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

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

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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.

a man in service to help will be bless
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