BSLW1021 Chapter Notes - Chapter 1: Uniform Commercial Code, Precedent, Statutory Law
30 Aug 2016
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Document Summary
Law: the order or pattern of rules that society uses to govern the conduct of individuals and their relationships - a collection or bundle of rights. Right: is a legal capacity to require another person to perform or refrain from performing an act. Duty: is an obligation of law imposed on a person to perform or refrain from performing a certain act. Constitution: is a body of principles that establishes the structure of a government and the relationship of that government to the people who are governed. Both congress and the state legislatures enact statutory law ======ie: acts, pet laws, zoning. Administrative regulations: are rules promulgated by state and federal administrative agencies, such as the securities and exchange. Private law consists of the rules and regulations parties agree to as part of their contractual relationships -----landlord parking agreement. Case law: principles that are expressed for the first time in court decisions.
