BSL 212 Study Guide - Final Guide: Scienter, Liquidated Damages, Lawn Mower
11 Dec 2016
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Nature of law to permit, prohibit, and resolve. Public - relationship between government and individuals i. e. criminal law. Private - relationship among individuals and legal entities i. e. business law. Civil - deals with rights and duties; violation constitutes a wrong. Criminal - established duties that constitute a wrong when violated. Constitutional - law of government that establishes powers and limitations. Judicial common law - precedent for later controversies equity - based on common law principles, provides remedies not available. Legislative - statutes adopted by legislative body treaties - agreements with independent nations executive orders - laws issued by president or governor. Administrative - created by administrative agencies i. e. rules, regulations, orders, and decisions to carry out powers and duties. Egoism - self-interest; survival of the fittest i. e. using subprime loans to create bonds (the big short) Relativism - depends on situation and personal beliefs i. e. slavery before the civil war (okay in the south, morally wrong in the.
