[BUS 131] - Midterm Exam Guide - Everything you need to know! (13 pages long)
6 Feb 2017
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Document Summary
Law: a body of enforceable rules governing relationships among individuals and between individuals and their society. Section 1. business activities and the legal environment. Businesses must consider legality of decisions and ethicality. Constitutional law: us constitution and state constitutions, statutory law, regulations, case law and common law doctrines. Constitutional law: law that is based on the us constitution and the constitutions of the various states. Statutory law: laws enacted by legislative bodies when passed, its immediately in the federal code of laws. Ordinance: a law passed by a local governing unit. Uniform laws: (model statuses) a model law created by the national. Conference of commissioners on the uniform state laws and /or the. American law institute for the states to consider adopting. If the state adopts the law, it becomes statutory law in that state. Each state has the option of adopting or rejecting all or part of a uniform law.
