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19 Cards in this Set
- Front
- Back
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Business Law
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The enforceable rules of conduct that governs the actions of buyers and sellers in market exchanges.
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Law
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Rules of conduct in any organized society that are enforced by the governing authority of the community.
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Private Law
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Law that involves suits between private individuals or groups.
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Public Law
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Law that involves suits between private individuals or groups and their governments.
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Civil Law
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The body of laws that govern rights and responsibilities either between persons or between persons and their government.
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Criminal Law
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A classification of law involving the rights and responsibilities and individual has with respect to the public as a whole.
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Constitutional Law
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The general limits and powers of a government as interpreted from its written constitution.
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Statutory Law
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The assortment of rules and regulations put forth by legislatures.
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Model Laws
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Laws created to account for the variability of laws among states. These laws serve to standardize the otherwise different interstate laws.
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Case Law
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The collection of legal interpretations made by judges. They are considered to be law unless otherwise revoked by a statutory law.
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Precedent
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A tool used by judges to make rulings on cases on the basis of key similarities to previous cases.
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Stare Decisis
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"Standing by the decision"; a principle stating that rulings made in higher courts are binding precedent for lower courts.
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Restatements of the Law
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Summaries of common law rules in a particular area of the law. Restatements do not carry the weight of law but can be used to guide interpretations of particular cases.
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Administrative Law
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The collection of rules and decisions made by administrative agencies to fill in particular details missing from constitutions and statues.
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Legal Positivism
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A school of jurisprudence which holds that because society requires authority, a legal and authoritarian hierarchy should exist. When a law is made, therefore obedience is expected because authority created it.
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Identification with the vulnerable
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A school of jurisprudence which holds that society should be fair. Particular attention is therefore paid to the poor, ill, and the elderly.
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Historical School
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A school of jurisprudence that uses traditions as the model for future laws and behavior.
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Legal Realism
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A school of jurisprudence which holds that CONTEXT must be considered as well as law. Context includes factors such as economic and social conditions.
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Cost-Benefit analysis
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An economic school of jurisprudence in which all costs and benefits of a law are given monetary values. Those laws with the highest ratios of benefits to costs are then preferable to those with lower ratios.
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