Chapter 1 Flashcards
A body of enforceable rules governing relationships among individuals and between individuals and their society.
Law
The state of being legally responsible for something such as a debt or obligation.
Liability
- ) Corportate MGMT,
- ) Production & Transportation,
- ) Marketing,
- ) Research & Development, 5.) Accounting & Finance,
- ) HRM
6 Functional Fields of Business
A document that establishes the law on a particular issue, such as a constitution, a statute, an administrative rule, or a court document.
Primary Source of Law
A publication that summarizes or interprets the law, such as a legal encyclopedia, legal treatise, or an article in a law review.
Secondary Source of Law
The body of law derived from the US constitution and the constitution of the various states.
Constitutional Law
The body of law enacted by legislative bodies.
Statutory Law
A reference to a publication in which a legal authority - such as a statute or a court decision can be found.
Citation
A regulation enacted by a city or county legislative body that becomes part of that state’s statutory law.
Ordinance
A model law developed by the national conference of commissioners on uniform state laws for the states to consider enacting into statute.
aka. Model statutes
Uniform Law
The rules of law announced in court decision. Case law interprets statutes, regulations, constitutional provisions, and other case law.
Case Law
The body of law developed from custom or judicial decisions in English and US courts not attributable to legislature.
Aka. a body of general rules that applied throughout the entire english realm.
Common Law
A court decision that furnishes an example or authority for deciding subsequent cases involving similar or identical facts.
Precedent
A common law doctrine under which judges are obligated to follow the precedents established in prior decisions.
Stare Decisis
Any source of law that a court must follow when deciding a case.
Binding Authority
Any legal authority or source of law that a court may look to for guidance but need not follow when making its decision.
Persuasive Authority
The relief given to an innocent party to enforce a right or compensate for the violation of a right.
Remedy
One who initiates a lawsuit.
Plaintiff
One against whom a lawsuit is brought or the accused person in a criminal proceeding.
Defendant
General propositions or principles of law that have to do with fairness (equity).
Equitable Principles and Maxims
An order to perform what was promised.
Specific Performance
Directing a party to do or refrain from doing a particular act.
Injunction
Cancellation of the contract.
Recission
The science or philosophy of law.
Jurisprudence
The oldest school or legal thought, based on the belief that the legal system should reflect universal / higher moral and ethical principles that are inherent in human nature.
Natural Law
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.
Legal Positivism
A school of law that looks to the past to determine what the principles of contemporary law should be.
Historical School
A school of legal thought that holds that the law is only one factor to be considered when deciding cases and that social and economic circumstances should also be taken into account.
Legal Realism
Law that defines, describes, regulates, and creates legal rights and obligations.
Substantive Law
Law that establishes the methods of enforcing the rights established by substantive law.
Procedural Law
An informal term used to refer to all laws governing electronic communications and transactions, particularly those conducted via the internet.
Cyber Law
The branch of law dealing with the definition and enforcement of all private or public rights, as opposed to criminal matters.
Civil Law
A system of law derived from Roman Law that is based on codified laws (written code of laws) rather than on case precedents.
Civil Law System
The branch of law that defines and punishes wrongful actions committed against the public.
Criminal Law
Law that pertains to a particular nation as opposed to international law.
National Law
The law that governs relations among nations.
International Law
A court opinion that represents the views of the majority (more than half) of the judges or justices deciding the case.
Majority Opinion
A court opinion by one or more judges or justices who agree with the majority but want to make or emphasize a point that was not made or emphasized in the majority’s opinion.
Concurring Opinion
A court opinion that presents the views of one or more judges or justices who disagree with the majority decision.
Dissenting Opinion
A court opinion that is joined by the largest number of the judges or justices hearing the case, but less than half of the total number.
Plurality Opinion
A court opinion that does not indicate which judge or justice authored the opinion.
Per Curciam Opinion
