BLAW 341 PSU EXAM 1 – Grieves
Questions and Answers 100% Solved
Analyzing Cases - FIRAC Method - ✔✔1. find FACTS of the case
2. look for the legal ISSUES
3. decide which RULE of law applies
4. use the rule and APPLY it to the case
5. CONCLUDE your findings
Law - ✔✔a set of enforceable rules that regulates the conduct of
individuals, businesses and other organizations within society
How does the law serve society? - ✔✔- keeps the peace (prevents conflict)
- create a set of rules people can refer to
- gives protected property rights
Liability - ✔✔The state of being legally responsible (liable) for something,
such as a debt or obligation.
Businesses must think about... - ✔✔- risk of loss
- many different laws affect a single business transaction
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,legal concepts are useful for business persons in the following fields: - ✔✔-
corporate management
- production and transportation
- marketing
- Research and development
- Accounting and finance
- Human resource management
2 major sources of American Law - ✔✔- Primary source
- Secondary source
Primary source - ✔✔a document that establishes the law on a particular
issue; follow primary source first before moving on to secondary source
Example of Primary Sources - ✔✔- US Constitution and constitutions of
various states
- Statutory law
- Administrative law
- Case law
U.S. Constitution and constitutions of various states - ✔✔- creates the
structure that all other law is based upon; if a law conflicts with the
Constitution, the Constitution always wins
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,- state constitutions can ADD more protections to US Constitution, but
cannot conflict with it
Statutory Law - ✔✔laws passed by US Congress, state legislatures, and
local governing bodies
Administrative Law - ✔✔- regulations created by administrative agencies
(ex. SEC, IRS, FDA)
Case Law pt 1 - ✔✔- court decisions
- in civil law countries (France, China, Italy) this type of primary source
does not exist; courts do not produce primary sources
Secondary source - ✔✔a publication that summarizes or interprets the law,
such as legal encyclopedia, a legal treatise, or and article in a law review
Case Law - ✔✔- Case law consists of judicial interpretations of
constitutional provisions, statutes and administrative regulations.
- doctrines and principles announced in cases - governs all areas NOT
covered by statutory law or administrative law.
- Case law is part of the common law tradition.
Common Law tradition - ✔✔Early English courts
- kings courts started after Norman conquest of 1066
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, - Established the common law- body of general legal principles applied
throughout the English Empire
- Kings court used precedent to build the common law
As legislatures continue to enact laws today... - ✔✔we begin to "erase" or
update the common laws regarding the same decision. If legislation is
passed it wins over common law.
Stare Decisis - ✔✔"to stand on decided cases" (if there is a precedent, the
courts follow that precedent)
Judges are obligated to follow the precedent within their jurisdicitions - ✔✔-
a higher courts decision based on certain facts and law, is a binding
authority on lower courts
- courts may depart from the rule of precedents
Stare Decisis helps courts... - ✔✔stay efficient and makes the law more
stable, predictable, and durable
Remedy - ✔✔means to enforce a right or compensate for injury to that
right. Most common is money damages
Remedies at Law - ✔✔in king's courts, remedies were restricted to
damages in either money or property
Remedies in equity - ✔✔- founded on notions of justice and fair dealing.
4
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
Questions and Answers 100% Solved
Analyzing Cases - FIRAC Method - ✔✔1. find FACTS of the case
2. look for the legal ISSUES
3. decide which RULE of law applies
4. use the rule and APPLY it to the case
5. CONCLUDE your findings
Law - ✔✔a set of enforceable rules that regulates the conduct of
individuals, businesses and other organizations within society
How does the law serve society? - ✔✔- keeps the peace (prevents conflict)
- create a set of rules people can refer to
- gives protected property rights
Liability - ✔✔The state of being legally responsible (liable) for something,
such as a debt or obligation.
Businesses must think about... - ✔✔- risk of loss
- many different laws affect a single business transaction
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,legal concepts are useful for business persons in the following fields: - ✔✔-
corporate management
- production and transportation
- marketing
- Research and development
- Accounting and finance
- Human resource management
2 major sources of American Law - ✔✔- Primary source
- Secondary source
Primary source - ✔✔a document that establishes the law on a particular
issue; follow primary source first before moving on to secondary source
Example of Primary Sources - ✔✔- US Constitution and constitutions of
various states
- Statutory law
- Administrative law
- Case law
U.S. Constitution and constitutions of various states - ✔✔- creates the
structure that all other law is based upon; if a law conflicts with the
Constitution, the Constitution always wins
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,- state constitutions can ADD more protections to US Constitution, but
cannot conflict with it
Statutory Law - ✔✔laws passed by US Congress, state legislatures, and
local governing bodies
Administrative Law - ✔✔- regulations created by administrative agencies
(ex. SEC, IRS, FDA)
Case Law pt 1 - ✔✔- court decisions
- in civil law countries (France, China, Italy) this type of primary source
does not exist; courts do not produce primary sources
Secondary source - ✔✔a publication that summarizes or interprets the law,
such as legal encyclopedia, a legal treatise, or and article in a law review
Case Law - ✔✔- Case law consists of judicial interpretations of
constitutional provisions, statutes and administrative regulations.
- doctrines and principles announced in cases - governs all areas NOT
covered by statutory law or administrative law.
- Case law is part of the common law tradition.
Common Law tradition - ✔✔Early English courts
- kings courts started after Norman conquest of 1066
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, - Established the common law- body of general legal principles applied
throughout the English Empire
- Kings court used precedent to build the common law
As legislatures continue to enact laws today... - ✔✔we begin to "erase" or
update the common laws regarding the same decision. If legislation is
passed it wins over common law.
Stare Decisis - ✔✔"to stand on decided cases" (if there is a precedent, the
courts follow that precedent)
Judges are obligated to follow the precedent within their jurisdicitions - ✔✔-
a higher courts decision based on certain facts and law, is a binding
authority on lower courts
- courts may depart from the rule of precedents
Stare Decisis helps courts... - ✔✔stay efficient and makes the law more
stable, predictable, and durable
Remedy - ✔✔means to enforce a right or compensate for injury to that
right. Most common is money damages
Remedies at Law - ✔✔in king's courts, remedies were restricted to
damages in either money or property
Remedies in equity - ✔✔- founded on notions of justice and fair dealing.
4
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
