Business Law - The enforceable rules of conduct that govern the actions of buyers and sellers in market exchanges
Law - rules of conduct in any organized society that are enforced by the governing authority of the community
Private law - law that involves suits between private individuals or ...
Busi 561 Chap 1-3 Questions and
Answers graded A
Business Law - The enforceable rules of conduct that govern the actions of buyers
and sellers in market exchanges
Law - rules of conduct in any organized society that are enforced by the governing
authority of the community
Private law - law that involves suits between private individuals or groups
Public Law - Law that involves suits between private individuals or groups and
their government
Civil Law - The body of laws that govern the rights and responsibilities either
between persons or between persons and their government
Criminal Law - The body of laws that involve the rights and responsibilities an
individual has with respect to the public as a whole
Constitutional law - The general limits and powers of the government as
interpreted from it's written constitution
Statutory law - The assortment of rules and regulations put forth by legislatures
Model laws - Laws created to account for the variability of laws among states.
These laws serve to standardize the otherwise different interstate laws. Also called
uniform laws.
, Case Law - The collection of legal interpretation is made by judges. They are
considered to be law unless otherwise revoked by statutory law. Also known as
common law
Precident - A tool used by judges to make rulings on cases on the basis of key
similarities to previous cases
stare decisis - Standing by the decision; a principal stating that rolls made in higher
courts are binding president for lower courts
Restatement of the law - Summaries of common law rules in a particular area of
the law. Restatements do not carry the weight of law but can be used to guide
interpretations of particular cases.
Administrative law - The collection of rules and decisions made by administrative
agencies to feel in particular details missing from constitutions and statutes
Natural law - A school of jurisprudence that recognizes the existence of higher law,
or law that is morally superior to human lives
Legal positivism - School of jurisprudence that holds that because society requires
authority, illegal and authoritarian hierarchy should exist. When a law is made,
therefore, obedience is expected because authority created it
Identification with the vulnerable - A school of jurisprudence that whole is that
society should be fair. Particular attention is therefore paid to the poor, the ill and
the elderly.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller CleanA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
