Business Law Ch. 1-4

Spring 2026

FCPA

Foreign Corrupt Policies Act - Prohibits the bribing of foreign officials by US companies.

Inflation Reduction Act

Helps to reduce the federal deficit and aims to enhance clean energy

One Big Beautiful Bill Act

Cut taxes on low-income families, seniors, tips, and reduced medicaid as well as costs for developing fossil fuels.

Public Law

Laws between people, businesses, and their governments

Private Law (Civil Law)

Laws governing disputes between people (issues excluding the government)

Substantive Law

Defines rights and responsibilities of individuals to establish legal conduct

Procedural Law

Rules of the legal systems operations

Compliance Program

Framework of company policies that adhere to applicable laws in order to minimize legal risks within the company

Doctrine of Judicial Immunity

Grants judges and officials immunity from suit or damages for judicial acts

Original Jurisdiction

Initial resolution of the dispute before any appeals (first hearing)

District Court

Federal trial court with a jury

Magistrate

Manage lower-level legal matters and pre-trial motions (bail, fines, warrants, etc.)

Circuit Court

US court of appeals → Handle appeals from district court (Based geographically)

En Banc Proceeding

Proceedings where all active judges hear a case together

Writ of Certiorari

Supreme Court agreeing to hear a case on appeal

Trial De Novo

Appellate court hearing a case from its beginning (complete retrial)

West Virginia v. EPA

Established the “major questions clause”, requiring congressional backing for vast economic and political regulations

Chevron Doctrine

Held that if a congressional law is vague, courts accept the federal agencies interpretation (overturned in 2024)

Subject-Matter Jurisdiction

Authority over the type of dispute that can be heard depending on it’s subject

Personal Jurisdiction (In Personam)

Where you can sue and be sued (need contacts to the state)

Long-arm Statute

Permits personal jurisdiction over non-residents (Headquartered, main operations, conduct in the state, etc.)

Mallory v. Norfolk

Supreme Court rejects a challenge of Pennsylvania law allowing companies doing business in the state to be sued there → A condition of registering to do business in the state was consenting to personal jurisdiction there

Diversity Jurisdiction

Parties from different jurisdictions (states or jurisdiction) → They can go to federal court if the amount in controversy exceeds $75k

Service of Process

Delivery of a complaint/summons of a specific court (typically personal service → in-person)

Default Judgement

Ruling in the plaintiffs favor if the defendant fails to appear

In Rem Jurisdiction

Legal authority over property of the defendant

Exclusive Jurisdiction

Sole authority of a specific court

Concurrent Jurisdiction

Multiple courts with authority, allowing the plaintiff to choose which one

Conflict-of-law

Circumstance where a court decides what state laws to apply to the case (Choice-of-law is the decision that is made)

Forum

Which court system hears the case (Federal or State)

Venue

Geographic location within the chosen forum (Ex: Charleston or Greenville for state)

Forum Non Conveniens

Inconvenient forum declining the jurisdiction (Ex: Going where both parties reside because it is more convenient than where the problem occurred)