BLAW 2200- Midterm Exam Guide - Comprehensive Notes for the exam ( 25 pages long!)
Document Summary
Blaw 2200: chapter 1: law: rules of an organized society, business law: enforceable rules of conduct that govern commercial relationships. Functional areas of business affected by business law: corporate management, production and transportation, marketing, research and development, accounting and finance, human resource management. Purpose of law: providing order of dependency or reliance, serving as an alternative to altercation, facilitating a sense that change is possible, encouraging social justice, guaranteeing personal freedoms, serving as a moral guide. Major federal administrative agencies: independent, freer from executive control, executive, under executive branch. Blaw 2200: chapter 3: trial court (lowest, appeals/appellate court (middle, supreme court (highest) court of last resort. Exclusive federal jurisdiction: admiralty cases, bankruptcy cases, federal criminal prosecutions, cases in which one state sues another state, claims against the united states, other claims involving federal statutes that specify exclusive federal jurisdiction. State jurisdiction: all cases not falling under exclusive federal jurisdiction.
