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Business Law Chapter 4 2


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Governing power is divided between the federal government and the states
Supremacy Clause
Federal law takes precedence over conflicting state laws
Federal Preemption
First right of the federal government to regulate matters within its powers to the possible exclusion of state regulation
Judicial Review
Power of the courts to determine the constitutionality of any legislative or executive act
Separation of Powers
Allocation of powers among the legislative, executive, and judicial branches of government
State Action
Actions by governments as opposed to actions taken by private individuals
Commerce Power
Exclusive power granted by the U.S. Constitution to the federal government to regulate commerce with foreign countries and among states
State Regulation of Commerce
The commerce clause of the U.S. Constitution restricts the states' power to regulate activities if the result obstructs interstate commerce
Eminent Domain
The power of government to take private property for public use upon payment of fair compensation
Rational Relationship Test
A standard of review used to determine whether economic regulation satisfies the equal protection guarantee
Strict Scrutiny Test
Exacting standard of review applicable to regulation of affecting a fundamental right or involving a suspect classification
Intermediate Test
Standard of review applicable to regulation based on gender and legitimacy
Contract Clause
Prohibition against the states' retroactively modifying public and private contracts
Free Speech
First Amendment protects most speech by using a strict scrutiny standard
Corporate Political Speech
First Amendment protects a corporation's right to speak out on political issues
Commercial Speech
Expression related to the economic interests of the speaker and his audience
Injury of a person's reputation by publication of false statements
Due Process
Fifth and Fourteenth Amendments prohibit the federal and state governments from depriving any person of life, liberty, or property without due process of the law
Substantive Due Process
Requirement that governmental action be compatible with individual liberties
Procedural Due Process
Requirement that governmental action depriving a person of life, liberty or property be done through a fair procedure
Ability of individuals to engage in freedom of action and choice regarding their personal lives
Includes real property, personal property, and certain benefits conferred by government
Equal Protection
Requirement that similarly situated persons be treated similarly by the government

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