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business law

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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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  
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Intrastate Commerce   economic activities that have no significant effect on commerce outside their own borders  
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Interstate Commerce   economic activities between states  
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Foreign Commerce   economic activities between countries  
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Exclusive Power   powers that only the national government wields, tariffs, dealings with international business, immigration, declare war, and maintain army  
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Expressly Permitted   written permission or contract  
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Implied Permission   unwritten, interpreted permission  
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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.  
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State Action   government activity  
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Eminent Domain   the government forces private property holders to sell their land so it may be dedicated to public use.  
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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.  
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Substantive Due Process   protects people from arbitrary (random) or unreasonable governmental interference with their life, liberty, or property rights.  
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Equal Protection Clause   prohibits any state from arbitrarily discriminating against persons.  
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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.  
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Fundamental Right   liberties spelled out for protection in the Bill of Rights (speech, religion, association, right to vote, privacy)  
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Suspect Classifications   race or national origin that the government cannot discriminate against.  
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Strict Scrutiny   the statute is unconstitutional unless the government demonstrates that I t is pursuing a compelling governmental interest in the least intrusive manner.  
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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)  
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First Amendment   prohibits the government from abridging freedom of speech  
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Noncommercial Speech   known as pure or political speech, is the highest degree of constitutional protection, requires strict scrutiny  
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Commercial Speech   like advertising, only truthful commercial speech is protected by the first amendment  
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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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