MIE 305 Exam 1: Questions With Expert-
Approved Answers
Save
Practice questions for this set
Learn 1 /7 Study with Learn
provides the rights and duties between parties, the powers and
responsibilites between government and non goverment parties, a
mechanism for creating laws, and a process for enforcing laws
Choose an answer
1 objectives of a legal system 2 Why study law in business?
3 private law 4 Law
Don't know?
Terms in this set (162)
Why study law in legal concepts, principles, and rules provide the
business? foundation for the conduct of business
, - law controls the relationships between parties
2 ways law& business
- law provides mechanisms by which gov regulates
intersect?
business behavior
Medieval legal system mainly in Europe that
Law Merchant
established practical rules of commerce and trade
1. knowledge of law allows one to identify legal risks
2 advantages of knowing and effectively reduce or eliminate liability
basics of law 2. can use the law to make informed decisions about
strategy(licenses, intellectual property, joint venture)
Regime that orders human activities and relations
through systematic application of the force of
Law
politically organized society, or through social
pressure, backed by force
laws that regulate and control the rights and duties
Substantive Law
of persons and are used to resolve disputes
laws that establish the process by which litigation is
Procedural Law conducted(how lawsuit begins, trial is conducted,
appeals)
Public law Bodies of law that affect the public generally
3 categories of public (Constitutional law, Administrative Law, Criminal Law)
law
concerned with the rights, power, and duties of
Constitutional law federal and state governments under the US
constitution and constitution of various states
concerned with the multitude of administrative
agencies, such as the Federal Trade Commission and
administrative law
their rulemaking and rule- enforcement powers
within government
consists of legally-enforceable rules that forbid
certain conduct as being detrimental to the welfare
criminal law
of the state or the people, and provides punishment
for their violation
body of law that pertains to the relationships
private law
between individuals in a organized society
, 3 parts of private law contracts, torts, and property
Civil law is synonymous private law
with?
the doctrine that law should adhere to decided
stare decisis
cases and "stand by the decision"
legal doctrine that once a dispute is litigated and
resolved, these parties are forever barred from
Res Judicta litigating the same matter again "the thing that has
been decided", this is between the parties
themselves and only the parties involved
statements of the court that are not necessary to
Dicta
decide the controversy before the court
1) maintain order, social control
Vago's purpose and
2)dispute resolution
functions of law
3)social change function
1. explicit rules of conduct
2. planned use of sanctions to support the rules
Social Control
3. designated officials to interpret and enforce the
rules
purposive, planned, and directed social change
Social change function
initiated, guided, and supported by the law
Vagos 2 paradigms of 1. consensus perspective
society 2. conflict perspective
- considers law as a neutral framework for
maintaining social integration
consensus perspective - law is an attempt to satisfy, to reconcile, to
harmonize, to adjust these overlapping and often
conflicting claims and demands
considers society as consisting of individuals and
groups characterized by conflict and dissension and
conflict perspective
held together by coercion
(order is temporary and unstable)
Approved Answers
Save
Practice questions for this set
Learn 1 /7 Study with Learn
provides the rights and duties between parties, the powers and
responsibilites between government and non goverment parties, a
mechanism for creating laws, and a process for enforcing laws
Choose an answer
1 objectives of a legal system 2 Why study law in business?
3 private law 4 Law
Don't know?
Terms in this set (162)
Why study law in legal concepts, principles, and rules provide the
business? foundation for the conduct of business
, - law controls the relationships between parties
2 ways law& business
- law provides mechanisms by which gov regulates
intersect?
business behavior
Medieval legal system mainly in Europe that
Law Merchant
established practical rules of commerce and trade
1. knowledge of law allows one to identify legal risks
2 advantages of knowing and effectively reduce or eliminate liability
basics of law 2. can use the law to make informed decisions about
strategy(licenses, intellectual property, joint venture)
Regime that orders human activities and relations
through systematic application of the force of
Law
politically organized society, or through social
pressure, backed by force
laws that regulate and control the rights and duties
Substantive Law
of persons and are used to resolve disputes
laws that establish the process by which litigation is
Procedural Law conducted(how lawsuit begins, trial is conducted,
appeals)
Public law Bodies of law that affect the public generally
3 categories of public (Constitutional law, Administrative Law, Criminal Law)
law
concerned with the rights, power, and duties of
Constitutional law federal and state governments under the US
constitution and constitution of various states
concerned with the multitude of administrative
agencies, such as the Federal Trade Commission and
administrative law
their rulemaking and rule- enforcement powers
within government
consists of legally-enforceable rules that forbid
certain conduct as being detrimental to the welfare
criminal law
of the state or the people, and provides punishment
for their violation
body of law that pertains to the relationships
private law
between individuals in a organized society
, 3 parts of private law contracts, torts, and property
Civil law is synonymous private law
with?
the doctrine that law should adhere to decided
stare decisis
cases and "stand by the decision"
legal doctrine that once a dispute is litigated and
resolved, these parties are forever barred from
Res Judicta litigating the same matter again "the thing that has
been decided", this is between the parties
themselves and only the parties involved
statements of the court that are not necessary to
Dicta
decide the controversy before the court
1) maintain order, social control
Vago's purpose and
2)dispute resolution
functions of law
3)social change function
1. explicit rules of conduct
2. planned use of sanctions to support the rules
Social Control
3. designated officials to interpret and enforce the
rules
purposive, planned, and directed social change
Social change function
initiated, guided, and supported by the law
Vagos 2 paradigms of 1. consensus perspective
society 2. conflict perspective
- considers law as a neutral framework for
maintaining social integration
consensus perspective - law is an attempt to satisfy, to reconcile, to
harmonize, to adjust these overlapping and often
conflicting claims and demands
considers society as consisting of individuals and
groups characterized by conflict and dissension and
conflict perspective
held together by coercion
(order is temporary and unstable)
