Understanding Law: Definitions and Concepts, Quizzes of Business and Labour Law

Download Understanding Law: Definitions and Concepts and more Quizzes Business and Labour Law in PDF only on Docsity! TERM 1 law DEFINITION 1 a term which does not have a universally accepted definition, but one definition is that law is a system of rules and guidelines which are enforced through social institutions to govern behavior. TERM 2 adequately enforced system DEFINITION 2 every prosperous economy has a whatprovides maximum incentive to entrepreneurs, inventors and investors (Private Property in the US)secures the elements of trust and certainty that are vital to economic transactions among strangers TERM 3 Putting oil entrepreneur in jail DEFINITION 3 Russian president can take away what he deems a threat to his seat in the house TERM 4 You can Sue them DEFINITION 4 Why do you trust a random person all the way across the nation? TERM 5 The Rule of Law DEFINITION 5 refers to the influence and authority of law within society, especially as a constraint upon behavior, including behavior of government officials. TERM 6 Property DEFINITION 6 that which is had by or belongs to/with something, whether as an attribute or a component. TERM 7 An adequately enforced system of equally applied law DEFINITION 7 this is a prerequisite for a strong, prosperous economy TERM 8 Prosperous Economies under good law programs DEFINITION 8 Provides maximum incentive to entrepreneurs, investors and inventors Secures the elements of trust and certainty that are vital to economic transactions among strangers TERM 9 gives people incentive to adhere to law DEFINITION 9 how does law, rule of law, and property connect with each other TERM 10 contract law DEFINITION 10 an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between them. TERM 21 Property DEFINITION 21 May be thought of as a collection of positive rights- to use possess and transfer- or a single negative right to excludeThe right for an individual to claim something and the law is there to help him claim it TERM 22 Property DEFINITION 22 historically known as the foundation of capitalist economics TERM 23 Common Law DEFINITION 23 Legal system that emphasizes the role of judges in determining the meaning of laws and how they apply used today to determine the meaning of the constitution TERM 24 Civil Law DEFINITION 24 relies more on legislation than judicial decisions to determine what the law is do not follow precedents judges play a much more important role in determining law TERM 25 Public Law DEFINITION 25 includes those matters that involve the regulation of society as opposed to individuals government official represents society TERM 26 Constitutional Law DEFINITION 26 the body of law which defines the relationship of different entities within a State, namely, the executive, the legislature, and the judiciary. TERM 27 Administrative Law DEFINITION 27 the body of law that governs the activities of administrative agencies of government. TERM 28 criminal law DEFINITION 28 which specifies various offenses against the proper order of the state TERM 29 Private law DEFINITION 29 that part of a civil law legal system which is part of the jus commune that involves relationships between individuals, such as the law of contracts or torts, and the law of obligations (as it is called in civil legal systems). TERM 30 Property Law DEFINITION 30 the area of law that governs the various forms of ownership and tenancy in real property and in personal property, within the common law legal system. private law TERM 31 Contract Law DEFINITION 31 which covers the rules of how owners transfer resources by exchanging them TERM 32 Tort Law DEFINITION 32 a civil wrong which unfairly causes someone else to suffer loss or harm resulting in legal liability for the person who commits the tortious act, called a tortfeasor. TERM 33 Substantive Law DEFINITION 33 the statutory or written law that defines rights and duties, such as crimes and punishments, civil rights and responsibilities in civil law. TERM 34 Procedural Law DEFINITION 34 deals with the method and means by which substantive law is made and administeredEx. the time allowed for one party to sue another and the rules of law governing the process of the lawsuit are examples of procedural laws TERM 35 Federal Law DEFINITION 35 the body of law created by the federal government of a country. A federal government is formed when a group of political units, such as states or provinces join together in a federation, surrendering their individual sovereignty and many powers to the central government while retaining or reserving other limited powers. TERM 46 Dicta DEFINITION 46 a statement of opinion or belief considered authoritative though not binding, because of the authority of the person making it. TERM 47 Rejection of Precedent DEFINITION 47 does not happen often may be due to times changing usually is based on the theory of originalism TERM 48 Conflicts of Law DEFINITION 48 What state's law applies in certain situation A guy from georgia sues a guy from ohio which one is represented under their law system TERM 49 case law DEFINITION 49 courts are the institution in our legal system that interpret the meaning of the law TERM 50 common Law DEFINITION 50 Legal system emphasizing the role of judges in interpreting and applying the lawuses Stare decisis TERM 51 Substantive Law DEFINITION 51 What are the elements of a civil cause of action/crime TERM 52 sanction DEFINITION 52 may be used against a person who has failed to comply with law