Ch.1 Law as a Foundation for Business

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  1. Constitutional Law
    Establishes the framework of the state whose purpose is to protect the property in its broadest sense.
  2. Administrative and Regulatory Law
    Concerns public laws that protect, tax, regulate, or redistribute an owner's resources.
  3. Criminal Law
    Provides public protection for private resources and punishes those who harm them.
  4. Tort Law
    Protects and compensates owners through private civil lawsuits when their resources, including those they have in themselves, are wrongfully harmed by the actions of others.
  5. Law of Business Organizations
    Identifies how individuals can own and use resources in groups. Includes corporate governance.
  6. Contract Law
    Determines how resources, including labor, are exchanged between owners.
  7. Property
    The legal right to exclude others from various resources. Also called "ownership."

Card Set Information

Author:
ndrewoliver
ID:
314136
Filename:
Ch.1 Law as a Foundation for Business
Updated:
2016-01-15 00:14:58
Tags:
vocabulary
Folders:
TheLegalAndRegulatroyEnvironmentofBusiness
Description:
Terms from chapter one.
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