Chapter 1 Business Law
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1
Precedent
The tendency to decide current cases based to previous rulings
2
Common Law
Judge-made law
3
Branches of Government
Legislative, Executive, and Judicial powers
4
Legislative Power
Gives the ability to create new laws. Includes Congress
5
Congress
House of Reps and Senate
6
House of Reps
435 voting members. Based on population
7
Senate
100 voting members. 2 from each state
8
Executive Powers
is the authority to enforce laws. The president is the Commander in chief of the armed forces.
9
Judicial Powers
gives the right to interpret laws and determine their validity. Supreme Court is the head of the Judicial branch.
10
Checks and Balances
President can veto Congressional Legislation. Congress can impeach the president. The Supreme Court can void laws passed by Congress. The President appoints judges to the federal courts, including the Supreme Court, but these nominees do not serve unless approved by the Senate.
11
State Constitution
establishes the state government guarantees the rights of state residents
12
US Constitution
establishes limited federal government protects states' power guarantees liberty for citizens.
13
State Legislature
passes statues on state law creates state agencies
14
Governor
proposes statues signs or vetoes statues oversees state agencies
15
State Courts
create state common law interpret statues review constitutionality of statues and other acts
16
Congress
passes statues ratifies treaties creates administrative agencies
17
president
proposes statues signs or vetoes statues oversees administrative agencies
18
Federal Courts
interpret statues create federal common law review the constitutionality of statues and other legal acts
19
1st Amendment
Free speech, free press, and the free exercise of religion
20
4-6 Amendment
protect the rights of any person accused of a crime
21
Statue
a law created by a legislature
22
Bill
A proposed statue submitted to Congress or a state legislature. Must win majority vote in each chamber
23
If Congress passes a bill...
Goes to president for approval. If president vetoes, congress can override the veto with a 2/3 vote in the House and the Senate.
24
Stare Decisis
"Let the decision stand"
25
regulations
Laws that agencies create.
26
Criminal Law
prohibits certain behavior for the benefit of society.
27
Civil Law
regulates the rights and duties between parties
28
Jurisprudence
the philosophy of law
29
Sovereign
The recognized political power, whom citizens obey.
30
The law must have
a moral basis
31
Legal Positivism
Law is what the sovereign says
32
Natural Law
An unjust law is no law at all
33
Legal Realism
Who enforces the law counts more than what is in writing.
34
Plaintiff
The party who is suing
35
Defendant
The party who is being sued.
36
Holding
statement of who wins and who loses
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