Business Law Ch. 1

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Law

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Consists of enforceable rules governing relationships among individuals and between individuals and their society.

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Natural Law School

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One of the oldest and most significant schools of legal thought. Those who believe in _law hold that there is a universal law applicable to all human beings. This law is discoverable through reason and is of a higher order than positive law.

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Sources of Law

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1. The U.S. Constitution and the constitutions of the various states.
2. Statutory law - including laws passed by Congress, state legislatures, or local governing bodies.
3. Regulations created by the Food and Drug Administration
4. Case law and common law doctrines

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Branches of Government

Back 4

Executive, Legislative, and Judicical

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Critical Thinking

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Is reflective reasoning about beliefs and actions. It is a way of deciding whether a claim is always true, sometimes true, partly true, or false.

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Deductive Reasoning

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Process of a lot of information, and deducing it to the important information.

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Plaintiff

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The Suing Party

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Defendant

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The party being sued

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Constitutional Law

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The law as expressed in the U.S. Constitution and the state constitution is the supreme law of the land. State constitutions are supreme within state borders to the extent that they do not violate a clause of the U.S. constitution or a federal law.

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Common Law

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The American legal system is based on the __ tradition, which originated in medieval England. Following the conquest of England in 1066 by William the Conqueror, king's courts were established throughout England, and the _ was developed in these courts. A body of general rules that applies throughout the entire English realm.

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Civil Law

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Spells out the right and duties that exist between persons and their governments, as well as the relief available when a person's rights are violated.

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Criminal Law

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Is concerned with with wrongs committed against the public as a whole. _ acts are defined and are prohibited by local, state, or federal government statutes.

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Administrative Law

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The rules, orders, and decisions of federal, state, or local government administrative agencies.

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Precedent

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A decision that furnished an example or authority for deciding subsequent cases involving identical or similar legal principles or facts.

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Statutory Law

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Law enacted by the federal, state, and local legislatures and governing bodies. None of these laws may violate the U.S. Constitution or the relevant state constitution. Uniform laws, when adopted by a state, become _ in that state.

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Case Law and Common Law Doctrines

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Judge-made law, including interpretations of constitutional provisions, of statutes enacted by legislatures, and of regulations created by administrative agencies.

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Positivist School

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A school of legal thought centered on the assumption that there is no law higher than the laws created by the government. Laws must be obeyed, even if they are unjust, to prevent anarchy.

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Historical School

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A school of legal thought that stresses the evolutionary nature of law and looks to doctrines that have withstood the passage of time for guidance in shaping present laws.

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Legal Realism

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A school of legal thoughts that advocates a less abstract and more realistic and pragmatic approach to the law and takes into account customary practices and the circumstances surrounding the particular transaction. _ strongly influenced the growth of the sociological school of jurisprudence, which views law as a tool for promoting social justice.

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legal and Equitable Remedies

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The distinction between _ of law (money or items of value, such as land) and _ in _ ( including specific performance, injunction, and rescission of a contractual obligation) originated in the early English courts of law and courts of equity, respectively

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Case Precedents and the Doctrine of Stare Decisis

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In the king's courts, judges attempted to make their decisions consistent with previous decisions, called precedents. This practice gave rise to the _ _. This _, which became a cornerstone of the common law tradition, obligates judges to abide by precedents established in their jurisdiction.

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Stare Decisis and Legal reasoning

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_ is the reasoning process used by judges in applying the law to the facts and issues of specific cases. _ involves becoming familiar with the key facts of a case, identifying the relevant legal rules, apllying those rules to the facts, and drawing a conclusion. In applying the legal rules to the facts of a case, judges may use deductive reasoning, linear _, or _ by analogy.