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Business Law Ch 1.3
Business Law Class Notes
| Question | Answer |
|---|---|
| DEFENDANT | One against whom a lawsuit is brought; the accused person in a criminal proceeding. |
| DEFENSE | Reasons that a defendant offers in an action or suite as to why the plaintiff should not obtain what he or she is seeking. |
| EQUITABLE MAXIMS | General propositions or principals of law that have to do with fairness (equity). |
| EXECUTIVE AGENCY | An administrative agency within the executive branch of government. At the federal level, executive agencies are those within the cabinet departments. |
| HISTORICAL SCHOOL | A school of legal thought that emphasizes the evolutionary process of law and that looks to the past to discover what the principles of contemporary law should be. |
| INDEPENDENT REGULATORY AGENCY | An administrative agency that is not considered part of the government's executive branch and is not subject to the authority of the president. Independent agency officials can not be removed without cause. |
| JURISPRUDENCE | The science or philosophy of law. |
| LACHES | 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. |
| LAW | A body of enforceable rules governing relationships among individuals and between individuals and their society. |
| LEGAL REALISM | A school of legal thought that was popular in the 1920 and 1930s and that challenged many existing jurisprudential assumptions, particularly the assumption that subjective elements play no part in judicial reasoning. |
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