BUS BUSINESS LAW UNIT 1: THE LEGAL ENVIRONMENT

precedent

The tendency to decide current cases based on previous rulings

(The doctrine of precedent, which developed gradually over centuries, requires that judges a decide current cases based on previous rulings.)

• precedent is binding only on lower courts

common law

judge-made law

(The accumulation of precedent, based on case after case, makes up the common law)

Legislative Power

gives the ability to create new laws

Executive Power

the authority to enforce laws

Judicial power

gives the right to interpret laws and determine their validity

statutes

a law created by legislature (statutory law) that can cover absolutely any topic, so as long as they do not violate the Constitution

stare decisis

The principle that precedent is binding on later cases, which means “let the decision stand”

• makes the law predictable and this, in turn, enables businesses and private citizens to plan intelligently

injunction

an example of a court order that places binding obligations on a specific people or businesses; can require people to do things, like perform on a contract or remove a nuisance

treaty

an agreement between two or more sovereign countries (once ratified, they are binding and have the force of federal law)

criminal law

concerns behavior so threatening that society outlaws it altogether

• most criminal laws are statutes, passed by Congress or a state legislature

civil law

regulated the rights and duties between parties

jurisprudence

the philosophy of law

This philosophy can be simply stated: Law is what the sovereign says it is.

sovereign

is the recognized political power whom citizens obey, so in the United States, both state and federal governments are sovereign

legal positivism

Law is what the sovereign says.

a theory in philosophy that says the existence and content of law depend on social facts - such as human commands, legislation, and social conventions - rather than on any inherent or necessary connection to moral principles

• primary criticism: it seems to leave no room for questions of morality

voter referendum

the allowing of citizens in a state to pass laws directly at the ballet box (ex. Proposition 187)

natural law

An unjust law is no law at all

Legal Realism

Who enforces the law and by what process it is enforced counts more than what is in writing

law case

the decision a court has made in a civil lawsuit or criminal prosecution

plaintiff

the person or party who is suing

defendant

the person or party being sued

administrative law

the rules and decisions made by federal and state administrative agencies

What is the role of law in society?

• the strong reach of the law touches everything we do, especially at work

• law is essential (every society of which we have a historical record has had some system of laws)

• the law is a big part of our lives

What are the origins of our law?

•English common-law practices

•The Iroquois System of Federalism