chapter 1 questions and case problems answers

chapter 1 questions and case problems answers - Na Ma BUAD...

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Na Ma BUAD 3043 Sep 6th, 2010 1. Laws enacted by legislative bodies at any level of government make up the body of law generally referred to as statutory law . When a legislature passes a statute, that statute ultimately is included in the federal code of laws or the relevant state code of laws. A federal statute applies to all states. A state statute, in contrast, applies only within the state’s borders. State laws thus may vary from state to state, and no state statute may violate the U.S. Constitution or the relevant state constitution. Common law is a body of general rules that applied throughout the entire English realm. Eventually, the common law tradition became part of the heritage of all nations that were once British colonies, including the United States. If statutory law conflicts with the common law, statutory law will govern. Because common law is based on past court decisions, and is not nearly as neat and tidy as statutory law. Common law doctrines and principles govern all areas not covered by
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This note was uploaded on 12/11/2010 for the course BUSINESS 506 taught by Professor Clarkson during the Spring '10 term at SUNY Canton.

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