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LOMA 311 CURRENT EXAM
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LOMA 311 CURRENT EXAM...
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LOMA 311 CURRENT EXAMParliamentary democracy - ANSWER Countries in which the legislative branch of
government has ultimate authority to make all legislation
Statutes - ANSWER The laws made by a legislature, usually that declare,
command, or forbid something.
Statutory law - A law passed by the United States. Congress or state legislatures are
made up of legislative enactments.
Congress is the legislative of the United States government, made up of the Senate
and the House of Representatives.
US Code - ANSWER A compendium of all statutes passed by the United States.
Congress
ANSWER The Office of the Secretary of State is a state institution in charge of
licensing enterprises and businesses.
Regulations - ANSWER Rules or orders issued by administrative authorities that
have the force and effect of law, as long as they do not contradict the underlying
laws.
A treaty is a legally binding agreement between two or more nations that agree to
abide by its terms.
Case law is the written decisions made by courts.
Substantive laws are laws that establish, define, and govern legal rights and
obligations.
Procedural laws outline the procedures and methods used by courts to enforce
substantive laws.
Appellate courts are permitted to examine lower court rulings.
ANSWER: A legal system based on English common law.
,Doctrine of state decisis - ANSWER When a court determines that a specific legal
principle applies to a particular set of facts, that principle is applied to all
subsequent cases in which the facts are substantially the same. The decision in a
previous case is termed precedent.
Civil law system - ANSWER A legal system based on the Roman legal system in
which laws are codified into written codes established by the legislature.
Mixed legal systems are those that have components from more than one main type
of legal system (common law and civil law).
Customary legal system - ANSWER Members of a community have acknowledged
local customs as binding on its members.
The law enshrined in the Koran (or Qur'an) is unchanging. These legal systems
frequently incorporate parts of common law, civil law, or both, as well as Islamic
law.
District courts - ANSWER Sit in every state and territory and operate as trial courts
with the authority to hear just specified sorts of cases as defined in the Constitution
and various federal legislation.
ANSWER: Thirteen circuit courts of appeal have the authority to hear matters in
which the decision of a district court within that circuit is appealed by one of the
parties engaged in a trial.
The Supreme Court is the country's highest court. It overturns only select appeals
from lower courts and cases involving any of the states or a foreign person, such as
an ambassador.
ANSWER Lower-level state appellate court.
State Supreme Court - A higher-level state appellate court.
Regtech is a form of technology that helps regulators and businesses conduct
regulatory and compliance activities more effectively and at a lower cost.
, Civil laws - ANSWER Laws concerned with private (nongovernmental) rights and
remedies (for example, who has the entitlement to life insurance policy proceeds).
Criminal laws designate certain activities as crimes and give precise punishments
for each crime.
Public law - ANSWER Those areas of law that influence the public interest and
govern relationships between the government and nongovernmental groups.
Private law - ANSWER Those areas of the law that largely concern disputes
between nongovernmental parties
Cause of action - ANSWER A group of facts that grants a person the right to legal
redress.
Tort - ANSWER A private wrong—other than a breach of contract—for which the
law gives a remedy to the offended party.
Plaintiff - ANSWER The injured party in a legal case who files documents with the
court.
Defendant - ANSWER the person against whom a civil or criminal litigation is
filed in court
Service of process - ANSWER The act of giving or serving the complaint to the
defendant, providing them with official notice of the proceeding
Affirmative defense - ANSWER An assertion of facts that constitute a defense to
the plaintiff's claim.
A counterclaim is a claim made by the defendant against the plaintiff based on the
same facts as the plaintiff's claim.
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