Business Law Terms

• 1.Consititutions
• 2.Statutes
• 3.Court Decisions
• 4.Administrative Regulations

An Enforceable set of rules established by a government

• 1.Protection of the Individual
• 2.Protection of Society
• 3.Protection of Property
• 4.Promotion of Worthwhile Social Objectives

Protection of the Individual

Laws that are designed to protect society help make our cities & towns safe

• 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

• 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

Decisions were made by judges & juries, but a written record of those dicisions where not kept.

Emperor Justinian (527-565ad) developed a great body of law & written.

• 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.

Unwritten law based on Local English Customs

Eample or standard for deciding subsequent cases incolving the same or similar facts

Practice by which judges follow precedents in preciously decided cases

the laws were Oral, not written down.

• One of the first printed books containing important decisions of English Court Judges.
• Several Vol. published 1765-1769

English Common Law

law derived from the U.S. Constitution and the constitution of the individual states