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LSB 3213 Exam 1 (Okstate) All Answers Correct

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Publié le 23 août 2024
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lsb 3213 exam 1 okstate all answers correct

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LSB 3213 Exam 1 (Okstate) All Answers Correct
- Simply knowing the "black-letter" law and understanding the behaviors that could result in liability is
not sufficient.

- Areas of law that influence business decisions include contracts, intellectual property, product liability,
tort law, sales, internet law (especially regarding privacy), and environmental law.

- Torts are defined within common law jurisdictions as civil wrongs that cause another party to
experience a loss.

- Primary sources of law are those that create the law, such as constitutions, statutes, and regulatory
measures.

- Secondary sources of law serve to summarize and clarify primary sources, like restatements of the law.

- Deceit is defined as making a promise without intending to fulfill it.

- The fourth branch of government is identified as administrative law.

- Administrative law encompasses federal, state, and local agencies.

- American law is fundamentally based on English common law.

- Courts of law provide specific types of legal remedies.

- Courts of equity focus on providing non-monetary relief.

- A party might seek an equity court for reasons related to pride or to gain leverage in a situation.

- The hierarchy of primary sources of law is as follows: US Constitution, federal statutes, state
constitutions, state statutes, local ordinances, administrative regulations, and common law.

- Equitable maxims remain relevant in the 21st century.

- A party can request both legal and equitable remedies within the same lawsuit.

- Initiating an action in law involves filing a complaint, while initiating an action in equity involves filing a
petition.

- The parties in an action at law are referred to as the plaintiff and defendant, whereas in an action of
equity they are known as the petitioner and respondent.

- In law, decisions can be made by either a judge or a jury, while in equity they are made solely by a
judge.

- The outcomes differ: a judgment in law versus a decree in equity.

- Remedies also differ: monetary damages in law versus remedies like injunctions, specific performance,
or rescission in equity.

- The 7th Amendment grants the right to a jury trial in legal actions.

, - Statutes of limitations serve as a legal defense related to the time frame for filing a lawsuit.

- Laches refers to the principle that a party waited an unreasonable amount of time before filing a
lawsuit.

- Rescission means to undo or terminate a contract.

- Stare decisis is a common law principle requiring judges to follow precedents set by previous decisions.

- Judges derive their decisions by applying the relevant law to the specific facts of the case.

- The two elements of stare decisis entail that a court should not overturn its own precedents without a
compelling reason and that decisions of higher courts bind lower courts.

define binding authority ✔️any source of law a court must follow when deciding a case

define a controlling precedent ✔️a binding authority that requires a court to follow prior court
decisions in its jurisdiction

what happens if there is no authority ✔️it is called a case of first impression

define persuasive authority ✔️any primary or secondary source of law that a court may consult for
guidance but that is not binding on the court

what sources are considered persuasive ✔️legal/equitable ones, precedents from other jurisdictions,
unpublished opinions, fairness/social values/customs

when can a higher court in a jurisdiction depart from a precedent ✔️the precedent is incorrect, or
inapplicable

what do precedents do ✔️they make laws consistent and uniform

what is the legal reasoning process ✔️IRAC, issue, rule, analysis, and conclusion

courts ..... statutes and regulations ✔️interpret

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