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ch 4 business law
business law
| Term | Definition |
|---|---|
| State Power | board power, the power to tax, to own and operate businesses, and to take private property for public purposes by the power of eminent domain |
| Intrastate Commerce | economic activities that have no significant effect on commerce outside their own borders |
| Interstate Commerce | economic activities between states |
| Foreign Commerce | economic activities between countries |
| Exclusive Power | powers that only the national government wields, tariffs, dealings with international business, immigration, declare war, and maintain army |
| Expressly Permitted | written permission or contract |
| Implied Permission | unwritten, interpreted permission |
| Commerce Clause | gives the federal government the power to regulate commerce with foreign nations and among the several states, limits state's authority to interfere with interstate commerce. |
| State Action | government activity |
| Eminent Domain | the government forces private property holders to sell their land so it may be dedicated to public use. |
| Due Process Clause | prohibits the federal government from depriving any person “of life, liberty, or property, without due process of law”, or by not following fair procedures. |
| Substantive Due Process | protects people from arbitrary (random) or unreasonable governmental interference with their life, liberty, or property rights. |
| Equal Protection Clause | prohibits any state from arbitrarily discriminating against persons. |
| Rational Basis Analysis | courts use this when reviewing legislation restricting economic interests (property) or discriminating on the basis of non suspect classifications it presumes the regulation is constitutional. |
| Fundamental Right | liberties spelled out for protection in the Bill of Rights (speech, religion, association, right to vote, privacy) |
| Suspect Classifications | race or national origin that the government cannot discriminate against. |
| Strict Scrutiny | the statute is unconstitutional unless the government demonstrates that I t is pursuing a compelling governmental interest in the least intrusive manner. |
| Intermediate Scrutiny | lies between rational basis and strict scrutiny, used to evaluate restrictions on commercial speech or discrimination on the basis of certain suspect classifications (gender or a person’s illegitimate birth) |
| First Amendment | prohibits the government from abridging freedom of speech |
| Noncommercial Speech | known as pure or political speech, is the highest degree of constitutional protection, requires strict scrutiny |
| Commercial Speech | like advertising, only truthful commercial speech is protected by the first amendment |
| Chevron Doctorate | courts conduct a two part inquiry to determine whether to sustain an agency’s interpretation of the statutory scheme it is charged with administering. |
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