Business Law Chapter 1

Sources of American Law Statutory Law

Administrative law consists of the rules, orders, and decisions of administrative agencies. Federal Agencies Executive agencies within the cabinet departments of the executive branch are subject to the power of the president to appoint and remove their officers. The officers of independent agencies serve fixed terms and cannot be removed without just cause. State and Local Agencies These agencies are often parallel federal agencies in areas of expertise and subjects of regulation. Federal rules that conflict with state rules take precedence.

Classifications of Law CIVIL LAW AND CRIMINAL LAW

Civil law regulates relationships between 1) persons, 2) persons and their governments, and 3) the relief available when their rights are violated. Criminal law regulates relationships between individuals and society, and prescribes punishment for proscribed acts. La. is a civil law state; which means its laws are codified.

What were the 2 separate court systems under English Common law?

Courts of law Can only issue remedies at law i.e., money or ppty. Courts of Equity Understand that equity is a branch of unwritten law, which was founded in justice and fair dealing, and seeks to supply a fairer and more adequate remedy than a remedy at law. Can only issue remedies in equity i.e., specific performance, injunctions, rescission of contracts, etc. Remedies in equity were available only when there was no adequate remedy at law. Today, in most states, either or both may be granted in the same action.

Classifications of Law CYBERLAW

Cyberlaw is an informal term that describes the body of case and statutory law dealing specifically with issues raised in the context of the Internet. **Note that laws (and legal systems) are man-made and that they can, and do, change over time as society changes.

What is American law based on?

English Common law Knowledge of this tradition is necessary to the understanding of the nature of our legal system.

IRAC & CRAC

I: Issue: Identification of the key facts and issues The question of law the court is trying to answer. R: What rules of law apply to the case A: Application/Analysis-How do the rules of law apply to the particular facts and circumstances of the case. C: Conclusion: What conclusion should be drawn CRAC=Conclusion, Rule, Analysis/Application, & Conclusion.

Controlling Precedents

Precedent-a decision that furnishes an example or authority for deciding subsequent cases involving identical or similar legal principles or facts. A court's application of a specific principle to a certain set of facts is binding on that court and lower courts, which must then apply it in future cases. A controlling precedent is binding authority. Other binding authorities include constitutions, statutes, and rules. Supreme Ct. precedents, no matter how old, remain controlling until they are overruled by a subsequent decision of the Supreme Ct, by a constitutional amendment, or by congressional legislation. Departures from precedent A judge may decide that a precedent is incorrect, however, if there may have been changes in technology, for example, business practices, or society's attitudes.

Sources of American Law Statutory Law

Statutes and ordinances are enacted by congress, state legislature, and local legislative bodies. Statutes are laws enacted by Congress or a state legislative body. Ordinances are laws enacted by local legislative bodies. Much of the work of courts is interpreting what lawmakers meant when a law was passed and applying that law to a set of facts. UCC-provides a uniform flexible set of rules that govern most commercial transactions

Classifications of Law

Substantive law defines, describes, regulates, and creates rights and duties. Procedural law includes rules for enforcing those rights. Other classifications include splitting law into federal and state divisions or private and public categories. One of the broadest classification systems divides law into national law and international law

Understand that common law is judge made law What does this mean?

The body of principles and doctrines that form the common law emerged over time as judges decided legal controversies.

Sources of American Law US Constitution

The federal constitution is a general document that distributes power among the branches of the gov't. It's the supreme law of the land. Any law that conflicts with it is invalid. States have constitutions but the federal constitution prevails if the provisions of the 2 conflicts.

Stare Decisis

The practice of deciding new cases with reference to former decisions or precedents.

What's the primary function of law?

The primary function of law is to simultaneously maintain stability and permit change. The law does this by providing for dispute resolution, the preservation of political, economic, and social institutions, and the protection of ppty.