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Business Law > Chapter 1: Law and Legal Reasoning > Flashcards

Chapter 1: Law and Legal Reasoning Flashcards

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1
Q

What are the primary sources of American law?

A
  1. The U.S. Constitution and the constitutions of the various states
  2. Statutory law– including laws passed by Congress, state legislatures, or local governing bodies
  3. Regulations created by administrative agencies (such as the Federal Trade Commission)
  4. Case law and common law doctrines
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2
Q

sources that establish the law

A

primary sources of law

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3
Q

books and articles that summarize and clarify the primary sources of law

A

secondary sources of law

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4
Q

What is Constitutional Law?

A
  • law that is based on the U.S. constitution and the constitutions of of the various states.
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5
Q

What is the Supreme Law of the Land? What is the basis of all law in the United States?

A

The U.S. Constitution

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6
Q

What does the 10th Amendment do?

A

It reserves to the states all powers not granted to the federal government.

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7
Q

the body of law enacted by legislative bodies

A

statutory law

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8
Q

When a legislature passes a statute, the statute ultimately is included in:

A

the federal code of laws or the relevant state code of laws

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9
Q

a law passed by a local governing unit, such as a city or a county

A

ordinances

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10
Q

What is the difference between a federal statute and a state statute?

A

Federal statute applies to all states; state statute only applies within the state’s borders.

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11
Q

What makes state laws vary from state to state?

A

State Statutes

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12
Q

What does the National Conference of Commissioners on Uniform State Laws (NCCUSL) do?

A

Its object is to draft uniform laws (model statutes) for the states to consider adopting.

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13
Q

If a state accepts a uniform law, what does it become?

A

It becomes a statutory law in that state

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14
Q

Who’s decision is it to decide if they want to adopt or reject all or part of a uniform law?

A

The states

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15
Q

What was the most ambitious uniform act of all?

A

The Uniform Commercial Code

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16
Q

Who created the Uniform Commercial Code?

A

The NCCUSL and the American Law Institute

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17
Q

What does the Uniform Commercial Code (UCC) facilitate?

A

commerce among the states by providing a uniform, yet flexible, set of rules governing commercial transactions.

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18
Q

the body of law created by administrative agencies in order to carry out their duties and responsibilities:

A

administrative law

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19
Q

a federal or state government agency created by the legislature to perform a specific function, such as to make and enforce rules pertaining to the environment

A

administrative agencies

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20
Q

an administrative agency within the executive branch of government (within the cabinet departments)

A

executive agencies

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21
Q

Who has the power to appoint and remove EXECUTIVE agencies’ officers?

A

The president (they are subject to the authority of the president)

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22
Q

What is an example of an executive agency?

A

The U.S. Food and Drug Administration is an agency within the U.S. Department of Health and Human Services

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23
Q

an administrative agency that is not considered to be part of the government’s executive branch and is not subject to the authority of the president.

A

independent regulatory agencies

24
Q

Independent agency officials cannot be removed without _______.

A

just cause

25
Q

How is the president’s power in regards to independent regulatory agencies?

A

His power is less pronounced; the officers of independent regulatory agencies serve for FIXED TERMS and cannot be removed without just cause .

26
Q

Why did states adopt the English Common Law as their own?

A

Because they were comfortable with the common law

27
Q

What date was the English Common Law effective in each state?

A

The date they joined the Union

28
Q

What is the effect of different adoption dates of the English Common Law?

A

The law is slightly different from state to state

29
Q

Did the Federal Government adopt the Common Law?

A

No, we say there is no federal government concerning common law.

30
Q

the rules of law announced in court decisions (judge-made law)

A

case law

31
Q

the body of law developed from custom or judicial decisions in English and U.S. Courts, not attributable to legislature

A

common law

32
Q

What type of remedies did the courts of law in England grant?

A
  1. land
  2. items of value
  3. money
33
Q

Today, the remedy at law normally takes the form of __________ ________.

A

monetary damages

34
Q

a court that decides controversies and administers justice according to the rules, principles, and precedents of fairness

A

courts of equity

35
Q

What are the remedies in equity?

A

specific performance, injunction, rescission

36
Q

ordering a party to perform an agreement as promised

A

specific performance

37
Q

an order to a party to cease engaging in a specific activity or to undo some wrong or injury

A

injunction

38
Q

the cancellation of a contractual obligation

A

rescission

39
Q

the equitable doctrine that bars a party’s right to legal action if the party has neglected for an unreasonable length of time to act on his or her rights

A

the doctrine of laches

40
Q

a federal or state statute setting the maximum time period which a certain action can be brought or certain rights enforced

A

statutes of limitations

41
Q

a court decision that furnishes an example or authority for deciding subsequent cases involving identical or similar facts

A

precedent

42
Q

a publication in which court cases are published, or reported

A

reporters

43
Q

a common law doctrine under which judges are obligated to follow the precedents established in prior decisions within their jurisdictions

A

stare decisis

44
Q

What are the two aspects of Stare Decisis?

A
  1. A court shouldn’t overturn its own precedents unless there is a compelling reason to do so.
  2. Decisions made by a higher court are binding on lower courts.
45
Q

cases for which no precedents exist

A

cases of first impression

46
Q

any legal authority or source of law that a court may look to for guidance but need not follow when making its decision

A

persuasive authorities

47
Q

the process of evaluating how various laws apply to a given situation; the process by which a judge harmonizes his/her opinion with the judicial decisions in previous cases

A

legal reasoning

48
Q

law that defines, describes, regulates and creates legal rights and obligations

A

substantive law

49
Q

law that establishes the methods of enforcing the rights established by substantive law

A

procedural law

50
Q

branch of law dealing with the definition and enforcement of all private or public rights

A

civil law

51
Q

branch of law that defines and punishes wrongful actions committed against the public

A

criminal law

52
Q

T/F: The common law is a body of law developed from judicial decisions.

A

True

53
Q

T/F: The basis of a civil law system is a written code of laws.

A

True

54
Q

On a challenge to a provision in a state constitution that conflicts with a provision in the U.S. Constitution:

A

the state provision will not be enforced

55
Q

An award of damages is:

A

a payment of money or property

56
Q

What is the most important function of the law for business?

A

Facilitating Planning

57
Q

Who is the Father of Common Law?

A

King Williams the I

Business Law (3 decks)

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