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Business Law 1
Chapter 1
| Term | Definition |
|---|---|
| Law | A body of rules of conduct with legal force and effort, set forth by the government of a society. |
| Lawsuit | A judicial proceeding for the resolution of a dispute between parties in which rights are enforced or protected, wrongs are prevented or redressed, or public offenses are prosecuted. |
| Breach | The failure to perform a legal obligation. |
| Common Law | That body of law developed from custom or judicial decisions in English and U.S. courts. |
| Case | A judicial proceeding for the determination of a dispute between parties in which rights are enforced or protected, wrongs are prevented or redressed, or public offenses are prosecuted. |
| Precedent | A court decision that furnishes an example or authority for deciding subsequent cases involving identical or similar facts. |
| Stare Decisis | A doctrine of the courts under which judges are obligated to follow the precedents established within their jurisdictions. |
| Action | A proceeding by one person against another in a court to obtain the enforcement or protection of a right, the redress or prevention of a wrong, or the punishment of a public offense. |
| Remedy | The relief given to innocent parties, by law or by contract, to enforce a right or to prevent or compensate for a wrong. |
| Damages | Money sought as a remedy for a harm suffered. |
| Cause of Action | A situation or state of facts that gives a person a right to initiate a judicial proceeding. |
| Case Law | Rules of law announced in court decisions. |
| Statutory Law | Laws enacted by a legislative body. |
| Administrative Law | A body of law in the form of rules, regulations, orders, and decisions created by administrative agencies in order to carry out their duties and responsibilities. |
| Civil Law | The branch of law dealing with the definition and enforcement of all private or public rights, as opposed to criminal matters. |
| Criminal Law | Law that governs and defines those actions that are crimes and that subject the convicted offender to punishment imposed by the government. |
| Civil Law System | A system of law derived from that of the Roman Empire and based on a code rather than case law. |
| International Law | The law that governs relations among nations. |
Created by:
kndandress
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