Exam (elaborations)
BUS 404 MIDTERM 1 ANDERSON EXAM/221 QUESTIONS WITH DETAILED SOLUTIONS
- Course
- Institution
BUS 404 MIDTERM 1 ANDERSON EXAM/221 QUESTIONS WITH DETAILED SOLUTIONS
[Show more]
Content preview
BUS 404 MIDTERM 1 ANDERSONEXAM/221 QUESTIONS WITH DETAILED
SOLUTIONS
definition of law - -1. Predictions of the way in which a court will decide
specific legal questions
2. A rule of civil conduct prescribed by the supreme power in a state, which
commands what is right, and prohibits what is wrong
-Meanings of Law - -1. The legal order of society
2. The aggregate of laws or legal precepts
3. The judicial process
-Function of Law - -to maintain stability in the social, political, and economic
system through dispute resolution, protection of property, and the
preservation of the state, while simultaneously permitting ordered change
-disputes - -may involve criminal or noncriminal matter; the law has an
elaborate set of rules to resolve them
-Protection of Property - -includes law of property, contracts, sales,
commercial paper, and business associations
-Preservation of State - -In the United States, the law ensures orderly
changes in our leadership
-Law and Justice - -two separate and distinct concepts, but without law,
there can be no justice
-justice - -the fair, equitable, and impartial treatment of the competing
interests of individuals with regard for the common good
-right - -the capacity of a person, with the aid of the law, to require another
person or persons to perform, or to refrain from performing, a certain act
-duty - -the obligation the law imposes upon a person to perform, or refrain
from a certain act
-substantive law - -Law that defines, describes, regulates, and creates legal
rights and obligations.
-Procedural Law - -Law that establishes the methods of enforcing the rights
established by substantive law.
, -Substantive vs. Procedural Law - -- *Substantive law* is the "what" that
defines, regulates, and creates legal rights.
- *Procedural law* is "how" to enforce your rights, how the process of
enforcing the law goes, and establishes penalties or remedies.
-Public Law - -is the branch of substantive law that deals with the gov't's
rights and powers and its relationship to individuals or groups
- Consists of constitutional, administrative, and criminal law
-Private Law - -is the part of substantive law governing individuals and legal
entities (corporations) in their relationships to one another
-Civil Law - -defines duties, the violation of which constitutes a wrong
against the party injured by the violation
-Criminal Law - -establishing duties, the violation of which is a wrong
against the whole community
-supreme law - -Law that takes precedence over all conflicting laws
-Constitiution - -the fundamental law of a particular level of gov't that
establishes the governmental structure and allocates power among levels
-Judicial Review - -the power of the courts to determine the constitutionality
of legislative and executive acts
-Common Law System - -body of law originating in England and derived
from judicial decisions
-adversary system - -a system of law where the court is seen as a neutral
area where disputants can argue the merits of their cases
-Civil Law System - -A system of law based on a very detailed set of written
laws and codes.
-inquisitorial system - -a system where the judiciary initiates litigation,
investigate pertinent facts, and conducts the presentation of evidence
-stare decisis - -where courts adhere to and rely on rules of law that they
relied on in prior similar decisions
-two uses of judicial decisions - -1. To determine with finality the case
currently being decided.
2. To indicate how the court will decide similar cases in the future.
, -court of equity - -A court that decides controversies and administers justice
according to the rules, principles, and precedents of equity.
-decree - -(n.) an order having the force of law; (v.) to issue such an order;
to command firmly or forcefully
-injunction - -An order which legally prevents something
-Specific Performance - -A legal action to compel a party to carry out the
terms of a contract.
-Maxims - -general legal principles formulated by equity courts over the
years
-comparison of law - -Availability: Generally
Precedents: Stare Decisis
Jury:: If either party demands
Remedies: Judgement for monetary damages
-comparison of equity - -Availability: Discretionary
Precedents: Equitable maxims
Jury: None
Remedies: Decree of specific performance, injunction, reformation, and
recession
-Uniform Commercial Code (UCC) - -a comprehensive statutory scheme that
includes laws that cover aspects of commercial transactions
-Treaty - -A formal agreement between two or more sovereign states
-executive orders - -Formal orders issued by the president or governors to
direct action by the federal bureaucracy.
-administrative law - -The body of law created by administrative agencies
(in the form of rules, regulations, orders, and decisions) in order to carry out
their duties and responsibilities.
-Restatements 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.
-Hierarchy of Law - -U.S. Constitution: treaties and federal statutes: federal
administrative law: federal common law: state constitution: state statutes:
state administrative law: state common law
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 Nursephil2023. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now