Business Law Chapter 2

Front 1

Dualities of the Law

Back 1

balance between the spirit and the letter of the law, between legal words and their interpretation, between abstract principles and concrete situations (uncertainty principle)

Front 2

Spirit vs. Letter of the Law

Back 2

the difference between understanding and respecting the law or just taking it face value. Liquor store analogy

Front 3

Words vs. Interpretation

Back 3

having to change how a law is worded to avoid confusion

Front 4

Abstract vs. Concrete Law

Back 4

law (abstract), situation (concrete) don't violate abstract law

Front 5

Abstract Principle

Back 5

'be fair to everyone with new tax law' Concrete Principle- reality of competing tax payers, etc

Front 6

Uncertainty Principle

Back 6

decision is intended vs execution (bills being vetoed)

Front 7

Constitutional Law

Back 7

the body of the last that makes up a constitution and it's interpretation

Front 8

Constitution

Back 8

basic law of nation and state (DID NOT CREATE DEMOCRACY)

Front 9

Articles of Confederation

Back 9

FIRST constitution
weaknesses: federal government could not impose taxes or tariffs, congress had to rely on good will of states for money
strengths: set limits for term of president, congress not arrested for job

Front 10

Principles of the US Constitution

Back 10

1) Separation of powers among 3 branches (executive, legislative, and judicial)

2) Checks and Balances system (allows to oversee other branches)

Front 11

The Amendments

Back 11

established rights that belong to the people, change some provisions in the original articles and add ides that framers did not include

**fine tuning the constitution (first 10 bill of rights)

Front 12

The Principle of Supremacy

Back 12

all other laws must be in line with the constitutional principles

Front 13

The Principle of Preemption

Back 13

process by which courts decide that a federal statute must take precedence over a state statute

Front 14

Doctrine of Devolution

Back 14

occures when courts redefine a right and shift obligation from UPPER level authority to LOWER level authority

**does not destroy rights, redefines authority

Front 15

The Commerce Clause

Back 15

Article I, Section 8, Clause3---"Congress sheall have power to regulate commerce within a foreign nation and among several states"

**can't force citizens to do what they don't want

Front 16

The First Amendment

Back 16

freedom of press, freedom of speech, freedom of assembly, and freedom of religion

Front 17

Statutory Law

Back 17

Law passed by legislature, prohibit certain activities, demand performance (example: seat belts in cars)

Front 18

Federal Statute

Back 18

laws made by congress and signed by the president

Front 19

State Statutes

Back 19

enacted by state legislatures (gay marrige, marijiuana- by state)

Front 20

Codes

Back 20

a compliation of all the stateuts of a paricular state or federal government (United States Code, USC)

Front 21

Titles

Back 21

codes are subdivided into titles, grouping of statutes that deal with a particular area of the law

Front 22

Uniform Laws

Back 22

The National Conference of Commissioners on Uniform State Laws (NCCUSL) writes uniform laws (contiuity from state to state) comprised of commissioners from each state (send as many as they want, more populated pay more money)

Front 23

National Conference of Commissioners on Uniform State Laws

Back 23

NCCUSL

Front 24

State Commissioners

Back 24

selected by governers of the states, serves number of years based on state, states must send money to fund (more populated more money and more commissioners)

Front 25

Law Process

Back 25

NCCUSL---> Scope Committee---> selected committee---> scope committee---> executive commitee---> all commissioners---> then eventually must be passed by legislature

Front 26

Uniform Commerical Code (UCC)

Back 26

unified set of statutes designed to govern almost all commerical transactions

Front 27

Cyber Commerce

Back 27

all cyber transactions

Front 28

Uniform Computer Information Transaction

Back 28

(UCITA) designed to deal directly with cyber contracts that involve the sale os licensing of digital info

Front 29

Uniform Electronic Transaction Act

Back 29

(UETA)- ensure cyber contracts are enforceable

Front 30

Common Law

Back 30

body of previously recorded legal decisions made by courts in specific cases

Front 31

Stare Decisis

Back 31

(let the decision stand) process of following these recorded decisions

Front 32

Precedent

Back 32

a model case that a court can follow when facing a similar situation

Front 33

Binding Precedent

Back 33

a court MUST follow

Front 34

Persuasive Precedent

Back 34

a court can follow or ignore

Front 35

Statutory Interpretation

Back 35

a process by which courts analyze those aspects of a statute that are unclear or ambiguous or that were not anticipated at the time legislature passed the statute

Front 36

Judicial Review

Back 36

the process of determining the constitutionality of various legistlative statutes administrative regulations or executive actions and compare with the constitiution

Front 37

Adminitstrative Law

Back 37

create rules, regulate and supervise, and render decisions that have a force of law

Front 38

Federal Register

Back 38

a publication that produces daily compilation of new regulations issued by the federal admin agencies

Front 39

The directors of ABC Company decide to use recycled materials even though these materials are most costly than the new raw materials. Shareholders threaten to sue the directors. The curren legal psotion in the US makes the directors:

Back 39

A) Clearly Liable
B)Liable unless legislation requires use of the recycled materials
C)Immune from this suit
D) immune from criminal charges

Front 40

Those who believe that each person must surrender some personal freedoms in order to have security in return are describing?

Back 40

A) Social Contract Theory
B) A State of Nature
C) Natural Law
D) Utilitarianism

Front 41

Ethical Relativism is also known as Objective Ethics

Back 41

TRUE

Front 42

Socail Contract thoery is based on an implied agreement among all individuals int he world as a whole

Back 42

FALSE

Front 43

Utilitarianism forcuses on the good intentions that give rise to an action

Back 43

FALSE

Front 44

A corporation cannot be derived of property without due process of the law

Back 44

TRUE

Front 45

Managers may only legally consider profit in making corporate decisions

Back 45

FALSE

Front 46

The articles of confederation was ineffective in part because it did not give the federal government the right to impose tax or tariffs

Back 46

TRUE

Front 47

The US constitition created a Democracy

Back 47

FALSE

Front 48

When the federal government redefines a right and takes over responsibility for that right form a state government, they are applying the doctrine of devolution

Back 48

FALSE

Front 49

Judicial review refers to the power of the court to hear cases and settle disputes

Back 49

FALSE

Front 50

The common law is that law which states have agreed to follow so that citizens can have a consistant body of laws to follow throughout the US

Back 50

FALSE