Business law BADM 7140
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Terms in this set (148)
Define Law A set of enforceable rules that govern 1) the
relationship between individuals and 2) the
relationship between people and society
15 sources of Law International law, federal constitution, federal
executive order, federal statute, federal cases,
federal regulations, state constitution, state
executive order, state statute, state civil code,
state cases, state regulations, ordinances, works
of scholars, private party contracts, trade usage
(industry practices)
, Natural law Divine law, higher code of interest
Positive law Written law
Federal court power Court with limited power, but supreme power.
Hear cases with diversity and > $75,000. Also
hear federal bankruptcy, federal questions, suits
against ambassadors, maritime/admiralty cases,
and federal tax cases.
State court power Court that can hear virtually any type of case
(general SMJ)
Standing to Sue A party must have a legally protected, tangible
interest at stake.
Save
Practice questions for this set
Learn
Studied 7 terms
Nice work, you're crushing it
, Continue studying in Learn
Terms in this set (148)
Define Law A set of enforceable rules that govern 1) the
relationship between individuals and 2) the
relationship between people and society
15 sources of Law International law, federal constitution, federal
executive order, federal statute, federal cases,
federal regulations, state constitution, state
executive order, state statute, state civil code,
state cases, state regulations, ordinances, works
of scholars, private party contracts, trade usage
(industry practices)
, Natural law Divine law, higher code of interest
Positive law Written law
Federal court power Court with limited power, but supreme power.
Hear cases with diversity and > $75,000. Also
hear federal bankruptcy, federal questions, suits
against ambassadors, maritime/admiralty cases,
and federal tax cases.
State court power Court that can hear virtually any type of case
(general SMJ)
Standing to Sue A party must have a legally protected, tangible
interest at stake.
