-
What is the law?
A rule that must be obeyed
-
What kind of legal system does the U.S. have? (excluding Louisiana)
Common Law
-
What are the sources of law?
- US Constitution
- State Constitution
- Treaties
- Equities
- Statutes
- Common Law
- Administrative Law
-
Law defined by Black's Law Dictionary.
A rule that must be obeyed by citizens
-
What is the Common Law System?
- Judge-made laws includes cases, tribunals etc... that are more flexible thatn civil law.
- Use Precendents
-
What is a Precedent?
Case is decided on using the same principles as previous cases were decided upon.
-
What is a treatie?
Eg. (NAFTA) Agreed upon and ratified agreement with foreign nations.
-
What is Stare Decisis?
"To let a decision stand" Precedent is binding on later cases.
-
What are Equities?
Judges POWER increases to make things right.
-
What are Statutes?
- Congres has the power to pass laws on certain subjects. (Military).
- State also has this power (Family laws)
-
What is Administrative Law?
Administrative agencies oversee day to day work. (Regulators of U.S. and State Laws)
-
What are the classifications of law?
- 1. Criminal and Civil
- 2. Substantive and Procedural
- 3. Public and Private
-
What is Criminal Law?
- -Concerns behaviors society has outlawed due to its threatening nature.
- -Guilt is determined
- -Punishments include fines or imprisonment
-
What is civil law?
- -Regulates the rights and duties between parties.
- -Damages are determined
- -Remedy: Compensation
-
What is Substantive Law?
Defines the rights of people (landlord-leasee) which restricts conduct (you should not murder).
-
What is Procedural Law?
Establishes the process of settling disputes
-
What is Public Law?
Rights and obligations of governments as they deal with the nation's citizens. (between you and the government)
-
What is Private law?
Regulates duties between individuals, private sector (landlord-tenant laws)
-
Who were the Federalists?
Those who supported strong central government.
-
Who were the Anti-Federalists?
Those who supported strong state government.
-
What is the Constitution?
- A series of compromises about power between the Federal and State governments.
- Supreme law of the land.
-
What is the Bill of Rights?
Part of the constitution that guaranteed many liberties to individual citizens.
-
What is the Commerce Clause?
Congress has power to regulate commerce with foreign nations and among the states.
-
What is International Commerce?
Exclusive power for the Federal government to regulate commerce/trade among nations.
-
What is Domestic Commerce?
The States and Congress both regulate commerce/trade among states.
-
What is the Substantial Effect Rule?
Congress may regulate any activity that has substantial economic effect on interstate commerce.
-
What are the three separations of power?
- 1. Executive
- 2. Legislative
- 3. Judicial
-
What is Executive Power?
Power of the President
-
What are the 3 key powers of the President?
- 1. Appointment - appoint heads of administrative agencies
- 2. Legislation- propose/veto bills
- 3. Foreign Policy- conduct the nation's foreign affairs (military command)
-
What is Judicial Power?
Power of the Supreme and Judicial Courts. Includes 2 key functions.
-
What are the two key functions of the Judicial branch?
- 1. Adjudicating- Fed Court hears civil and criminal cases
- 2. Judicial Review- Federal courts can declare a statue or government action unconstitutional/void
-
What is Judicial Activism?
The Court's willingness/eagerness to become involved in major issues.
-
What is Judicial Restraint?
The attitude that courts should leave the lawmaking to legislators and nullify a law when it unquestionably violates the constitution.
-
Why is Business Law important?
- 1. It is mandatory
- 2. Needed to achieve success
-
What is the First Amendment?
Freedom of Speech, Assembly, Press, Religion
-
What is the Second Amendment?
Right to Bare Arms
-
What is the Third Amendment?
Right to Privacy
-
What is the Fourth Amendment?
Right to due process, double jeopardy.
-
What is the Fifth Amendment?
Protection from self-incrimination. (I plead the fif)
-
T/F Constitution has 3 compromises:
1. Separation of Power
2. Federalism (defines Federal power)
3. Defines individual rights
True.
-
What is the Checks and Balances system?
- Each of the three branches of government can limit the power of another branche(s) so that no one
- branch achieves excessive power.
-
Most business laws are _______ laws.
A. Federal
B. State
B. State
-
What are individual rights?
Rights that protect people from teh Government or anyone who has government power.
-
What are the restrictions on the freedom of speech?
- 1. Time, Place, Manner
- 2. Morality/Obscenity
- 3. Commercial Speech (false, misleading)
- 4. Fighting Words
- 5. Inciting Lawlessness
- 6. Libel/Slander
-
What is the Takings Clause?
Governement can take private property for public use as long as the owner is justly compensated.
-
What is the Fourteenth Amendment?
Equal Protection Clause. All people must be treated equally.
-
What are the three groups under the equal protection clause?
- 1. Minimal Scrutiny (economic and social)
- 2. Intermediate Scrutiny (gender, place/time/manner)
- 3. Strict Scrutiny (race, fundamental rights)
-
How is a law made?
State/local bill is sent to Congress (HoR and Senate) then to the President where it is vetoed or passed as a law.
-
What is the 3 step process to interpret the law?
- 1. Plain Meaning
- 2. Legislative Intent (What the court believes the legislature indends)
- 3. Public Policy
-
What are the 3 types of U.S. Court Systems?
- 1. Trial Court
- 2. Appellate Court
- 3. Supreme Court
-
What is Jurisdiction?
The courts ability to hear a case and make a binding decision.
-
What does the Appellate Court do?
- Reviews Trial Courts decicion and facts.
- Looks for errors of law (is the judge's interpretation correct?)
-
What is the 3-step process to Civil Litigation?
- 1. Pre-trial. Pleadings
- 2. Discovery (fact find)
- 3. Trial
-
What is the difference in the Burden of Proof pertaining to a Criminal and Civil trial?
- Criminal- needs to be beyond a reasonable doubt that the defendent is guilty
- Civil- majority vote (51/49)
-
What are the 5 steps to start a business?
- 1. Figure out what laws apply
- 2. Pick a Business Entity
- 3. File Business Name with the Secretary of the State
- 4. Taxes and Employees (FEIN or TIN)
- 5. Licensure and Permits
-
What are the different Business Entities?
- 1. Sole Proprietorship
- 2. General/Limited Partnership/LLP
- 3. LLC
- 4. S-Corp
- 5. C-Corp
-
Describe a Sole Proprietorship pertaining to:
Liability, Raising Capital, Management, Taxes and Formation/Operating Regulations.
- 1. Liability: Unlimited Personal
- 2. RC: Limited what can be obtained
- 3. Mgt: 100% management
- 4. Tax: Taxed as an individual
- 5. Formation/Operating Regulations: N/A
-
What is Voir Dir?
Jury Selection
-
Describe a General Partnership pertaining to:
Liability, Raising Capital, Management, Taxes and Formation/Operating Regulations.
- Liability: Unlimited liability for both partners
- RC: Limited to Partner Resources
- MGT: 50-50
- Taxes: Individual
-
What is Partenership by Estoppel?
Partnership is stopped by denying there is a partnership unless it looks/feels/acts like a partnership in the government's eyes.
-
What is a Limited Partnership?
Investor, non-managers that have little say in daily operations.
-
Describe a LLC pertaining to:
Liability, Taxes and Formation/Operating Regulations.
- Liability: Limited
- Taxes: no double taxation
- F/O REG: Operating Agreement, Articles of Organization
|
|