Business Law Exam 1

Chapters 1, 2, 4, 5

Law

rules made by people of power that must be obeyed

Primary Source

Constitutional Law is a ___________ (primary or secondary source)

Constitutional Law

form of law that sets out organization, powers and limits, the state constitution cannot conflict with this

Primary Source

Statutory law is a ___________ (primary or secondary source)

Statutory Law

this is the name for a law that is passed by governing bodies

Primary Source

Administrative Law is a ___________ (primary or secondary source)

Administrative law

This is the name for rules or regulations that are issued by administrative agencies

Primary Source

Case law is a ___________ (primary or secondary source)

Case law

name for rules found in court decisions/ laws that come from court decisons

Primary Source

Common Law is a ___________ (primary or secondary source)

Common Law

General rules formed by case law are called _____________

Secondary Source

Books and articles that summarize or discuss other sources of law is a ___________ (primary or secondary source)

Secondary Source

Scholarly treatises are a ___________ (primary or secondary source)

Secondary source

Law review articles and restatements are a ___________ (primary or secondary source)

Court of law

In the English common law there were two forms of law. Which court could only award monetary relief (land, money, property)

Court of Equity

In the English common law there were two forms of law. Which court could award non-monetary relief based on “notions of justice and fair dealing”

Latin phrase which means to stand on decided cases, meaning that judges try to be consistent with their decisions by looking into earlier cases with similar facts

What is Stare Decisis

1. Courts should not overturn their own precedent without compelling reasons

2. Decisions made by a higher court are binding on the lower courts

What are the 2 main aspects of Stare Decisis

1. the precedent is clearly wrong

2. times have changed and a new precedent is needed

For what reasons would a court change/overrule a precedent

Areas not covered by statutory law or administrative law

Common law governs what?

Articles of Confederation

form of constitution that was adopted during the revolutionary war, became clear that this form wasnt working which resulted in the Constitiution we have today

The bill of rights

this is the name for the first 10 admendments which protect individual rights and liberties

Privileges and Immunities Clause

This clause in the constitution prevents states from discriminating against non-citizens (residents of other states) meaning that states cant arbitarily discriminate

Full Faith and Credit Clause

This clause in the connstitution requires states to enforces the law and court rulings of other states, especially concerning property, contracts and criminal proceedings

Legislative branch (congress)

this branch of the government can create or enact laws

Executive Branch (President and Agencies)

this branch of the government can enforce laws

Judicial Branch (Courts)

this branch of the government can interpret the laws

Commerce clause

Clause in the constitution that gives the Federal government the exclusive right to regulate virtually any business enterprise, including intrastate business and internet based business. This is the most important clause in the constitution in regards to business.

Preemption

The invalidation of a state law if it conflicts with a federal law

First Amendment

amendment that grants the freedom of speech. commercial speech by businesses is not protected as individual speech with the except for political contributions

Fourth Amendment

amendment that grants freedom from unreasonable searches and seizures

Fifth Amendment

amendment that grants the right against self incrimination and due process

Privacy

What word is not found int he constitution and there for we do not have a federal right to it

jurisdiction

venue

standing to sue

Before a lawsuit can be brought before a court, what requirments must be met

The power of a court to hear a dispute and make a ruling and rener a verdict that is legally binding

What is jurisdiction?

In Personam Jurisdiction

Courts have jurisdiction over residents in that geographic area

In Rem jurisdiction

Courts have jurisdiction over land (things) within that states borders

General Jurisdiction

can hear any type of case

Limited Jurisdiction

set up to hear specific types of cases (divorce, small claims, probate, bankruptcy)

Trial Courts

Courts that have limited and general jurisdiction

Appellate Courts

Courts that review questions of law or procedural mistake by trial court

States Highest Court

Court where decisions are fineal as to question of state law

US District

Court which is the federal equivelent of state court

US Court of appeals

Name for the 13 courts that make decisions that are binding on all the lower courts with in its jurisdiction

US Supreme Court

Court with 9 Justices that can review and case from the court of appeals and has the final authority on a constitution and federal law

Negotiation

type of dispute resolution where differences are discussed with the goals to resilve the case

Mediation

type of dispute resolution where a 3rd party comes to talk with both parties and determine “common ground” and propose a solution but does not issue a decision

Arbitration

type of dispute resolution where the case is considered by an expert in the area and grants a decision

Pretrial, Trial, post trial

What are the three main parts of a trial

Fixed fee

this is typically charged by attorneys for simple services like drafting a will

Hourly fee

This is charged by attorneys based on the actual time spent working on the matter

Contingency Fee

This is charged by the attorneys and is a percentage of the plantiff’s recovery- contingent upon the plaintiff winning

Consult an attorney, pleadings, discovery, pretrial conference, jury selection

What should you do in the pretrial phase

motion to dismiss

defendant asks the court to dismiss the case for a specified reason

Motion for judgement on the pleadings

motion by either party asking the court to enter judgemtn in his or her favor based in thepleadings because there are no facts to dispute, both parties agree this is what happened

motion for summary judgement on the pleadings

motion asking the court to enter a judgment in his or her favor without a trial

Discovery

The process by which parties obtain information form the opposing party prior to the trial

Voir Dire

Latin phrase for the jury selection process