Business Law-Chapter 1 (Foundation/Origin of Law)

enforceable rule of conduct in a society

Babylonian ruler famous for his code of laws

law based on current standards or customs of the people

law dictated from a central authority

the power to decide a case

chosen citizens to help interpret customs for the court

courts use prior cases as a guide for deciding similar new cases; provides stability in law

a judicial remedy issued in order to prohibit a party from doing or continuing to do a certain activity

a document that sets forth the framework of a government and its relationship to the people it governs

law that involves the interpretation and application of the U.S. Constitution and state constitutions

trade between two or more states

commerce occurring within one state which cannot be regulated by the federal government

law enacted by a state or federal legislature

laws enacted by local government bodies such as cities and counties

laws enacted when an appellate court endorses a rule to be used in deciding court cases

Latin term for “Let the decision stand”; decisions are based on precedents from previous cases

the body of rules and regulations and orders and decisions created by administrative agencies of government

federal or state institutions created by Congress or state legislatures with delegated power to pass rules and regulations within its area of authority (i.e. Social Security Administration)

the strongest laws of the nation–the Constitution

law concerned with private wrongs against individuals

law concerned with public wrongs against society

rules for enforcement of legal rights and duties

rules that define legal rights and duties

rules that apply to business situations and transactions

widely adopted business codes

practice of deciding what is right or wrong in a reasonable, impartial manner

refusal to obey unjust laws; open, peaceful, violations of unjust laws

the term used to define written laws enacted by a legislative body (i.e. a state Congress)