Business Law Notes

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Business Law – Complete Notes from Benjamin Wolfson
Class taken Spring 2008
Quiz questions at end of document

What is Law: Law is a set of rules for the peaceful resolution of disputes. (*better/more useful than book definition)

It is impossible to set up a system that always resolves conflict. -The phrase “law exists to protect our rights” is incorrect, because law gives us our rights. Without the law, we would not have them. [ryan] we always want disputes resolved peacefully.

Term of art (TOA) – word/phrase has a different legal meaning than the common definition. (*quizzes/tests will always ask to define TOA, not common)

“Classification of Law” (p3)
-Substantive Law: (the what bw)
Part of law which creates and defines individual/entity’s legal rights and obligations.

-Procedural Law: (the how bw)
Law which tells you how you go about enforcing your legal rights and obligations.

Ex) person’s right to sue another person/entity in a particular jurisdiction ⋄ Procedural (can you do this) Ex) Do you have the right to sue and recover from another person ⋄ Substantive Law

Hypo: buyer and seller of property (generic for today)
-buyer is resident of IL, Seller is resident of Indiana. Contract in Missouri. Wis, pursuant of contract is delivered in Iowa. -Dispute: each believes the other breached the contract.
-Lawsuit is brought in Kansas.
-Procedural law for that forum: forum where the lawsuit is occurring governs the rules. -Substantive law is different: Possible to be one or multiple jurisdictions.*detailed -no matter who wins the lawsuit, we use the procedural law of the state where the forum is located

[Sustentative Law] - creates and defines individual’s legal rights and obligations

Public Law vs. Private Law

Public law – applies to everyone – governmental laws/rights/power Private Law – exists because of the actions of the parties Ex) Ripple (wine) contract for selling X cases to another party. -Document has the force of law, thus other party has recourse upon breach of contract. -Was there any obligation to enter into the contract? No. You must voluntarily enter into the contract

Civil Law vs. Criminal Law

Criminal Law – [public law] protect society from undesirable conduct -punishment is meant to deter certain conduct.
-Fines, consequences.
-plaintiff = govt. (prosecutor)
Fines from criminal law go to dept of treasury

Civil Law – [private law]
-plaintiff = either private citizen/entity OR govt. Ex) if govt buys parts, parts defective, govt can bring civil suit.

Fines from civil law goes to victim

“There is much more civil law than criminal law”

Common Law – another name for case law/decisional law

Hypo: A strikes B with baseball bat.
A committed a crime: battery
Is it also a tort? ⋄ a tort is a civil wrong other than a breach of contract [‘breach of legal duty that exists by virtue of society’s expectations regarding interpersonal contact’] - Name of tort: Battery

Crime vs. tort:
Tort of battery: any unauthorized or offensive physical contact (hitting w bbbat) is battery [intentional tort]

Battery: any unauthorized physical contact: (no contact, no battery) Assault: threatened battery. [Threatened unauthorized physical contact]

Assault & not battery: A swings at B, B sees A coming to swing, B ducks, A misses. Battery & not assault: A sneaks up behind and hits B, B didn’t see A coming Assault and Battery: ‘A’ Swings and makes contact, B saw A coming Neither Battery or Assault: A sneak up behind B, swings and misses, (B never knew)

Neither Assault nor Battery (Could be attempted battery (maybe criminal liab. No civil liab)): A sneaks up behind B, B ducks and swings back at A
Burden of proof in criminal case: Higher burden of proof beyond a reasonable doubt Ex: Jury determines a small...
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