Business Law Notes

Business Law Notes - BusinessLawNotes 03:36 hapter1 C...

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Business Law Notes 03:36 Chapter 1     The Nature of Law     Separation of Power Constitution establishes a Congress and gives it power to legislate or make  law in certain areas, provide for the president whose function is to execute or  enforce the laws, and help create a federal judiciary to interpret the laws Federalism Allows the states power to make law in certain areas  Statues Statutes are laws created by elected representatives in Congress or a state  legislature o Some state statutes are originally drafted as uniform acts Uniform acts are model statutes drafted by private bodies of lawyers or  scholars. They don’t become law until they are enacted by legislature Common Law The common law is law made and applied by judges as they decide cases not  governed by statutes or other types of law o Common law only exists at the state level o Common law originated in medieval England and developed from the  decisions of judges in settling disputes Equity The body of law called equity historically concerned itself with accomplishing  “rough justice” when common law rules would produce unfair results. Equity courts began hearing cases that the common law courts couldn’t fairly  resolve Treaties According to the US Constitution, treaties made by the president with foreign  government and approved by 2/3 of the US Senate are “the supreme Law of  the Land” Ordinances
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State governments have subordinate units that exercise certain functions.  Some of these units, such as school districts, have limited powers. Others  such as counties, municipalities, and townships, exercise various  governmental functions. The enactments of counties and municipalities are  called ordinances Priority Rules Federal law defeats state law Constitution defeat other types of law within their domain When a treaty conflicts with a deferral statute over a domestic matter, the  measure that is later prevails Statutes defeat conflicting laws that depend on a legislative delegation for  their validity Statutes and any laws derived from them by delegation defeats inconsistent  common law rules Classification of Law o Criminal law is when the government prosecutes somebody for committing  a crime o Civil law mainly concerns obligations that private parties owe to each other o Substantive law sets the rights and duties of people as they act in society o Procedural law controls the behavior of government bodies as they  establish and enforce rules of substantive law Public and Private Law o Public law concerns the powers of government and the relations between 
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This note was uploaded on 03/04/2010 for the course BLAW 111 taught by Professor Pogson during the Fall '09 term at Binghamton.

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Business Law Notes - BusinessLawNotes 03:36 hapter1 C...

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