definition of law
o :# 1. Predictions of the way in which a court will decide specific legal questions
2. A rule of civil conduct prescribed by the supreme power in a state, which commands
what is right, and prohibits what is wrong
Meanings of Law
o :# 1. The legal order of society
2. The ag...
BUS 404 MIDTERM 1 ANDERSON Questions and
Answers
definition of law
o :# 1. Predictions of the way in which a court will decide specific legal questions
2. A rule of civil conduct prescribed by the supreme power in a state, which commands
what is right, and prohibits what is wrong
Meanings of Law
o :# 1. The legal order of society
2. The aggregate of laws or legal precepts
3. The judicial process
Function of Law
o :# to maintain stability in the social, political, and economic system through
dispute resolution, protection of property, and the preservation of the state, while
simultaneously permitting ordered change
disputes
o :# may involve criminal or noncriminal matter; the law has an elaborate set of
rules to resolve them
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Protection of Property
o :# includes law of property, contracts, sales, commercial paper, and business
associations
Preservation of State
o :# In the United States, the law ensures orderly changes in our leadership
Law and Justice
o :# two separate and distinct concepts, but without law, there can be no justice
justice
o :# the fair, equitable, and impartial treatment of the competing interests of
individuals with regard for the common good
right
o :# the capacity of a person, with the aid of the law, to require another person or
persons to perform, or to refrain from performing, a certain act
duty
o :# the obligation the law imposes upon a person to perform, or refrain from a
certain act
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substantive law
o :# Law that defines, describes, regulates, and creates legal rights and obligations.
Procedural Law
o :# Law that establishes the methods of enforcing the rights established by
substantive law.
Substantive vs. Procedural Law
o :# - *Substantive law* is the "what" that defines, regulates, and creates legal
rights.
- *Procedural law* is "how" to enforce your rights, how the process of enforcing the law
goes, and establishes penalties or remedies.
Public Law
o :# is the branch of substantive law that deals with the gov't's rights and powers
and its relationship to individuals or groups
- Consists of constitutional, administrative, and criminal law
Private Law
o :# is the part of substantive law governing individuals and legal entities
(corporations) in their relationships to one another
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Civil Law
o :# defines duties, the violation of which constitutes a wrong against the party
injured by the violation
Criminal Law
o :# establishing duties, the violation of which is a wrong against the whole
community
supreme law
o :# Law that takes precedence over all conflicting laws
Constitiution
o :# the fundamental law of a particular level of gov't that establishes the
governmental structure and allocates power among levels
Judicial Review
o :# the power of the courts to determine the constitutionality of legislative and
executive acts
Common Law System
o :# body of law originating in England and derived from judicial decisions
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