MGT 201 Lecture Notes - Lecture 1: Precedent, Legal Realism, Mexican Federal Highway 1
5 Apr 2016
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Legal realism: who is in posiion to enforce i. ii. The spirit of the law > writen law. Judge can decide how to interpret the ii. Us system is heavy on this: natural law, humans have rights regardless of law, 3 factors for a free market system. Law a: rule of law i. ii. Law is generally and equally applicable to everyone. System of published laws under which government and people are bound: property b. Importance of rule of law to business i. Atempt to minimize liability: classiicaion of laws, common & civil. Common i: gives power to judges a. b. Judge can declare laws invalid issues decisions on laws i. ^ decisions must be followed by others in district: civil, emphasis on legislature. Changes to law is made on a legislaive level: public & private i. Public: deines rights and responsibilites between government and individuals, consituional, administraive, criminal ii.
