Business Law.txt

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Business Law.txt
2010-02-28 14:01:07
Business Laws

Business Law Chapter 1 Flashcards
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  1. Administrative Agency
    A federal, state, or local government agency established to perform a specific function. Administrative agencies are authorized by legislative acts to make and enforce rules to administer and enforce the acts.
  2. Administrative Law
    The body of law created by administrative agencies (in the form of rules, regulations, orders, and decisions) in order to carry out their duties and responsibilities.
  3. Allege
    To state, recite, assert, or charge
  4. Analogy
    In logical reasoning, an assumption that if two things are similar in some respects, they will be similar in other respects also. Often used in legal reasoning to infer the appropriate application of legal principles in a case being decided by referring to previous cases involving different facts but considered to come within the poicy underlying the rule.
  5. Appellant
    The party who takes an appeal from one court to another.
  6. Appellee
    The party against whom an appeal is taken-that is, the party who opposes setting aside or reversing the judgement.
  7. Binding Authority
    Any source of law that a court must follow when deciding a case. Binding authorities include constitutions, statutes, and regulations that govern the issue being decided as well as court decisions that are controlling precedents within the jurisdictions
  8. Breach
    To violate a law, by an act or an omission, or to break a legal oblication that one owes to another person or society.
  9. Case Law
    The rules of law announced in court decisions. Case law includes the aggregate of reported cases that interpret judicial precdents, statutes, regulations, and constitutinal provisions.
  10. Case On Point
    A previous case involving factual circumstances and issues that are similar to the case before the court.
  11. Chancellor
    An advisor to the king at the time of the early king's courts of England. Individuals petitioned the king for relief when they could not obtain an adequate remedy in a court of law, and these petitions were decided by the chancellor
  12. Citation
  13. Citation
    A reference to a publication in which a legal authority-such as a statute or a court decision- or other source can be found.
  14. Civil Law
    The branch of law dealing with the definition and enforcement of all private or public rights as opposed to criminal matters.
  15. Common Law
    That body of law developed from custom or judicial decisions in english an dUS Courts, no attributable to a legislature
  16. Constitutional Law
    Law that is based on the US Constitution and the constitutions of the various states.
  17. Court of Equity
    A court that decides controversies and administers jusitice according to the rules, principles, and precedents of equity
  18. Court of Law
    A court in which the only remedies that could be granted were things of value, such as money damages. In the early English king's courts, courts of law were distinct from courts of equity
  19. Criminal Law
    Law that defines and governs actions that constitute crimes. Generally, criminal law has to do with wrongful actions committed against society for which society demands redress.
  20. Cyberlaw
    An informal term used to refer to all laws governing electronic communications and transactions, particularly those conducted via internet.
  21. Damages
    Money sought as a remedy for a breach of contract or for a tortious act.
  22. Defendant
    One against whom a lawsuit is brought; the accused person in a criminal proceeding.
  23. Defense
    Reasons that a defendant offers in an action or suit as to why the plaintiff should not obtain what he or she is seeking.
  24. Equitable Maxims
    General propositions or principles of law that have to do with fairness (equity)
  25. Executive Agency
    An administrative agency within the executive branch of government. At the federal level, executive agencies are those within the cabinet departments.
  26. Historical School
    A school of legal thought that emphasizes the evolutionary process of law and that looks to the past to discover what the principles of contemporary law should be.
  27. Independent Regulatory Agency
    An administrative agency that is not considered part of the governments executive branch and is not subject to the authority of the president. Independent agency officals cannot be removed without cause.
  28. Jurisprudence
    The science of philosophy of law.
  29. Laches
    The equitable doctrine that bars a party's right to legal action if the party has neglected for an unreasonable length of time to act on his or her rights.
  30. Law
    A body of enforceable rules governing relationships among individuals and between individuals and their society.
  31. Legal Realism
    A school of legal thought that was popular in the 1920s and 1930s and that challenged many existing jurisprudential assumptions, particularly the assumption that subjective elements play no part in judicial reasoning. Legal realists generally advocated a less abstract and more pragmatic approach to the law, an approach that woudl take into account customary practices and the circumstances in which transactions take place. The school left a lasting imprint on American jurispurudence
  32. Legal Reasoning
    The process of reasoning by which a judge harmonizes his or her decision with the judicial decisions of previous cases.
  33. Natural Law
    The belief that government and the legal system should reflect universal moral and ethical principles that are inherent in human nature. The natural law school is the oldest and one of the most significant schools of legal thought.
  34. Opinion
    A statement by the court expressing the reasons for its decision in a case.
  35. Ordinance
    A law passed bya local governing unit, such as a municipality or a county
  36. Petitioner
    In equity practice, a party that initiates a lawsuit
  37. Plaintiff
    One who initiates a lawsuit
  38. Positive Law
    The body of conventional, or written, law of a particular society at a particular point in time.
  39. Positivist School
    A school of legal thought whose adherents believe that there can be no higher law than a nation's positive law- the body of conventional, or written, law of a particularl society at a particular time.
  40. Precedent
    A court decision that furnishes an example of authority for deciding subsequent cases involving identical or similar facts.
  41. Procedural Law
    Rules that define the manner in which the rights and duties of individuals may be enforced.
  42. Public Policy
    A government policy based on widely held societal values and (usually) expressed or implied in laws or regulations.
  43. Remedy
    The relief given to an innocent party to enforce a right or compensate for the violation of a right.
  44. Remedy At Law
    A remedy available in a court of law. Money damages are awarded as a remedy at law.
  45. Remedy in Equity
    A remedy allowed by courts in situations where remedies at law are not appropriate. Remedies in equity are based on settled rules of fairness,justice, and honesty, and include injunction, specific performance, recission and restitution, and reformation.
  46. Reporter
    A publication in which court cases are published or reported.
  47. Socialogical School
    A school of legal thought that views the law as a tool for promoting justice in society.
  48. Stare decisis (ster-ay dih-si-ses)
    A common law doctrine under which judges are obligated to follow the precedents established in prior decisions
  49. Statute of Limitations
    A federal or state statute setting the maximum time period during which a certain action can be brought or certain rights enforced.
  50. Syllogism
    A form of deductive reasoning consisting of a major premise, a minor premise, and a conclusion
  51. Uniform Law
    A model law created by the National Conference of Commissioners on Uniform State Laws and/or the American Law Institute for the states to consider adopting. If the state adopts the law, it becomes statutory law in that state. Each state has the option of adotping or rejecting all or part of a uniform law.