Study Guide: Legal Test
53 Cards in this Set
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law
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a term which does not have a universally accepted definition, but one definition is that law is a system of rules and guidelines which are enforced through social institutions to govern behavior.
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adequately enforced system
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every prosperous economy has a what
provides maximum incentive to entrepreneurs, inventors and investors (Private Property in the US)
secures the elements of trust and certainty that are vital to economic transactions among strangers
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Putting oil entrepreneur in jail
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Russian president can take away what he deems a threat to his seat in the house
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You can Sue them
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Why do you trust a random person all the way across the nation?
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The Rule of Law
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refers to the influence and authority of law within society, especially as a constraint upon behavior, including behavior of government officials.
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Property
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that which is had by or belongs to/with something, whether as an attribute or a component.
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An adequately enforced system of equally applied law
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this is a prerequisite for a strong, prosperous economy
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Prosperous Economies under good law programs
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1. Provides maximum incentive to entrepreneurs, investors and inventors
2. Secures the elements of trust and certainty that are vital to economic transactions among strangers
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Law
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...
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gives people incentive to adhere to law
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how does law, rule of law, and property connect with each other
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contract law
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an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between them.
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Tort Law
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a civil wrong which unfairly causes someone else to suffer loss or harm resulting in legal liability for the person who commits the tortious act, called a tortfeasor.
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Criminal Law
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the body of law that relates to crime. It regulates social conduct and proscribes threatening, harming, or otherwise endangering the health, safety, and moral welfare of people.
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Law of Business Organizations
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Identifies how individuals in a business can own and use resources within a group
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Antitrust Law
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law that promotes or maintains market competition by regulating anti-competitive conduct by companies.
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Securities Law
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the field of U.S. law that covers various aspects of transactions and other dealings with securities. (ownership of profit making opportunities)
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formalism
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describes an emphasis on form over content or meaning in the arts, literature, or philosophy.
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What is Law?
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the glue that holds down a group of very diverse people
a formal social force that means law comes from the state and are usually written down and accesible so those who need to understand and obey them can Why do laws need to be written down?
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Why do laws need to be written down?
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the reason for writing down laws is to have them accessible for everyone and so everyone can obey them
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The rule of law
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In a society governed by ________________ , the law is generally and equally applicable to everyone
this rule governs lawmakers to make better laws that benefit not only the citizens but for themselves as equal citizens
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Property
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Another word for describing ownership
Legal right of ownership vs. individual resources
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Property
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May be thought of as a collection of positive rights- to use possess and transfer- or a single negative right to exclude
The right for an individual to claim something and the law is there to help him claim it
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Property
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historically known as the foundation of capitalist economics
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Common Law
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Legal system that emphasizes the role of judges in determining the meaning of laws and how they apply
used today to determine the meaning of the constitution
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Civil Law
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relies more on legislation than judicial decisions to determine what the law is
do not follow precedents
judges play a much more important role in determining law
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Public Law
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includes those matters that involve the regulation of society as opposed to individuals
government official represents society
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Constitutional Law
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the body of law which defines the relationship of different entities within a State, namely, the executive, the legislature, and the judiciary.
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Administrative Law
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the body of law that governs the activities of administrative agencies of government.
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criminal law
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which specifies various offenses against the proper order of the state
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Private law
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that part of a civil law legal system which is part of the jus commune that involves relationships between individuals, such as the law of contracts or torts, and the law of obligations (as it is called in civil legal systems).
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Property Law
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the area of law that governs the various forms of ownership and tenancy in real property and in personal property, within the common law legal system.
private law
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Contract Law
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which covers the rules of how owners transfer resources by exchanging them
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Tort Law
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a civil wrong which unfairly causes someone else to suffer loss or harm resulting in legal liability for the person who commits the tortious act, called a tortfeasor.
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Substantive Law
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the statutory or written law that defines rights and duties, such as crimes and punishments, civil rights and responsibilities in civil law.
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Procedural Law
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deals with the method and means by which substantive law is made and administered
Ex. the time allowed for one party to sue another and the rules of law governing the process of the lawsuit are examples of procedural laws
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Federal Law
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the body of law created by the federal government of a country. A federal government is formed when a group of political units, such as states or provinces join together in a federation, surrendering their individual sovereignty and many powers to the central government while retaining or…
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Constitutions
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a set of fundamental principles or established precedents according to which a state or other organization is governed.
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Legislation
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law which has been promulgated (or "enacted") by a legislature or other governing body, or the process of making it.
acts and statutes
Clean air act
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administrative Law
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associated with business mostly
this says what a business can and cannot do
this is a part of federal law
Example: Environmental Protection Agency
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Legislation
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embodies both Federal and state
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Federal Legislation
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Passed by both chambers of the US Congress and signed into law by the president
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State Legislation
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Passed by one or both chambers of a state legislature and signed by the governor
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Case Law
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Based on the term stare decisis
a precedent or authority is a principle or rule established in a previous legal case that is either binding on or persuasive for a court or other tribunal when deciding subsequent cases with similar issues or facts.
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Stare decisis
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a precedent or authority is a principle or rule established in a previous legal case that is either binding on or persuasive for a court or other tribunal when deciding subsequent cases with similar issues or facts.
Let the prior decision stand
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Volume of Cases
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even with computers searching through hundreds of thousands of cases and then identifying and reading the significant ones is often a very great task
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Conflicting precedents
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Sometimes in searching prior cases attorneys find cases in which judicial decisions conflict with one another
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Dicta
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a statement of opinion or belief considered authoritative though not binding, because of the authority of the person making it.
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Rejection of Precedent
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does not happen often
may be due to times changing
usually is based on the theory of originalism
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Conflicts of Law
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What state's law applies in certain situation
A guy from georgia sues a guy from ohio which one is represented under their law system
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case law
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courts are the institution in our legal system that interpret the meaning of the law
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common Law
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Legal system emphasizing the role of judges in interpreting and applying the law
uses Stare decisis
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Substantive Law
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What are the elements of a civil cause of action/crime
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sanction
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may be used against a person who has failed to comply with law
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Study Guide: Legal Test