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BLACKWELL CHP1
BLACKWELL Chapter 1 Business Law--Our Laws
| Term | Definition |
|---|---|
| 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. |