Business Law Exam 1 Stephanie Mallette

ethics

the principles governing what constitutes right or wrong behavior

majority of opinion

a court that represents the views of the majority (more than half) of the judges or justices deciding the case

judicial review

process by which courts decide on the constitutionality of legislative enactments and actions of the executive branch

marbury vs madison

established judicial review in 1803 as they stated it is their responsibility of the judicial department to say what the law is if two laws conflict with each other.

personam jurisdiction

court jurisdiction over the "person" involved in a legal action; personal jurisdiction.

subject matter jurisdiction

the power of a court to hear a particular type of case

article 3 section 2

a basis for federal court jurisdiction over a lawsuit between 1 citizen of different states, 2 a foreign country and citizens of a state or of different states, or 3 citizens of a state and citizens or subjects of a foreign country

federal question

a question that pertains to the US Constitution, acts of Congress, or treaties. A federal question provides a basis for federal jurisdiction

venue

The geographic district in which a legal action is tried and from which the jury is selected.

standing to sue

the requirement that plaintiffs have a serious interest in a case, which depends on whether they have sustained or are likely to sustain a direct and substantial injury from a party or an action of government

negotiation

in regard to dispute settlement, a process in which parties attempt to settle their dispute without going to court, with or without attorneys to represent them.

pretrial procedures

filing of the pleadings

gathering of evidence

pretrial conference

jury selection

typically in a complaint

the pleading made by a plaintiff alleging wrongdoing on the part of the defendant; the document that, when filed with a court, initiates a lawsuit

affirmative offense

a response to a plaintiff's claim that does not deny the plaintiff's facts but attacks the plaintiff's legal right to bring action

motion

a procedural request or application presented by an attorney to the court on behalf of a client.

motion of summary judgement

a motion requesting the court to enter a judgement without proceeding to trial. The motion can be based on evidence outside the pleadings and will be granted only if no facts are in dispute.

discovery

A phase in the litigation process during which the opposing parties may obtain information from each other and from third parties prior to trial.

deposition

the testimony of a party to a lawsuit or of a witness taken under oath before a trial

voir dire

A French phrase meaning, literally, "to see, to speak." In jury trials, the phrase refers to the process in which the attorneys question prospective jurors to determine whether they are biased or have any connection with a party to the action or with a prospective witness.

privileges and immunity clause

prevents a state from treating citizens of other states in a discriminatory manner.

full faith and credit cause

addresses the duties that states within the United States have to respect the "public acts, records, and judicial proceedings of every other state."

checks and balances

A system that allows each branch of government to limit the powers of the other branches in order to prevent abuse of power

types of speech that are protected and not protected by the first amendment

protected- corporate political speech, commercial speech

unprotected- threatening speech, obscene speech

probable cause

reasonable cause for issuing a search warrant or making an arrest; more than mere suspicion

case law

the rules of law announced in court decisions. case law interprets statutes, regulations, constitutional provisions, and other case law

equal protection

the provisions of the fourteenth amendment to the US constitution that guarantees that no state will "deny to any person within its jurisdiction the equal protection of the laws". This clause mandates that state governments treat similarly situated individuals in a similar manner

triple bottom line

The idea that investors and others should consider not only corporate profits, but also the corporation's impact on people and on the planet in assessing the firm. (The bottom line is people, planet, and profits.)

ethical reasoning

reasoning process in which an individual links his or her moral convictions of ethical standards to the particular situation at hand

outcome based ethics

An ethical philosophy that focuses on the impacts of a decision on society or on key stakeholders.

utilitarianism

An approach to ethical reasoning in which ethically correct behavior is related to an evaluation of the consequences of a given action on those who will be affected by it. In utilitarian reasoning, a "good" decision is one that results in the greatest good for the greatest number of people affected by the decision.

Sarbanes-Oxley Act

A law passed by Congress that requires the CEO and CFO to certify that their firm's financial statements are accurate.

foreign corrupt practices act

prohibits U.S. businesspersons from bribing foreign officials to secure beneficial contracts.

stare- decisis

A common law doctrine under which judges are obligated to follow the precedents established in prior decisions

corporate social responsibility

the concept that corporations can and should act ethically and be accountable to society for their actions

the basis of legal analysis (IRAC)

a framework for organizing your answer to a business law essay question. (Issue, Rule, Analysis, Conclusion)

natural law

The oldest school of legal thought, based on the belief that the legal system should reflect universal ("higher") moral and ethical principles that are inherent in human nature.

procedure law

Law that establishes the methods of enforcing the rights established by substantive law.

why it is important for ethical business reasons to matter

attract customers to the firm's product

make employees want to stay with the business

time, manner, and place restrictions

content- neutral limitations imposed by the government on expressive activity

what happens if there is a conflict between state and federal law

federal law preempts state law, even when the laws conflict. Thus, a federal court may require a state to stop certain behavior it believes interferes with, or is in conflict with, federal law

what do appellate courts do with a case

they hear and review appeals from legal cases that have already been heard in a trial- level or other lower court. Appellate courts are present at the state and federal levels and they DO NOT include a jury

primary sources of law

legislative and case laws. They come from official bodies and include treaties, decisions of courts and tribunals, statutes, and regulations

limited jurisdiction

the power of a court to hear certain types of cases, or those in which the amount of controversy is below a certain sum or that is subject to exceptions