BUL 4421 Midterm Exam FAU Gendler
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Terms in this set (227)
Chapter 1: Introduction to Chapter 1: Introduction to Business Law
Business Law
Relevant areas of business 1. Agency law
law applicable to human 2. Contracts
recourse management 3. Employment and labor laws
involve (4): 4. Employment discrimination
This type of law regulates Private law
disputes between private
individuals or groups.
(Ex: dispute between
landlord and tenant
governed by private law).
This type of law regulates Public law
disputes between private
individuals and
government.
(Ex: dumping in violation
of state or federal
environmental laws).
This type of law delineates Civil law
the rights and
responsibilities implied in
relationship between
persons, or between
person and their
government.
,This type of law regulates Criminal law
incidents in which
someone commits an act
against the public as a
whole, such as by
conducting insider trading
on the stock exchange.
- Government is plaintiff
Put these laws in order of - U.S. Constitutions
Hierarchy of Laws: States - Federal Statutes
Statutes, U.S. - State Constitution
Constitutions, Common - State Statutes
Law, state constitution, - Common Law
and Federal Statutes
Collection of legal Common Law (aka Case Law)
interpretations made by
judges, and are law unless
revoked by new statutory
law.
Past decisions in similar Precedent
cases that guide later
decisions thereby
providing greater stability
and predictability to the
law.
A principle stating that Stare Decisis
rulings made in higher
courts are binding
precedent for lower
courts. Latin for "standing
by the decision."
,1. Summaries of common Restatements of the Law
law rules in a particular
area of the law that have
been enacted in most
states.
2. They do not carry the
weight of the law but
guide interpretations of
certain principles.
Certain habits of mind and Schools of Jurisprudence
specific beliefs about
human nature. Beliefs are
deeply rooted within a
person's emotions and
habits, and thus they are
sure to guide one's
opinions and decisions.
Such beliefs may be
commonly held and
create much larger
schools of thought thus
they are more common
guides to legal
interpretation.
1. Cost benefit analysis
2. Historical School
Name the (5) Schools of
3. Legal Positivism
Jurisprudence: CHiLLiN
4. Legal Realism
5. Natural Law
The school of Natural Law
jurisprudence that
recognizes the existence
of higher law, or law that is
morally superior to human
laws.
, The school of Legal Positivism
jurisprudence which holds
that because society
requires authority, a legal
and authoritative hierarchy
should exist. When a law is
made, therefore,
obedience is expected
because authority
created it.
1. Must abide by duly
authorized law
2. Law is distinct from
morality
3. Moral questions about
the law should not
interfere with our
inclination to obey it.
4. A judge may write that
she is deciding to enforce
the law in question but
that her decision does not
necessarily mean she sees
the law as the morally
correct rule.
A school of jurisdiction Historical School (aka tradition or custom)
that:
1. Follows tradition or
custom to shape the law
2. Is closely linked with the
doctrine of stare decisis
3. We assume past
practice was the product
of careful thought.
Save
Terms in this set (227)
Chapter 1: Introduction to Chapter 1: Introduction to Business Law
Business Law
Relevant areas of business 1. Agency law
law applicable to human 2. Contracts
recourse management 3. Employment and labor laws
involve (4): 4. Employment discrimination
This type of law regulates Private law
disputes between private
individuals or groups.
(Ex: dispute between
landlord and tenant
governed by private law).
This type of law regulates Public law
disputes between private
individuals and
government.
(Ex: dumping in violation
of state or federal
environmental laws).
This type of law delineates Civil law
the rights and
responsibilities implied in
relationship between
persons, or between
person and their
government.
,This type of law regulates Criminal law
incidents in which
someone commits an act
against the public as a
whole, such as by
conducting insider trading
on the stock exchange.
- Government is plaintiff
Put these laws in order of - U.S. Constitutions
Hierarchy of Laws: States - Federal Statutes
Statutes, U.S. - State Constitution
Constitutions, Common - State Statutes
Law, state constitution, - Common Law
and Federal Statutes
Collection of legal Common Law (aka Case Law)
interpretations made by
judges, and are law unless
revoked by new statutory
law.
Past decisions in similar Precedent
cases that guide later
decisions thereby
providing greater stability
and predictability to the
law.
A principle stating that Stare Decisis
rulings made in higher
courts are binding
precedent for lower
courts. Latin for "standing
by the decision."
,1. Summaries of common Restatements of the Law
law rules in a particular
area of the law that have
been enacted in most
states.
2. They do not carry the
weight of the law but
guide interpretations of
certain principles.
Certain habits of mind and Schools of Jurisprudence
specific beliefs about
human nature. Beliefs are
deeply rooted within a
person's emotions and
habits, and thus they are
sure to guide one's
opinions and decisions.
Such beliefs may be
commonly held and
create much larger
schools of thought thus
they are more common
guides to legal
interpretation.
1. Cost benefit analysis
2. Historical School
Name the (5) Schools of
3. Legal Positivism
Jurisprudence: CHiLLiN
4. Legal Realism
5. Natural Law
The school of Natural Law
jurisprudence that
recognizes the existence
of higher law, or law that is
morally superior to human
laws.
, The school of Legal Positivism
jurisprudence which holds
that because society
requires authority, a legal
and authoritative hierarchy
should exist. When a law is
made, therefore,
obedience is expected
because authority
created it.
1. Must abide by duly
authorized law
2. Law is distinct from
morality
3. Moral questions about
the law should not
interfere with our
inclination to obey it.
4. A judge may write that
she is deciding to enforce
the law in question but
that her decision does not
necessarily mean she sees
the law as the morally
correct rule.
A school of jurisdiction Historical School (aka tradition or custom)
that:
1. Follows tradition or
custom to shape the law
2. Is closely linked with the
doctrine of stare decisis
3. We assume past
practice was the product
of careful thought.
