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Business Law
Chapter 1
11
Business
Undergraduate 2
08/27/2010

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Cards

Term
Ethics
Definition
the study of what constitutes right or wrong behavior
Term
Breaches
Definition
breaks or fails to perform (breaches contract)
Term
Law
Definition
consists of enforceable rules governing relationships among individuals and between individuals and their society
Term
Primary Sources of Law
Definition

Sources that establish the law

1. The U.S. Constitution and the constitutions of the various sates

2. Statutes, or laws, passed by Congress and by state legislatures

3. Regulations created by administrative agencies, such as the federal Food And Drug Admin

3. Court cases (court decisions)

Term
Secondary sources of Law
Definition

books and articles that summarize and clarify the primary sources of law

(legal encyclopedias, compilations, official comments to statues, treatises, articles in law reviews published by law schools, and articles in other legal journals.)

Courts often refer to 2ndary sources of law, for guidance in cases

Term
U.S Constitution is the supreme law of the land. It is the basis of all law in the United States. A law in violation of the Constitution, if challenged, will be declared...
Definition
unconstitutional and will not be enforced no matter what the source.
Term
Statutory Law
Definition
Laws enacted by legislative bodies at any level of government such as the statutes passed by Congress or by state legislatures make up the body of law 
Term

Ordinances

 

Definition

statutes (laws rules or orders) passed by municipal or county governing unites to govern matters not covered by federal or state law.

often dealing with city or county land use (zoning ordinances)

 

Term

Federal statues, apply to all ______.

A state statue applies only within the _______ _______.

Definition

1. states

2. states' borders

Term
Uniform Laws
Definition

* each state has option of adopting or rejecting a uniform law

* only if a state legis. adopts a uniform law does that law become part of the statutory law of that state.

* state legis. may adopt all or part of a uniform law as it is written, or the legis. may rewrite the law however.

**hence, it may not be completely "uniform"

 

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