Business Law 1/13/2022Law - rule regulation or standard that defines conduct acceptable to society Roles of law in society- define and encourage acceptable conduct1. Important laws are clear to everyone2. To assist to resolving disputes and conducts 3. Preserve society’s values 4. The law has to be flexible enough to change with society’s values or technology change ex. (Internet) -technology- (Use or Growth of marijuana) -Society values change- Immigration laws (Uncertainty) Sources of law Primary source is the U.S. constitution -supreme law in the united states-kk- Created the three branches of gov1. Legislative (senate, HOR, Congress) 2. Judicial Court system (issue judgments or decisions) -precedential value-3. Executive Branch (presidential) executive decisions make new laws -Every state has a state constitution that is the supreme law in that state unless it conflicts with the US constitution -Regulated businesses include nuclear, banking, etc follow regulations from that particular industry Classifications of Laws Public vs. Private -Public means it is a law that applies to all of us to members of the public -Private laws applies to a smaller group of people Civil vs. Criminal - the criminal is a more serious offense to violate than a civil law- For civil one must show a preponderance of the evidence (more than 50% of x)- The sanctions for violating the civil law are less serious -If convicting someone against criminal law, the burden of proof is a lot moreProcedural vs. Substant - It is not right to do something (Substant, Statutory) - Defines the step and what is in each step throughout the trial (Procedural)Business ethics and corporate code of conduct - Corporations have written codes of conduct (here is what is acceptable and here’s what happens when you cross the line)- They do this because it could damage or ruin the business if the publicity is too bad- No matter how many codes of conducts someone gives out there will be a person that crosses the line- If the company had the policy to control their employees, it will help - to financially protect the business in a lawsuit Other countries can produce any product at a cheaper cost due to costs of labor (minimum wage, child labor laws, discriminatory laws, benefits) Make the product as safe as you can within economic reason Assumption of risk Business Law 1/18/22 Two systems of court: Federal and State- More state courts so more cases take places there94 federal district courts staffed by 700 judges Civil cases are running months before hearings Criminal cases get scheduled before civil US district court is only federal court where you can have a jury - Only court with magistrates (helps judge expedite the case) - Magistrate can act as judge and hear the decision if all parties agree - If either party is unhappy you have the right to appeal to us court of appeal - File written grief (summary of where error was believed to be) 1. US court of appeals then goes to US supreme court 2. File a writ of Certiorari (here is why my case is so important) 3. 4 out of 9 justices have to agree to hear it or US appeal court’s decision is final US supreme court takes cases in different states - Also if there is an issue populating around the country to promote certainty and remove back law - Will not take cases with technical issues The three tier system is court of general jurisdiction Limited jurisdiction can only hear certain disputes ( tax can only hear tax) One has to be nominated by president of US and nominated by Senate - Get lifetime appointed as a federal judge and judicial immunity - Can not be sued for damages - In order to decide cases based solely on the law State court system basically mirrors federal- 3 tier system Court of general jurisdictionYou have the right to ask for state supreme court - Violation of state supreme rights, if there are conflicting decisions between the state, do not want technical cases Municipal court, traffic Probate court, Someone dies Small claims courts, limited jurisdiction (do not pay back deposits or loans) -quicker cheaper-State judges appointed by governor or elected by people for a fixed term They have to get re elected or reappointed - Judicial immunity Federal rules of civil procedure - Govern trial process in a civil trial Jurisdiction (does the court have authority to hear your case and issue a binding decision) - In US the court must have subject matter jurisdiction and personal jurisdiction - Personal is determined where the parties dispute with (both parties in SC)- Federal court has personal jurisdiction covers certain geographical areas - Long Arm statute is an attempt by the state to help instate clients - If that person causes bodily injury in the state - If you can serve a copy of the complaint and the summons on the defendant while they are in your state A lot of states are incorporated in DelawareLong Arm statutes states you get jurisdiction in any physical presence Subjet matter jurisdiction is defined by the law itself 1. Exclusive and concurrent Exclusive (federal law says courts have exclusive jurisdiction of federal crimes bankrupcy etc.) State laws generally say the state has exclusive jurisdiction over different laws The plaintiff can generally choose to sue in federal or state court If there is concurrent jurisdiction and plaint of citizenship the federal court will only accept the case if it is worth 75,000 or more - Exception to general rule in Rem jurisdiction says that if the dispute involves property of any kind the state of where that property is located the state where the property is located has jurisdictionPlaintiff can decide whether the state is more pro business or what judge you may draw Choice of law or conflict of law -if your in the fedral system (if the issue relates to federal, the federal court will apply the federalsubstance of law to resolve the dispute) - If it does not involve federal they will apply state Some states still have death penalty when others don’t All states have adopted choice of law rules - Historic choice of law ( says you apply the substance of law in the state in which the underlying event occurred) - Emerging choice of law rule ( says apply the substance law of state that has the most significant interest in dissolving the dispute) Businesses do as much as they can through written contracts (very detailed) - Quicker and less expensive to resolve dispute and the judge can decide who breached it 4