Ch.1 Key Terms

Ch.1 Key Terms - M anagement Chapter 1 Key Terms Civil Law...

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Management – Chapter 1 Key Terms Civil Law – law that provides remedies for individuals or entities that have been wronged by the other individual or entity. The primary purpose is reimbursement or restitution. Common Law – judges make many American laws through this system. The heart is the doctrine of stare decisis, which means that previously decided cases should be followed unless there is a good legal reason to change the previous decision. Constitutional Law – law that is stated by the Constitution of the United States. Considered the supreme law of the land (the constitution is the most important legal document in the United States). If any other laws are found to be unconstitutional they will not pass scrutiny of the courts. Criminal Law – designed to prevent crime by punishing criminals. Exclusively statutory in nature. A considerable amount of proof is needed to convict someone in a criminal suit. Dispute Resolution – one of the two roles law plays in business. The law gives people and business entities a forum to settle their differences whether it be through enforcement of contracts, recognition of private property, or some other legal issue. Equitable Action – taking action to promote equity in a decision (injunction.
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This note was uploaded on 10/02/2011 for the course MGMT 209 taught by Professor Swim during the Spring '08 term at Texas A&M.

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Ch.1 Key Terms - M anagement Chapter 1 Key Terms Civil Law...

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