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ACC 241 Midterm 1 Exam Study Guide

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  • Accounting 241
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  • Accounting 241

ACC 241 Midterm 1 Exam Study Guide Sources of Law - ️️ Correct-- Constitution (Supremacy Clause) - laws coming from the constitution - Codified Law (Statutes and Ordinances) - written down law and approved by the legislation - Administrative Law - Agencies, both federal and state, authoriz...

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  • September 25, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Accounting 241
  • Accounting 241
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EmillyCharlotte
TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

ACC 241 Midterm 1 Exam Study Guide

Sources of Law - ✔️✔️Correct-- Constitution (Supremacy Clause) - laws coming from the

constitution

- Codified Law (Statutes and Ordinances) - written down law and approved by the

legislation

- Administrative Law - Agencies, both federal and state, authorize it to make rules (Ex:

FCC net neutrality rules)

- Case Law - These are laws that are made by case decisions

Stare Decicis - ✔️✔️Correct-Legal principle that similar court cases should be solved

consistently

- You don't have to care about what cases on your same level have ruled but you need

to look at the courts above you (supreme court)

IRAC Method for answering case questions - ✔️✔️Correct-Issue

Role

Analysis

Conclusion

Types of Judicial Decisions - ✔️✔️Correct-- Unanimous Decisions

- Majority Decisions

- Plurality Decisions


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,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
- Tie Decisions

Unanimous Decision - ✔️✔️Correct-All 9 justices agree on the outcome and reasoning in

a case

- Opinion becomes precedent

- Most decisions in the supreme court

Majority Decision - ✔️✔️Correct-- 5 Of the 9 justices agree on the outcome and reasoning

in a case

- opinion becomes precedent for later cases

Plurality Decision - ✔️✔️Correct-- Majority of the justices agree to the outcome of a case

but not to the reasoning of the outcome

- Settles the case but DOES NOT become precedent

Tie Decision - ✔️✔️Correct-- Happens when not all 9 seats are filled

- If this happens the ruling in the immediate lower court is affirmed

Concurring opinion - ✔️✔️Correct-Justice who agrees with the outcome but has his/her

own opinion

Dissenting Opinion - ✔️✔️Correct-Justice who does not agree with the ruling and why.

Civil Law - ✔️✔️Correct-- You sue someone for compensation for your injury or pain

- Usually involving private parties

- Burden of proof = the plaintiff in a civil case just has to tip the scale more than 50%

that they most likely did it.


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, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Criminal Law - ✔️✔️Correct-- Always cases involving the government

- Criminal cases are looking for punishment

- Burden of Proof = Criminal court has to prove beyond a reasonable doubt

- Double Jeopardy

Personal Jurisdiction - ✔️✔️Correct-Resident - If you live within the boundaries they have

jurisdiction over you

- Corporations have residency where their LLC is and where their principal place of

business is

Non - Resident (Long Arm Statute) - extends a state's jurisdiction over a person or

corporation who are not within their state through contracts or sufficient minimum

contacts tests (for defendants)

Ex: Transnational Business, Causing injury within the state, Contracting to supply

services

Property - If the property is located in the state the court has jurisdiction

Original Vs Appellate Jurisdiction - ✔️✔️Correct-- Original Case is where you start

- Appellate is the appeals court

Petition for Cert, Rule of 4, Writ of Cert - ✔️✔️Correct-Petition for Cert - Asking the

supreme court to hear the case

Rule of 4 - In order for the court to hear your case you have to convince 4 of the 9

justices your case is worth their time

Writ of Cert - Issued if the court decides to hear your case (100 cases a year)

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