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BUS 131 - 010

by: Whitney Davis

BUS 131 - 010 BUS 131 - 010

Whitney Davis
Kutztown University of Pennsylvania
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Business Law I
Dr. Slamon

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Hey guys! Here are my notes from Chapter 1. If you have any questions about it let me know! I'll be uploading notes for each chapter.
Business Law I
Dr. Slamon
Class Notes




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This 0 page Class Notes was uploaded by Whitney Davis on Wednesday January 27, 2016. The Class Notes belongs to BUS 131 - 010 at Kutztown University of Pennsylvania taught by Dr. Slamon in Spring 2016. Since its upload, it has received 48 views. For similar materials see Business Law I in Business at Kutztown University of Pennsylvania.

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Date Created: 01/27/16
Chapter 1 Law and Legal Reasoning Business Activities and the Legal Government 0 Laws and regulations affect virtually all business activities 0 Location 0 Bene ts 0 Copyright lawPatentsTrade marks 0 Knowledge of quotBlack Letterquot is not enough 0 Black letter wellestablished public legal rules that are no longer subject to reasonable dispute 0 Many laws may affect a single business transaction Sources of American Law 0 Body of law which de nes the relationship of entities with state executive legislative and judiciary Constitutional law 0 Based on the US constitution and the constitutions of various states 0 West Constitution 0 State Constitution 0 Statutory Law 0 Written laws by legislative body 0 Ordinance Piece of legislation enacted by a municipal authority city or county land use 0 Uniform Laws NCCUSL Model law Each state can choose to adopt or reject all or part of uniform law 0 Uniform Commercial Code Rules governing commercial transactions 0 Administrative Law 0 Governs activities of administrative agencies of the government 0 Federal Agencies 0 State and Local agencies 0 Case LawCommon Law Doctrines o The law established by the outcomes of former cases 0 Rules announced in court decisions judicial Contrasted with quotStatutory Lawquot The Common Law Tradition American Law D English Common Law D Traditions Social customs Rules and Cases D1066 AD Early English courts 0 At Common Law there were two separate court systems 0 Courts of Law Monetary relief 0 Courts of Equity Nonmonetary relief Based on notions of quotjustice and fair dealingquot Courts of Law AKA quotKing39s Courtsquot 0 Judges appointed by King Remedies limited to those provided at law 0 Land chattel money Judges resolve disputes by application of rules of law to facts of the case before the court Courts of Equity 0 Equity is the branch of law founded on what if fair and just Administered by chancellors appointed by king Equitable remedies include 0 Speci c performance 0 Injunctions o Recessions Legal and Equitable Remedies Today 0 Federal and state courts consolidated remedies at law and equity 0 Same court order includes both damages and equitableinjunctive relief Stare Decisis Stand on decided case 0 judgemade law 0 Case precedents and reporters 0 Each decisioninterpretation becomes legal precedent 0 Cases are published in national and regional quotReportersquot Stare Decisis and the Common Law tradition o Courts obliged to follow precedents within their jurisdictions o Courts should NOT overturn their own precedents without compelling reasons Controlling precedents o Referred to as binding quotauthoritiesquot 0 Include constitution Supreme court cases The Common Law Today Governs transactions NOT covered by AdministrativeStatutory Law 0 Courts interpret statutes 0 Restatements of law summarize common law rules 4 Schools of Legal Thought 0 Natural Law School 0 Assumes law rights and ethics are based on universal moral principles 0 Oldest view ofjurisprudence Aristotle jurisprudence the study of law 0 Natural Law Tradition People have quotnatural rightsquot Positivist School 0 Law is supreme will of state applies only to citizens 0 Law rights and ethics are NOT universal No natural rights 0 Written law of given society at a particular time 0 Historical School 0 Emphasizes evolutionary process of law 0 Concentrates on origins of legal system Follows decisions made in past cases 0 Legal Realism 0 Product of views as judicial decision makers Also social economic and contextual in uences o Shaped by social forces and needs 0 Realists believe that laws CAN39T be applied with total uniformity o In uenced growth of sociological school Sociological school views laws as tools for promoting justice in society Classi cations of Law 0 Every law will either be 0 Civil or Criminal o Substantive or Procedural 0 Public of Private 0 Cyber Civil or Criminal 0 Civil law spells out rights and duties that exist between persons and persons and their governments 0 Criminal law is concerned with wrong committed against public as a whole Criminal acts are de ned and prohibited by local state or federal government statutes Substantive or Procedural o Substantive is all laws that de ne describe regulate and create legal rightsobligations 0 Procedural is all laws that outline methods of enforcing rights established by substantive law 0 Public or Private 0 Public addresses relationship between persons and their government 0 Private deals with relationships between private entities Cyber o Refers to emerging body of law that governs transactions conducted via Internet How to Find Primary Sources of Law Citation references 0 Identi es publication in which legal authority can be found Finding StatutoryAdministrative Law 0 Laws referred to in their codi ed form federalstate codes Finding Case Law 0 Trial Courts Evidence is presented and testimony is given Bottom tier level 0 Case citation 0 State court decision Written decisions of the appellate are distributed 0 Federal court decision To appeal something 0 Apply to a higher court for reversal of the decision of a lower court Decisions and Opinions 0 Explained in written opinions Court39s reasons for its decision Rules of the law that apply Judgement o Unanimous opinion written for entire court when all judges justices agree 0 Majority opinion written when no unanimous agreement 0 Concurring opinion When a judge concurs agrees with majority opinion 0 Dissenting opinion When 2 judges disagree with majority opinion 0 Plurality opinion NO position is fully supported by majority ofjudges 0 quotPer Curiamquot opinion quotof the courtquot Does not indicate which judge wrote opinion


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