Business Law Test 1

Business Law Test 1 - Business Law Test 1 Ch.1: Sample...

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Unformatted text preview: Business Law Test 1 Ch.1: Sample Court Case: citation, name of justice, background of the case, set out law that applies to the facts of the case, response to the plaintiffs argument, and court states its decision and gives its order. Legal Precedent: a legal case establishing a principle or rule that a court or other judicial body utilizes when deciding subsequent cases with similar issues or facts . Public Policy: the course of action or inaction taken by governmental entities with regard to a particular issue or set of issue. Stare Decisis: a common law doctrine under which judges are obligated to follow the precedents established in prior decisions. Common Law System: place great weight on court decisions, which are considered "law" with the same force of law as statutes Criminal Law: law that defines and governs actions that constitute crimes. Generally, criminal law has to do with wrongful actions committed against society demands redress. Civil Law: the branch of law dealing with the definition and enforcement of all private or public rights, as opposed to criminal matters. Common Law: the body of law developed from custom or judicial decisions in English and U.S. courts, not attributable to a legislature. Statutory Law: the body of law enacted by legislative bodies (as opposed to constitutional law, administrative law, or case law). It is multiple laws. Remedies of Equity and Law: refers to a branch of the law, founded in justice and fair dealing, that seeks to supply a fair and adequate remedy when no remedy is available at law. Sources of American Law: there are numerous sources of American law. Primary sources of law, or sources that establish the law, include the following: o The U.S. Constitution and the constitutions of the various states. o Statutes, or laws, passed by Congress and by state legislatures. o Regulations created by administrative agencies, such as the federal Food and Drug Administration. o Case law (court decisions).- Primary sources of law are a document that establishes the law on a particular issue, such as a constitution, a statute, an administrative rule, or a court decision.- Secondary sources of law are books and articles that summarize and clarify the primary sources of law. I t is a publication that summarizes or interprets the law, such as a legal encyclopedia, a legal treatise, or an article in law review.- Courts often refer to secondary sources of law for guidance in interpreting and applying the primary sources of law. Plaintiff/ Defendant: the plaintiff is the one who initiates a lawsuit. The defendant is the one against whom a lawsuit is brought; the accused person in a criminal proceeding....
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Business Law Test 1 - Business Law Test 1 Ch.1: Sample...

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