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Chapter 1

Chapter 1 Business LAw

TermDefinition
administrative regulations Rules created by government agencies that have the force of law.
case law Law established by court decisions rather than by statutes.
civil law Law dealing with disputes between individuals or organizations where compensation may be awarded.
common law Law based on judicial decisions and customs rather than written statutes.
constitution The supreme law of the land that establishes the structure of government and its powers.
criminal law Law that defines crimes and establishes punishments for violations against society.
duty A legal obligation to do or not do something.
equity A system of justice based on fairness that provides remedies other than monetary damages.
law A body of rules enforced by a controlling authority to regulate conduct.
precedent A prior court decision that guides future cases with similar facts.
private law Law that governs relationships between individuals or private entities.
procedural law Law that outlines the steps and processes for enforcing legal rights.
right A legal entitlement to act or be treated in a certain way.
right of privacy The right to be left alone and free from unwarranted public exposure.
stare decisis The doctrine that courts should follow previous judicial decisions when the same issues arise.
statutory law Law enacted by legislative bodies.
substantive law Law that defines rights, duties, and obligations.
Created by: user-2028502
 

 



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