Business Law: FINAL EXAM Study Guide with Complete Solutions Rated A
The document that sets forth the framework of a govern-
constitution
ment and its relationship to the people it governs.
based upon the current standards or customs of the peo-
Common law
ple.
Law that is dictated from above by a sovereign or other
positive law
central authority
business ethics Ethical principles used in making business decisions
Guidelines Laws made by administrative agencies
Doctrine that requires lower courts to adhere to existing
stare decisis
case law in making decisions
ordinances Legislative actions taken by city or town councils
statutes Laws enacted by state or federal legislative bodies
The type of law made when an appellate court endorses a
case law
rule to be used in deciding court cases
A collection of standards of conduct and moral judgment
ethics forming the basis for a reasoned, impartial decision as to
what is right and what is wrong
Thomas Jetterson author of the Declaration of Independence
We, the people, in order to form a more perfect union,
establish justice, insure domestic tranquility, provide for
the preamble to the U.S. Constitution (quote it) the common defense, promote the general welfare, and
secure the blessings of liberty to ourselves and our pros-
perity.....
Bill of Rights The first 10 amendments to the constitution
5th amendment the right to life, liberty and property
Executive, Judicial, and Legislative The three branches of the government
1/4
The document that sets forth the framework of a govern-
constitution
ment and its relationship to the people it governs.
based upon the current standards or customs of the peo-
Common law
ple.
Law that is dictated from above by a sovereign or other
positive law
central authority
business ethics Ethical principles used in making business decisions
Guidelines Laws made by administrative agencies
Doctrine that requires lower courts to adhere to existing
stare decisis
case law in making decisions
ordinances Legislative actions taken by city or town councils
statutes Laws enacted by state or federal legislative bodies
The type of law made when an appellate court endorses a
case law
rule to be used in deciding court cases
A collection of standards of conduct and moral judgment
ethics forming the basis for a reasoned, impartial decision as to
what is right and what is wrong
Thomas Jetterson author of the Declaration of Independence
We, the people, in order to form a more perfect union,
establish justice, insure domestic tranquility, provide for
the preamble to the U.S. Constitution (quote it) the common defense, promote the general welfare, and
secure the blessings of liberty to ourselves and our pros-
perity.....
Bill of Rights The first 10 amendments to the constitution
5th amendment the right to life, liberty and property
Executive, Judicial, and Legislative The three branches of the government
1/4
