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Chapter 1: Business and Its Legal Environment
©
2013
Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.Slide2
Knowledge of ‘black-letter’ not enough - business now assumes an ethical dimension.
Many
Different Laws May Affect a Single Business Transaction.Ethics and Business Decision Making.
2
Business Activities
and the Legal EnvironmentSlide3
Ex. 1-1 Areas of the Law That May Affect Business Decision Making
3Slide4
Sources of American Law
Constitutional Law.
Statutory Law.Ordinances.Uniform Laws (NCCUSL).Uniform Commercial Code.
Administrative Law.
Federal Agencies.
State and Local Agencies.
© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
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Sources of American Law
Case
Law and Common Law Doctrines.Case law governs all areas of law not covered by statutory or administrative law.5Slide6
The Common Law Tradition
Early English Courts.
American law is based largely on English Common Law which was based largely on traditions, social customs, rules, and cases dating back to 1066 A.D. Precedent.6Slide7
The Common Law Tradition
Stare Decisis
(“to stand on decided cases”) is judge-made law.Importance of Precedents in Judicial Decision-Making. Precedents are ‘binding’ within a court’s jurisdiction.Stare Decisis and Legal Stability. Courts should not overturn their own precedents without compelling reasons.
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The Common Law Tradition
Stare Decisis
(“to stand on decided cases”) is judge-made law.Departures from Precedent. In cases of “first impression” a court may refer to positive law, public policy, or widely held social values to craft the decision.When There is No Precedent.
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The Common Law Tradition
Equitable Remedies and Courts of Equity.
Remedy: means given to a party to enforce a right or compensate for the violation of the right.Remedies in Equity. Equity is “beyond law” and looks at notions of fairness and justice. 9Slide10
The Common Law Tradition
Equitable Remedies and Courts of Equity.
At common law, there were two separate court systems:COURTS OF LAW (awarding money damages), and COURTS OF EQUITY (non-monetary relief) based on “notions of justice and fair dealing.”
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The Common Law Tradition
Equitable Remedies and Courts of Equity.
Courts of equity were administered by chancellors appointed by the king.Equitable remedies include: specific performance, injunctions, rescissions.11Slide12
The Common Law Tradition
Equitable Remedies and Courts of Equity.
Merging of Law and Equity. Federal and state courts have consolidated remedies at law and equity. Generally, the same court can fashion a remedy that includes both damages and equitable or injunctive relief.12Slide13
Ex. 1-2 Equitable Maxims
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Schools of Legal Thought
Natural Law
School. Positivist School. Historical School.
Legal Realism.
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Natural Law School.
Adherents believe a higher or universal law exists that applies to all humanity, and all written laws should imitate these principles.
Laws contrary to natural law are “unjust” and need not be obeyed. 15Schools of Legal ThoughtSlide16
“[
T]here are two types of laws: just and unjust laws. . . . A just law is a man-made code that squares with the moral law . . . . An unjust law is a code that is out of harmony with the moral law. . . . An unjust law is a human law that is not rooted in eternal and natural law.” Martin Luther King, Jr., Letter from the Birmingham Jail, April 16, 1963. 16
Natural Law In HistorySlide17
Schools of Legal Thought
Legal Positivism.
Law is the supreme will of the State that applies only to the citizens of that nation at that time. Law, and therefore rights and ethics, are not universal. Whether a law is “good” or “bad” is irrelevant.17Slide18
Schools of Legal Thought
Historical School.
Emphasizes the evolutionary process of law.Concentrates on the origins of the legal system.Law derives its legitimacy and authority from standards that have withstood the test of time.
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Schools of Legal Thought
Legal Realism.
Law is not simply a result of the written law, but a product of the views of judicial decision makers, as well as social, economic, and contextual influences. Strongly influenced the “sociological school” of jurisprudence.19Slide20
Classifications of Law
Every
type of law will be either:Substantive or Procedural. Civil or Criminal. Public or Private.
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Classifications of Law
Substantial or Procedural.
Substantive Law: defines or creates the rights and obligations of persons and governments.Procedural Law: provides the steps one must follow in order to avail oneself of one’s legal rights or enforce another’s legal obligations.21Slide22
Classifications of Law
Civil Law vs. Criminal Law.
Civil Law: defines the rights between individuals or individuals and governments.Criminal Law: defines an individual’s obligations to society as a whole.22Slide23
Classifications of Law
National and International Law.
National Law: laws of a particular country that vary from country to country.International Law: applies to more than one country at a time. Who enforces violations of international law?
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Appendix to Chapter 1: Finding
and Analyzing the Law
Finding Statutory Law and Administrative Law.United States Code (USC). State Codes.
Administrative Rules.
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Appendix to Chapter 1: Finding
and Analyzing the Law
Finding Case Law.State Court Decisions. Regional Reporters.Case Citations.
Federal Court Decisions.U.S. Supreme Court decisions are published by the federal government in United States Reports (U.S.).
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Appendix to Chapter 1: Finding
and Analyzing the Law
Reading and Understanding Case Law.Case Titles and Terminology.Parties to Lawsuits.Judges and Justices.Decisions and Opinions.
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Legal cases are identified by a “legal citation” (or a “cite”) as the sample below:
Fehr v. Algard
, ___ N.J. Super ___, A.3d (2011).
Title: First Party is Plaintiff, second party is Defendant. The parties are either italicized
or
underlined
.
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Appendix to Chapter 1: Finding
and Analyzing the LawSlide28
Legal cases are identified by a “legal citation” (or a “cite”) as the sample below:
Fehr v. Algard,
___ N.J. Super ___, A.3d (2011).The case is
from the Superior Court of New Jersey and is not numbered as of the date of this printing.
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Appendix to Chapter 1: Finding
and Analyzing the LawSlide29
Legal cases are identified by a “legal citation” (or a “cite”) as the sample below:
Fehr v. Algard,
___ N.J. Super ___, A.3d (2011).
The case was decided in 2011.
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Appendix to Chapter 1: Finding
and Analyzing the Law