week 1 vocab chapter 1,2,3 Flashcards Preview

PIMS - Business law > week 1 vocab chapter 1,2,3 > Flashcards

Flashcards in week 1 vocab chapter 1,2,3 Deck (31)
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1

governmental rule prescribing conduct and carrying a penalty for violation

law

2

(not a definition)
laws written by a legislative body (4)

1. statues
2. criminal law
3. crime
4. ordinance

3

laws which are enacted by legislative bodies (federal and state laws)

statues

4

laws dealing with crimes and the punishment of wrongdoers

criminal law

5

an offense which is injurious to society as a whole

crime

6

law enacted by a local unit of government (county, city, etc)

ordinance

7

(not a definition) laws made by courts/judges (2)

1. common law
2. stare decisis

8

the body of law deriving from judicial decisions, rather than from statutes or construction

common law

9

the principle that the decision of a higher court should serve as a guide or precedent and control the decision of a similar case in the future

stare decisis

10

(not a definition) criminal law vs. civil law (4)

1. criminal law
2. crime
3. felony
4. misdemeanor

11

serious criminal offense by imprisonment for more than one year or death

felony

12

a less serious crime punishable by fine and/or imprisonment of less than one year

misdemeanor

13

the body of law concerned with private or purely personal rights

civil law

14

a private or civil wrong against a person or his/her property, other than by breach of contract for which there may be an action of damages

tort

15

failure to exercise reasonable care

negligence

16

failure to perform a professional service with the ability and care generally exercised by others in the profession

malpractice

17

rules of conduct for the performance of business transactions

business law

18

(not a definition)
non-monetary civil remedies (3)

1. injunction
2. recession
3. specific performance

19

a judicial order or decree forbidding certain conduct

injunction

20

to set aside or cancel a contract

recission

21

a remedy by which the court requires the breaching party to perform the contract

specific performance

22

(not a definition)
parties to civil actions (3)

1. trial court
2. plaintiff
3. defendant

23

court which conducts the original trial of a case

trial court

24

the party who initiates a civil action

plaintiff

25

the party against whom legal action is brought

defendant

26

(not a definition)
civil procedure (5)

1. complaint (petition)
2. summons
3. discovery
4. judgement
5. execution

27

the document which initiates a civil action

complaint (petition)

28

a notice given to a defendant, attaching the complaint and stating a time frame in which to respond

summons

29

the formal and informal exchange of information between sides in a lawsuit

discovery

30

a decision of the court at the end of the trial

judgement