Law and Economics Final Exam

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19 Terms

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3 Sources of Law

Legislative, common law, natural law

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Legislative (how most laws start)

  • Constitution

  • Statutes

    • Penal law

    • Criminal procedure law

    • Civil procedure law

  • Regulation

    • A rule or directive made by an authority

    • Public agency

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Common Law

The body of customary law, based upon judicial decisions and embodied in reports of decided cases, that has been administered by the common law courts of England

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Case law

Unwritten/non-statutory laws based on legal precedents established by the courts

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