First Test Prep
1. Understand what is meant by "rule of law" and how it is important to business. Know the various sources of law and which governmental branch creates them. Know the major classifications of the law and the differences between them. 2. Know the differences between criminal law and civil law in terms of: the general purposes of each system, the parties involved in a case, the burden of proof in each type of case and the party who carries that burden, possible outcomes at trial, and the consequences to the party responsible for the wrongful act. 3. Be able to name and recognize the four (4) theories of jurisprudence. 4. Be sure to understand: a) the two formulations of Kant's categorical imperative - Formula #1 - Universalizability and Formula #2 - Humanity; b) Utilitarianism - both Act Utilitarianism and Rule Utilitarianism; and c) Social Contract Theory. 5. Describe the court system at both the state and federal levels. In what three (3) circumstances can a lawsuit be initiated in federal court? What are the types of cases that the U.S. Supreme Court will hear? 6. What is necessary in order to bring a lawsuit and what must the court have in order to hear the case? 7. Understand civil procedure required in the litigation process - notice, pleadings, motions, discovery, jury selection, phases of trial, appeal, and execution. 8. What three (3) methods are available to parties who have a dispute, but do not want to litigate? What are the pros and cons of each method? Be able to explain, BATNA, WATNA, bargaining power, bargaining zone, and reservation point. 9. Understand due process before, during and after trial. Know criminal procedures from arrest to sentencing. 10. Know the classification of crimes and the various types of blue-collar and white-collar crimes and those that businesses may encounter.
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