Business Law Ch. 1 Study Guide
The 4 sources of law
1. Executive orders - (weak) written law pass by chief executive 2. The Constitution - written law which: sets up powers of the government & establishes fundamental rights 3. Statues - Law written by legislature (acts) 4. Cases - court made laws
Criminal Law
1. who initiates- government 2. against whom- defendant 3. what is at stake- liberty, life, money 4. standard proof- "beyond reasonable doubt" 99% 5. name for responsible- guilty
Civil Law
1. who initiates- plaintiff 2. against whom- defendant 3. what is at stake- money 4. standard proof- "preponderance of evidence" 50% 5. name for responsible- liable
Equitable Remedies
Court orders injunction- court order requiring someone to do something or stop doing something specific performance- court order requiring someone to fulfill a contract
Legislative Branch
Enacts laws Federal: US Congress, H.O.R (speaker of the house, 435 members based on population, 2 yr terms), US Senate (majority leader, 100 members, 6 yr terms) State: State legislature, state house of representatives, state senate
Executive Branch
Enforces laws Federal: President, VP, Chief of staff, Cabinet chosen by senate State: Governor, Lt. Governor, cabinet
Judicial Branch
Enforces laws Federal: Supreme Court, chief justice (John Roberts), US court of appeal, US district courts State: State supreme judicial court (SJC), court of appeals, trial courts
The 3 Branches of Government
Executive, Legislative, Judicial (at state and federal level)
Checks and Balances
Shared power of government 1. one branch over another 2. one level over another (Fed & state) 3. within a single branch
Remedies
The "fix" that a plaintiff seeks in a civil lawsuit (Legal and Equitable remedies)
The doctrine of stare decisis
The practice of deciding new cases with reference to former cases with similar facts, or precedents
Natural Law
Universally accepted moral or ethical norms drive the law making process. A visceral sense of right or wrong controls law. (Plato, Aristotle, Socrates)
Legal Positivism
Written laws of government must be followed if a law is bad, change it, until then follow it. Opposite; Civil disobedience, not following laws is the best way to change it.
Strict adherence to the written law of government is most significant to
a legal positivist
An injunction is
an equitable remedy
Specific performance is
an equitable remedy
Common law is a synonym for
case law
Common law rules develop from
decisions of courts in legal disputes
Applying the law by referring to precedent requires finding previously decided cases that
involve similar facts
Legal Realism
law makers are human beings, bring life experience to law making, flexible approach
Legal Remedies
money, damages
3 Schools of Legal Thought
natural law, legal positivism, legal realism
Federalism
simultaneous and independent operation (the 2 levels federal and state)
If the constitution of a state conflicts with the U.S Constitution
the U.S. Constitution takes precedence
In the case of James v. Lynn, decided in 1995, a state supreme court decided that a minor (a person under the age of 18) could cancel a contract for the sale of a car. A similar case, Baker v. Becker, is being decided today by a trial court in the same state. If stare decisis is used to decide the Baker v. Becker case,
the court will allow the minor to cancel the sale of the car
