Business Law 1: Chapter 1: Law and Legal Reasoning: Worksheet: The Common Law Tradition

1. Positivist 2. Historical 3. Natural Law 4. Legal realism

1. There is no law higher than the laws created by the government. 2. Doctrine that have withstood the passage of time help guide us in shaping present laws. 3. Universal law as applicable to all human beings. 4. Takes into account customary practices and the circumstances surrounding the particular transaction.

Remedies __1__ involve specific performance. Part of the common law tradition relies on the doctrine of __2__ The Latin phrase for the correct answer in the previous question means __3__ One of the important functions of law is to provide __4__

1. in equity 2. stare decisis 3. to stand on decided cases 4. Stability and predicability

Traditionally, courts of law offer three remedies, called remedies at law. Highlight these three traditional remedies: Money / Agreements to get back stolen goods / Land / The ability to not fulfill the contract / Items of value / An injunction

Highlight: Money, Land, Items of value

Li Ang is researching new state inheritance laws. She will NOT bother to investigate which of the following ____

Restatements of Law

A precedent is a decision that furnishes an example or authority for deciding subsequent cases involving similar legal principles or facts. a. True b. False

a. True

Generally speaking, the Restatements of Law: a. are used only by courts of equity. b. are not used as much as they were historically. c. summarize the common law rules followed by most states.

c. summarize the common law rules followed by most states.

A source of law that courts must follow when deciding a case is called a binding authority. A binding authority does NOT include which of the following ____ Select the order for the following words to form the basic steps in legal reasoning: Conclusion Rule Issue Application

opinions from trusted newspapers Order: Conclusion: 4 Rule: 2 Issue: 1 Application: 3