Business LawChp1

Business LawChp1 - Business Law Chapter 1 THREE I MPORANT...

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Unformatted text preview: Business Law Chapter 1 THREE I MPORANT IDEAS ABOUT LAW Power- You will influence and be affected by the law Importance - Every society in historical record has some system of laws, naturally they vary enormously - Detailed written law comes from the Visigoths, 5 th and 6 th century AD- I roquois Native Americans played role in creation of our government o Solved problem of federalism: how to have 2 levels of government each with specified powers Influenced Ben Franklin in creation of Constitution with its power divided between state and Federal government Fascination- Alexis de Tocqueville - aristocrat traveler who observed qualities of democratic people in US. o Said any problem that arises that is not solved with ensue into a judicial question- Americans litigate and watch others do it, o Almost all states allow live broadcast of real t rials o Proponents urge that this increases awareness of social ills and reduces chance of judicial unfairness. ORIGINS OF OUR LAW- Law is not simple and cannot be that simple because it reflects the complexities of contemporary life- Principles and rules of law come from many sources o Because we inherited a complex structure from England. - Our nation was born in revolution and created to protect the rights of its people from the government. o Founding fathers wanted each state to maintain some power over important areas of our lives. o Founders also guaranteed many rights to the people alone, order state and national governments to keep clear from having those authorities. English Roots - England in 10 th century tiny population, very little law o King used primitive system of law had England divided into shires, and daily administration was carried out by shire reeve later called a sheriff - Reeve collected taxes and did what he could to keep peace, ie: apprehending criminals and acting as a mediator between feuding families 2 or 3 times a year the shire court met, lower courts met more often- Contemporary law mediation still lives on- Anglo Saxon created method of ensuring public order o Every freeman belonged to a group of 10 freemen known as a TITHING - headed by a TITHINGMAN. If anyone injured a person outside his tithing or interfered with Kings property, all 10 men could be forced to pay by law. - Contemporary Law: we still use the idea of collective responsibility - in business all partners are responsible for the mistake of one....
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Business LawChp1 - Business Law Chapter 1 THREE I MPORANT...

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