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BLACKWELL CHP1

BLACKWELL Chapter 1 Business Law--Our Laws

TermDefinition
laws Enforceable rules of conduct in a society.
code Laws that are grouped into an organized form.
common law Laws based on the current standards and/or customs of the governed.
jurisdiction The power or authority of a court to decide a case.
equity Basic fairness.
constitutional law Law established as part of an organizational charter/document of a government entity.
statute County, state, or federal-level law enacted by an elected, legislative body.
ordinance Law enacted by a local town or village legislative body.
case law Law established as the result of decisions rendered by the judicial branch of government.
stare decisis Doctrine/policy requiring lower courts to follow existing case law in deciding similar cases.
administrative law Law established as the result of the actions or decisions of a specialized governmental agency.
unconstitutional Inconsistent with or contradictory to an established constitution.
civil law Laws that define & provide remedies for private wrongs against individuals.
criminal law Laws that define & set punishments for public offenses against society.
crime A public wrong inflicted upon society.
procedural law Laws that define the methods for enforcing legal rights & duties.
substantive law Laws tht define rights & duties.
business law Rules of conduct & enforcement related to the conduct of commercial transactions.
tort A private wrong inflicted upon an individual.
administrative agency An appointed body of "experts" with specialized knowledge of & jurisdiction over specific government functions.
Created by: Knightcoach53