Legal Environment of Business Midterm – Flashcards
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"Tell me and I forget Teach me and I'll remember Involve me and I learn"
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-Benjamin Franklin (ethics quote)
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"Remember not only to say the right thing at the right time, but far more difficult to leave un-said the wrong thing at a tempting time."
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-Benjamin Franklin (ethics quote)
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Law
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Book definition - A body of enforceable rules governing relationships among individuals and their society. Notes definition - A set of enforceable rules and regulations to control and to predict.
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Precedent
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Book definition - A court decision that furnishes an example or authority for deciding subsequent cases involving identical or similar facts. Notes definition - To follow prior legal decisions (Same thing as Stare Decisis).
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Plaintiff
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One who brings/initiates the lawsuit.
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Defendant
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Book definition - One against whom a lawsuit is brought; the accused person in a criminal proceeding. Notes definition - Has to respond.
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Jurisdiction
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Power to act.
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Venue
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The place of the court.
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Standing
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Legal authority to be in the lawsuit.
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Federal Court System
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US Supreme Court---Court of Appeals---Trial Court
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State Court System
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State Supreme Court---State Court of Appeals---Trial Court
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Breach
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Failure to perform legal obligation
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Primary Source of Law
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A document that establishes the law on a particular issue, such as a constitution, a statute, an administrative rule, or a court decision.
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Secondary Source of Law
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A publication that summarizes or interprets the law, such as a legal encyclopedia, a legal treatise, or an article in a law review.
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Constitutional Law
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The body of law derived from the U.S. Constitution and the constitutions of the various states.
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Statutory Law
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The body of law enacted by legislative bodies (as opposed to constitutional law, administrative law, or case law).
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Citation
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A reference to a publication in which a legal authority such as a statute or a court decision or other source can be found.
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Ordinance
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A regulation enacted by a city or county legislative body that becomes part of that state's statutory law.
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Uniform Law
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A model law created by the National Conference of Commissioners on Uniform State Laws and/or the American Law Institute for the states to consider adopting. Each state has the option of adopting or rejecting all or part of a uniform law. If a state adopts the law, it becomes statutory law in that state.
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Administrative Law
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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.
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Case Law
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The rules of law announced in court decisions. Case law includes the aggregate of reported cases that interpret judicial precedents, statutes, regulations, and constitutional provisions.
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Common Law
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The body of law developed from custom or judicial decisions in English and U.S. courts, not attributable to a legislature.
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Precedent
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A court decision that furnishes an example or authority for deciding subsequent cases involving identical or similar facts.
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Stare Decisis
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A common law doctrine under which judges are obligated to follow the precedents established in prior decisions.
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Binding Authority
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Any source of law that a court must follow when deciding a case. Binding authorities include constitutions, statutes, and regulations that govern the issue being decided, as well as court decisions that are controlling precedents within the jurisdiction.
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Persuasive Authority
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Any legal authority or source of law that a court may look to for guidance but on which it need not rely in making its decision. Persuasive authorities include cases from other jurisdictions and secondary sources of law.
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Remedy
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The relief given to an innocent party to enforce a right or compensate for the violation of a right.
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Equitable Principles and Maxims
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General propositions or principles of law that have to do with fairness (equity).
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Jurisprudence
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General propositions or principles of law that have to do with fairness (equity).
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Natural Law
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The belief that government and the legal system should reflect universal moral and ethical principles that are inherent in human nature. The natural law school is the oldest and one of the more significant schools of legal thought.
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Statute of Limitations
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A federal or state statute setting the maximum time period during which a certain action can be brought or certain rights enforced.
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Legal Positivism
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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.
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Historical School
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A school of legal thought that emphasizes the evolutionary process of law and looks to the past to discover what the principles of contemporary law should be.
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Legal Realism
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A school of legal thought of the 1920s and 1930s that generally advocated a less abstract and more realistic approach to the law, an approach that takes into account customary practices and the circumstances in which transactions take place. This school left a lasting imprint on American jurisprudence.
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Sociological School
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A school of legal thought that views the law as a tool for promoting justice in society.
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Substantive Law
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Law that defines, describes, regulates, and creates legal rights and obligations.
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Procedural Law
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Law that establishes the methods of enforcing the rights established by substantive law.
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Cyberlaw
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An informal term used to refer to all laws governing electronic communications and transactions, particularly those conducted via the Internet.
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Civil Law
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The branch of law dealing with the definition and enforcement of all private or public rights, as opposed to criminal matters.
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Civil Law System
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A system of law derived from that of the Roman Empire and based on a code rather than case law; the predominant system of law in the nations of continental Europe and the nations that were once their colonies.
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Criminal Law
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Law that defines and governs actions that constitute crimes. Generally, criminal law has to do with wrongful actions committed against society for which society demands redress.
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National Law
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Law that pertains to a particular nation (as opposed to international.
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International Law
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The law that governs relations among nations. National laws, customs, treaties, and international conferences and organizations are generally considered to be the most important sources of international law.
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Sources of American Law
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1. Constitutional law—The law as expressed in the U.S. Constitution and the various state constitutions. The U.S. Constitution is the supreme law of the land. State constitutions are supreme within state borders to the extent that they do not violate the U.S. Constitution or a federal law. 2. Statutory law—Laws or ordinances created by federal, state, and local legislatures and governing bodies. None of these laws can violate the U.S. Constitution or the relevant state constitutions. Uniform laws, when adopted by a state legislature, become statutory law in that state. 3. Administrative law—The rules, orders, and decisions of federal or state government administrative agencies. 4. Case law and common law doctrines—Judge-made law, including interpretations of constitutional provisions, of statutes enacted by legislatures, and of regulations created by administrative agencies. The common law—the doctrines and principles embodied in case law—governs all areas not covered by statutory law (or agency regulations issued to implement various statutes).
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The Common Law Tradition
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1. Constitutional law—The law as expressed in the U.S. Constitution and the various state constitutions. The U.S. Constitution is the supreme law of the land. State constitutions are supreme within state borders to the extent that they do not violate the U.S. Constitution or a federal law. 2. Statutory law—Laws or ordinances created by federal, state, and local legislatures and governing bodies. None of these laws can violate the U.S. Constitution or the relevant state constitutions. Uniform laws, when adopted by a state legislature, become statutory law in that state. 3. Administrative law—The rules, orders, and decisions of federal or state government administrative agencies. 4. Case law and common law doctrines—Judge-made law, including interpretations of constitutional provisions, of statutes enacted by legislatures, and of regulations created by administrative agencies. The common law the doctrines and principles embodied in case law governs all areas not covered by statutory law (or agency regulations issued to implement various statutes).
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Classifications of Laws
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The law may be broken down according to several classification systems, such as substantive or procedural law, federal or state law, and private or public law. Two broad classifications are civil and criminal law, and national and international law. Cyberlaw is not really a classification of law but a term that is used for the growing body of case law and statutory law that applies to Internet transactions.
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Amendment I
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Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.
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Amendment II
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A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.
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Amendment III
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No Soldier shall, in time of peace be quartered in any house, without the consent of the Owner, nor in time of war, but in a manner to be prescribed by law.
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Amendment IV
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The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
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Amendment V
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No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
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Amendment VI
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In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the Assistance of Counsel for his defence.
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Amendment VII
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In Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise re-examined in any Court of the United States, than according to the rules of the common law.
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Amendment VIII
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Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.
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Amendment IX
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The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people.
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Amendment X
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The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
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The Commerce Clause
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- Expressly permits Congress to regulate commerce. -Fed. gov. has the power to act when it comes to deciding issues that are between states.
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Regulatory Powers of the States
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Under their police powers, state governments may regulate private activities to protect or promote the public order, health, safety, morals, and general welfare.
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Violation to the Commerce Clause
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If state regulations substantially interfere with interstate commerce.
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Business and the Bill of Rights
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The Bill of Rights, which consists of the first ten amendments to the U.S. Constitution, was adopted in 1791 and embodies a series of protections for individuals, and in most cases, business entities, against types of interference by the federal government.
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Eminent Domain
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Action of the State to seize a citizens private property, nationalize property, or seize a citizen's rights in property with due monetary compensation, but without the owner's consent. The property is taken either for government use or by delegation to third parties who will devote it to public or civic use or, in some cases, economic development. The most common uses of property taken by eminent domain are for government buildings and other facilities, public utilities, highways, and railroads.
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GAP Test
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The difference between what you are doing and what you should be doing.
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E- Commerce
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Prevents frauds and scams. Try and settle upon an aribration before hand.
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The Supremecy Clause
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Who has the power? Fed. or State government
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Constitution
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Commerce Clause and Free Enterprise
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Sunshine Law
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Actions by gov. officials to be allow them to see what's going on
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Miranda Rights
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Only apply to those in custody and those being interrigated
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Supressed
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Excluted
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Warren Buffet
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Hire for character, train for skill
