Legal Environment of Business Mid-term
How 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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller modockochieng06. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.