Business law notes

Primary sources of law

Constitutional law, statutory law, administrative law, and case law are considered primary sources of law.

Constitutional law

The body of law derived from the Constitution, including both federal and state constitutions.

Statutory law

Laws enacted by legislative bodies at the federal, state, and local levels.

Administrative law

Rules and regulations created by administrative agencies.

Case law

Law established by the outcome of former court cases, including common law.

Common law

Body of law derived from custom and judicial decisions, rather than statutes.

Stare decisis

Legal principle that mandates courts to follow previous rulings in similar cases.

Legal reasoning

The process of applying the law to a set of facts to arrive at a conclusion.

IRAC

A method used in legal analysis, standing for Issue, Rule, Application, Conclusion.

Binding authority

Legal precedent that must be followed by lower courts within its jurisdiction.

Substantive law

Law that defines rights and duties of individuals and collective bodies.

Procedural law

Law governing the methods and means by which substantive law is enforced.

Civil law

A legal system focused on resolving disputes between private individuals.

Criminal law

Law governing crimes and their prosecution by the state.

Unanimous decision

A court decision in which all judges agree on the outcome.

Majority decision

A court ruling where the majority of judges agree on the outcome.

Concurring opinion

An opinion that agrees with the majority decision but for different reasons.

Dissenting opinion

An opinion that disagrees with the majority ruling.

Plurality opinion

A court opinion agreed upon by the largest number of judges, but not a majority.

Per curiam opinion

A ruling issued in the name of the court rather than a specific judge.

Legal remedy

Compensation provided to a party in a legal dispute.

Equitable remedy

Court order that requires an individual to do or refrain from doing a specific act.

Privileges and immunity clause

Provision that prohibits states from discriminating against citizens from other states.

Full faith and credit clause

Constitutional requirement that states honor the public acts, records, and judicial proceedings of every other state.

Heart of Atlanta Motel vs US

The Supreme Court ruled that Congress could use the Commerce Clause to prohibit racial discrimination in public accommodations.

Preemption

Legal doctrine that allows a higher authority to invalidate laws made by a lower authority.

Dormant commerce clause

Legal principle preventing states from passing discriminatory laws affecting interstate commerce.

Content neutral law

A law that regulates speech without regard to the message conveyed.

Strict scrutiny

The highest standard of judicial review for assessing the constitutionality of laws.

Intermediate scrutiny

Moderate standard of review for laws related to important governmental interests.

Rational basis

The lowest standard of judicial review for assessing the constitutionality of laws.

1st amendment

Constitutional amendment protecting freedoms of speech, religion, press, assembly, and petition.

4th amendment

Constitutional protection against unreasonable searches and seizures.

5th amendment

Constitutional protection against self-incrimination and guarantees due process.

Due process

Legal requirement that the state respects all legal rights owed to a person.

Jurisdiction

The official power of a court to make legal decisions and judgments.

Rem jurisdiction

Court's authority over a specific item of property rather than over persons.

Sufficient minimum contacts

Legal standard allowing jurisdiction over an out-of-state defendant.

Writ of certiorari

Order from a higher court to review the proceedings of a lower court.

Venue

The appropriate geographical location for a trial.

Standing

A party's right to make a legal claim or seek judicial enforcement.

Long arm statutes

Laws allowing local courts to reach out to defendants outside of their state.

Alternative dispute resolution

Methods of resolving disputes outside traditional litigation, including negotiation, mediation, and arbitration.