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Ch 01 notes - Legal Heritage & the Information Age

Ch 01 notes - Legal Heritage & the Information Age -...

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Business Law Wednesday, Sept. 2, 2009 Ch. 1: Legal Heritage & the Information Age Functions of the Law (4) 1. Keeping the peace 2. Shaping moral standards 3. Promoting social justice 4. Maintaining the status quo 5. Facilitating orderly change (Note: #4+5 are used to prevent abrupt changes to be made to the system) 6. Facilitating planning 7. Providing a basis for compromise 95% of civil (non-criminal) cases never actually go to trial 8. Maximizing individual freedom English Common Law (11) Court Name Relief Provided Law courts Monetary award for damages Chancery (Equity) courts Remedies shaped to fit each situation Merchant courts Specialized in business Sources of Law (12) Branch Example Power Legislative Congress Power to make (enact) the law Executive President Power to enforce the law Judicial Courts Power to interpret & determine the validity of the law Treaties : A compact made between 2 nations. Codified Law 1. Federal & state statutes
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Unformatted text preview: : Written law enacted by the legislative branch. 2. Ordinances : Enacted by local government bodies (e.g. cities, municipalities, school districts). Executive orders : Issued by a member of the executive branch. Regulations & Orders of Administrative Agencies 1. Administrative agencies : May be created by the legislative & executive branches of both federal & state governments to enforce & interpret statutes. 2. Agencies are usually empowered to adopt administrative rules & regulations that have the force of law. 3. Their decisions are called orders . Judicial Decisions: Doctrine of Stare Decisis (“to stand by the decision”) 1 Business Law Wednesday, Sept. 2, 2009 Ch. 1: Legal Heritage & the Information Age 1. Past court decisions become precedent for deciding future cases 2. Lower courts must follow the precedent established by higher courts 2...
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  • Law, Business Law Ch., Branch Legislative Executive Judicial Example Congress President Courts Power Power, courts Merchant courts, Law courts Chancery

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