Business Law CH 1

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Author:
jaggedice18
ID:
159473
Filename:
Business Law CH 1
Updated:
2012-06-20 17:21:38
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MGT 2050
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Terms for Ch 1
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  1. Administrative law
    the body of rules and principles that governs the duties and operations of federal or state administrative agencies, as commissions and boards.
  2. Civil law
    the body of laws of a state or nation regulating ordinary private matters, as distinct from laws regulating criminal, political, or military matters.
  3. Criminal law
    the laws of a state or country dealing with criminal offenses and their punishments.
  4. Public law
    • Also called public act, public statute. a law or statute of a general character that applies to the people of a whole state or nation.
    • 2.a branch of law dealing with the legal relationships between the state and individuals and with the relations among governmental agencies.
  5. Business law
    the body of rules, whether by convention, agreement, or national or international legislation, governing the dealings between persons in commercial matters.
  6. Common law
    is the collection of legal interpretations made by judges.
  7. Precedent
    • a legal decision or form of proceeding serving as anauthoritative rule or pattern in future similar or analogous cases.
    • 2.any act, decision, or case that serves as a guide or justification for subsequent situations.
  8. Stare Decisis
    the doctrine that rules or principles of law on which a court rested a previous decision are authoritative in all future cases in which the facts are substantially the same.
  9. Case Law
    law established by judicial decisions in particular cases, instead of by legislative action.
  10. Constitutional law
    the body of rules, doctrines, and practices that govern the operation of political communities.
  11. Private law
    • A branch of law dealing with the legal relationships of private individuals.
    • 2.a statute affecting only one person or a small number of persons directly.
  12. Statutory law
    the written law established by enactments expressing the will of the legislature, as distinguished from the unwritten law or common law.

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