Business Law - Exam 1

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code of conduct that defines the behavioral boundaries for business activity

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law

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major social institution that helps define acceptable behavior

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legal system

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What does the fourth branch of the U.S. government consist of?

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administrative agencies created by Congress

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binding laws set forth by Congress and state legislatures

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statutory law

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law made and applied by judges as they resolve disputes among private parties

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common law

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books written by judges to explain their rulings in cases; provide precedence

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case reporters

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“to stand on decided cases”; practice of deciding new cases by referencing previous decisions

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stare decisis

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requiring federal agencies to do certain thing within the president’s scope of authority

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executive orders

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legal relationship between members of society – businesses and individuals – and the government

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public law

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rules governing the legal relationships among members of society

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private law

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legal wrongs or crimes committed against the government; classified as a felony or misdemeanor

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criminal law

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rights and responsibilities that exist among members of society or between individuals and the government in noncriminal matters

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civil law

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common law and statutory law that define and establish legal rights and regulate behavior

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substantive law

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determines how substantive law is enforced through the courts by determining how a lawsuit begins, what documents need to be filed, which court can hear the case, etc.

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procedural law

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key factor in an agency’s decision whether to prosecute an organization or recommend leniency in court

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compliance program

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generally accepted standards of right and wrong

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morals

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abstract concepts that might be encountered in the study of standards of right and wrong in philosophy and theology

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ethics

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summary of the judges opinion, describing legal basis for decision reached, often prepared by law students

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brief

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copies of a decision as soon as it is made public by the court

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slip opinion

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rules passed by agencies subsequent to a congressional statue; published in the Code of Federal Regulations

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regulations

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printed five days a week, lists all proposed regulations and all new and amended regulations

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Federal Register

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generally cover one area of topic of law, summarizing principles and rules dealing with a single topic

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treatises

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published by law schools and edited by law students, contain articles written by legal scholars, judges, law students, and practitioners on virtually all aspects of law

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law reviews

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consequence of intensive study on a specific topic by legal scholars, culminating in a written statement of the law that includes rules stated in bold type

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restatement

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How are judges selected under the Missouri System?

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Governor selects a judge who serves until next election, at which time the public votes for or against him

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judge is absolutely immune from suit for damages for judicial acts

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doctrine of judicial immunity

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lower courts where disputes are first brought and tried

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original jurisdiction

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courts where the decisions of a lower court can be taken for review

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appellate jurisdiction

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petition to the court for appellate review

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writ of certiorari

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new trial resulting form dissatisfaction with the decision of the limited-jurisdiction court

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trial de novo

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courts with limited jurisdiction, amount in controversy does not exceed $5,000

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small claims courts

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the power to speak of the law; defines the limits within which it may declare, administer, or apply the law

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jurisdiction

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created by a constitution or a statute regarding the types of disputes a court can accept to resolve

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subject-matter jurisdiction

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notice of the lawsuit

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summons

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plaintiff properly notifies the defendant of the action filed with a summons

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service of process

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issued against a defendant who fails to appear

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default judgment

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service of process by which the summons is delivered to the defendant by the plaintiff, the plaintiff’s attorney, a private process serer, or a public official such as a sheriff or U.S. marshal

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personal service

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state law that permits a state’s court to reach beyond the state’s boundaries for jurisdiction over nonresident defendants

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long-arm statute

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in lawsuits based on a dispute over property, the court in the state where the property is located has jurisdiction to resolve claims against that property

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in rem jurisdiction

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a defendant’s property in a state is attached to secure payment for an unrelated matter

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quasi in rem jurisdiction

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occurs when both systems have the power to hear a case; diversity of citizenship and amount in controversy exceeds $75,000 or dispute involves a federal question and Congress has not conferred exclusive jurisdiction on the federal courts

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concurrent jurisdiction

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occurs when a state court hears a case involving incidents that took place in more than one state or entirely in a different state; court determines whether its own law or the law of another state should be applied

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conflict-of-law problem

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party asks the court to dismiss the case and transfer it to another court, even though the original court has jurisdiction, because there is another, more convenient court that could hear the case

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forum non conveniens

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the use of arbitration, mediation, and negotiation to settle disputes as opposed to going to trial

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alternative dispute resolution

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requires parties to represent themselves and to argue their positions before a court

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adversary system of justice

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defendant asks court to dismiss the case because it does not have jurisdiction

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motion to dismiss

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assertion that even if facts asserted are true, the injury claimed by the plaintiff is one for which the law furnishes no remedy

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demurrer

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defendant admits to the facts claimed by the plaintiff but offers additional facts he asserts constitute a defense (legal excuse)

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affirmative defense

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defendant’s assertion of a claim against the plaintiff

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counterclaim

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plaintiff’s answer to the counterclaim; new matters raised by defendant automatically taken as denied by plaintiff

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reply

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the process of obtaining information

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discovery

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sworn, in-person testimony of a witness recorded by a court reporter

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deposition

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questions submitted by a party to a case to the other party, or a witness, or another person with relevant information

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interrogatories

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a party asks the judge to apply the law to the facts gathered in discovery and resolve the dispute

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summary judgment

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process used to select jury members; determines whether a prospective juror is likely to be so biased that he or she could not reach a fair decision based on the evidence presented

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voir dire

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party requests that the court enter a judgment in its favor because there is not legally sufficient evidence on which a jury could find for the other party

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motion for a directed verdict

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losing party asks judge to hold that there were not legally sufficient grounds to support the jury’s verdict and to overturn

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motion for judgement as a matter of law

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the way a right is enforced or how a violation of a right is compensated or prevented

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remedy

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intended to give injured parties enough money to restore them to the economic position they were in before the injury

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compensatory damages

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meant to punish wrongdoer and discourage others from similar conduct

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punitive damages

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awarded to plaintiff if he has suffered a legal wrong but has not suffered actual damages to person or property

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nominal damages

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requires offending party to do what had been promised

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specific performance

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court order directing a person to do something, to not do something being planned, or to stop doing something

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injunction

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court imposes conditions on the activities of the alleged wrongdoer until the rights of the parties have been determined or the wrongdoer makes changes in the activity to make them acceptable

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temporary injunction

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court finds the activities damage the rights of the injured party and cannot be modified to satisfy the court

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permanent injunction

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appellate court’s decision to return the case to the trial court for retrial

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remand

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a thing decided by judgment

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res judicata

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court order to an official to seize the property of the defendant to satisfy the judgment

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writ of execution

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an order for a certain amount of the debtor’s paycheck to be paid on a regular basis to the judgment winner

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garnishment

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the most widely recognized form of alternative dispute resolution; two or more persons agree to allow a neutral person or panel to resolve a dispute

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arbitration

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least formal form of ADR; follows no mandatory procedure and occurs when parties decide to settle a mater between themselves

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negotiation

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a third party is always used to help parties in a dispute try to reach a solution by coming to an acceptable agreement

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mediation