StudentNotesPartIIofChapter1

StudentNotesPartIIofChapter1 - Business Law: The Nature of...

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Business Law: The Nature of Law Lecture Notes (S.Spencer) (Chapter 1 continued) CLASSIFICATIONS OF LAW 1. Criminal vs. Civil 2. Substantive vs. Procedural 3. Public vs. Private Criminal vs. Civil Law CRIMINAL Concerns behavior so threatening that society outlaws it altogether. Breach of Duty to society at large Society via gov’t employees (prosecutors) brings court action against violators Punishment by fine and/or imprisonment If fined, $ generally goes to state (NOT victim) CIVIL Regulates the rights and duties between parties Private duty owed by one person (or corporation) to another. Suit must be brought by person wronged money damages awarded to make person “whole . Exception : Outrageous behavior by wrongdoer could result in Punitive damages being awarded. Page 1 of 7
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Business Law: The Nature of Law Lecture Notes (S.Spencer) (Chapter 1 continued) Criminal vs. Civil Law Criminal Case Civil Case Elements Intentional violation of a statute Harm to another person or property (tort), or breach of a contract Actors Prosecutor v. Defendant (gov’t v. accused) Plaintiff v. Defendant (wronged party v . wrongdoer Punishment Fines, imprisonment, execution Defendant may have to pay Plaintiff compensator y and punitive damages. Page 2 of 7
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Business Law: The Nature of Law Lecture Notes (S.Spencer) (Chapter 1 continued) Substantive vs. Procedural Law SUBSTANTIVE LAW Defines the rights of people governing people Duties: typically resemble commands to “Do this” or “Don’t do that”. PROCEDURAL LAW Establishes the processes for settling disputes. Establishes the rules under which the substantive rules of law are enforced E.g., Rules specifying the types of cases a particular court can decide Rules regarding how a trial is conducted Rules that stipulate how a judgment
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StudentNotesPartIIofChapter1 - Business Law: The Nature of...

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