LGS 200 Exam 1 Review - Abigail
Hammond
Uniform Commercial Code - ✔️✔️Facilitates commerce among the states by providing
a uniform, yet flexible, set of rules governing commercial transactions
Administrative Law - ✔️✔️The body of law created by administrative agencies (in the
form of rules, regulations, orders, and decisions) in order to carry out their duties and
responsibilities.
Administrative Agency - ✔️✔️A federal or state government agency created by the
legislature to perform a specific function, such as to make and enforce rules pertaining
to the environment
Regulations Govern: - ✔️✔️- a business's capital structure and financing
- a business's hiring and firing procedures
- a business's relations with employees and unions
- the way a business manufactures and markets its products
Federal Agencies - ✔️✔️Organizations that deal with a specific area of interest for the
federal govt
Executive Agencies - ✔️✔️Federal agencies that are part of the executive branch but
outside the structure of cabinet departments. Their heads typically serve at the pleasure
of the president and can be removed at the president's discretion.
Independent Regulatory Agency - ✔️✔️An administrative agency that is not considered
part of the government's executive branch and is not subject to the authority of the
president.
State and Local Agencies - ✔️✔️Often created as parallels to federal agencies, Cannot
conflict with U.S. Constitution/Federal Statutes/Federal Regulations, Cannot conflict
with state
Case Law - ✔️✔️The rules of law announced in court decisions; covers all law not
covered by statutory or administrative law
Case law interprets: - ✔️✔️- Statutes
- Regulations
- Constitutional provisions
- Other case law
, Stare Decisis and the Common Law Tradition - ✔️✔️The practice of deciding new
cases with reference to former decisions, or precedents, became a cornerstone of the
English and American judicial systems and formed a doctrine known as stare decisis
Stare decisis - ✔️✔️A common law doctrine under which judges are obligated to follow
the precedents established in prior decisions
Stare Decisis has two aspects: - ✔️✔️1. A court should not overturn its own precedents
unless there is a compelling reason to do so.
2. Decisions made by a higher court are binding on lower courts.
Controlling Precedents - ✔️✔️Precedents that must be followed within a jurisdiction;
type of binding authority
Binding authority - ✔️✔️Any source of law that a court must follow when deciding a
case; includes constitutions, statutes, and regulations that govern the issue being
decided, as well as court decisions that are controlling precedents within the jurisdiction.
The doctrine of stare decisis: - ✔️✔️- Helps the courts to be more efficient
- Makes the law more stable and predictable
Persuasive authority - ✔️✔️Any legal authority or source of law that a court may look to
for guidance but need not follow when making its decision
What can laws effect in business - ✔️✔️- Contracts
- Intellectual Property
- Torts
- Product Liability
- Sales
- Internet Law, social media, and privacy
- Environmental law and sustainability
Constitutional Law - ✔️✔️Laws relating to the interpretation of the Constitution; each
state has its own
Statutory Law - ✔️✔️The body of law enacted by legislative bodies (as opposed to
constitutional law, administrative law, or case law).
Statutory Conflicts - ✔️✔️Tension may sometimes arise between federal, state, and
local laws.
Ordinances - ✔️✔️A law passed by a local governing unit, such as a city or a county
Hammond
Uniform Commercial Code - ✔️✔️Facilitates commerce among the states by providing
a uniform, yet flexible, set of rules governing commercial transactions
Administrative Law - ✔️✔️The body of law created by administrative agencies (in the
form of rules, regulations, orders, and decisions) in order to carry out their duties and
responsibilities.
Administrative Agency - ✔️✔️A federal or state government agency created by the
legislature to perform a specific function, such as to make and enforce rules pertaining
to the environment
Regulations Govern: - ✔️✔️- a business's capital structure and financing
- a business's hiring and firing procedures
- a business's relations with employees and unions
- the way a business manufactures and markets its products
Federal Agencies - ✔️✔️Organizations that deal with a specific area of interest for the
federal govt
Executive Agencies - ✔️✔️Federal agencies that are part of the executive branch but
outside the structure of cabinet departments. Their heads typically serve at the pleasure
of the president and can be removed at the president's discretion.
Independent Regulatory Agency - ✔️✔️An administrative agency that is not considered
part of the government's executive branch and is not subject to the authority of the
president.
State and Local Agencies - ✔️✔️Often created as parallels to federal agencies, Cannot
conflict with U.S. Constitution/Federal Statutes/Federal Regulations, Cannot conflict
with state
Case Law - ✔️✔️The rules of law announced in court decisions; covers all law not
covered by statutory or administrative law
Case law interprets: - ✔️✔️- Statutes
- Regulations
- Constitutional provisions
- Other case law
, Stare Decisis and the Common Law Tradition - ✔️✔️The practice of deciding new
cases with reference to former decisions, or precedents, became a cornerstone of the
English and American judicial systems and formed a doctrine known as stare decisis
Stare decisis - ✔️✔️A common law doctrine under which judges are obligated to follow
the precedents established in prior decisions
Stare Decisis has two aspects: - ✔️✔️1. A court should not overturn its own precedents
unless there is a compelling reason to do so.
2. Decisions made by a higher court are binding on lower courts.
Controlling Precedents - ✔️✔️Precedents that must be followed within a jurisdiction;
type of binding authority
Binding authority - ✔️✔️Any source of law that a court must follow when deciding a
case; includes constitutions, statutes, and regulations that govern the issue being
decided, as well as court decisions that are controlling precedents within the jurisdiction.
The doctrine of stare decisis: - ✔️✔️- Helps the courts to be more efficient
- Makes the law more stable and predictable
Persuasive authority - ✔️✔️Any legal authority or source of law that a court may look to
for guidance but need not follow when making its decision
What can laws effect in business - ✔️✔️- Contracts
- Intellectual Property
- Torts
- Product Liability
- Sales
- Internet Law, social media, and privacy
- Environmental law and sustainability
Constitutional Law - ✔️✔️Laws relating to the interpretation of the Constitution; each
state has its own
Statutory Law - ✔️✔️The body of law enacted by legislative bodies (as opposed to
constitutional law, administrative law, or case law).
Statutory Conflicts - ✔️✔️Tension may sometimes arise between federal, state, and
local laws.
Ordinances - ✔️✔️A law passed by a local governing unit, such as a city or a county
