business law exam 1

functions of the law

the primary purpose served by the law

keeping the peace

you don’t wanna jeopardize someone else’s peace

ex: some laws make certain activities crimmes

shaping moral standards

certain actions aren’t tolerated as a society; some actions might be legal but not ethical

ex:some laws discourage drugs and alcohol abuse

promoting social justice

laws should apply to everyone equally and everyone is treated equally

ex: some laws prohibit discrimination in employment

maintaining the status quo

laws have predictability and are designed to have stability; the government should operate with stability

ex: some laws prevent the forceful overthrow of the government

facilitating orderly change

Ex: laws are enacted only after considerable study, debate, and public input

facilitating planning

cities plan buildings and houses in a certain spot

ex: well-designed commercial laws allow businesses to plan their activities, allocate their productive resources, and assess risks they take

providing a basis for compromise

a mediator is provided to try to find compromise between two parties; they can force parties to attempt to settle case prior to having a trial

ex: laws allow for the settlement of cases prior to trial; 95% of all lawsuits are settled with compromise

maximizing individual freedom

we have laws that provide individual freedom without the intervention of our government

ex: the rights of freedom of speech, religion, and association are granted by the 1st amendment

constitution

the supreme law of the land

legislative branch

power to make law

executive

power to enforce lawj

judicial branch

power to interpret and determine the validity of the law

treaties

agreement between 2 or more nations that is formally signed by an authorized representative of each nation

statutes

written laws enacted by the legislative branch of the federal and state governments that ESTABLISHES certain courses of conduct that must be adhered to by covered parties

ex: federal and state

precedent

a rule of law established in a court decision. lower courts must follow the precedent established by the higher courts

influential but not controlling

common law

law that is based on decisions issued by other courts

executive orders

orders created by the executive branch

can ONLY be issued within the parameters in the authority given to the executive branch

order of precedence (in order)

constitution (1st)

treaties

codified law: statutes and ordinances (2nd)

executive order (3rd)

regulation and order to administrative agencies (4th)

judicial decisions (5th)ederf

federal statutes

statutes that apply to every state

state statute

statute that applies to only the border of the state

dual sovereignty

two systems of government happening at the same time - federal and stated r

road to housing act

prevented mega corporations from buying single family homes so that families are able to purchase them

stare decisis

to stand by the decision

promotes uniformity of the law and makes court systems more efficient

ethics

moral principles that govern a person’s behavior or the conducting of an activity

role morality

a person feels that their role gives permission to do something the person ordinarily would consider not moral

IRAC method

what is the legal ISSUE

what is the RULE

what is the courts APPLICATION and its rationale

what is the CONCLUSION / outcome of the case

sixth (criminal federal and state trials) amendment rights to jury trial

having the right to a jury if you have criminal charges

seventh (civil federal trials) amendment rights to jury trial

persons involved in a civil case in a federal court has a right to a jury trial

bench trial

a trial in which a (only) judge decides both questions of fact and questions of law in reaching a decision in a trial

salary compensation

fixed salary given to prosecutors who represent federal, state, or local governments in criminal

contingency fee basis compensation

the lawyer receives a % of the amount recovered for the plaintiff from the dependent for winning or settling a case

usually used in personal injury cases

hourly rate compensation

the client pays the atoners an hourly rate for The number of hours worked for then client

pleadings (1)

complaint, summons, service of process, answer (or default judgement)

discovery (2)

interrogatories, requests for production of documents, depositions, physical or mental examination

pretrial motions (3)

motion for judgement on the pleadings (can be appealed)

motion for summary judgment (can be appealed)

voir dire

the process whereby prospective jurors are asked questions by the judge and atoners to determine whether they would be biased in their decisions (“to speak the truth”)

peremptory strikes

a rule that permits each party to a lawsuit to dismiss a limited number of proposed jurors from becoming jurors without having to show that the dismissed individuals were biased

trial

opening statements, evidence, closing statements, verdict, entry of judgement

settlement conference

a hearing before a trial in order to facilitate the settlement of a case

statute of limitations

a statute that establishes the period during which a plaintiff must bring a lawsuit against a defendant

jury deliberation

when the jury breaks off and talks to each other about the case

appellate process

modifies or reverses if trial court made judicial error

generally no review findings of facts by a jury

error of law

an appellate court will reverse a lower court decision if it finds this in the record; the only grounds for an appeal

judge

trier of law; determines which evidence is legally admissible and appropriate wording of jury instructions

jury

tier of fact; reviews the evidence allowed in and determines which side is most persuasive

arbitration

a form of alternative dispute resolution in which the parties choose an impartial third party to hear and decide the dispute

typically binding

mediation

a form of alternative dispute resolution in which the parties use a mediator to assist in reaching a settlement of their dispute

federalism

the us form of government in which the federal government and the 50 state governments share powers

enumerated powers

certain powers delegated to the federal government

separation of powers

a doctrine that states that a government in the us constitution are reserved to the state governments

checks and balances

a System built into the us constitution to prevent anyone of the three branches from becoming to powerful

congressional powers (article 1, section 8)

enlists express powers that lists powers granted to the us congress and also grants congress power to enact laws that are nesecary and proper to implement its express powers

necessary and proper clause

a clause of the us constitution that grants the us congress the power to make federal laws that are necessary and proper to implement its express powers

supremacy clause

clause that establishes that the us constitution and federal treaties, laws, and regulations are the supreme law of the land

preemption doctrine

a doctrine that provides that federal law takes precedence over conflicting state or local lawso

commerce clause

grants congress the power “to regulate commerce with foreign nations, and among the several states, and with Indian tribes“

foreign commerce

vests congress the power ”to regulate commerce with foreign nations”

interstate commerce

commerce that moves between states or that affects commerce between states ilb

bill of rights

first 10 amendments; protects against intrusive governmental actions; does not restrict private business, club, or individual activity

fully protected speech

speech that the government cannot prohibit or regulate

limited protected speech

speech that is subject to time, place, and manner restrictions

unprotected speech

speech that is offensive to many members of society; it is subject to time, place, and manner restrictions

establishment clause

a clause that prohibits the government from either establishing a state religion or promoting one religion over another

free exercise clause

a clause that prohibits the government from interfering with the free exercise of religion in the US

ex: if a secular org receives benefits that religious org. is derived, that is a violation

strict scrutiny

a test that is applied to determine the constitutionality of classifications by the government based on suspected class

ex: race, national origin, religion

intermediate scruntiny

a test that is applied to determine the constitutionality of classifications by the government based on GENDER

rational basis test

a test that is applied to determine the constitutionality of classifications by the government that are NOT based on a suspected class, a fundamental right, or a protected class

ex: age, government regulation

substantive due process

requires government statutes, ordinances, and regulations be clear on their face and not overly broad; vagueness is not allowed

procedural due process

the government must give a person proper notice and hearing of legal action before depriving someone of their life, liberty, or property

eminent domain (takings clause of the 5th amendment )

allows the government to take private property for a public use/purpose

must provide fair compensation

prosecutors have the burden of providing what?

proving crime beyond a reasonable doubt (civil trials have a lesser burden of proof, by a preponderance of the evidence)

forgery

the fraudulent making or alteration of a written document that affects the legal liability of another person

ex: forging someones signature

embezzlement

the fraudulent conversion of property by a person whom that property was entrusted

bribery

a crime where one person gives money, property or favors or anything of value in exchange for a favor in return

ex: payoff or kickback

extortion

a threat to expose something about another person or harm another person unless that person gives you money or property

ex: blackmail

criminal fraud

a crime that involves obtaining title to property through deception

ex: defendant makes a false statement

mail fraud

fraud received through the mail

wire fraud

fraud received through calls

electronic fraud

fraud received through computer

money laundering

process of engaging in financial transactions to disguise or conceal the illegal source of unlawfully obtained funds

double jeopardy

each sovereign has a right to prosecute a defendant once; prevents a sovereign from bringing more than one criminal lawsuit against the same defendant for the same criminal act

environmental responsibility

the belief that organizations should behave in as environmentally friendly a way as possible

ethical responsibility

concerned with ensuring an organization is operating in a fair and ethical manner

philanthropic responsibility

refers to a business’s aim to actively make the world and society a better place

economic responsibility

practice of a firm backing all of its financial decisions in its commitment to do good

self serving bias

the tendency people have to process information in ways that advance their own self interest or support their pew-existing views