LEGL 2700 1 3 4 6 7 Chapter 1 1 13 16 3 Concepts for Functioning Market 1 Law Formal social force Made up of rules laid down by the state and backed up by enforcement 2 Rule of Law Generally and equally applicable Distinction between a dictatorship and a democracy all most follow the law The people hold the power to make sure the rule of law is followed No strong diverse economy without the practice of rule of law this encourages people to invest and produce because they can rely on courts to adhere a Rule of law nations adopt laws that support the private market because it is in everyone s interest including the lawmaker 3 Property a legal fence The legal right to exclude others from interfering with something that you own Also known as Ownership includes the right to turn to public authorities like Central concept underlying the Western legal System and for a functioning the police or the courts for help market refer to property wheel Three types of ownership fences 1 Public resources owned by the government 2 Private owned by an individual 3 Common resources owned by more than one individual Through the law of property individual s and business organizations can possess use and transfer their private resources 1 Gives people an incentive to develop their resources and provides for a property based legal system Property Wheel o Property o Contract Law o Constitutional Law Establishes the framework of the state whose purpose is to The legal right to exclude others from various resources Private law Determines how resources including labor are exchanged Center Spokes protect property in its broadest sense between owners Private law resources are wrongfully harmed by the actions of others Private law those who harm them theft regulate or redistribute an owner s resources resources in groups includes corporate governance o Administrative and Regulatory Law o Law of business Organizations Compensates owners through private civil lawsuits when their Identifies how individuals can own and use Provides public protection for private resources and punishes Concerns public laws that protect tax o Criminal Law o Tort Law Jurisprudence What have the judges said in that area of law Philosophies that explain origin of law and its justification not the law itself 1 Natural Law emphasizes universal moral principle and anything that contradicts nature is wrong can determine them through human reason Influenced by the ideas of Aristotle and John Locke 2 Positive Law 3 Historical School commands of the state of government and backed by force punishment contradicts natural law principles that have withstood the test of time in the nation historically tested principles emphasizes that contemporary law should focus on legal Developed by Friedrich Savigny 4 Sociological Jurisprudence to meet new developments in society Supports the idea that law can and should change Ex Second Amendment s right to bear arms 5 Legal Realism Tries to go beyond just the words of the law to examine what police administrators prosecutors and judges are doing to apply and interpret the law what is actually being enforced Law is what officials do about it Justice Oliver Wendell Holmes Jr Classifications of Law 1 Common law system and Civil Law system 2 Public and Private Law Common law Emphasizes the role of judges in determining the meaning of laws and how they apply mostly all British colonies with the exception of Louisiana a French colony assumptions accordingly refer to legislative statue more than judicial decisions and make Civil law i Louisiana quasi civil law system ii Both civil and common law courts decide the facts in a disputed case but civil law courts do not make law nor do judges feel obligated to follow prior precedent Public law regulation of society includes those matters that involve the regulation of society as opposed to individuals interacting interpretation and application of federal or state i Constitutional constitutions agencies bureaus boards or commissions ii Criminal iii Administrative Specifies various offenses against the proper order of the state covers the legal principles that apply to government Private Law Covers those legal problems and issues that concern your private resource relationships with other people i Property law Involves the recognition of exclusive right in both tangible and intangible resources Special areas of property law concern land goods copyrights trademarks patents and trade secrets ii Contract law Covers the rules of how owners transfer resources by exchanging them often involve enforceable promises to exchange resources in the future iii Tort law Establishes rules for compensation when an owner s legal boundaries are wrongfully crossed by another often but not always requires actual injury to the owner s resources 3 Civil and Criminal Law Civil Work out private rights against persons includes suits for breach of contract or tort cases request for damages or other relief that does not involve punishment against society and seeking to have the wrongdoer punished by the court system gov t representative tries to prove that suspect committed a wrong Criminal 4 Substantive Law and Procedural Law Substantive between them and the state Defines the legal relationship of people with other people or i define rights and duties ii Used to prove criminal acts iii Procedural laws must be followed to prove substance Procedural administered and by which rights duties are enforced Method and means by which substantive law is made and i Machinery that get you into the rights courthouse ii Ex Read Miranda rights right venue meet requirements 1 15 16 Sources of Law 1 Federal Law Constitution is the supreme law of the nation i Any law federal or state that conflicts with the constitution is said to be void and has no legal effect Next in hierarchy of federal law comes the legislation and statutes passed by Congress i Known as acts or statutes ii collection of acts statues are called codes Finally administrative law specifically that regulates business must be looked at i Administrative law is made by agencies of the federal government like the Environmental Protection Agency this regulation will be the most important regulatory law of the 15 independent regulatory agencies of the federal government State constitution statutes or acts established precedent regulatory law of state admin agencies ordinances counties and cities may also have administrative agencies to help plan local