Chapter 1 & 2 Vocab. Intro to Business Law

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Chapter 1 & 2 Vocab. Intro to Business Law
2012-01-16 11:55:34
Business Law Legal Environment Chp Vocabulary

Business Law Legal Environment, Std. Edition, 5th Ed. By: Jeffrey F. Beatty, Susan S. Samuelson ISBN-10:0324663528
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  1. Stare decisis
    “Let the decision stand.” A basic principle of the common law, it means that precedent is usually binding.
  2. Administrative Law
    Concerns all agencies, boards, commissions, and other entities created by a federal or state legislature and charged with investigating, regulating, and adjudicating a particular industry or issue.
  3. Affirm
    A decision by an appellate court to uphold the judgment of a lower court.
  4. Amendment
    Any addition to a legal document. The constitutional amendments, the first ten of which are known collectively as the Bill of Rights, secure numerous liberties and protections directly for the people.
  5. Chancery, Court of
    In medieval England, the court originally operated by the Chancellor.
  6. Civil Law
    The large body of law concerning the rights and duties between parties. It is distinguished from criminal law, which concerns behavior outlawed by a government.
  7. Common Law
    Judge-made law, that is, the body of all decisions made by appellate courts over the years.
  8. Constitution
    The supreme law of a political entity. The United States Constitution is the highest law in the country.
  9. Criminal Law
    Rules that permit a government to punish certain behavior by fine or imprisonment.
  10. Defendant
    The person being sued.
  11. Equity
    The broad powers of a court to fashion a remedy where justice demands it and no common law remedy exists. An injunction is an example of an equitable remedy.
  12. Executive Order
    An order by a president or governor, having the full force of law.
  13. Federalism
    A form of national government in which power is shared between one central authority and numerous local authorities.
  14. Founding Fathers
    The authors of the United States Constitution, who participated in the Constitutional Convention in Philadelphia in 1787.
  15. Injunction
    A court order that a person either does or stops doing something.
  16. Issue
    All direct descendants such as children, grandchildren, and so on.
  17. Jurisprudence
    The study of the purposes and philosophies of the law, as opposed to particular provisions of the law.
  18. Legal Positivism
    The legal philosophy holding that law is what the sovereign says it is, regardless of its moral content.
  19. Legal Realism
    The legal philosophy holding that what really influences law is who makes and enforces it, not what is put in writing.
  20. Natural Law
    The theory that an unjust law is no law at all, and that a rule is only legitimate if based on an immutable morality.
  21. Plaintiff
    The person who is suing.
  22. Precedent
    An earlier case that decided the same legal issue as that presently in dispute, and which therefore will control the outcome of the current case.
  23. Procedural Law
    The rules establishing how the legal system itself is to operate in a particular kind of case.
  24. Remand
    The power of an appellate court to return a case to a lower court for additional action.
  25. Statute
    A law passed by a legislative body, such as Congress.
  26. Substantive Law
    Rules that establish the rights of parties. For example, the prohibition against slander is substantive law, as opposed to procedural law.
  27. Writ
    An order from a government compelling someone to do a particular thing.
  28. Ethics
    The study of how people ought to act.