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Business Law Ch 2

Business Law with UCC Applications Ch 2

QuestionAnswer
Administrative Law The body of law, including decrees and legal decisions, generated by administrative agencies.
Articles of Confederation The first constitution of the United States; replaced by the U.S. Constitution in 1787.
Binding Precedent A previous cause that a particular court must follow.
Code of Federal Regulations (CFR) Annual listing of finalized federal rules and regulations.
Common Law The body of recorded decisions that courts refer to and rely upon when making legal decisions.
Constitution The basic law of a nation or state.
Constitutional Law That body of law that involves a constitution and its interpretation.
Devolution When courts redefine a right and transfer the power and the obligation to enforce that right from a higher legal authority to a lower one.
E-Commerce Involves transacting business by any one of several types of electronic communication, from debit card purchases to buying and selling goods on the Internet.
Embedded Niches Levels of influence within a complex adaptive system.
Federal Register Publication that produces a daily compilation of new regulations issued by federal administrative agencies.
Judicial Review The process by which the court determines the constitutionality of various legislative statutes, administrative regulations, and executive actions.
Law A set of rules created by the governing body of a society to maintain harmony, stability, and justice in that society.
Preemption The process by which the courts decide that a federal statute must take precedence over a state statute.
Persuasive Precedent A previous case that a court is free to follow or to ignore.
Precedent A model case that a court can follow when facing a similar situation.
Statutes A law passed by a legislature.
Statutory Interpretation The process by which courts analyze aspects of a statute that are unclear or ambiguous or that were not anticipated at the time the time the legislature passed the statute.
Titles The right of ownership to goods. Also, a subdivision of a code containing all the statutes that deal with a particular area of law.
Uniform Commercial Code (UCC) A unified set of statutes designated to govern almost all commercial transactions.
Code A compilation of all the statutes of a particular state of the federal government.
Cyber-Commerce Involves transacting business by any one of the several types of electronic communication, from debit card purchases to buying and selling goods on the Internet.
Created by: dengler
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