LS311_Unit 1 Assignment - material facts must be decided in...

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LS311 Business Law I Unit One November 11, 2011 Describe the following terms in your own words. Be sure to use complete sentences and cite your sources of information. It is recommended that you use your textbook for this assignment. Common Law – Are basically legal rights that do not require formal registration in order to enforce them. Jurisdiction – Authority to operate within a certain territory to a particular geographic area containing defined legal authority. Precedent – is a rule that simply states that cases involved in the same essential or
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Unformatted text preview: material facts must be decided in the same way. • Statute – Basically sets forth general propositions of law that courts apply specific situations. • Remedy – When a right is enforced or satisfied by a court when harm or injury is recognized as a wrongful act. References: http://legal-dictionary.thefreedictionary.com http://www.findlaw.com Fundamental of Business law part I...
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