Domain 1: Legal and Regulatory Issues Flashcards
- Major legal system
- The distinguishing feature here is that precedents and certain case rulings do not carry any weight when it comes to new cases.
Civil law (legal system)
- Major legal system
- A significant emphasis is placed on particular cases and judicial precedents of the past when determining the outcome of current cases.
- Used in the U.S., Canada, U.K. and most former British colonies.
Common Law
- Laws in which the primary goal is to deter crime and punish offenders.
- Branch of law
Criminal law
- Laws that provide financial damages by a preponderance (more likely than not) of evidence.
- Branch of law
Civil law
- Injury (loosely defined) resulting from someone violating their responsibility to provide a duty of care.
- Branch of law
Tort Law
- Type of financial damage
- Damages prescribed by law, which can be awarded to the victim even if the victim incurred no actual loss or injury.
Statutory
- Type of financial damage
- Provides the victim with financial award in effort to compensate for the loss or injury incurred as a direct result of wrongdoing.
Compensatory
- Type of financial damage
- Damages typically awarded to discourage a egregious violation where compensatory or statutory damages alone would not act a deterrent.
Punitive
- Type of Law
- Government mandated regulations that ensure certain industries meet compliance.
Administrative law
Determines whether an organization is legally on the hook for specific actions or inactions.
Liability
Doing what a reasonable person would do in a given situation (aka “prudent man” rule)
Due care
Practicing the activities that maintain the due care effort
Due diligence
Not demonstrating due care resulting damages.
Gross negligence
Requires senior executives to take personal responsibility for ensuring the due care that ordinary, individuals would exercise in the same situation
Prudent man rule
- Type of evidence
- Consists of tangible or physical objects.
Real evidence
- Type of evidence
- Testimony provided by witnesses regarding what they actually experienced through their five senses.
Direct evidence
- Type of evidence
- Serves to establish the circumstances related to other evidence
Circumstantial evidence
- Type of evidence
- Provides additional support for a fact that might have been called into question.
Corroborative evidence
- Type of evidence
- Constitutes second-hand evidence. Typically indirect info relating to direct evidence.
Hearsay evidence
- Type of evidence
- Consists of copies of original documents and oral descriptions.
Secondary evidence
Courts prefer the best evidence possible. i.e. Original docs are preferred over copies, and conclusive tangible objects preferred over oral testimony
Best evidence rule
Documentation regarding who, what, when and where handled the evidence in question
Chain of custody
When someone is persuaded to commit a crime when the person otherwise had no intention to commit a crime.
Entrapment