Dynamic Business Law Exam Review

Definition of Law: A body of enforceable rules governing relationships among individuals and between individuals and society.
Business Law: Enforceable rules of conduct that govern commercial relationships (for profit, exchange of goods/services).

Civil Law
- Governs rights and responsibilities in relationships.
- Violations result in remedies to injured parties.
- Some civil violations may not have clear compensatory consequences.
Criminal Law
- Regulates acts against the public (society).
- Consequences include punishment.
- An act can lead to civil and criminal cases.
- Example: A fraud case by a stockbroker can lead to criminal charges and a civil lawsuit by the injured investor.
Cyberlaw
- Regulates online activities.
- Modifications to existing laws post-internet.
- Examples: Electronic signatures, online defamation, intellectual property use.

Sovereign Power: The governing body's ability to govern itself.
Systems of Sovereign Power in the U.S.
- Federal System: Includes all branches of the federal government.
- State System: 50 separate systems (states, branches, subdivisions).
Primary Sources of Law
- Constitutional Law: Constitutions at federal and state levels.
- Statutes: Created by legislatures; can include initiatives and referendums.
- Case Law: Judicial decisions; interpretations of existing laws.
- Administrative Law: Rules created by administrative agencies.
- Executive Orders: Issued by the President or state governors.
- Treaty Making: Requires approval from Senate.

Decisions made by courts that set precedents for future cases.
Originated from common law in England.
Encompasses interpretations of laws and common law principles that existed before U.S. legal frameworks.

U.S. Constitution: Trumps all laws (federal and state).
State constitutions trump all state laws.
Federal laws preempt state laws under the Supremacy Clause.
- Preemption occurs when federal law conflicts with state law.
Hierarchy of law sources:
- Federal constitutional, statutory, and administrative law > state law
- State laws > state case law unless involving constitutional questions.

Definition: Power of a court to hear a case.
Types of Jurisdiction:
1. Original Jurisdiction: The court's power to hear a case first (trial court).
2. Appellate Jurisdiction: Power to review previous court decisions.
Personal Jurisdiction:
- Jurisdiction over persons:
- Based on the defendant's connections to the state (location, contact).
- Types: in personam (over persons) and in rem (over property).
Subject Matter Jurisdiction: Courts also require this - related to the type of case.

Plaintiff's Complaint: Initiating document filed by the plaintiff.
Defendant's Response: Must respond by a deadline; can answer, dismiss, or counterclaim.
Discovery Process:
- Interrogatories, Requests for Production, Depositions, Requests for Admission.
Standards of Proof:
- Civil cases typically require a preponderance of the evidence; criminal cases require proof beyond a reasonable doubt.

Methods to resolve disputes outside of court:
- Negotiation: Direct discussions between parties.
- Mediation: Involvement of a neutral mediator to assist resolution.
- Arbitration: Neutral arbitrator makes rules similar to a judge's ruling.

Federalism: Division of power between federal and state governments.
Supremacy Clause: Federal law is the supreme law of the land.
Commerce Clause: Federal power to regulate commerce between states; allows regulation of interstate commerce activities.

Bill of Rights: Initially applied exclusively to the federal government; later extended to the states through the 14th Amendment.
First Amendment: Protects freedoms, including speech, but is not absolute.
Fourth Amendment: Protects against unreasonable searches and seizures; warrants and probable cause are required.
Fifth Amendment:
- Due Process Clause: No deprivation of life, liberty, or property without due process.
- Takings Clause: Government must provide just compensation for property taken for public use.
Fourteenth Amendment: Guarantees equal protection under the laws;
- Government must treat similarly situated individuals equally, applying strict, intermediate, or rational scrutiny based on the context.

Definition: Regulatory laws created by government agencies.
Created by Congress through enabling legislation detailing the agency's functions and powers.
Types of Administrative Agencies:
- Executive Administrative Agencies: Part of the executive branch with rule-making power.
- Independent Administrative Agencies: Operate independently of the executive department.

Understanding the intricate relationship between various laws, their sources, and how they intersect is essential for comprehending U.S. law and legal processes. Proper grasp of civil litigation, jurisdiction, and constitutional rights enhances one's ability to engage with legal issues effectively.