Legal Chapters 1-4 Flashcards
What is the rule of law?
- Protects society
- Laws protect businesses (even ones we don’t necessarily approve of)
- laws are made generally equally applicable under rule of law
3 types of ownership fences
Public property-government
Private property-individuals and businesses
Common property-jointly owned or shared purchase
Property = ownership
Legal right that allows a person to exclude others from his/her resources
In broadest sense-includes ownership of individual, constitutional, and human rights
Exclusionary right of property
Provides a basis for the private market and modern business
Law
Rules that are established by the state (government) and backed up by enforcement
Judges
Vital role maintaining the rule of law
Decidee which law is applicable and who is “right” and “wrong”
All wealthy countries embrace the rule of law
Because businesses feel comfortable, can grow, feel safe and protected
Property rights- “intellectual property”
Trademarks, patents, and copywrights
Jurisprudence
Philosophies that explain origin of law and its justification.
-natural law-“do not steal, kill etc”
-positive law-no modification ex even if a two year old killed=jail
-historical law-keep historical traditions
Sociological-as society chang, law should change-“too many changes”
Legal realism-justice should be applied individually ex- 12 year old diminished mental capacity commits crime vs 12 drug dealer commits a crime
Classification of law
- common law and civil law
- public and private law
- civil law and criminal law
- substantive law and procedural law
Common law
Emphasizes the role of judges in determining the meaning of laws
**precedents
Civil law
Relies on legislation more than judicial decisions for law
Judges can have a new decision each time
They do refer to settled csases instead of precedents
Public law
Includes matters that involved the regulation of society (as opposed to individuals interacting)
- constitutional law
- administrative law-congress gives agenecies the power of law
- criminal law
Private law
Covers legal problems and issues that concern private resource relatioinships with other people
- property law- damgages
- contract law-business against business
- tort law-sue an individual
Civil cases
Includes suits for breach of contract or tort cases
Involve request for damages or appropriate relief