C713 business law - Study guides, Class notes & Summaries

The legal system in the United States is comprised of 1) both state and federal constitutions 2) statutes and agency regulations 3) judicial decisions Local and state laws may not conflict with federal laws Primary sources of law constitutional law, statutory law, common law, and administrative law the law serves to 1) keep the peace 2) maintain the status quo 3) preserve individual rights 4) protect minorities against majorities 5) promote social justice 6) provi...

1. Which type of law governs an individual's prosecution for the crime of grand larceny? A. Administrative law B. Statutory law C. Common law D. Constitutional law B. Statutory law 2. From which source do laws governing crimes primarily arise? A. Constitutional law B. Civil law C. Common law D. Statutory law D. Statutory law 3. What type of law provides the basis for substantive due process and equal protection? A. Constitutional law B. Criminal law...

Absolute privilege A witness testifying a court or legislature may never be sued for defamation Acceptance Retention of the collateral by a secured party as full or partial satisfaction of a debt Accepts To sign a draft Accession Occurs when one person uses labor, materials or both to add value to personal property belonging to another person Accommodated Party Someone who receives a benefit from an accommodation party Accommodation Party Someone other th...

The legal system in the United States is comprised of - CORRECT ANSWER 1) both state and federal constitutions 2) statutes and agency regulations 3) judicial decisions Local and state laws may not conflict with - CORRECT ANSWER federal laws Primary sources of law - CORRECT ANSWER constitutional law, statutory law, common law, and administrative law the law serves to - CORRECT ANSWER 1) keep the peace 2) maintain the status quo 3) preserve individual ri...

Define and describe "negotiation." negotiation is the transfer of an instrument in such form that the transferee becomes a holder requires both delivery and indorsement What are the two methods of negotiation? order instrument or a bearer instrument. Order Instrument contains the name of a payee capable of indorsing, as in "Pay to the order of Jamie Fowler. Bearer Instrument negotiated by delivery—that is, by transfer into another person's possession. Indorsement is not n...

What purpose does the law serve in our society? - CORRECT ANSWER To resolve conflicts in our society without the ise of volence. What are the three branches of government? - CORRECT ANSWER Executive, Legislative, and Judicial What is Statutory Law? - CORRECT ANSWER Law that is created by a legislative body, known as congress, at the federal Level. What is common Law? - CORRECT ANSWER Is Judge-Made Law. It is law that comes from previous Judge rulings in...

What is the principal source of stare decisis and precedent? A) Constitutional Law B) Administrative Law C) Statutory Law D) Common Law - CORRECT ANSWER Common Law A rent-to-own store offered for sale a sofa that was manufactured in a foreign county. The store intentionally represented that the sofa was made from leather, but in reality it was made from vinyl. A consumer used a credit card to purchase the sofa and hopes the Federal Trade Commission regulations can help resolve ...

What purpose does the law serve in our society? To resolve conflicts in our society without the ise of volence. What are the three branches of government? Executive, Legislative, and Judicial What is Statutory Law? Law that is created by a legislative body, known as congress, at the federal Level. What is common Law? Is Judge-Made Law. It is law that comes from previous Judge rulings in similar cases. What is administrative Law? A branch of law that governs the c...

precedent the tendency to decide current rulings based on previous cases, only binding in lower courts common law judge made law, often created through many precedents judicial power gives the right to interpret laws and determine their validity statutes legislature to become a law laws bill (congress), simple majority in house and senate -> president (veto power) -> 2/3 in house and senate -> statute injunction order to stop doing something ...

Which kind of law is made when an appellate court endorses a rule to be used in deciding court cases? Common Law Which kind of law is based on the customs of a group? Common Law Which kind of law is enacted by state or federal legislatures? Statutory Law Which type of law is used when the Federal Communications Commission publishes a regulation on cigarette advertising on television? Administrative Law A hair stylist and client disagree over whether the stylist pr...