Business Law Terms

  1. Sources of Law
    in the U.S. (4)
    • 1.Consititutions
    • 2.Statutes
    • 3.Court Decisions
    • 4.Administrative Regulations
  2. Law
    An Enforceable set of rules established by a government
  3. Purposes of Law (4)
    • 1.Protection of the Individual
    • 2.Protection of Society
    • 3.Protection of Property
    • 4.Promotion of Worthwhile Social Objectives
  4. Major reason for the development of law?
    Protection of the Individual
  5. Protection of Society?
    Laws that are designed to protect society help make our cities & towns safe
  6. Protection of Property
    Name a few ways
    • Destroyed or Damaged by others
    • Government can't take for public use with out compensation
    • Taxes on property only if it's reasonable
    • May pass property on to other after death
  7. Promotion of Worthwhile social Objectives
    • Law is not limited to regulationg conduct between individuals or between individuals & society.
    • Law may also used as positive force to promote worthwhile social objectives
  8. Roman Law
    Most important fact we use?
    Decisions were made by judges & juries, but a written record of those dicisions where not kept.
  9. What is Justinian Code?
    Emperor Justinian (527-565ad) developed a great body of law & written.
  10. What is Napoleonic code?
    • Napoleon I of France, revised Justinian Code in 1804.
    • Basis for most of the law in china, jappan & south america, & U.S. State of Louisiana.
  11. What is Common Law?
    Unwritten law based on Local English Customs
  12. What is Precedent?
    Eample or standard for deciding subsequent cases incolving the same or similar facts
  13. What is Satare Decisis?
    Practice by which judges follow precedents in preciously decided cases
  14. What's important to Remember about English Common LAw?
    the laws were Oral, not written down.
  15. What is Blackstone's Commentaries?
    • One of the first printed books containing important decisions of English Court Judges.
    • Several Vol. published 1765-1769
  16. What historical Law system was the bases for the Model for the U.S. legel system?
    English Common Law
  17. What is Constitutional Law?
    law derived from the U.S. Constitution and the constitution of the individual states
Card Set
Business Law Terms
Principles & Practices