Understanding the Basics of Law: Definitions, Functions, Categories, and Types, Quizzes of Business and Labour Law

Download Understanding the Basics of Law: Definitions, Functions, Categories, and Types and more Quizzes Business and Labour Law in PDF only on Docsity! TERM 1 Definition of Law DEFINITION 1 a rule of civil conduct prescribed by the supreme power in state commanding what is right and prohibiting what is wrong. TERM 2 Functions of Law DEFINITION 2 To maintain stability in the social, political, and economical system through dispute resolution, protection of property, and preservation of the state, while simultaneously permitting ordered change. TERM 3 Crucial Functions of Law DEFINITION 3 recognition of private ownership of property protect the owner's use of property and to facilitate voluntary agreements (contracts) regarding exchanges of property and services. law of property, contracts, sales, commercial paper, etc. law of preservation of the state TERM 4 Sanctions DEFINITION 4 means by which the law enforces the decisions of the courts. TERM 5 Law and Morals DEFINITION 5 they are different but slightly overlaplaws provide sanctions and morals do not TERM 6 Law and Justice DEFINITION 6 separate and distinct concepts-justice is fair, equitable, and impartial treatment of competing interests with due regard for the common good TERM 7 Most useful Categories of BLAW DEFINITION 7 Substantive and procedural Public and Private Civil and Criminal TERM 8 right DEFINITION 8 capacity of a person, with the aid of the law, to require another person or persons to perform, or refrain from performing, a certain act. TERM 9 duty DEFINITION 9 is the obligation the law imposes upon a person to perform, or to refrain from performing, a certain act. TERM 10 Substantive Law DEFINITION 10 creates, defines, and regulates legal rights and duties.