FIRST PUBLISH SEPTEMBER 2024
FGCU BUL 3130 Exam 1 Study Guide
with Complete Solutions
law - Answer✔✔-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 - Answer✔✔-the science or philosophy of law
counsel - Answer✔✔-(attorney)
business owners and managers work with counsel in one of two formats:
1. in-house counsel
2. law firms
statutory law - Answer✔✔-The body of law created by the legislature and approved
by the executive branch of state and federal government
ordinances - Answer✔✔-written laws at local level, generally regulate issues such as
zoning/health & safety regulations
plain meaning rule - Answer✔✔-if words in statute have clear/understood meanings,
court will apply it in accordance with rule
statutory scheme - Answer✔✔-the structure of a statute and the format of its
mandates
common law - Answer✔✔-law that is made by the courts, not the legislature
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FIRST PUBLISH SEPTEMBER 2024
administrative law - Answer✔✔-source of law that regulates the exercise of authority
by government agencies
(AKA agency law)
stare decisis - Answer✔✔-the principle that similar cases with similar facts and issues
should have the same judicial outcome
precedent - Answer✔✔-applying the law made in previous cases to current cases
with similar facts
secondary sources of law - Answer✔✔-1. restatements of the law
2. model state statutes drafted legal experts as a model for state legislatures to adopt
**secondary sources have no independent authority, nor are they legally binding
criminal law - Answer✔✔-designed to protect society that result in penalties to the
violator such as fines or imprisonment
civil law - Answer✔✔-laws designed to compensate parties for losses (ex: money) as
a result of another's conduct
substantive law - Answer✔✔-provide individuals with rights and create certain duties
procedural law - Answer✔✔-provide a structure and set out rules for pursuing
substantive rights
equitable remedies - Answer✔✔-generally include an injunction or restraining order
public law - Answer✔✔-laws derived from some government entity
private law - Answer✔✔-laws recognized as binding between two parties even
though no specific statute or regulation provides for the rights of the parties
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