Business Law Final Notes

1. Laws and their Ethical Foundation 5 Q'C

of
stages growth
in Law
-

1. Individuals free to teak range

done
for wrong againstthem.
2. Leader aquires force revenge
power to

3. Leader courts
power to
gives
4. leader
The or central authority acts

preventand ponish
to

common as positive
raw
↓
↓
Law created rans created
as a of
result a prevent
to crime.
crime.

US legal System
·
English Common law
King's Bench, King HenryII1150
-

appointed Nobles
 Procedural law:Group of laws methods
that defines
for enforcing legal rights

Substantive law:Group of laws that define rights and

duties

Civil Rights:Personal, Human rights quaranteed by

constitution

Democracy -
Direct elections

Republic -
Citizens electofficials

Sovereignty -

Freedomfrom external control

Cyber law -
law thatis intended to
govern ther
Use of computers
Litigate:To resolve disposes in court

Mediator:Independant
3rd who
party dendous

resolve dispute
a
non-binding solution to

Arbitrator:Independant that
3rd party makes

Binding solution

Trial (ourt:1st court

tohear case
 Appellate court:Reviews decisions of lower courts
to see if there was an error

General Jurisdiction:Can hear case

any
Specific Jurisdiction:opposit

writ ofcertiorari - Order from supreme court

to obtain records
court

Circuit
Associal Courts:Court
that hears Minar

cases, trafic offenses, less

than $25K
Municipal Court:Heers traffic and cuminal offenses
small claims court:small claims $25 or less

courts: Wills and estate

probate
crime:punishable society
against
vicarious criminal liability:Where someone else could be

held responsible
Felony:More than
1 year in
prison $1000 fire

Mistemeanor: 1 year
lessthan in prison <$1000
fir
While collar crimes:workplace crimes, no violence

or injury

Defense:the
party
being accused

Procedural Defense:problems with hour evidence is

collected, or the wax person was

arrested

Contemptof Court:Action that hunders the administration

of justice in court

plea Borgain:less sense punishmentofpread

guilty
↑Attentional
Tr: civil
Private wrongdoing

Assart:Threat hurt
to

Battery:Harmful touching

Defamation:False that injurs

statement reputation

Invasion of
Privacy

Trespassing
conversion
Injunction:Liable, butno negligence

court
subpoema-written order to appear

of trial
Judgement:Final result

Contracts:Agreement between two parties that

creates an obligation

offeror -
makes after

offence -
recieves after

drawing before accepted

Revocation:with

countroffer

option:offers collateral have after open

to

offer-3mons offer open

Firm Max, keeps
agrees
Allenstance:Aparty to proposal

Contracts:Promise
Bilateral
contracts:performance
Unilateral
 Mirror image rule: be exact
terms must

Genuine Assent:
Agreementto enter into contract
by words or actions

Bescission:undo the deal

Ratification:Excroting agreement

Duress:Under stress to do something

Excertory:Not
already been done

Executed:Already Been done