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1.01 BL Vocab

Objective 1.01 for Business Law

QuestionAnswer
Administrative law Rules and procedures established by regulatory agencies
Allegiance Loyalty to one’s country
Civil disobedience An open peaceful violation of a law to protest its alleged injustice
Commercial law Concerned with business transactions and the operation of business establishments
Common law Unwritten law that evolves from the customs and traditions of society
Constitution A document which spells out the principles by which a government runs and the fundamental laws that govern a society
Expatriation The act of abandoning one’s country and giving up citizenship
International law Concerned with the conduct of nations in their relations with each other
Judicial review The right established by Marbury vs. Madison for the court system to examine the decision of a lower court; the executive branch; or the legislative branch
Law Rules of conduct established by the government of a society to maintain stability and justice in that society
Law of precedent When a judge is required to follow an earlier court decision when deciding a case with similar circumstances; also called stare decisis
Municipal Relating to a city or town
Ordinances Laws enacted by local municipal governmental bodies
Stare decisis “Let the decision stand; another name for law of precedent or case law
Statutes Laws enacted by legislative bodies
Supremacy The highest authority; US Constitution has supremacy over state law; state laws have supremacy over local laws
Treason Betrayal or disloyalty to one’s country
Unconstitutional A law that is not agreeable with the constitution and is no longer valid
Created by: jpennington
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