ACCT 245 Business Law Exam 1 Questions
primary source of law - ANSWER establishes law on particular issue
ex: constitution of us, statutes, regulations created by admin agencies, case law
secondary source of law - ANSWER publication that summarizes or interprets
the law
constitutional law - ANSWER The body of law derived from the U.S. Constitution
and the constitutions of the various states
statutory law - ANSWER legislatively created law
Con: cant be too broad or narrow
administrative law - ANSWER law created by administrative agencies to carry
out duties and responsibilities
case law - ANSWER rules of law announced in court decisions
stare decisis - ANSWER common law doctrine where judges have to follow
precedents
Problem: no two cases are identical
substantive law - ANSWER law that defines describes regulates and creates
legal rights
procedural law - ANSWER law that establishes methods of enforcing the rights
established by substantive law
court of equity - ANSWER court that decides controversies and administers
justice
court of law - ANSWER historically court where only remedies were things of
value
jurisdiction - ANSWER authority of court to hear and decide specific case
Court has to have both types of juris for a civil case
personal jurisdiction - ANSWER requirements same in federal and state court, 4
diff ways for court to get over you
-If youre a resident of that state
, -If youre served within the borders of that state
-Consent to jurisdiction
-Long arm statute
long arm statute - ANSWER state statute that permits state to exercise
jurisdiction over nonresident defendants
subject matter jurisdiction - ANSWER requirements different in fed and state
courts
-State court: have to be in the right building
-Federal court: diversity of citizenship (ppl of diff states - if big enough case, fed
will take it) or federal questions (if case about federal matter, fed will take it)
venue - ANSWER geographic district where a legal action is tried and jury is
selected
standing to sue - ANSWER legal requirement that individual must have a
sufficient stake in a controversy before they can bring a lawsuit
trial courts - ANSWER where trials are held and testimony taken at state
appellate courts - ANSWER court of appeals/reviewing court; determines
whether trial court committed an error at state
supreme courts - ANSWER decisions of state's highest course final at state; only
scotus can overrule
US district courts - ANSWER at federal level equivalent of state trial court
US courts of appeals - ANSWER federal, 13 US courts of appeals; hear appeals
from district courts
SCOTUS - ANSWER highest level of federal court system
pleadings - ANSWER statements by plaintiff and defendant that detail facts
charges and defenses
complaint - ANSWER pleading made by plaintiff alleging wrongdoing on part of
defendant; initiates lawsuit in court
service of process - ANSWER delivery of complaint and summons to defendant
summons - ANSWER doc telling defendant that legal action is against them and
they must appear in court
primary source of law - ANSWER establishes law on particular issue
ex: constitution of us, statutes, regulations created by admin agencies, case law
secondary source of law - ANSWER publication that summarizes or interprets
the law
constitutional law - ANSWER The body of law derived from the U.S. Constitution
and the constitutions of the various states
statutory law - ANSWER legislatively created law
Con: cant be too broad or narrow
administrative law - ANSWER law created by administrative agencies to carry
out duties and responsibilities
case law - ANSWER rules of law announced in court decisions
stare decisis - ANSWER common law doctrine where judges have to follow
precedents
Problem: no two cases are identical
substantive law - ANSWER law that defines describes regulates and creates
legal rights
procedural law - ANSWER law that establishes methods of enforcing the rights
established by substantive law
court of equity - ANSWER court that decides controversies and administers
justice
court of law - ANSWER historically court where only remedies were things of
value
jurisdiction - ANSWER authority of court to hear and decide specific case
Court has to have both types of juris for a civil case
personal jurisdiction - ANSWER requirements same in federal and state court, 4
diff ways for court to get over you
-If youre a resident of that state
, -If youre served within the borders of that state
-Consent to jurisdiction
-Long arm statute
long arm statute - ANSWER state statute that permits state to exercise
jurisdiction over nonresident defendants
subject matter jurisdiction - ANSWER requirements different in fed and state
courts
-State court: have to be in the right building
-Federal court: diversity of citizenship (ppl of diff states - if big enough case, fed
will take it) or federal questions (if case about federal matter, fed will take it)
venue - ANSWER geographic district where a legal action is tried and jury is
selected
standing to sue - ANSWER legal requirement that individual must have a
sufficient stake in a controversy before they can bring a lawsuit
trial courts - ANSWER where trials are held and testimony taken at state
appellate courts - ANSWER court of appeals/reviewing court; determines
whether trial court committed an error at state
supreme courts - ANSWER decisions of state's highest course final at state; only
scotus can overrule
US district courts - ANSWER at federal level equivalent of state trial court
US courts of appeals - ANSWER federal, 13 US courts of appeals; hear appeals
from district courts
SCOTUS - ANSWER highest level of federal court system
pleadings - ANSWER statements by plaintiff and defendant that detail facts
charges and defenses
complaint - ANSWER pleading made by plaintiff alleging wrongdoing on part of
defendant; initiates lawsuit in court
service of process - ANSWER delivery of complaint and summons to defendant
summons - ANSWER doc telling defendant that legal action is against them and
they must appear in court
