Study Guides (248,645)
United States (123,474)
BLAW 3201 (66)
All (46)

Test 1 Business Law Notes (aced the test and got 96%)

16 Pages

Business Law
Course Code
BLAW 3201

This preview shows pages 1,2,3,4. Sign up to view the full 16 pages of the document.
chapter101132009Introduction to Law and Legal ReasoningLaw consists of enforceable rules governing relationships among individuals and between individuals and their societyestablish rights duties and privileges that are consistent with the values and beliefs of their society or its ruling groupjurisprudence the study of law which involves learning about different schools of jurisprudential thought and discovering how the approaches to law characteristic of each school can affect judicial decision makingjudgeinterpret and apply laws courts define what the law isSection 1Schools of Jurisprudential ThoughtThe Natural Law SchoolNatural law denotes a system of moral and ethical principles that are inherent in human nature and that people can discover through the use of their natural intelligence or reasonNatural law dates back to Greek philosopher Aristotle who distinguished between natural law and the laws governing a particular nation He said natural law applies universally to all human kind The Positivist Schoolpositive law national law which applies only to the citizens of that nation or society People who adhere to this school believe there can be no higher law than a nations positive law believe there is no such thing as natural rights instead human rights exist solely because of lawsThe Historical Schoolemphasizes the evolutionary process of law by concentrating on the origin and history of the legal systemit looks to the past to discover what the principles of contemporary law should beLegal RealismLegal realism is based on the idea that law is just one of many institutions in society and that it is shaped by social forces and needsjudges should take social and economic realities into account when deciding caseslegal law can never be applied with total uniformitySection 2 Business Activities and the Legal EnvironmentMany Different Laws May Affect a Single Business TransactionEthics and Business Decision Makingethics must be taken into accountSection 3 Sources of American Lawprimary sources of lawthe US Constitution statutory lawlaws passed by Congress state legislatures or local governing bodiesregulations created by administrative agenciescase law and common law doctrinessecondary sources of lawbooks and articles that summarize the primary sources of lawConstitutional Lawthe law as expressed in these constitutions
More Less
Unlock Document

Only pages 1,2,3,4 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.