LGS 200 Chapter 1-4 Study Guide
LGS 200 Chapter 1-4 Study Guide LGS 200
Popular in Legal Environment of Business
Popular in Law and Legal Studies
This 2 page Study Guide was uploaded by Julie Knight on Monday February 8, 2016. The Study Guide belongs to LGS 200 at University of Alabama - Tuscaloosa taught by Charles Malone in Fall 2015. Since its upload, it has received 32 views. For similar materials see Legal Environment of Business in Law and Legal Studies at University of Alabama - Tuscaloosa.
Reviews for LGS 200 Chapter 1-4 Study Guide
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 02/08/16
LGS 200: Chapters 1-4 Review Chapter 1: Business and its Legal Environment Functions of a law: 1) stability 2) predictability 3) continuity Law- consists of enforceable rules governing relationships among individuals and between individuals and their society Sources of a law: 1) U.S. Constitution 2) Statutory law (state legislators) 3) regulations created by administrative agencies 4) case law and common doctrine Classifications of law: 1) procedural- get through the system 2) substantive- laws that define, describe, regulate and create legal rights and obligations Civil law Criminal law (does not have to have a victim) Chapter 2: The Court System Role of Judiciary- interpret and apply law to facts of a case Jurisdiction- to speak the law In personam vs. in rem Limited jurisdiction- no record created, ex: probate, domestic, bankruptcy General jurisdiction- broad range Appellate- 14 days to appeal, broad authority: 1) affirm 2) reverse 3) remand with instructions 3) uphold in part 4) reverse in part 5) rewrite case Legal fees: 1) fixed fee- ex: drafting will 2) hourly fees- ex: sued (hourly rate + expenses) 3) contingency fees- lose, don’t have to pay Complaint Summons: 1) sheriff serves 2) process server 3) certified mail 4) publication Counterclaim- sue the person who is suing you Discovery- information (informal): 1) deposition- gain info, witness, good/bad 2) interrogatories- questions under oath 3) request for admissions 4) request for documents, objects, things 7 Amendment- right to jury ($20) Evidence: (opening statement= not evidence) 1) witness testimony under oath 2) documents accepted by court 3) stipulations 4) presumptions of law not refuted by evidence “innocent til proven guilty” Chapter 3: Alternative and Online Dispute Resolution Negotiation- you are involved, no lawyer; informal, quicker, cheaper Mediation- third party mediator, cost, more formal, settlement, non-binding Arbitration- interstate commerce, writing, costly-pay upfront, binding (FINAL) Private judging- cannot appeal Chapter 4: Ethics and Business Decision Making Ethics- study of what constitutes right or wrong behavior Business ethics Code of Ethics: 1) create/develop 2) written 3) publish 4) test on it 5) retest/rewrite/update Exxon Valdez Case: 1989, Hazelwood-captain of oil tanker, Alaska, alcoholic, Exxon knew, spills 11 million, Exxon cleanup- 2.4 billion (final- 7 billion) Appellate Court: 1) physical vs. economic 2) torchers conduct, reckless disregard 3) financial venerability 4) repeated vs. isolated 5) intention malice vs. accident
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'