GCC_Notes - Global Corporate Citizenship 8/30/2007 4:07:00...

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Global Corporate Citizenship 30/08/2007 16:07:00 August 28 Napoleonic Code – law that has been written down; used in France and the state  of Louisiana Common Law – law based on precedent Law is ever-evolving, ex. the internet Bill of Rights (1791) – written before they were needed to address potential  (future) issues Penumbra – five of the ten amendments in the Bill of Rights, the right to  privacy Rule of Law – law applies to everyone J.P. Morgan – The Rule of Law is “cornerstone of free trade” 2 types of Law Criminal – government is the plaintiff; offense done against the government o Ex: State of Maryland v. Thaler Plaintiff v. defendant Pi v. Delta o Guilt is beyond a reasonable doubt Civil – Private cause of action; two private individuals/entities o Guilty is “51 percent”
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October 2 Real Property     Most real property is owned through loans Secured loan – lower interest rate o Mortgage Lien on the house Foreclosure Bank gets to sell the house if the loan is not paid back. House is appraised at market value Equity = market value – loan(s) – costs Unsecured loan - Riskier, so higher interest rate o Credit Cards No direct link to the loan, such as your house Affects your credit report, which affects the rate at which you  can get a loan. If you don’t pay, you get a warning and rate rises You get sued, then your credit rating gets worse Zoning Laws Allows us to enjoy our properties more NYMBY-ism o Not In My BackYard
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Covenants – HOA (homeowner’s association) o Formed to restrict things done to homes. Variance o An exception to zoning laws o Have to apply and go through a process Fee Simple An entity can own property outright Tenants by the entireties (T by E) Spouses have joint ownership of property; only allowed for marriages When one spouse predeceases the other, the surviving spouse automatically  owns it. Private Nuisance
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This note was uploaded on 04/16/2008 for the course MGMT 201 taught by Professor Thaler during the Fall '06 term at American.

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GCC_Notes - Global Corporate Citizenship 8/30/2007 4:07:00...

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