Introductory Business Law (CLEP) Latest Update Graded A+

Introductory Business Law (CLEP) Latest Update Graded A+ law a representation of a set of rules or principles established by government or other controlling body that members of society must follow and obey legal system a system of established laws civil law (code law) a legal system which has a single comprehensive code as the core of its law common law (case law) judge-made law, whereby judges make decisions on a case-by-case basis, and those decisions generate a body of rules and principles precedent previous decisions that set an example or guide for future cases stare decisis the notion that judges must make decisions based on precedent Congress the legislative branch of the US Supreme Court the highest federal court in the US judicial review the doctrine by which a higher court can overturn a decision made by a lower court checks and balances the system whereby each branch of the US government has specific power and authority so that they balance (or check) the power exercised by other branches Bill of Rights the first ten amendments to the US Constitution; meant to protect citizens from government intrusion Necessary and Proper Clause a clause in the US Constitution that gives power to Congress to make laws that are deemed "necessary" for the upholding of the Constitution Supremacy Clause a clause in the US Constitution that establishes that federal law supersedes all state laws uniform laws an effort to harmonize all state law by unifying legislation on a given topic Uniform Commercial Code ("UCC") an organization that seeks to establish uniform laws for various aspects of commercial law commercial speech speech regarding commercial or economic activities strict scrutiny a form of judicial review that requires a law to further "a compelling government interest" and that the law must serve a narrow purpose Due Process Clause a clause in the US Constitution that protects a person from being "deprived of life, liberty or property without *due process*"