Business Law- Quiz 1

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What do legal systems do?
evolve to encourage and promote stability and order in a society and to give effect to public policy
Who is the law in interest of?
Everyone
What does the law involve?
political, religious, social and/or economic questions
Who is the law resolved by?
Courts
What are laws?
body of enforceable rules which govern relationships among and between individuals, groups and society;
the rules, foundation and principles used by courts to decide controversies (Whether someone can take advatange or not)
What are the groups of laws?
legislative laws (or acts); judicial pronouncements; and procedural law
Legislative acts and judicial pronouncements are examples of
Substantive law
Substantive laws..
affect the rights and responsibilities of individuals and businesses (laws that protect citizens; warrents, car getting hit) create rights, duties and privileges consistent with public policy at the time of enactment
What are Judicial pronouncements?
legal statements made by courts in resolving cases; different interpretations
Procedural law
(when the suit actually takes place) “procedure” a step further from substantive laws; concerned with how laws are handled; procedures for resolving disputes between litigants (clients); allow institutions to control their internal functions
Business Law..
legal and ethical concepts in business and in everyday life and the vocabulary which is used in legal discussions
English Common Law System
Foundation of federal and state law systems and modern systems not covered by Common Law
What is the force behind law and how it can change?
Public policy
Public law
Constitutional Law; Administrative Law; and Criminal Law
Public law involves cases or controversies involving a sovereign body (city, government, etc.) as a party or as the administrator of a legal process
(We sue govt; govt sues us)
Private law
person suing person; injured seeks refutation ; blurry at times; derived from CL
Court Decisions
rules and analytical methods by judges become law (England)
Roman law
Europe; Written down laws; Codified (Written) citizens can go look up laws unlike CL where we have attorneys, judges, etc to tell us law
Constitutional principles
1) .Each state has constitution then theres a federal constitution for all 50 states
2). Must follow the US constitution or the fed or state laws will be void
3). State must be consistent with state constitution
What prevails over CL
Constitutions prevail over statutes; statutes prevail over judicial decisions (common law)
Seperation of powers
Vertical: the federal government has limited authority to interfere in state matters (vertical);
the branches of government have separate functions and one branch may not exercise the powers committed to another branch of government (horizontal)
Ex. fed cannot come into casino and tell them how to run.. that is state
judicial review
the power of the judiciary to review the actions of the other branches and to set them aside if in violation of the Constitution
Codes and ordinances
Codes are legislative actions that are state or federal
Ordinances are municiple (town courts)
Intrerpretation of legislation
Until courts have spoken; no one is wrong
How are laws interpreted?
criminal and taxing laws are narrowly construed; remedial statues (provide someone a remedy) are construed broadly

Idea is that the party that caused the injury deserves to pay
Remedial means someone has been injured; want to make sure that person gets recovered or made as “whole” as possible

Uniform state laws
unofficial set of laws proposed for all states to adopt ; more uniformity
Precedent
Cl courts are bound by this; seen in more supreme courts
Problems in case law?
Most people do not know the law at the offical time
Rejection of precedent
May overrule if court finds precedent to be wrong
Conflict of laws
Having more contact with more than one state; State laws and precedents are specific to each State
Jurisprudence
Different approaches to thinking about the Law, as a philosophical system, exist
Natural law
a system of ethics and morals inherent in human nature; is there a higher legal authority than the state?

God;Constitution

legal positivism
Only rights we have are the rights mentioned in constitution
If constitution states “we have no right to privacy,” that would be the law
historical law
views history and evolution as law

Ex. Our laws have evolved because we do not hang people anymore

LEGAL REALISM
the development of the law is shaped by social and technological forces
In order to remain relevant and current, the law has to change
Ex. Fingerprint technology helped evidence in courts
remedy
oder of court usually plaiff seeking right or privilege; can be legal or equitable
Damages
physical rememdys
Equity
fAIR DEALING AND JUSTICE cannot be paid for; injustions, decrees, contrcts ,etc
who can overrule precendents?
Legislators
trial vs appellate
Trial judges study witnesses and use their experience to prepare for their decisions (testifying sincerely; are they credible?) ; appellate judges or justices study briefs (document written to sway the judges to a particular liniment), the trial record and evaluate oral arguments (if any) to reach their decisions and craft their opinions
Bench trial
Report to jury; better chance sometimes with peers
Voir Dire
looking for bias amongst your jury
Categories: Business Law