Business Law Test – Flashcards
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enforceable rules of conduct in a society
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laws
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laws that are grouped into an organized form
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code
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law based on the current standard or customs of the people
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common law
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law dictates by the central authority figure to prevent disputes and wrongs
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positive law
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power to decide a case
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jurisdiction
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fairness
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equity
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when constitutions are adopted or amended or when the courts interpret constitutions
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constitutional law
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laws that are for the people
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statutes
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legislation at the local city level
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ordinance
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governmental bodies formed to carry out particular laws, controlled by the executive branch and the laws they create are called rules and regulations
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administrative agencies
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law made after a trial has ended and one of the parties has appealed the result to a higher power
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case law
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doctrine that requires lower courts to follow case law in similar cases
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stare decisis
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group of laws that redress wrongs against individual persons
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civil law
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offense against society
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crime
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deals with methods of enforcing legal rights and duties
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procedural law
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defines rights and duties and offensives
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substantive law
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private wrongs against people
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torts
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2 greatest systems of law
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Roman civil law and English common law
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court with no jury
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equity courts
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4 stages of forming a legal system
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people take revenge for wrongs done to them, awards of money or goods are substituted for revenge, courts are formed, central authority figure intervenes to prevent and punish wrongs
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business law greatly affects what 2 things
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business forms and consumers
