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Business Law, pre study > Chapter 1 > Flashcards

Chapter 1 Flashcards

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1
Q

A source of law that establishes the law

A

Primary source

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2
Q

Name four primary sources of the law

A
  1. The U.S. and State Constitutions
  2. Statutory law
  3. Regulations created by administrative agencies
  4. Case law and common law doctrines
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3
Q

Sources of law that summarize and clarify the primary source of law

A

Secondary sources

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4
Q

Law as expressed in constitutions

A

Constitutional law

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5
Q

Laws enacted by legislative bodies at any level of government, such as statutes passed by congress or by state legislatures

A

Statutory Law

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6
Q

Regulations passed by municipal or county governing units to deal with matters not covered by federal or state law. Are considered statutory laws

A

Ordinances

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7
Q

The National Conference of Commissioners on Uniform State Laws (NCCUSL) works to draft uniform model statutes for states to adopt. What are thes statutes called?

A

Uniform laws

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8
Q

This is one of the most important uniform acts and designed to provide uniform, yet flexible, set of rules governing commercial transactions.

A

The Uniform Commercial Code (UCC)

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9
Q

These laws consists of rules, orders, and decisions of administrative agencies.

A

Administrative law

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10
Q

This is a federal, state, or local agency established to perform a specific function.

A

Administrative agency

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11
Q

These agencies are subject to the authority of the president and operate at the national level of the executive branch.

A

Executive agencies

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12
Q

A body of judge made laws announced in court by interpreting other primary sources of law.

A

Case law

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13
Q

A decision that furnishes an example of authority for deciding subsequent cases involving identical or similar legal principles or facts.

A

Precedent

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14
Q

Defendant

A

The party being sued or charged

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15
Q

Plaintiff

A

Party who is suing

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16
Q

Under this doctrine, judges are obligated to follow the precedents established within their jurisdictions.

A

stare decisis

17
Q

A source of law that a court must follow when deciding a case

A

binding authority

18
Q

legal authorities that a court may consult for guidance but are not binding on the court

A

persuasive authorities

19
Q

Deciding what law applies to a given dispute and then applying that law to the facts of circumstances of the case.

A

Legal reasoning

20
Q

What are the four steps of legal reasoning?

A
  1. Issue - What are the facts and issues
  2. Rule - What rule of law applies
  3. Application - How does the rule apply to this case
  4. Conclusion - What conclusion should be drawn
    IRAC
21
Q

A previously decided case as similar as possible to the one under investigation

A

Cases on point

22
Q

Term for the study of law

A

Jurisprudence

23
Q

The school of thought believing their is a higher law that applies to all humans and supersedes written law

A

Natural Law

24
Q

The school of though that no law is higher than national law is called

A

legal positivism

25
Q

The school of thought that emphasizes the evolutionary process of the law and it’s origins

A

Historical law

26
Q

School of thought that is based on the idea that law is just one of many institutions in society and it is shaped by social forces and needs

A

Legal realism

27
Q

Classification of law that consists of all laws that define, describe, regulate, or create legal rights.

A

Substantive law

28
Q

Classification of law that consist of all laws that outline the methods of enforcing the rights established by substantive law.

A

Procedural law

29
Q

Type of law the spells out th erights and duties that exists between persons and between persons and their governments

A

Civil Law

30
Q

Law that is concerned with wrongs against the public

A

Criminal law

31
Q

Party filing the lawsuit?
Party for whom the suit is against

A

Plaintiff or petitioner
Defendant or respondent

32
Q

Party appealing a case?
Party against whom the appeal is taken

A

Appellant
appellee

33
Q

This contains the courts reasons for it’s decision, the rule sof law that apply, and the judgement

A

Opinions

Business Law, pre study (34 decks)

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