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Business Law Week 5 Notes

by: Caspian Roberts

Business Law Week 5 Notes ACCT 2700 - 001

Marketplace > Auburn University > Accounting > ACCT 2700 - 001 > Business Law Week 5 Notes
Caspian Roberts
GPA 3.75
Business Law
Robert Hollis Cochran

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About this Document

These are the notes from the last week of class, concerning Chapter 4
Business Law
Robert Hollis Cochran
Class Notes
business law
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This 0 page Class Notes was uploaded by Caspian Roberts on Thursday February 25, 2016. The Class Notes belongs to ACCT 2700 - 001 at Auburn University taught by Robert Hollis Cochran in Fall 2015. Since its upload, it has received 96 views. For similar materials see Business Law in Accounting at Auburn University.


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Date Created: 02/25/16
From now on I will try and get more of what Dr Cochran says outside of the notes to help out for the next exam quotTo live under the American Constitution is the greatest political privilege that was ever accorded to the human racequot Calvin Coolidge President during the 192039s Called the quotSilent Calquot He didn39t talk to the media The media has always believed they are more important than they actually are quotOpinion is that exercise of the human will which helps us make a decision without informationquot John Erskine American Author and Educator 18791951 The radio says we are in a constitutional crisis Those that don39t like Obama think he should yield his right to nominate a new Supreme Those that do like Obama think him and the Senate should sit down and nd a new Supreme Constitution Historical Background Before the Revolutionary War States wanted a confederation with weak national government and very limited powers During the Revolutionary War the States adopted the Articles of Confederation It soon became apparent this form of government wasn t working The States called a Constitutional Convention to form a ne workable form of government Our Constitution was the result The Constitutional Powers of the Government The Constitution established the Federal Form of Government 0 Shares power between national and state governments o National government has limited enumerated powers delegated from the Senate Regulatory Powers of the States 0 10th Amendment Reserves unto the States all powers not speci cally delegated to the Federal Government Reserves unto the States the Police Powersto regulate health safety order morals Relations Among the States 0 Privileges and Immunities Clause Prevents States from discriminating against noncitizens Basically it prevents states from favoring their own citizens 0 Full Faith and Credit Clause Requires States to enforce the laws and court rulings of other states especially concerning property and criminal proceedings It39s the reason why if you haven39t payed your parking tickets in Auburn and go to renew your license in North Carolina you won39t be able to 0 Separation of Powers 0 Federal government provides checks and balances Legislative Congress Create laws Executive PresidentAgencies Enforce laws Judicial Courts Interpret laws quotThe layman39s Constitutional view is that what he likes is Constitutional and that which he doesn39t like is unconstitutional That about measures up the Constitution acumen of the average personquot Hugo Black quotToo often we enjoy the comfort of opinion without the discomfort of thoughtquot John F Kennedy President from 1961 1963 The Constitutional Powers of Government 0 The Commerce Clause 0 Gives the Federal Government the Exclusive right to regulate Interstate Commerce What is Exclusive Right 0 Means that only the Federal Gov39t can Regulate it can allow states to regulate as well Interstate 1824 vs Intrastate 1942 0 Interstate commerce that crosses state lines o Intrastate Commerce that only happens within a State 0 Wicker Case This Farmer produced his quota of 100 acres wheat for sales and made 12 acres of wheat strictly for family food use 0 Question is does the 12 extra acres count towards his quota even though there is no intention to sell it o The law was valid and he couldn39t grow the wheat on those 12 acres Decided under Economics School of thought If they begin allowing people to exceed the quota then everyone will be exceeding the quota And that would lower the demand thus depressing the market for wheat 0 Expansion of Powers In 1964 Supreme Court prohibited racial discrimination in interstate commerce Heart of Atlanta Motel v US 0 If you39re doing business with the public then you cannot judge that person on the basis of their skin color 0 Heart of Atlanta Motel said that this is unfair There are hotels for blacks already and the Supreme Court has no right to tell them what to do 0 Supreme Court uses the Interstate Commerce Clause to say that this will disenfranchise the Atlanta Economy ex a Black person won39t stay at that motel and this will cause black people to stop coming to Atlanta TODAY the Commerce Clause authorizes the national gov39t to regulate virtually any business enterprise including the internet based But there are Limits US v Lopez 1995 0 Supreme Court found that the law about keeping guns away from school zones is absolutely necessary But there is a problem with the bill This law is a violation of the 10th Amendment Police powers because the Federal Gov39t is exceeding its bounds o If the Federal Gov39t actually explained how the law connected to Interstate Commerce it would have caused it to pass 0 Exclusive Shared and No Regulation 0 States may regulate Interstate Commerce only if The Federal Gov39t has not decided to Exclusively Regulate a particular area of commerce The State regulation does not quotunduly burdenquot interstate commerce 0 The Supremacy Clause and Federal Preemption o The Constitution provides that the Constitution laws and treaties of the United States are the quotSupreme Law of the Landquot E Business and the Bill of Rights First Ten Amendments to the United States Constitution are called the Bill of Rights AII apply to natural persons and most apply to business entities as well o 1St Amendment Freedom of Speech business exception Freedom of Religion While you can politically say anything without attempting to incite a revolution 0 2nCI Amendment Rights to Keep and Bear Arms The Federal Gov39t can restrict this right o 4th Amendment Freedom from Unreasonable Searches business excep on and Due Process clause 0 5th Amendment Right against SelfIncrimination business exception Limits on Federal and State Actions Ex Augusta National 0 Private Organizations can choose who they admit and who they don39t without required response No rights are quotabsolutequot o Strict Scrutiny We will give the strictest scrutiny on this case and the gov39t has an overwhelming burden to show that there is no other way to do this 0 Intermediate Scrutiny Gov t still has a compelling burden but it will be easier to meet than strict o quotRational Basisquot Test Gov39t just has to prove they are doing it for a rational reason TF The Privileges and Immunities Clause means that states must comply and enforce the ruling of other states concerning property and criminal law FALSE Virtuay the entire reason we have the Constitution which we have today is because Of Business


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