business law Collin College -Unit 1 Business Law fully solved

business law Collin College -Unit 1 Business Law fully solvedLaw - correct answer Rule of civil conduct commanding what is right and prohibiting what is wrong. Business Law - correct answer Those rules of conduct prescribed by a government and it's agencies, in regulating business transactions. Common Law - correct answer Customs which have become recognized by the courts as binding on the community. 49 of 50 states based on Common Law (English). Louisiana based on Canon Law (French) Plaintiff - correct answer The individual who initiates a civil action Defendant - correct answer The person against whom legal action is brought Stare Decisis - correct answer The principle that the decision of a higher court should serve as a guide or precedent and control the decision of a similar case in the future Statutes - correct answer Laws which are enacted by legislative bodies (Federal and State Government) Ordinance - correct answer Law enacted by a local government entity (towns and county) Petition(Complaint) - correct answer A written request that initiates a civil suit Process ( Summons) - correct answer A notice given to a defendant, attaching the complaint and stating a time frame in which an answer must be filed or an appearance made Discovery - correct answer Pretrial steps taken to learn the details of the case