WVU BCOR 320 - Exam 1 Study Guide (7 pages)
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Exam 1 Study Guide
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Chapters 1-5
- Pages:
- 7
- Type:
- Study Guide
- School:
- West Virginia University
- Course:
- Bcor 320 - Legal Environment of Business
- Edition:
- 1
Documents in this Packet
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15 pages
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Lecture 38: Rights of shareholders
4 pages
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4 pages
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3 pages
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Lecture 35: Chapter 19 starting a business
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7 pages
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Lecture 18: Nature of property
2 pages
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3 pages
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Lecture 16: Intellectual Property
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2 pages
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Unformatted text preview:
Bcor 320 1st Edition Exam 1 Study Guide Lectures 1 9 Law Is a body of rules of action or conduct prescribed by controlling authority and having binding legal force It must be obeyed and followed by citizens Subject to sanctions or legal consequences Established by authority Body or system of rules Control or authority imposed Functions of laws Keeping the peace Promoting social justice Maintain the status quo Facilitating orderly change Facilitating planning Providing a basis for compromise Maximizing individual freedom 3 major legal systems 1 2 3 Romano Germanic Civil Law Islamic Law Anglo American Common Law Civil Law system A legal system derived from Romano and Germanic practice and set out in national law codes French Civil Code 1804 Code Napoleon Based on Jus commune but incorporated ideas of French Revolution Straightforward and each to read general principles German Civil Code 1896 Burgerliches Gestzburch Based on Jus commune Incredibly technical and precise rules intended as handbook for experts SHARI A Principle source of law in Saudi Arabia but followed to some extent in all Islamic countires Primarily a moral code Sources Sunna or traditional teachings and practices of prophet Muhammad Common Law System law based on customary practice of courts and is the basis of legal systems Comparison of legal systems Civil Law Ideological basis Positive Law and Laissez faire economics Rules based on general principles Codes Case law is respected as precedent Uses deductive reasoning Common law Ideological basis Natural Law Rules based upon specific circumstance Case law Case law required as a precedent Private and public Uses inductive Reasoning Origins of laws Inherited much from British law Founding Fathers created a multi level government which guaranteed citizens rights Accumulation of precedent in legal cases makes up the common law Statutes are passed by legislative body Substantive rules state parties rights Procedural rules determine how courts should settle
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BCOR 320: Exam 3
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