Business Law Unit 1

Question 1

What is law?

Answer 1

rules that are enforced in society, they reflect the culture/circumstances that create them

Question 2

code

Answer 2

organized laws

Question 3

How many stages of growth are there?

Answer 3

4

Question 4

What is the origin of our legal system?

Answer 4

English common law

Question 5

The King’s Courts

Answer 5

trusted English nobles that would travel in warm weather to listen to cases

Question 6

baron’s court

Answer 6

authority in local villages

Question 7

jury

Answer 7

citizens from the region who were called by the judge to help interpret customs of the region

Question 8

Advantages of English Common Law

Answer 8

ability to adapt to changes in society but strict adherence

Question 9

Sources of laws

Answer 9

Constitution - when constitutions are adapted or amended or when courts interpret constitutions, constitutional laws are made

Question 10

Allocation of power

Answer 10

between people and the govt - federal govt allocates people between people and their governments
between federal and state govt - allocates power between these two
between the branches of govt - state and federal constitutions allocate govt powers among the 3 branches of govt

Question 11

Statutes

Answer 11

laws elected by legislatures/federal & state (elected officials)

Question 12

Ordinances

Answer 12

enacted at the local level of government

Question 13

Administrative agencies

Answer 13

government bodies created by federal, state and local legislatures to carry out particular laws
- regulations are laws

Question 14

precedent

Answer 14

courts use prior cases as a guide for deciding similar cases

Question 15

equity

Answer 15

based on basic fairness

Question 16

injunction

Answer 16

a court order used to prevent damage

Question 17

torts

Answer 17

private wrongs against people or organizations, may occur when manufacturers make defective products from injure users

Question 18

unconstitutional

Answer 18

a law that is invalid because it conflicts with the constitution

Question 19

crime

Answer 19

an offense against society

Question 20

case law

Answer 20

law made after a trial ended and one of the parties has appealed the result to a higher court

Question 21

stare decisis

Answer 21

legal doctrine that requires lower courts to follow established case law in deciding similar cases

Question 22

What happens when laws conflict?

Answer 22

when laws conflicting legal rules for determining supremacy, the establish which law is valid and therefore should be enforced

Question 24

Constitutions and Validity

Answer 24

any state or local local that conflicts with the federal constitution are considered to be invalid or constitutional, upheld over a county of that same state’s constitution

Question 25

Procedural v. Substantive Laws

Answer 25

procedural law - law dealing w/
methods of enforcing legal rights and duties (how police can make arrests + what methods can be used)
0 2 types: criminal + civil procedural

Question 26

Substantive Laws

Answer 26

laws defining rights and duties of conduct (define offenses such as murder, theft, etc.)

Question 27

Business Law

Answer 27

laws that apply to business situations and transactions, applies to ALL people

Question 28

UCC (uniform commercial code)

Answer 28

created and offered to states to be bused in place of current statutes governing business law, could create uniformity + governs areas like sales of goods

Question 29

Statutes and Validity

Answer 29

statutes/ordinances must be constitutional to be valid, ordinance cannot exceed powers delegated to local government by the states

Question 30

Administrative Regulations and Validity

Answer 30

courts declare administrative regulations unconstitutional if they are considered to be outside the scope of power given to that agency

Question 31

Case Law and Validity

Answer 31

courts are not always the ultimate authority on the effects of a statute. A legislative body can nullify the courts interpretation of the statute or ordinance by abolishing it or rewriting it

Question 32

What are the main types of laws?

Answer 32

Criminal law - laws governing citizens’ rights to live in peace (investigate an offense)

Question 33

Civil Law

Answer 33

the group of laws that address laws against the individual persons… applies whenever one person has the right to sue another (police do not take action in civil conflicts)