Business Law Study Guide- Quizzes - Quiz 1(1 Explain the...

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Quiz 1 (1) Explain the four schools of jurisprudential though a. Natural law – a system of morals and ethics that are inherit to every human being (natural rights) b. Positivist school – follows positive law, or laws of a certain place. National law c. Historical School – focuses on the origin of the law, likely to look back at other cases for decision d. Legal realism – is based on the idea that law is one of many institutions that is shaped by social forces and needs (2) Four primary sources of American Law a. The US constitution and state constitutions b. Statutory law – passed by Congress, state legislators ect c. Regulations made by administrative agencies d. Case law and common law (3) Case law vs. common law a. Case law = judge made law, judges make decisions which serve as precedents for other cases b. Common law – is a body of general rules that is applied throughout an entire land or country (4) Civil vs. Cr a. Civil law – concerned with laws that exist between people, citizens, and their government b. Criminal law – concerned with wrongs committed against the public as a whole (5) Difference between appellant and appellee a. Appellant – the party appealing the case from another jurisdiction b. Appellee- the party against whom the appeal is taken Quiz 2 (1) What are business ethics a. Rights and wrongs in the business world that are derived from ethical/moral issues
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(2) Why are business ethics important? a.
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This note was uploaded on 10/17/2010 for the course BUSINESS L 3540 taught by Professor Angstead during the Spring '10 term at Missouri State University-Springfield.

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Business Law Study Guide- Quizzes - Quiz 1(1 Explain the...

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