BLAW 341 - Exam 1 – Greaves Questions with correct Answers 2024
Analyzing Cases - What is the FIRAC Method?
1. Find FACTS of the case
2. Look for the legal ISSUES
3. Decide which RULE of law applies
4. Use the rule and APPLY it to the case
5. CONCLUDE your findings
Law - Definition
...
Analyzing Cases - What is the FIRAC Method? - answer 1. Find FACTS of the case
2. Look for the legal ISSUES
3. Decide which RULE of law applies
4. Use the rule and APPLY it to the case
5. CONCLUDE your findings
Law - Definition
-What does the law say? - answer A set of enforceable rules that regulates the
conduct of individuals, businesses, and other organizations within society
-Says you can or cannot do something
How does the law serve society? (3) - answer 1. Keeps the peace (prevents conflict)
2. Create a set of rules that people can refer to
3. Gives protected property rights
Businesspersons must be aware of what _______ may lead to legal liability - answer
Conduct
Liability - Definition - answer The state of being legally responsible (liable) for
something such as a debt or obligation
Businesspersons must develop critical thinking and legal reasoning skills so that they
may evaluate how various laws apply to a particular situation:
1.
2. - answer 1. Must think about risk and loss
2. Many different laws may affect a single business transaction
Business Law is integral to what six functional fields of business? - answer 1.
Corporate Management ex: Supervise your workers
2. Production and transportation ex: Contracts, shipping products
3. Marketing ex: Trademarks, false advertising
4. Research and Development ex: Intellectual property, patents
5. Accounting and Finance ex: Corporate governance issues, looking after publicly
trading entities
6. Human resources management ex: Interpersonal relationships, treating workers right
What are the two major sources of American Law? - answer Primary Sources &
Secondary Sources
,What are primary sources? - answer A document that establishes the law on a
particular issue; follow primary source first before moving on to secondary source
What are the 4 types of primary sources? - answer 1. U.S. Constitution (highest law)
and constitutions of various states
2. Statutory law
3. Administrative law
4. Case law
Explain how the U.S. constitution is the highest law. - answer It creates the structure
that all other law is based upon; if a law conflicts with Constitution, the Constitution
always wins`
Explain the relationship between the State constitutions and the U.S. constitution. -
answer State constitutions can ADD more protections to US constitution, but cannot
conflict with it
What is Statutory law? - answer laws passed by U.S. Congress, state legislatures,
and local governing bodies
What is Administrative law? - answer Regulations created by administrative agencies
(such as SEC, IRS, FDA)
ex: FDA sets standards that companies must meet in order to ensure a new drug is
safe; companies have to follow these standards as law
What is case law? - answer Court decisions. In Civil Law countries (including France,
China, Italy) this type of primary source does not exist; courts do not produce primary
sources.
What are secondary sources? (3) - answer A publication that summarizes or
interprets the law, such as LEGAL ENCYCLOPEDIA, a LEGAL TREATISE, or an
ARTICLE IN LAW REVIEW. In other words, it is learned people giving their
interpretations of the law.
How are secondary sources used? - answer Courts refer to these sources for
guidance in interpreting/applying the primary sources of law. ex: our textbook has
explanations and knowledge on the law, but cannot be used in court
What does case law consist of? - answer Judicial interpretation of constitutional
provisions, statutes, and administrative regulations (what judges decides based on prior
laws/information)
What does case law govern? - answer Case law - doctrines and principles
announced in cases - governs all areas NOT covered by statutory law or administrative
law ie if there is no precedent set, then the case law decides the outcome
, Case law is part of the common law tradition. What is the common law tradition? -
answer This is the way in which COURTS CREATE LAWS - true common laws are
created by courts when something is not covered explicitly by the Constitution
When did the King's courts start? - answer After the Norman conquest of 1066
What did the Early English Courts (King's courts) do? - answer Established common
law - body of general legal principles applied throughout the English empire
King's court used ________ to build common law - answer precedent
What wins - legislation or common law? - answer Legislation. As legislatures
continue to enact laws today we begin to "erase" or update the common laws regarding
the same decisions.
What is the doctrine of stare decisis? - answer "To stand on decided cases" - if there
is a precedent, the courts follow that precedent
Who established the practice of deciding new cases based on precedent? - answer
The King's courts
Judges are obligated to follow the ________________ - answer precedent within
their jurisdictions
A higher court's decision based on certain facts and law is _______________ - answer
A BINDING AUTHORITY ON LOWER COURTS
What does stare decisis do for courts and law? - answer Stare decisis helps courts
stay efficient and makes the law more stable, predictable, and durable
Where does stare decisis only exist? - answer In common law countries. In civil law
countries (France, China, Italy) a court's decision does not have precedent in any future
court decisions
What is a remedy? What is the most common? - answer Means to enforce a right or
compensate for injury to that right. Most common is money damages.
Remedies at law - answer In King's courts, remedies were restricted to damages in
either money or property
Remedies in equity - answer Founded on notions of justice and fair dealing
What are some examples of the King's chancellor or formal chancery courts doing what
is right (remedies in equity) - answer Specific performance (ex contracts), injunction
(ex to stop someone from encroaching on your property), rescission (ex to end a
business relationship, to take apart)
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