Intro to Business Law Chapter 1, Lecture notes for Business Systems. Monmouth University (NJ)
nparisano
nparisano9 October 2017

Intro to Business Law Chapter 1, Lecture notes for Business Systems. Monmouth University (NJ)

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Intro chapter to Intro to Business Law
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Chapter 1 Law – the order or pattern of rules that society establishes to govern the conduct of individuals + the relationships among others (Keep society running smoothly) Right – legal capacity to require another person to perform or refrain from an action. Duty – an obligation of law imposed on a person to perform or refrain from performing a certain act. ** Duties and right coexist ** They are complimentary to one another 1. Individual Rights

• Given in the constitution • Every right goes hand in hand with a duty

Ex. Freedom of speech (right) don’t harm others by yelling fire (duty) • Rights can’t be taken away/ violated by any statutes, ordinances, or court decisions • Provide framework for government + other laws

2. Right of Privacy • Right to be secure against unreasonable search and seizures by gov.

• 4rth amendment • Police can’t search your house unless their suspicions is supported by a warrant.

• Protects individuals against intrusions by others. • Roe vs. Wade

■ Gives the woman a choice whether or not to have an abortion

3. Privacy and Technology • Unlawful to listen in on phone calls • Employers check social media to be carful • Unlawful privacy of technology no warrant • Lawful, out in the open not secured, don’t need a warrant

4. Constitutional law • Based on the constitution

Constitution – a body of principles that establishes the structure of a government and the relationship of the government to the people who are governed

• Documents + customs through time • State + Fed constitution

5. Statutory Law • Legislative acts declaring commanding or prohibiting something • Congress n state legislatures • Different acts (congress), transfer title property, govern corp creation (State) • Subdivisions (traffic Laws, licensing laws)

6. Administrative Laws • Administrative regulations – rules made by state n fed admin agencies • Department of labor (wages over time)

7. Private Law • The rules n regulations parties agree to as part of their conational relationship • Landlords + tenants, employers + employees.

8. Case law, Statutory Interpretation + Precedent Case Law = principles are expressed for the first time in court decisions

• Clarifies meaning of statute/providing statutory interpretation • House arrests, left house, court said he needs to be in the house for the time to count

• Create precedents – court decision that stands as the law for the particular problem in the future Stare decisions – “let the decision stand”; decision of the court should be saved as a guide or precedent + control the decision of a similar case in the future. (Can be overturned)

• Address long standing issues. Common law – body if unwritten principles originally based on usages/customs of the community that were recognized + enforced by the courts Relationship between case and common law

9. Other forms of law Treaties + executives orders

10 Uniform State Laws Representatives from every state draft statutes

• Uniform commercial codes regulations sale + lease of goods, commercial paper n letter of credit

Classification of Law 11. Substantive vs. Procedural S Law – creates, defines n regulates liabilities (determines when contact is made) P Law – states what must be followed in enacting right /liabilities

12. Criminal Law + Civil (Tort) Law Crime – wrongs against society Civ – wrongs against citizens

14 Law vs. Equity Equity – body of law that provides justice when the law does not offer an adequate remedy or application of the law would be terribly unfair.

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