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Exam #1 - Legal Environment of Business
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- WGU - D080_ FVC1 Enhanced Study Guide
Exam #1 - Legal Environment of Business
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Exam #1 - Legal Environment of BusinessLaw - ANS-A body of enforcable rules governing relationships between individuals and
between individuals and society
Functions of a Law - ANS-Protection, Social Order, & Social Justice
Substantive Law - ANS-Sets out rights and duties
Procedural Law - ANS-Sets the substantive law into action
Constitution - ANS-Covers US and all states, all other laws based off of this....
Administrative Law - ANS-The government grants rule making authority to agencies to
carry out their purpose
Statues - ANS-Are written laws created by legislation bodies
Precedent - ANS-Not mandatory, court should follow a prior case when deciding a
similar case
Stare Decisis - ANS-Mandatory; Court must follow a prior case when deciding a present
case if
- Facts are the same
- Law is the same
- the prior case comes from a higher court to the same geographic jurisdication
Mediation - ANS-Parties try and negotiate a compromise solution with the help of a
netural third party member.
Arbitration - ANS-A netural third party or panel of arbitrators hears and decides a
dispute
Jurisdiction - ANS-The power and authority of a court to hear and decide a dispute
Litigate - ANS-To resolve a dispute in court
Plaintiff - ANS-A wronged party who brings a civil lawsuit (there is none in a criminal
case)
, Defendant - ANS-Person against whom a civil or criminal action is brought
Trial Court - ANS-Where the initial fact finding occurs either by judge or jury
Motion - ANS-A request to a court to do or not do something
Verdict - ANS-A final decision in a trial court
Appellate Court - ANS-After trial, a higher court that reviews a lower court's actions to
determine if the lower court committed legal errors.
Appellant - ANS-The party who files an appeal
Appellee - ANS-The party against whom an appeal is filed
Brief - ANS-A written argument presented to a court by a party to the case
Cause of Action - ANS-Legal basis for bringing a civil or criminal suit
Tort - ANS-A civil wrong or injury
Contract - ANS-A legally binding agreement between two or more legal entities
Defense - ANS-A legal reason why the plaintiff (in civil) or the prosecutor (in criminal)
should not win at trial
Felony - ANS-A crime punishable by one year or more in jail/prison
Misdemeanor - ANS-A crime punishable by one year or less in jail/prison
Jurisdiction - ANS-The power of a court to hear and decide a case
Personal Jurisdiction - ANS-Based upon geography. Where the individual defendant
personally resides or where the defendant business is located
Jurisdiction over Property - ANS-A court has jurisdiction over a case if it involves
property located in that state
Venue - ANS-The legally appropriate place for a trial within a jurisdiction
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