Essentials of Business Law and the Legal Environment by Richard A. Mann, Barry S. Roberts

By Richard A. Mann, Barry S. Roberts

This article deals entire insurance of industrial legislations and its atmosphere in a non-technical, simple, and student-friendly kind. situations are summarized by means of the authors and built-in all through chapters. criminal concerns and court docket judgements are conscientiously defined with not less than felony jargon. The textual content covers all required enterprise legislations issues for the CPA examination.

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A defendant who did not comply with this order could be held in contempt of court and punished by fine or imprisonment. This power of compulsion available in a court of equity opened the door to many needed remedies not available in a court of common law. Courts of equity in some cases recognized rights that were enforceable at common law, but they provided more effective remedies. For example, in a court of equity, for breach of a land contract the buyer could obtain a decree of specific performance commanding the defendant seller to perform his part of the contract by transferring title to the land.

Jones” or “Commonwealth v. ” The study of reported cases requires an understanding and application of legal analysis. Normally, the reported opinion in a case sets forth (a) the essential facts, the nature of the action, the parties, what happened to bring about the controversy, what happened in the lower court, and what pleadings are material to the issues; (b) the issues of law or fact; (c) the legal principles involved; (d) the application of these principles; and (e) the decision. Appellant party who appeals C HAPTER S UMMARY Nature of Law DEFINITION OF LAW “a rule of civil conduct prescribed by the supreme power in a state, commanding what is right, and prohibiting what is wrong” (Blackstone) FUNCTIONS OF LAW to maintain stability in the social, political, and economic system through dispute resolution, protection of property, and the preservation of the state, while simultaneously permitting ordered change LAWS AND MORALS are different but overlapping: law provides sanctions while morals do not LAW AND JUSTICE are separate and distinct concepts; justice is the fair, equitable, and impartial treatment of competing interests with due regard for the common good Classification of Law SUBSTANTIVE AND PROCEDURAL • Substantive Law law creating rights and duties • Procedural Law rules for enforcing substantive law PUBLIC AND PRIVATE • Public Law law dealing with the relationship between government and individuals • Private Law law governing the relationships among individuals and legal entities CIVIL AND CRIMINAL • Civil Law law dealing with rights and duties, the violation of which constitutes a wrong against an individual or other legal entity • Criminal Law law establishing duties that, if violated, constitute a wrong against the entire community LibraryPirate 14 PART I Sources of Law I N T R O D U C T I O N T O L AW A N D E T H I C S CONSTITUTIONAL LAW fundamental law of a government establishing its powers and limitations JUDICIAL LAW • Common Law body of law developed by the courts that serves as precedent for determination of later controversies • Equity body of law based upon principles distinct from common law and providing remedies not available at law LEGISLATIVE LAW statutes adopted by legislative bodies • Treaties agreements between or among independent nations • Executive Orders laws issued by the president or by the governor of a state ADMINISTRATIVE LAW is created by administrative agencies in the form of rules, regulations, orders, and decisions to carry out the regulatory powers and duties of those agencies INTERNET EXERCISE For the federal government and for your state, find examples of the following sources of law: (a) constitutional law, (b) judicial law, (c) legislative law, and (d) administrative law.

This emphasis on legislative or statutory law has occurred because common law, which develops evolutionarily and haphazardly, is not well suited for making drastic or comprehensive changes. Moreover, while courts tend to be hesitant about overruling prior decisions, legislatures commonly repeal prior enactments. In addition, legislatures may choose the issues they wish to address, whereas courts may deal only with those issues presented by actual cases. As a result, legislatures are better equipped to make the dramatic, sweeping, and relatively rapid changes in the law that technological, social, and economic innovations compel.

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