intro_slides_Notes - Business Law I Law and the American...

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Unformatted text preview: Business Law I Law and the American Judicial System Fall, 2007 PowerPoint Slides Slide 1 What Is Law? h Establishes relationships between parties Defines rights and obligations Regulates conflicting interests Is usually prohibitory h Law v. equity h Substantive v. procedural law h Criminal v. civil law ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 2 Developed Law h Common law Judicial decisions create precedent Routinely adhering to precedents is the concept of stare decisis See Trombetta v. Conkling , Cases at 1. h Enacted law Constitutions Statutes Rules or regulations ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 3 The interplay between statutes and the common law h legislatures can change the common law by statute h legislatures can legislate the common law by statute h courts interpret statutes see State v. Blowers , Cases at 4. h do courts abandon precedent? see Gallagher v. St. Raymonds , Cases at 6. see Thyroff v. Nationwide Mutual Insurance Co ., Cases at 8. ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Business Law I...
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intro_slides_Notes - Business Law I Law and the American...

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