Business Law 2131

Business Law 2131 - Term Definition law A body of rules of...

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Term: law Definition: A body of rules of conduct with legal force and effect, prescribed by the controlling authority (the government) of a society. Term: lawsuit Definition: A judicial proceeding for the resolution of a dispute between parties in which rights are enforced or protected, wrongs are prevented or redressed, or public offenses are prosecuted. Also referred to as a suit. Term: breach Definition: The failure to perform a legal obligation. Term: common law Definition: That body of law developed from custom or judicial decisions in English and U.S. courts, not attributable to a legislature.
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Term: case Definition: A judicial proceeding for the determination of a dispute between parties in which rights are enforced or protected, wrongs are prevented or redressed, or public offenses are prosecuted. The term can refer to a civil proceeding or a criminal proceeding. Term: precedent Definition: A court decision that furnishes an example or authority for deciding subsequent cases in which identical or similar facts are presented. Term: stare decisis
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