Clemson Law 3220 Chapter #1 Latest Version Graded A

Clemson Law 3220 Chapter #1 Latest Version Graded A The rules, standards and principles that define the behavioral boundaries for business activities Law's Key Roles in Society (IRSC) -Influencing behavior of members -Resolving disputes within society -Maintaining important social values -Providing a method for assisting social change The Court System A formal mechanism for the resolution of disputes (private & public) Congress The legislative branch of government that passes statutes The Executive Branch The President and administrative agencies that issue regluations Constitution The fundamental law of a nation, establishing and limiting the powers of government The U.S. Constitution Allocates the powers of government between the states and the federal government Separation of Powers The division of governmental powers (EX: legislative, judicial, and executive branches) Statutory Law Congress and state legislatures, where statutes make up much of the law that significantly affects business behavior Common Law Law made and applied by judges as they resolve disputes among private parties; the foundation of agency, contract, property, and tort law Case A dispute between two or more parties that is resolved through the legal process Case Reporters Books containing the decisions issued by federal and state courts in which judges provide the legal reasoning for decisions issued Precedent A decision in a case that is used to guide decisions in later cases with similar fact situations Stare Decisis The use of precedent by courts; the use of prior decisions to guide decision making in cases before the courts Executive Orders Under powers granted by the Constitution, or by Congress in legislation, an order by the president to establish or enforce a legal requirement (EX: order to give preference to buying recycled products) Public Law Concerns the legal relationship between members of society-businesses and individuals-and the government; includes statutes enacted by Congress and state legislatures and regulations issued by administrative agencies (EX: Constitutional, Criminal) Private Law Sets forth rules governing the legal relationships among members of society, helping to resolve disputes and provide ways for the values and customs of society to influence law (EX: Partnerships, Trusts) Criminal Law Concerns legal wrongs or crimes committed against the state Felony A serious class of crime-such as rape, murder, or robbery-that may be punishable by imprisonment in excess of one year or death Misdemeanor A lesser crime that is neither a felony nor treason, punishable by a fine and/or imprisonment in other than state or federal penitentiaries Reasonable Doubt Evidence presented that leads the court to believe that a person is guilty of a crime Civil Law The rights and responsibilities that exist among members of society or between individuals and the government in noncriminal matters Preponderance of the Evidence In civil trials, the burden of persuasion to win a verdict requires that the plaintiff prove its claim by having the majority or bulk of the evidence on its side Substantive Law Includes common law and statutory law that define and establish legal rights and regulate behavior Procedural Law Determines how substantive law is enforced through the courts by determining how a lawsuit begins, what documents need to be filed, which court can hear the case, how the trial proceeds, and so on Ethics Rules or standards governing the conduct of members of a profession and how such standards are put into action within an organization Integrity Living according to a moral code and standards of ethics Morality Conformity to rules of correct conduct within the context of a society, religion, or other institution Compliance Program Under the federal Sentencing Guidelines, a company that maintains a compliance program with regulations that apply to the company will be subject to less punishment in case of violations of the law than if there is no good-faith effort to have internal procedures to help ensure that the law is followed within the organization Corporate Social Responsibility The belief that businesses have a duty to society that goes beyond obeying the law and maximizing profits Jurisprudence The science and philosophy of law