BUS214 Exam 1

Latin: “to stand by the decision.” Adherence to the precedent.

That which must be obeyed and followed by citizens, subject to sanctions or legal consequences; a body of rules of action or conduct prescribed by controlling authority and having binding legal force

1. Keep the peace- Laws that make certain activities crimes
2. Shaping moral standards- Laws that discourage drug and alcohol abuse
3. Promoting social justice- Laws that prohibit discrimination in employment
4. Maintaining the status quo- Laws that prevent the forceful overthrow of the government
5. Facilitating planning- Well designed commercial laws that allow businesses to plan their activities, allocate their productive resources, and assess the risks they take
6. Facilitating orderly change- Laws enacted only after considerable study, debate, and public input
7. Providing a basis for compromise- Allowing for the settlement of cases prior to trial. Approximately 90 percent of all lawsuits are settled in this manner.
8. Maximizing individual freedom- The rights of freedom of speech, religion, and association granted by the First Amendment to the U.S. Constitution.

The philosophy or science of law

A rule of law established in a court decision. Lower courts must follow the precedent established by higher courts

Written law enacted by the legislative branch of the federal and state governments that establishes certain courses of conduct that must be adhered to by covered parties.

The U.S. for of government in which the federal government and the 50 state governments share powers.

Each branch of the federal government has separate powers. Those powers are:
• Legislative branch- power to make the law
• Executive branch- power to enforce the law
• Judicial branch- power to interpret the law

A clause of the U.S. Constitution that establishes that the U.S. Constitution and federal treaties, laws, and regulations are the supreme law of the land.

A doctrine that provides that federal law takes precedence over state or local law.