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LGS 200 Study Guide for Test 1

by: Julie Knight

LGS 200 Study Guide for Test 1 LGS 200

Marketplace > University of Alabama - Tuscaloosa > Business > LGS 200 > LGS 200 Study Guide for Test 1
Julie Knight
GPA 3.8

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About this Document

This study guide covers chapters 1-4
Legal Studies
Charles Malone
Study Guide
LGS, LGS 200, Legal Studies
50 ?




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This 2 page Study Guide was uploaded by Julie Knight on Friday March 18, 2016. The Study Guide belongs to LGS 200 at University of Alabama - Tuscaloosa taught by Charles Malone in Fall 2014. Since its upload, it has received 30 views. For similar materials see Legal Studies in Business at University of Alabama - Tuscaloosa.

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Date Created: 03/18/16
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


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