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Terms in this set (38)
Judicial decisions often include interpretations of
statues and administrative regulations, as well as the
reasoning they used to arrive at a decision.
Precedent (Ch. 1)
Such reasons relies heavily on precedent, past
decisions in similar cases that guide later decisions
thereby providing greater stability and predictability
to the law.
When courts rely on precedent, they are obeying the
principle of stare decisis ("standing by their
decisions"), in which rulings made in higher courts
become binding precedent for lower courts. 9
Stare Decisis
When an issue is brought before a state court, the
court will determine whether the state supreme court
has made a decision on a similar issue, which creates a
binding precedent or pattern of law the lower court
must follow.
The application of ethics to the special problems and
Business Ethics (ch. 2)
opportunities experience by business people.
The law both affects and is affected by evolving
ethical patterns.
Business ethics builds on
business law but business law provides only a floor for business
ethics, telling the business leaders the minimally
acceptable course of action.
, In personam jurisdiction The power of a court to render a decision affecting a
(ch. 3) person's legal rights.
The power of a court to render a decision in a
particular type of case.
Subject-matter jurisdiction
The three forms of Subject-matter jurisdiction are
state, exclusive federal, and concurrent.
refers to resolution of legal disputes through methods
Alternative Dispute other than litigation, such as negotiation, mediation,
Resolution (ch. 4) arbitration, summary jury trials, minitrials, neutral case
evaluations, and private trials.
why might a business prefer to resolve a dispute
through ADR rather than litigation?
Benefits of ADR
First, ADR methods are generally faster and cheaper
than litigation.
For business people and corporations, the 5th
amendments due process clause provides extensive
protection.
Due Process (ch. 5)
this clause states that government cannot deprive a
person of life, liberty or property without due process
of law.
Procedural due process - requires that the govt use
Due process clause fair procedures when taking the life, liberty, or
guarantees two types of property of an individual or corporation.
due process: procedural
and substantive Substantive due process - refers to the basic fairness
of laws that may deprive an individual of life or liberty.
Ordinarily to obtain the necessary arrest warrant, the
Pretrial Criminal agent must demonstrate that there is probable cause,
Procedure (ch. 7) or likelihood, that a suspect committed or is planning
to commit a crime.