Chapter 1 Flashcards
Constitutional law
Law expressed in US and state constitutions. U.S. Constitution is the supreme law of the land according to article VI of the U.S. Const. As such is the basis of all law in the US
Laws enacted by legislative body’s at any level of government, make up what is known as
Statutory Law
Ordinances
Also included under statutory law, statutes passed by municipal or county governing units to govern matters not covered by federal or state law
NCCUSL
National conference of commissioners on uniform state laws
Uniform laws
A model law created by the NCCUSL and the American law institute for the states to consider adopting. If the state adopts the law it becomes statutory law for the state. Each state has option of adopting or rejecting all or part of a uniform law
Administrative law
Rules orders and decisions of administrative agencies
A federal, state or local government agency established to preform a specific function. Dictate a businesses capital structure and financing, it’s hiring and firing procedures, it relations with employees and unions, and the way it manufactures and markets its products
Administrative agencies
Agencies that are subject to the authority of the president who has the power to appoint and remove their officers. Ex: food and drug administration
Executive agencies
Independent regulatory agencies
Federal trade commission, securities and exchange commission, and Federal Communications Commission. Presidents power is less pronounced in independent agencies who’s officers serve for fixed terms
Case law
Body of judge made law, the rules announced in court decisions. Rules include interpretations of constitutional provisions of statutes enacted by legislature and of regulations created by administrative agencies governs all areas not covered by statutory law, administrative law and is part of common law tradition
Common law
A body of general rules that applied throughout the entire English realm. Eventually common law tradition became part of the U.S. Tradition
Remedy at law
Today remedy at law normally takes the form of monetary damages Originally it was Land Items of value Money
Remedies in equity
Specific performance
Injunction
Rescission
Specific performance
Ordering a party to preform an agreement as promised
Injunction
An order to a party to cease engaging in a specific activity or to undo some wrong or injury
Rescission
The cancellation of a contractual agreement
Propositions or general statements of equitable rules
Equitable maxims