BUS 263 TEST 1 VERIFIED STUDY GUIDE
Be aware of the legal and regulatory landscape
Take steps to ensure full compliance with the law to avoid civil and criminal liability -
Answers - Companies in the U.S. must:
corporate boards - Answers - Lawyers play a positive role in
Law - Answers - Rules established by the state and backed up by enforcement
Formal social force
Adequate enforcement institutions are necessary to maintain order in society
Rule of Law - Answers - Laws are generally and equally applicable; judges play vital
role
Rule-of-law nations - Answers - adopt laws supporting the private market
property - Answers - Legal right that allows a person to exclude others from his/her
resources
Public property
Private property
Common property - Answers - Types of ownership fences
jurisprudence - Answers - philosophies that explain origin of law and its justification
Common law and civil law
Public and private law
Civil law and criminal law
Substantive law and procedural law - Answers - Classification of Law
Common law - Answers - Emphasizes the role of judges in determining the meaning of
laws
Civil law - Answers - Relies on legislation than judicial decisions for law
Civil cases - Answers - Include suits for breach of contract or tort cases
Involve request for damages or appropriate relief
Criminal cases - Answers - A government representative attempts to prove the wrong
committed against society.
Result in punishment
, Substantive law - Answers - Defines the legal relationship of people with other people or
with the state
Procedural law - Answers - Method and means by which substantive law is made and
administered
federal law - Answers - - constitution
- legislation
- administrative law or regulation
state law - Answers - state constitution, statutes or acts, regulatory law of state
administrative agencies, ordinances
judicial decisions or case law - Answers - Interpret the constitutional, legislative, and
regulatory laws
Citation - Answers - Enables to locate the case in a library or computer databases
Stare decisis - Answers - Judges follow precedents whenever possible.
Ensures certainty and predictability in the law
Hierarchy of Sources of Law - Answers - U.S. Constitution and Amendments
Statutes of Congress
Federal administration regulation
State constitutions
State statutes
State administrative regulation
Local ordinances
Case law
Legal Sanctions - Answers - Methods used by law enforcement officials and courts to
encourage or force compliance with the obedience to the law
Remedy - Answers - Right of an individual to take another person's resources as that
person failed to meet the requirements of the law
punishments - Answers - Death
Imprisonment
Fine
Removal
Disqualification
crime - Answers - public wrong against society
Breach of contract - Answers - Failure to perform contractual promise
Be aware of the legal and regulatory landscape
Take steps to ensure full compliance with the law to avoid civil and criminal liability -
Answers - Companies in the U.S. must:
corporate boards - Answers - Lawyers play a positive role in
Law - Answers - Rules established by the state and backed up by enforcement
Formal social force
Adequate enforcement institutions are necessary to maintain order in society
Rule of Law - Answers - Laws are generally and equally applicable; judges play vital
role
Rule-of-law nations - Answers - adopt laws supporting the private market
property - Answers - Legal right that allows a person to exclude others from his/her
resources
Public property
Private property
Common property - Answers - Types of ownership fences
jurisprudence - Answers - philosophies that explain origin of law and its justification
Common law and civil law
Public and private law
Civil law and criminal law
Substantive law and procedural law - Answers - Classification of Law
Common law - Answers - Emphasizes the role of judges in determining the meaning of
laws
Civil law - Answers - Relies on legislation than judicial decisions for law
Civil cases - Answers - Include suits for breach of contract or tort cases
Involve request for damages or appropriate relief
Criminal cases - Answers - A government representative attempts to prove the wrong
committed against society.
Result in punishment
, Substantive law - Answers - Defines the legal relationship of people with other people or
with the state
Procedural law - Answers - Method and means by which substantive law is made and
administered
federal law - Answers - - constitution
- legislation
- administrative law or regulation
state law - Answers - state constitution, statutes or acts, regulatory law of state
administrative agencies, ordinances
judicial decisions or case law - Answers - Interpret the constitutional, legislative, and
regulatory laws
Citation - Answers - Enables to locate the case in a library or computer databases
Stare decisis - Answers - Judges follow precedents whenever possible.
Ensures certainty and predictability in the law
Hierarchy of Sources of Law - Answers - U.S. Constitution and Amendments
Statutes of Congress
Federal administration regulation
State constitutions
State statutes
State administrative regulation
Local ordinances
Case law
Legal Sanctions - Answers - Methods used by law enforcement officials and courts to
encourage or force compliance with the obedience to the law
Remedy - Answers - Right of an individual to take another person's resources as that
person failed to meet the requirements of the law
punishments - Answers - Death
Imprisonment
Fine
Removal
Disqualification
crime - Answers - public wrong against society
Breach of contract - Answers - Failure to perform contractual promise
