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Business Law 1
Chapter 1
| Term | Definition |
|---|---|
| Principles and rules of law come from | many different sources of law |
| Our law originated from | England |
| Laws were created to | protect the rights of its people from gov’t |
| Founding fathers created a national gov’t, but insisted | each individual state maintain control in many areas |
| England’s daily administration carried out by a “shire reeve” | Sheriff |
| “Tithingman” | business partnerships (All partners are personally responsible for the debts are the partnership) |
| Parties were represented by | clergyman, nobleman, or themselves |
| “Oath helpers”, usually 12 | modern jurors |
| Precedent | requires judges decide current cases based on previous rulings |
| Binding precedent | precedent that a court must follow |
| Persuasive precedent | precedent that a court is free to follow or ignore |
| Common Law | judge-made law |
| US Constitution | Supreme law of the land 1)establishes the national gov’t in the US with it’s 3 branches 2) creates a system of checks and balances among the branches 3) guarantees many basic rights to the American people |
| Legislative | gives the ability to create new laws |
| Art. I | gives the power to Congress (House & Senate) |
| House | 435 members; state’s voting power is based on population |
| Senate | 100 voting members (2 from each state) |
| Executive | authority to enforce laws |
| Art. II | establishes the pres. as the Commander in Chief of the Armed Forces |
| Judicial | gives the right to interpret laws and determine their validity |
| Art. III | places the Supreme Court at the head of the judicial branch |
| Checks and Balances | Allow one branch of the gov’t to trip up another |
| President and can _______ Congressional legislation | Veto |
| Congress can______the President | Impeach |
| The Supreme Court can_____laws passed by Congress | Void |
| Fundamental Rights | 1st: guarantees the rights of free speech, free press, and free of religion 4th: search and seizure 5th: against self-incrimination 6th: right to counsel |
| Statutes | Law created by legislative body |
| Common Law | Judges generally follow precedent |
| Stare decisis | let the decision stand |
| Precedent is only binding | on lower courts |
| Court Orders | Place binding obligations on specific people or companies |
| Administrative Law | Do the day-to-day work Created by Congress Have the power to create laws called regulations |
| Treaties | President makes these with foreign nations |
| Criminal | behavior so threatening that society outlaws it altogether |
| Civil | regulates the rights and duties between parties |
| Law and morality | Linked values that govern a society’s attitude toward right and wrong and toward good and evil serves as a guide for those bodies that make, interpret, and enforce the law |
| Jurisprudence | The philosophy of law |
| Sovereign | the recognized political power, whom citizens obey |
| Natural Law | Law must have a moral basis Good is to be done and promoted and evil is to be avoided |
| Legal Realism | it doesn’t matter what is written as law |
| Plaintiff | party who is suing |
| Defendant | party being sued |
Created by:
ksheek1
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