Brooklyn College Business Law 1 MIDTERM

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What is the Law?
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The Law consists of enforceable rules governing relationships among individuals and between individuals and their society.
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Natural Law
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A higher or universal law exists that applies to all human beings and that written laws should imitate inherent principles. If written law is unjust then it is not a natural law and need not to be obeyed.
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Positivist Law
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thought centered on the assumption that there is no law higher than the law is created by the government. Obeyed even if unjust.
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Historical School
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A school of legal thought that stresses the evolutionary nature of law and looks to doctrines that have withstood the passage of time for guidance in shaping present laws.
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Legal Realism
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Advocated a less abstract and more pragmatic approach to the law, an approach that would take into account customary practices and the circumstances in which transactions take place. The school left a lasting imprint on American jurisprudence.
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Monetary Damages
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amount given to a party whose legal interest have been injured
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Remedies at Law
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compensation if a person wrongs another of one or all, 1) land, 2) items of values, or 3) money in the court of law
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Remedies in Equity
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remedies are. 1) Specific Performance; ordering a party to perform an agreement as promised. 2) Injunction; ordering a party to cease engaging in a specific activity or to undo some wrong injury 3)Rescission; the cancellation of a contractual obligation
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Plaintiff
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The suing party
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Defendant
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The party being sued
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Precedent
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decision that furnished an example or authority for deciding on the principles suggested by earlier cases. Judges attempt to base decisions on the principles suggested by earlier cases.
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Departures from precedents
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Sometimes a court will depart from the precedent if it decides it should no longer be followed; case-overturned that separate schools for blacks and whites are equal
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Stare Decisis
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Deciding new cases with reference to former decisions (precedents)
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Litigation
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A lawsuit., The process of resolving a dispute through the court system.
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Alternative Dispute Resolution
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An increasingly popular process that occurs when parties try to resolve disagreements outside of the usual adversarial system by using creative settlement techniques.
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Negotiation
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Simplest form, parties settle dispute informally, with or without attorneys to represent them
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Mediation
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A neutral third party acts as a mediator and works with both sides in the dispute to facilitate a resolution
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Arbitration
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An arbitrator (third party or expert panel) hears a dispute and imposes a resolution on the parties
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Arbitration clause
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specifying that any dispute arising under the contract will be resolved through arbitration rather than court, A clause in a contract that provides that, in the event of a dispute, the parties will submit the dispute to arbitration rather than litigate the dispute in court.
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Summary Jury
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parties present their arguments and evidence and the jury renders a verdict and the jury's verdict is not binding, but it is a guide to both sides
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Motion for Summary Judgement
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Asks the court to grant a judgment in that party's favor without a trial. Only granted if its determines that no facts are in dispute and the only question is how the law applies to the facts.
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Checks and Balances in Constitution
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For each branch to check the other branches to make sure none has too much power.
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Discovery
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A phase in the litigation process during which the opposing parties may obtain information from each other and from third parties prior to trial.
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Voire Dire
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jury selection process to make sure jurors are not bias or related to plaintiff or defendant
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Police Powers
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State regulatory powers
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Can a state enact a statute that violates the United States Constitution?
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The constitution is the supreme law of the land. No state can enact a statute that violates it. Federal laws have power over State law.
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Appellant
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A party appealing a court decision or ruling.
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Appellee
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The party against whom an appeal is filed
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Equal protection
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Government cannot enact laws that treat similarly situated individuals Differently
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Procedural due Process
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The government must give a person proper notice and an opportunity to be heard.
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Strict Scrutiny
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If a law or action prohibits or inhibits some persons from exercising a fundamental right, the law or action will be subject to \"
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Intermediate Scrutiny
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Cases involving discrimination based on gender or legitimacy
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Full Faith and Credit Clause
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Ensures that rights established under eeds, wills, contracts, and similar instruments in one state will be honored by other states
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Commerce Clause
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Prevents states from establishing laws and regulations that would interfere with trade and commerce among states
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Tort
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To compensate those who have suffered a loss or injury due to another person's wrongful act.
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Defamation
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Hurting a person's good reputation
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Libel
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Hurting a person's good reputation with statements in writing or other permanent forms.
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Slander
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False charges and malicious oral statements about someone
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Appropriation
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Use of another person's name, likeness, identifying characteristic without permission and benefit of user.
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Wrongful interference with a contractual relationship
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Maliciously induce a person to commit breach of contract or disrupted ability of party to perform their obligations under a contract.
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Wrongful interference with a Business Relationship
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Unreasonably interfering with another's business in their attempt to gain a greater share of the market
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Constitutional Law
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laws expressed in the federal and state constitutions that set forth general organization, powers, and limits, of their respective government
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Statutory Law
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Laws enacted by federal, state, and local legislatures, Law passed by the U.S. Congress or state legislatures
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Administrative Law
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Law that governments enact to regulate industries, businesses, and professionals.
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Case Law
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A law established by following earlier judicial decisions
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Legislative Branch
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(Congress) citizens elect legislators to the Senate and House of Representatives. It establishes laws
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Executive Branch
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the branch of government that carries out laws, Led by the President, carries out laws, heads the military, holds meetings in the White House - Found in the Second Article of the Constitution
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Judicial Branch
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Branch that interprets laws
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Intentional Tort
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Require intent. The tortfeasor must intend to commit an act that interferes with personal or business interests in a way not permitted by law
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