New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Legal Environment of Business Transactions

by: Edmond Bergstrom

Legal Environment of Business Transactions FRL 201

Marketplace > California State Polytechnic University > Finance, Real Estate & Law > FRL 201 > Legal Environment of Business Transactions
Edmond Bergstrom
CSU Pomona
GPA 3.64

William Foley

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

William Foley
Class Notes
25 ?




Popular in Course

Popular in Finance, Real Estate & Law

This 6 page Class Notes was uploaded by Edmond Bergstrom on Saturday October 3, 2015. The Class Notes belongs to FRL 201 at California State Polytechnic University taught by William Foley in Fall. Since its upload, it has received 10 views. For similar materials see /class/218412/frl-201-california-state-polytechnic-university in Finance, Real Estate & Law at California State Polytechnic University.


Reviews for Legal Environment of Business Transactions


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: 10/03/15
FRL 201 3302011 Chapter 1 Administrative Agency organization created by a statute that looks over an area where people need to be regulated Ex of Administrative Agency DMV oversees an ongoing activity driving Other Examples IRS EDD FAA Statute another word for quotBillquot Common Law Court Decisions Originated in England the King established llThe Courts The Courts 1 Law Courts money as remedysolution Juries allowed 2 Equity Courts other remedies No Juries Cease and desist order injunction and specific performance of contract Yearbooks Judges kept record of previous decisions in hopes of being consistentPracticeDoctrine Doctrine of Stare Decisis Latin meaning llto stay with decisions Binding Authority previous decision that MUST be followed in future cases Case of First Impression no case as a precedent no previous decision made no basis for judge Decision often made by concept of fairness or from a previous case in another state or country Persuasive Authority When a decision is made in another state the state DOES NOT HAVE TO follow but CAN use the previous decision as a precedent to help them make their decision Legal Precedent a decision that will be followed in the futureFirst Example Overturn is the exception The older decision is overruled and a new decision is made Usually decision is changed because society has changed so much since previous decision that the judge might want to stay current A lower court CANNOT overrule a decision made by a higher court Overturn is possible at same Court level ONLY Legal Approach Issue What is the legal dispute Rule What are the rules that apply to this issue Application the Why in the decision that s made Conclusion The Final Decision PPN LAW CATEGORIES right and duties that exist between persons usually when a person s rights are violated deals with all criminal actions wrongs committed against the public as a whole prosecuted by public officials negligence laws crucial importance of behavior all laws that define describe regulate and create What is the procedural to get the substance Method of forcing the rights established by substantive law Finding a case citation 135 CA 2d 722 the location in book Case Title Plaintiff vs Defendant bringing lawsuit defending themselves quotRight to Appealquotpeople have right to appeal case in hopes of changing court s decision On Appeal Appellant vs Appellee person appealing respondent Statutes takepriority over common law Court Decisions Opinion on appeal Unanimous all judges vote for same side Concurring additional opinion that doesn t affect main decision Dissenting voiced opposition that does not affect main decision Majority Rules Decision Jurisprudence how differences in how different schools approach law characteristics can affect judicial decision making SCHOOLS that follow a specific prudential thought views laws are for promoting justice in society Most likely to depart from past r schools of thought more realistic as they take into acct customary practices and circumstances in why transactions take place TYPES OF LAWS law enacted by legislative body statutes passed by congress and state legislature includes local ordinances law rule or order passed by a municipal law expressed in constitution if this law is challenged it will be declared unconstitutional model laws for states to consider adopting conflicting state statutes frequently made trade and commerce among states difficult 1St uniform law was Uniform Negotiable Instrument Law 1896 NCCUSL National Conference of Commissioners on Uniform State Laws group that originally drafts the uniform laws for the states to consider adopting rules orders decisions of administrative agencies rules of law announced in court decisions lljudgemade lawquot doctrines and principles announced in cases covers all areas NOT covered by statuary or administrative law part of common law quotNational lawquot applies only to the citizens of that nation or society system of moral and ethical principles FEDERAL AGENCIES exist within cabinet department of executive branch subject to authority of president power to appoint and remove officers from federal agencies ex FDA w a i w iquot president doesn t have as much power because officers serve FIXED terms and cannot be removed without just cause ex SE C FTC FCC m created parallel to local agencies ex State Pollution control agency Environmental Protection Agency state agency local agency STATUTES applies to ALL states applies only to within state borders Breaches breaks or fails to perform usually a contract Remedies a quotfixquot money land or items of value Statutes of Limitations fixed time periods for specific cases Public Policy govt policy based on societal values Alleges claims Syllogism logical relationship involving a major premise a minor premise and a conclusion Judge vs Justice Judge member of Court of Appeals state s highest court Justice member of trial court TYPES OF OPINIONS Per curiam quotof the court En banc llin the bench


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


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'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Anthony Lee UC Santa Barbara

"I bought an awesome study guide, which helped me get an A in my Math 34B class this quarter!"

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.