of the U.S. Constitution and state constitutions
The body of law created by administrative agencies (in the form of rules, regulations, orders, and decisions) in order to carry out their duties and responsibilities.
A law that defines crimes against the public order.
the rules and regulations parties agree to as part of their contractual relationships
law dealing with ownership
the body of law that governs contract enforcement
Law that deals with harm to a person or a person's property.
Law that defines, describes, regulates, and creates legal rights and obligations.
Law that establishes the methods of enforcing the rights established by substantive law.
A written plan of government
the act of making or enacting laws
Another name for legislation
written laws enacted by legislatures
Uniform Commercial Code (UCC)
a comprehensive statutory scheme that includes laws that cover aspects of commercial transactions
a belief or judgment that rests on grounds of insufficient fact for completed certainty
prior cases whose principles are used by judges as the bases for their decisions in present cases
a quotation from or reference to a book, paper, or author, especially in a scholarly work.
Stare Decisis (precedent)
the legal principle of determining points in litigation according to precedent.
the court's decision
The idea that constitutional interpretation is relative to the time in which the Constitution is being interpreted.
A view that the Constitution should be interpreted according to the original intentions or original meaning of the Framers. Many conservatives support this view.
Conflicts of Law
Rules of law the courts use to determine that substantive law applies when there is an inconsistency between laws of different states or countries.
something that forces obedience with a law or rule
the right of an individual to take another person's resources because that person has failed to meet the requirements of the law
breach of contract
The failure, without legal excuse, of a promisor to perform the obligations of a contract.
Awarded for breach of contract attempt to make a plaintiff "whole," as though in an economic sense the defendant had not breached the contract
A legal action to compel a party to carry out the terms of a contract.
deliberate acts intended to cause harm
careless neglect, often resulting in injury
The legal responsibility for damage or injury even if you are not negligent
Punitive damages (exemplary damages)
Monetary damages that may be awarded to a plaintiff to punish the defendant and deter similar conduct in the future.
A business owned by stockholders who share in its profits but are not personally responsible for its debts
the system of governing a company so that the interests of corporate owners and other stakeholders are protected
Sets found in the same folder
BLS chapter 3
BLS chapter 2
BLS chapter 4
BLS chapter 5
Sets with similar terms
Chapter 1 - Business Law Definitions
Chapter 1 Business Law
Chapter One: Law as a Foundation for Business
Business Law Exam 1 cha 1-5
Other sets by this creator
ECO 347 Chapters 1 & 2
ISA chapter 9
ISA chapter 8