What is business law
enforceable rules of conduct that govern relationships
purposes of the law
moral guide, expectations of citizens, provides order so you can depend on a promise
Private law
involves disputes between private individuals or groups ex: someone not paying their rent
Public law
disputes between private individuals or groups and their government ex: dumping waste into the environment
jurisprudence
the theory or philosophy of law
cost-benefit analysis
an economic school of jurisprudence in which all costs and benefits of a law are given monetary values. laws with the highest ratios of benefits to costs are then preferable to those with lower ratios
regulatory scheme
develop and conduct employee training and registered apprenticeship programs
constitution
establishes a federalist system of government, which allocates power among the three federal branches of government
schools jurisprudence
Modern jurisprudence has divided in to four schools, or parties, of thought: formalism, realism, positivism, and naturalism. Subscribers to each school interpret legal issues from a different viewpoint
Precedent
tool used by judges to make rulings on cases based off-key similarities to previous cases
Historical School
A school of jurisprudence that uses traditions as the model for future laws and behavior. Also called tradition or custom
In personam jurisdiction
The power of a court to require a party (usually the defendant) or a witness to come before the court
Service of process
is the procedure by which courts present these documents to defendants.
Plaintiff
The person or party who initiates a lawsuit (also known as an action) before a court by fi ling a complaint with the clerk of the court against the defendant(s). Also known as claimant or complainant
Misdemeanor vs Felony
Felony: Serious crimes punishable by imprisonment for greater than one year, or death
Misdemeanor
Less serious crimes punishable by fines, or imprisonment for less than one year
Extortion (blackmail)
The making of threats for the purpose of obtaining money or property
long-arm statutes
enables the court to serve defendants outside the state as long as the defendant has sufficient minimum contacts within the state
Exclusive Federal Jurisdiction
The federal court system has exclusive jurisdiction over very few cases: admiralty cases; bankruptcy cases; federal criminal prosecutions; lawsuits in which one state; sues another state; claims against the United States; and patent, trademark, and copyri
Domestic corporation
corporation in the state in which it is incorporated
Foreign corporation
corporation in a state in which it conducts business but is not incorporated
Alien corporation
Business that is incorporated in a foreign country
Subject-matter jurisdiction
power of a court to render a decision in a particular type of case. State, Exclusive federal, and concurrent
Venue
Geographic location of the trial, usually done where the defendant/property resides
14th amendment
Prevents states from denying "the equal protection of the laws" to any citizen and "combats discrimination",
Standing
The legal right of a party or an individual to bring a lawsuit by demonstrating to the court sufficient connection to and harm from the law or action challenged
Search Warrant (Fourth Amendment):
A court order that authorizes law enforcement agents to search for or seize items specifically described in the warrant.
Government officials can obtain search warrants only if they can show probable cause to believe that the search will uncover specific
Deposition
a party's sworn answers to written questions
Forms of Alternative Dispute Resolution / Negotiation
Bargaining process in which disputing parties interact informally to attempt to resolve their dispute
Forms of Alternative Dispute Resolution / mediation
Disputing parties select a neutral party to help facilitate communication and suggest ways for parties for parties to solve their dispute
Forms of Alternative Dispute Resolution / arbitration
Disputes are submitted for resolution to private nonofficial persons selected in a manner provided by law
Procedural Due Process
Requires government to use fair procedures when taking life, liberty, or property
Substantive Due Process
Ensures basic fairness of laws that may deprive life, liberty, or property
Burden of proof
The duty of the plaintiff or prosecution to establish a claim or allegation by admissible evidence and to prove that the defendant committed all the essential elements of the crime to the jury's satisfaction beyond any reasonable doubt
Article I, Section 8 of the United States Constitution
provides the power to "lay and collect taxes, duties, imports and excises" used to provide essential services and encourage/discourage certain industries
Arraignment
First appearance in court by the right to counsel and they enter a plea to the charge
Plea bargain
agreement in which the prosecutor agrees to reduce charges or drop charges if defendant pleads guilty
Racketeer Influenced and corrupt organizations act (RICO)
Prohibits persons employed by or associated with an enterprise from engaging in a pattern of racketeering activity
Cyber Terrorist
hacker whose intention is to exploits a target computer to create a serious impact, sabotaging of businesses and orgs
Supreme Court
the highest federal court in the United States
How lawsuits get started
3 requirements /
1. standing - has to be the person that was personally affected by it
2. case or controversy - there must be a harmful relationship, actual or threatened actions, courts must have an ability to render a decision that will solve a dispute
Jurisdiction
(n.) an area of authority or control; the right to administer justice
Personal/inpersonam Jurisdiction
the power of a court to force a person to appear before it
long arm statuette
enables courts to serve defendants outside the state as long as the defendant has sufficient minimum contacts within the state
ex: having a house in the state, doing business in the state
in rem jurisdiction
Court jurisdiction over a defendant's property. can file a suit against property instead of owner
quasi in rem jurisdiction
Jurisdiction over real or personal property when the lawsuit has to do with personal liabilities not directly associated with the property.
ex: a claim against someones house, court can order to get the car too
Jurisdiction of a federal court
Citizens of different states and if amount in controversy exceed 75 grand a federal court may excessive jurisdiction
principal place of business and state on incorporation for suits
Where a company chooses to incorporate
Diversity Circumstance
Residents of different states can take each other to federal court even if its under 75 grand
Subject Matter Jurisdiction
the power of a court to hear a particular type of case in the venue they deem fit Product hurt people in Cali, business in Georgia, where the venue will be)
advisory opinion
In some judicial systems, a formal opinion on a point of law given by a judge or court when requested by a legislature or government official. If there is a case, those involved may not ask for this
Interrogetory
Written questions one party sends to another to answer under oath (Trial process involving discovery)
Deposition
Required testimony of a witness that is acquired out of court with no judge present Trial process involving discovery)
Requests to produce documents
Forces opposing party to produce certain information unless it is irrelevant to the case Trial process involving discovery)
Alternative Dispute Resolution (ADR)
The resolution of legal disputes through methods other than litigation, such as negotiation, mediation. Faster and cheaper, decision is known as an award
Arbitration
Disputes are submitted for resolution to private nonofficial persons selected in a manner provided by law
Mediation
disputing parties select a neutral party to help facilitate communication and suggest ways for parties to solve their dispute
negotiation
Bargaining process in which disputing parties interact informally to attempt to resolve their disputes
binding arbitration clause
Clause in contracts stating that all disputes must be handled through arbitration
med-arb
Both parties agree to start in mediation and, if unsuccessful, move on to arbitration
summary jury trial
Abbreviated trial that leads to a nonbonding jury verdict. If the parties involved disagree with the verdict, they may take it to regular trial
early neutral case evaluation
Select a third party and explain their respective positions to this neutral, who will then help them reach a settlement
Private trials
Like renting a judge, can be hard to afford
System of government created by constitution
federalism
Power that judiciary enjoys to review constitutionality of executive and congressional actions
checks & balances
Supremacy Clause
Article VI of the Constitution, which makes the Constitution, national laws, and treaties supreme over state laws when the national government is acting within its constitutional limits.
Preemption Doctrine
a doctrine that provides that federal law takes precedence over state or local law
Necessary for a search warrant
probable cause to believe that the search will uncover a specific evidence of criminal activity
acts of crime (actus, mens)
actus reus - wrongful behavior (guilty act)
mens rea- wrongful state of mind, such as purpose, knowledge, recklessness, or negligence (guilty mind)
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