UCC (Uniform Commercial Code) - ️️facilitates commerce among the states by
providing a uniform, yet flexible, set of rules governing commercial transactions
Request for examination - ️️when opposing parties want to physically examine
something in the other party's possession
Liability -...
BULW 301 UTK Exam 1
UCC (Uniform Commercial Code) - ✔️✔️facilitates commerce among the states by
providing a uniform, yet flexible, set of rules governing commercial transactions
Request for examination - ✔️✔️when opposing parties want to physically examine
something in the other party's possession
Liability - ✔️✔️the state of being responsible for something, especially by law.
Ethics - ✔️✔️the principles governing what constitutes right or wrong behavior
Primary sources of law - ✔️✔️sources that establish the law
What are the 4 primary sources of law in the US? - ✔️✔️Constitutions, statutes,
regulations, case law
Secondary sources of law - ✔️✔️book and articles that summarize and clarify the
primary sources of law
What are some examples of secondary sources of law? - ✔️✔️Information taken from
primary sources, reliable newspapers/articles, the restatement of law
Constitutional Law - ✔️✔️the law as expressed in state and federal constitutions
Statutory Law - ✔️✔️when laws are enacted by legislative bodies at any level of
government
Law - ✔️✔️consists of enforceable rules governing relationships among individuals and
between individuals and their society
Ordinances - ✔️✔️regulations passed by municipal or county governing units to deal
with matters not covered by federal or state law
National Conference of Commissioners on Uniform State Laws (NCCUSL) - ✔️✔️was
formed to help businesspersons who would conduct trade and commerce amongst the
states
Administrative law - ✔️✔️consists of the rules, orders, and decisions of administrative
agencies
Administrative Agency - ✔️✔️a federal, state, or local government agency established
to perform a specific function
, Executive Agency - ✔️✔️subject to the authority of the president, who has the power to
appoint and remove their officers
Case Law - ✔️✔️the doctrines and principles announced in cases
Common Law - ✔️✔️a body of general rules that applied throughout the entire English
realm
Remedies - ✔️✔️the legal means to enforce a right or redress a wrong
Equity - ✔️✔️a branch of law founded on the notions of justice and fair dealing
Equitable maxims - ✔️✔️propositions or general statements of equitable rules
Laches - ✔️✔️lax or negligent
Defense - ✔️✔️an argument raised by the defendant (party being sued)
Plaintiff - ✔️✔️the suing party
Statutes of Limitations - ✔️✔️after a certain amount of time has passed, no action
(lawsuit) can be brought
Stare decisis - ✔️✔️Latin phrase meaning "to stand on decided cases"
Binding Authority - ✔️✔️any source of law that a court must follow when deciding a
case
Persuasive Authorities - ✔️✔️legal authorities that a court may consult for guidance but
that are not binding on the court
Legal reasoning - ✔️✔️judges harmonize their decisions with those that have been
made before
IRAC (method of legal reasoning) - ✔️✔️Issue
Rule
Application
Conclusion
Jurisprudence - ✔️✔️the study of law
Natural Law Theory - ✔️✔️a higher or universal law exists that applies to all human
beings
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