CU-Boulder BCOR 3000 - Exam 1 Study Guide (7 pages)

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Exam 1 Study Guide



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Exam 1 Study Guide

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Overview of all Chapter on Midterm (1-3).


Pages:
7
Type:
Study Guide
School:
University of Colorado at Boulder
Course:
Bcor 3000 - Business Law, Ethics, and Public Policy
Edition:
1

Unformatted text preview:

BCOR 3000 1st Edition Exam 1 Study Guide Lectures 1 6 Chapter 1 Overview Key Terms and Definitions The law consists of enforceable rules which govern relationships among people and society What is an enforceable rule rules that are meant to be followed or impose consequences for not following them Example Is not paying your rent on the day that it is breaking the law yes because the consequences of not paying rent are in the terms of the landlord late fees fines etc There are several different sources of law Know which is which and that they are in a hierarchy Constitutions highest supreme power make treaties Statutes laws passed by the states Ordinances statutes passed by cities Regulations created by agencies create more specific statues Private Law dealing with contracts Court Cases common law with precedent used to interpret everything above when situations differ and need further discussion and investigation What are uniform laws laws recommended to be follow by all states but cannot be established nationwide by congress An example is with the drinking age In order to get all states on board with the same drinking age a tax was proposed to be place on liquor making it more expensive In order to not have the tax all states had to agree upon the same drinking age This is called bribery of law it is a way to force the hand so to speak Administrative Law agencies are created to help with rules orders and decisions These agencies can perform all three functions of the gov t Have been called the unofficial 4th branch Agency examples FDA IRS Dept of Homeland Security Agencies It will be important to know the key components related to Common Law 1 Precedent a court decision that become the example for future cases of a similar manner 2 Goal for law to be common or the same in all courts 3 Used where statutes do not apply or where a situation is too vague Question of Law vs Question of Fact Yes there is a difference Law the law itself and what it means Fact what



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