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Legal Aspects of Business test 1
Chapter 1
32
Law
Undergraduate 1
02/26/2013

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Term
Law
Definition
Body of enforceable rules governing relationships btwn individuals and btwn individuals and society
Term
Jurisprudence
Definition
The study/science of law
Term
Natural Law
Definition
denotes a system of moral and ethical principles that are inherent in human nature. Oldest and one of the most significant schools of legal thought.
Term
Positive Law
Definition
aka national law. the written law of a given society at a particular point in time which applies only to the citizens of that country or society
Term
Legal Positivism
Definition
school of thought that believes there is no law higher than the laws created by a nat'l gov't. laws must be followed to prevent anarchy.
Term
historical school
Definition
emphasizes the evolutionary process of law. concentrates on the origin and history of the legal system. Followers are more likely to make decisions based on precedence.
Term
legal realism
Definition
originated during 1920's. Believe law should be shaped by social forces and needs. Believe law can never be applied w/ total uniformity (each judge is different)
Term
sociological school
Definition
views law as a way to promote justice in society, ex: civil rights in the 1960's
Term
Primary Sources of Law
Definition
a source that establishes the law. Includes:
US constitution and state constitutions
statutes (laws) passed by the legislative branches
regulations created by agencies (ex:FDA)
Case Law(court decisions)
Term
Secondary source of law
Definition
a publication that summarizes/clarifies the primary sources. ex:legal encyclopedias
Term
Constitutional Law
Definition
The laws derived from the US and different state constitutions. US constitution is the supreme law of the land (its the basis of all law in the US)
Term
Tenth Amendment
Definition
gives the states all powers not granted to the federal gov't
Term
Statutory Law
Definition
body of law enacted by legislative bodies at any level of gov't
Term
Administrative Law
Definition
consists of the rules, orders, and decisions of administrative agencies
ex: FDA, EPA
Term
Executive Agencies
Definition
exist w/in the cabinet departments of the exec branch. Subject to the authority of the president (appoints and removes officers)
Term
Independent regulatory agencies
Definition
not part of the executive branch. Officers serve fixed terms and can't be removed w/out just cause
ex:SEC, Fed Trade Commission
Term
enabling legislation
Definition
specifies the name, composition, purpose, and powers of the agency being created
Term
adjudicate
Definition
to resolve judicially.
Adjudication is the trial-like proceeding in which and administrative law judge decides on issues relating to an agency
Term
administrative process
Definition
procedure used by administrative agencies in the administration of law
Term
Rulemaking
Definition
one of the major functions of an administrative agency. Creating/modifying rules in accordance w/ its enabling legislation
Term
Administrative Law Judge(ALJ)
Definition
One who presides over and administrative agency hearing. They hear the facts of the case and makes a decision
Term
case law
Definition
the rules of law announced in court decisions. Covers everything not part of statutory law or administrative law.
Part of the common law tradition
Term
common law
Definition
body of law created by the accumulation of precedent in cases. The US follows the common law system
Term
stare decisis
Definition
"let the decision stand" judges are obligated to follow the precedents established in earlier cases
Term
binding authority
Definition
any source of law that a court must follow when deciding a case
ex:constitutions, statues, precedents
Term
Persuasive Authority
Definition
Any legal authority or source of law that a court can look to for guidance, but doesn't need to rely on for a decison. Include cases from other jurisdictions and secondary sources of law
Term
Remedy
Definition
means given to a party to enforce a right or to compensate for the violation of a right
ex: paying victim a certain amt after an accident
Term
Equity
Definition
A body of law that addresses concerns outside the jurisdiction of the common law. for example, issuing restraining orders or injunctions
Term
Substantive Law
Definition
Law that defines, describes, regulates, and creates legal rights and obligations
Term
Procedural Law
Definition
Laws that establish the methods of enforcing the rights established by substantive law
Term
Civil Law
Definition
regulates the rights and duties of parties
one private party sues another private party
goal is to obtain compensation
guilt is not determined
burden of proof is lower
Term
Criminal Law
Definition
deals w/ dangerous behavior outlawed by society
gov't prosecutes the accused
guilt is determined
burden of proof must be beyond a reasonable doubt
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