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Business Law 3000 > Chapter 1 Terms > Flashcards

Chapter 1 Terms Flashcards

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1
Q

Law

A

enforceable rules governing relationships among individuals and between individuals and their societies.

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2
Q

Liability

A

the state of being legally liable for something

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3
Q

Contitutional Law

A

law that is based off the US constitution and the constitutions of the various states

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4
Q

Statutory Law

A

the body of law enacted by legislative bodies.

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5
Q

Ordinances

A

law passed by a local governing unit, such as a city or a county

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6
Q

Uniform Laws

A

a model law created by the National Conference of Commissioners on uniform State Laws and/or the American Law institute for the states to consider adopting. If the state adopts the law it becomes statutory law in that state.

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7
Q

Administrative Law

A

the body of law created by administrative agencies in order to carry out their duties or responsibilities.

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8
Q

Administrative Agency

A

a federal or state government agency created by the legislature to perform a specific function, such as to make and enforce laws pertaining to the environment.

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9
Q

Executive Agencies

A

an administrative agency within an executive branch of government . At the federal level, executive agencies are those within the cabinet departments.

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10
Q

Independent Regulatory Agencies

A

An administrative agency that is not considered part of the government’s executive branch and is not subject to the authority of the president. Independent agency officials cannot be removed without cause.

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11
Q

Case Law

A

the rules of law announced in court decisions. Case law interprets statutes, regulations, constitutional provisions, and other case law.

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12
Q

Common Law

A

the body of law developed from custom or judicial decisions in English and US courts, not attributable to a legislature.

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13
Q

Remedies

A

the relief given to an innocent party to enforce a right or compensate for the violation of a right

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14
Q

Courts of Law

A

a court in which the only remedies that could be granted were things of value, such as money damages.

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15
Q

Remedies at law

A

a remedy available in a court of law.money damages are awarded as a remedy at law

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16
Q

Damages

A

a monetary award sought as a remedy for a breach of contract or a tortious act

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17
Q

Courts of Equity

A

a court that decides controversies and administers justice according to the rules, principles, and precedents of equity.

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18
Q

Remedies in equity

A

a remedy allowed by courts in situations where remedies at law are not appropriate. Remedies in equity include injunction, specific performance, rescission and restitution, and reformation.

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19
Q

Breaches

A

to violate a law, by an act or an omission, or to break a legal obligation that one owes to another person or to society

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20
Q

Equitable Maxims

A

general propositions or principles of law that have to do with fairness

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21
Q

Laches

A

the equitable doctrine that bars a party’s rights to legal action if the party has neglected for an unreasonable length of time to act on his or her rights

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22
Q

Defense

A

reasons that a defendant offers in an action or suit as to why the plaintiff should not obtain what he or she is seeking

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23
Q

Defendant

A

one against whom a lawsuit is brought, or the accused person in a criminal proceeding

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24
Q

Plaintiff

A

party that initiates a lawsuit

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25
Petitioner
in equity practice, a party that initiates a lawsuit
26
Respondent
in equity practice, the party who answers a complaint or other proceeding
27
Statutes of Limitations
a federal or state statute setting the maximum time period during which a certain action can be brought or certain rights enforced.
28
Precedent
a court decision that furnishes an example or authority for deciding subsequent cases involving identical or similar facts
29
Reporters
a publication in which court cases are published, or reported.
30
Stare Decisis
common law doctrine under which judges are obligated to follow the precedents established in prior decisions
31
Binding Authority
any source of law that a court must follow when deciding a case
32
Persuasive Authorities
any legal authority or source of law that a court may look to for guidance but need not follow when making a decision
33
Legal Reasoning
the process of reasoning by which a judge harmonizes his or her opinion with the judicial decisions in previous cases
34
Cases on Point
a previous case involving factual circumstances and issues that are similar to those in the case before the court
35
Citation
a reference to a publication in which a legal authority - such as a statute or a court decision - or other source can be found
36
Administrative Rules
rules and regulations adopted by federal administrative agencies are initially published in the Federal Register, and are later incorporated into the Code of Federal Regulations
37
Appellant
the party who takes an appeal from one court to another
38
Appellee
the party against whom an appeal is taken
39
Opinions
a statement by a court expressing the reasons for its decision in a case
40
Majority Opinion
a court opinion that represents the views of the majority of the judges of justices deciding the case
41
Concurring Opinions
a court opinion by one or more judges or justices who agree with the majority but want to make or emphasize a point that was not made or emphasized in the majority’s opinion
42
Dissenting Opinion
a court opinion that presents the views of one or more judges or justices who disagree with the majority’s opinion
43
Plurality Opinion
a court opinion that is joined by the largest number of the judges or justices hearing the case, but fewer than half of the total number
44
Per curiam Opinion
By the whole court
45
Primary Sources of Law
US Constitution & constitutions of various states; statutory law, regulations created by adminiatrative agencies; case law and common law doctrines
46
Secondary Sources of Law
Books & articles that summarize and clarify the primary sources of law
47
The Uniform Commercial Code (UCU)
facilitates commerce among states by providing uniform, yet flexible, set of rules governing commercial transactions.
48
4 Basic Steps to Legal Reasoning
1 - Issue 2 - Rule 3 - Application 4 - Conclusion
49
Jurisprudence
the science of philosophy of law
50
Natural Law
the oldest school of legal thought, based on the belief that the legal system should reflect universal moral and ethical principles that are inherent in human nature
51
Legal Positivism
a school of legal thought centered on the assumption that there is no law higher than the laws created by a national government. Laws must be obeyed, even if they are unjust, to prevent anarchy.
52
Historical School
a school of legal thought that looks to the past to determine what principles of contemporary law should be
53
Legal Realism
holds that the law is only one factor to be considered when deciding cases and that social and economic circumstances should also be taken into account
54
List the Schools of Legal Thought
``` Jurisprudence; Natural Law; Legal Positivism; Hisotrical School; Legal Realism ```
55
List the Classifications of Law
``` Substantive Law; Procedural Law; Civil Law; Criminal Law; Cyberlaw ```
56
Substantive Law
law that defines, describes, regulates, and creates legal rights and obligations
57
Procedural Law
law that establishes the methods of enforcing the rights established by substantive law.
58
Civil Law
a system of law derived from that of the Roman Empire and based on a code rather than a case law
59
Criminal Law
the branch of law that defines and punishes wrongful actions committed against the public
60
Cyberlaw
an informal term used to refer to all laws governing electronic communications and transactions, particularly those conducted via internet

Business Law 3000 (5 decks)

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