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Unformatted text preview: Chapter One: The Legal and Constitutional Environment of Business Click on the Legal Systems link to view the Timeline for both Federal and State Legal Systems . (Be sure to use the scroll bar on the right side of the timeline.) Many of you may know that the law in our country is based on the English common law. Your text provides some interesting background information about the common law. We also need to recognize the important concept of stare decisis . Precedent , how prior courts have ruled, is very relevant in our legal system. In addition to the common law , or case law , there are many written laws. Of course, the Constitution is the paramount law. Since our focus in this course is on business law we need to understand the Commerce Clause of the Constitution and how it affects trade. You will read about several important cases in the text and about how courts have ruled on the power...
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This note was uploaded on 01/30/2011 for the course ECO 218 taught by Professor Dr.rhibidaoud during the Spring '10 term at Sinclair CC.
- Spring '10