Business Law Chapter 1
From "Law for Business" by Ashcroft, 15th Edition.
Terms
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- Tort
- A private or civil wrong or injury for which there may be an action for damages
- Precedent
- A decided case or court decision that determines the decision in a subsequent case because the cases are so similar
- Bill of Rights
- The first 10 amendments to U.S. constitution
- Civil Law
- Law dealing with enforcement or protection of private or personal rights
- Business Law
- A class of laws that are concerned primarily with rules of conduct prescribed by government for the performance of business transactions
- Damages
- A sum of money a wrongdoer must pay to an injured party
- Criminal Law
- Law dealing with offences against society
- Statute
- Laws enacted by legislative bodies
- Common Law
- Custom that has come to be recognized by the courts as binding on the community and therefore law
- Negligence
- The failure to exercise reasonable care toward someone
- Equity
- A justice system based on fairness; provides relief other than merely money damages
- Law
- A rule that prescribes conduct and that is enacted and enforced by a government
- Ordinance
- A specific type of statutory law, enacted by cities and other municipalities
- Administrative Agency
- Governmental board or commission with authority to regulate matters or implement laws
- Wobbler
- An offense that can be either a felony or a misdemeanor
- Injunction
- A permanent order forbidding a certain action, power of equity
- Restraining Order
- A temporary order forbidding a certain action, power of equity
- Stare Decisis
- A principle that a court decisioin controls the decision of a similar future case
- Ethics
- Principles that determine the morality of conduct, its motives, and its duties
- Constitution
- The document that defines the relationships of the parts of the government to each other and the relationship of the government to its citizens or subjects