Civil Law flashcards

Stare Decisis

Courts should follow the rulings of pervious court rulings

Plain Meaning Rule

Interpreting something based off of just the words

Commerce Clause

the section of the U.S. Constitution that grants Congress the power to regulate commerce among the states, with foreign nations, and with Native American tribes.

Enabling Statute

type of law that creates federal agencies

Executive Branch

The branch of government where federal agencies are apart of.

IRS representation

Lawyers, certified public accountant, enrolled agent

Under what circumstances can the govt. take private property away from citizens

If they give just compensation (5th amendment) 

Civil statute on limitation for under payment

3 years

Civil Statute of limitation on tax fraud

Forever

Custodian

Bank that holds securities and safekeeping’s for an investment manager

Securities act of 33

Requires securities sold in the U.S. be registered

Securities act of 34

Can’t buy stocks on inside information

Regulation D

the wealthy can buy unregistered securities

Finra

Protects investors and ensures the market operates fairly through regulation of the brokerage industry.

Who are state actors regulated by

due process, bill of rights, and the equal protections clause

Prurient interest

Obscenity not being protected

Compelling governmental interest

must have a good reason to impair someone’s rights

Board of directors

body elected by the shareholders of a company

corporate veil

protects shareholders from liability of a company

The by-laws

rules of governance that the board of directors adopt

dividend

When a corporation distributes profits to its shareholders

Adv and disadv of sole propietorships

full liability (disadv), one lvl of taxation (adv)

Adv and disadv of partnerships

one lvl of taxation (adv), full liability (disadv)

Adv and disadv of corporations

two lvls of taxation (disadv), has the corporate veil (adv)

Adv and disadv of LLC’s

one lvl taxation and corporate veil (both adv)

expert witness

witness’s who do not testify facts, but on subjects where they have expertise

pretrial exchange on litigation

each side must share facts before the trial starts (discovery)

How long do NJ superior court judges serve

7 years

Forum inconveniens

power of a court to set venue based on a more convenient location

what type of cases do superior courts have subject matter jurisdiction for

court of general jurisdiction 

what type of cases do federal courts have subject matter jurisdiction for

federal law or if people are from different states

standard for asserting inpersonem jurisdiction

minimum contacts

hearsay

out of court statements