FGCU BUL 3130 EXAM 1 QUESTIONS AND CORRECT ANSWERS | LATEST UPDATE

law -:- a body of rules of action or conduct prescribed by controlling authority and having binding legal force -creates duties, obligations, and rights that reflect accepted views of a given society jurisprudence -:- the science or philosophy of law counsel -:- (attorney) business owners and managers work with counsel in one of two formats: 1. in-house counsel 2. law firms 2 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain | Excel! statutory law -:- The body of law created by the legislature and approved by the executive branch of state and federal government ordinances -:- written laws at local level, generally regulate issues such as zoning/health & safety regulations plain meaning rule -:- if words in statute have clear/understood meanings, court will apply it in accordance with rule statutory scheme -:- the structure of a statute and the format of its mandates common law -:- law that is made by the courts, not the legislature 3 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain | Excel! administrative law -:- source of law that regulates the exercise of authority by government agencies (AKA agency law) stare decisis -:- the principle that similar cases with similar facts and issues should have the same judicial outcome precedent -:- applying the law made in previous cases to current cases with similar facts secondary sources of law -:- 1. restatements of the law 2. model state statutes drafted legal experts as a model for state legislatures to adopt 4 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain | Excel! **secondary sources have no independent authority, nor are they legally binding criminal law -:- designed to protect society that result in penalties to the violator such as fines or imprisonment civil law -:- laws designed to compensate parties for losses (ex: money) as a result of another's conduct