BLAW Chap 1

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BLAW Chap 1

Business Law Final Review

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law based on statuatory codification of law, law exists primarily in statute, romano-germanic
civil law
law based on written judicial decisions that establish precedent
common law
Continental Europe, Latin America, Japan, Former french colonies, Spain
civil law
United Kingdom, canada, new zealand, Jamaica, U.S. India
common law
law dealing with regulation of society
public law
law dealing with issues that concern private resource relationships
private law
constitutional law-private or public?
administrative law- public or private?
criminal law-public or private?
property law- public or private?
contract law-public or private?
tort law-public or private?
law dealing with private rights between people
civil law
law dealing with offenses against society at large
criminal law
involves torts & contracts, damages, and results in no punishment
civil law
prosecuted by gov;t and results in punishment
criminal law
THE WHAT- the part of the law creating, defining, and regulating rights, duties, and powers
substantive law
THE HOW- the part of the law telling the methods/means for having duties enforces
procedural law
sources of law
constitution,legislation,administrative regulations, judicial decisions/case law
formal written laws
adopt rules and regulations, investigate and hold hearings, and criminally prosecute

includes EPA/SEC/OSHA
Administrative regulations
advantages of precedent
certainty, predictability, stability
disadvantages of precedent
volumes of cases, conflicting precedents, dicta, rejection of precedent, conflict of law
a court's decision on the same issue within the same jurisdiction should generally be follow by other courts with the same jurisdiction in subsequent cases
stare decisis
opinions of a judge that go beyond the facts of the case