Bussiness Law Study Guide

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Unit 1 Study Guide For Business Law
Chapter 1
1. The Natural Law School of jurisprudence postulates that the law is based on what is "correct." 2. The Historical School of jurisprudence believes that the law is an aggregate of social traditions and customs that have developed over the centuries. 3. The Analytical School of jurisprudence maintains that the law is shaped by logic. 4. The Sociological School of jurisprudence asserts that the law is a means of achieving and advancing certain sociological goals. 5. The Critical Legal Studies School proposes that legal rules are unnecessary and are used as an obstacle by the powerful to maintain the status quo. 6. The Law and Economics School believes that promoting market efficiency should be the central goal of legal decision-making. 7. English common law can be divided into cases decided by law courts, equity courts, and merchant courts. 8. Although administrative agencies are often informally referred to as the "fourth branch of government," the legislative branch of government has the power to make (enact) the law. 9. Statutes are written laws that establish certain courses of conduct that must be adhered to by covered parties. 10. The doctrine of stare decisis dictates adherence to judicial precedent. 11. Executive orders are issued by the executive branch of government, which includes the president of the United States and state governors. 12. American law is based primarily on English common law, but other legal systems, such as Spanish and French civil law, also influenced it. 13. The Natural Law School of jurisprudence is based on morality and ethics. 14. The Command School of jurisprudence proposes that the law should be a set of rules developed, communicated, and enforced by the ruling party, rather than a reflection of society's morality, history, logic, or sociology. 15. The doctrine of stare decisis promotes uniformity of law within a jurisdiction. 16. The United States Congress is empowered by the United States Constitution to enact federal statutes regulating foreign and interstate commerce. 17. The United States Constitution provides that the president, with the advice and consent of two-thirds of the Senate, may enter into treaties with foreign governments. 18. The executive branch of government is empowered to issue executive orders. 19. The legislative and executive branches of federal and state governments are empowered to establish administrative agencies to enforce and interpret statutes enacted by Congress and state legislatures. 20. Administrative agencies are often referred to as the "fourth branch of government.” 21. The courts of one jurisdiction are not bound by the precedent established by the courts of another jurisdiction. 22. Valid federal law takes precedence over any conflicting state or local law. 23. In Brown v. Board of Education, the United States Supreme Court held that the "separate but equal" doctrine violates the Equal Protection Clause of the Fourteenth Amendment to the United States Constitution.

Chapter 2
1. Juvenile courts are examples of limited-jurisdiction trial courts. 2. The highest court in a state court system is typically referred to as the state supreme court. 3. If all of the United States Supreme Court justices voting agree as to the outcome and reasoning used to decide a case, the decision is referred to as a unanimous decision. 4. If a majority of the United States Supreme Court justices agree as to the outcome of a case but not as to the reasoning for reaching the outcome, the decision is referred to as a plurality decision. 5. Jurisdiction over the property of the lawsuit is called in rem jurisdiction. 6. Venue requires lawsuits to be heard by the court with jurisdiction nearest the location in which the incident occurred or where the parties reside. 7. A justice who agrees with the outcome of a case but not the reason...
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