Exam (elaborations)
Legal Environment of Business Mid-term
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- WGU - D080_ FVC1 Enhanced Study Guide
Legal Environment of Business Mid-term
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Legal Environment of Business Mid-termHow is law defined? - ANS-law is a form of order. Law is the body of rules of society
governing individuals and their relationships
Public law - ANS-codified law; statutes; law by government body
Private law - ANS-rules created by individuals for their contracts, tenancy, and
employment
Civil law - ANS-laws regulating wrongful conduct and carrying sentences and fines
Statutory law - ANS-the body of law enacted by legislative bodies (as opposed to
constitutional law, administrative law, or case law); codified law
Common law - ANS-law developed historically and by judicial precedent; that body of
law derived from judicial decisions or custom in English and US courts, not attributable
to a legislature
Substantive laws - ANS-laws giving rights and responsibilities; law that defines,
describes, regulates, and creates legal rights and obligations
Procedural laws - ANS-laws that provide enforcement rights; law that establishes the
methods of enforcing the rights established by substantive law
What are the purposes of law? - ANS-To keep order, influence conduct, honor
expectations, promote equality, offer compromises
What are the characteristics of law? - ANS-Flexibility, consistence, pervasivess
Jurisprudence - ANS-theory of law
Constitution - ANS-the document that establishes structure and authority of a
government
Federal statutes - ANS-laws passed by Congress: the U.S. Code
State statutes - ANS-laws passed by state legislatures, including uniform laws on
contracts and business organizations
, Ordinances - ANS-local laws passed by cities, counties and townships that becomes
part of that state's statutory law
Judicial review - ANS-a review of a trial court's decisions and verdict to determine
whether and reversible error was made
Appellate court - ANS-court responsible for review of trail court's decisions and verdict
Brief - ANS-written summary of basis for appeal of trial court's decisions and verdict
Reversible error - ANS-mistake by trial court that requires a retrial or modification of a
trial court's decision
What are the options for appellate court - ANS-reverse, remand, affirm, modify,
Stare decisis - ANS-Latin for "let the decision stand:; doctrine of reviewing, applying,
and/or distinguishing prior case decisions
Reverse - ANS-change court's decision
Remand - ANS-return case to trail court for retrial or reexamination of issues
Affirm - ANS-uphold trial court's decisions and verdict
Modify - ANS-overturn a portion of the trail court's verdict
Case opinion - ANS-written court decision used as precedent; contains dicta or
explanation or reasoning and often a minority view of dissenting opinion
Plaintiffs/petitioners - ANS-initiators of litigation
Defendants/respondents - ANS-parties named as those from whom plaintiff seeks relief
Lawyers - ANS-officers of the court who speak for plaintiffs and defendants
Attorney-client privilege - ANS-confidential protections for client conversations
Appellant - ANS-a party who appeals lower court's decision
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