Business Law Exam 1 Flashcards

Here is a list of flashcards based on the Business law chapters 1 to 8 in a quiz format. Get to know about the Business laws with the help of simple and easy examples given in the flashcards. Learn with fun and grow with knowledge with us.

42 cards   |   Total Attempts: 182
  

Cards In This Set

Front Back
One purpose of the law
To settle disputes in a civil matter
How does stability and predictability affect businesses
Ensures success in business
2 types of common law courts
Court of law- awards money Courts of Equity- injunctions and specific performance
Substantive Laws
Creates laws and duties
Procedural laws
Enforces laws and duties
Private law
Governs relationships between people
Public law
Governs relationships between persons and the government
Civil Law
Regulates relationships between people
Criminal law
Regulates relationships between persons and society
Doctrine of Stare Decisis
A thing decided judges use precedents (using outcomes of previously decided cases with similar facts)
Marburry vs. Madison
States that Judiciary branch to decide what the law is
Three branches of government
Executive, Legislative, and Judiciary
Supremacy Clause
The US constitution is the supreme law of the land
14th ammendment
Applies US constitution to state level
Police Powers
10th ammendment Powers not delegated to US go to the States. General welfare, public order, health, morals and education