Business Law Chapter 1

Front 1

Functions of the Constitution

Back 1

1) set up the structure of government for the political unit they control - involves creating the branches and subdivisions of the government and stating powers given and denied to each
2) prevents other units of government from taking certain actions or passing certain laws - does so by prohibiting government actions that restricts certain individual rights

Front 2

Statutes

Back 2

laws created by elected representatives in Congress or a state legislature - stated in an authoritative form in statute books or codes

Front 3

Uniform acts

Back 3

model statutes drafted by private bodies of lawyers and/or scholars - do not become law until a legislature enacts them

Front 4

Common Law

Back 4

aw made and applied by judges as they decide cases no governed by statutes or other types of law - exists only at state level - both state and federal courts become involved in applying it

Front 5

Precedent

Back 5

following the decisions of other judges in similar cases - stare decisis: let the decision stand

Front 6

Restatements

Back 6

collections of common law rules covering various areas of law - not law and not binding - arguments are often found persuasive

Front 7

Equity

Back 7

provide several remedies not available in the common law courts

Front 8

Injunction (equity)

Back 8

court order forbidding a party to do some act of commanding him to perform some act

Front 9

specific performance (equity)

Back 9

a party is ordered to perform according to the terms of a contract

Front 10

reformation (equity)

Back 10

court rewrites the contract's term to reflect party's real intentions

Front 11

rescission(equity)

Back 11

cancellation of a contract in which the parties are returned to their pre-contractual position

Front 12

Administrative regulations and decisions

Back 12

administrative agencies obtain the ability to make law through a delegation of power form the legislature

Front 13

Treaties

Back 13

according the Constitution "the supreme law of the land"

Front 14

Ordinances

Back 14

enactments of counties and municipalities - example: zoning ordinances

Front 15

Executive orders

Back 15

power of President or a state's governor to make law - usually results from a legislative delegation

Front 16

Priority Rules

Back 16

1. US Constitution/treaties
2. State, etc constitutions
3. treaty vs federal statute=most recent
4. statues>conflicting laws
5. laws from statutes>inconsistencies

Front 17

Criminal Law

Back 17

gov't prosecutes someone for committing a crime

Front 18

Civil Law

Back 18

private parties prosecute

Front 19

Substantive Law

Back 19

sets rights and duties of people as they act in society

Front 20

Procedural Law

Back 20

controls behavior of govt bodies as they establish and enforce substantive law

Front 21

Public Law

Back 21

concerns the powers of government and the relations between government and private parties

Front 22

Private Law

Back 22

establishes a framework of legal rules that enables parties to set the rights and duties they owe each other - examples: rules of contract and property

Front 23

Functions of law

Back 23

1) peacekeeping
2) checking government power and promoting personal freedom
3) facilitating planning and the realization of reasonable expectations
4) promoting economic growth through free competition
5) promoting social justice - government has intervened in private social and economic affairs to correct perceived injustices and give all citizens equal access to life's basic goods
6) protecting the environment

Front 24

Case law reasoning

Back 24

courts find appropriate legal rules in precedents - follow stare decisis - if no precedent is applicable court is free to develop a new common law rule to govern the case

Front 25

Statutory interpretation

Back 25

not easy to interpret - becomes more difficult when applying them to situations the legislature did not foresee
uses:
1. plain meaning
2. legislative history/purpose
3. general public purpose
4. prior interpretations

Front 26

Maxims

Back 26

general rules of thumb employed in statutory interpretation - ejusdem generis: when general words follow words of a specific, limited meaning, the general language should be limited to those things of the same class as those specifically stated

Front 27

Limits on the power of courts

Back 27

respect for established precedent - fear of innovation because of higher courts overturning - political factors such as election or removal - standing to sue: plaintiff must have some direct, tangible and substantial stake in the outcome of the litigation

Front 28

Declaratory judgement

Back 28

allows parties to determine their rights and duties even though their controversy has not advanced to the point where harm has occurred and legal relief may be necessary