BUL 3130- Midterm Exam Guide - Comprehensive Notes for the exam ( 56 pages long!)
Document Summary
Law provides stability and predictability so that people know how to order their affairs. Business law: enforceable rules of conduct that govern commercial relationships. A business must have stability and predictability which the law provides. Laws and regulations affect virtually all business activities. Contracts, hiring/firing, workplace safety, intellectual property, leasing equipment, etc. Functional areas of business affected by business law. Private law: regulates disputes between private individuals. Public law: controls disputes between private individuals or groups and their government. Civil law: rights between individuals, businesses and/or the government; rights established by agreement or law; provides injured party relief/remedy if rights violated; usually monetary compensation sought by injured. Criminal law: i(cid:374)di(cid:448)idual"s o(cid:271)ligatio(cid:374)s to so(cid:272)iet(cid:455) as a (cid:449)hole; fo(cid:272)uses pri(cid:373)aril(cid:455) o(cid:374) punishing offender rather than providing remedy/relief. Case filed by state or federal government, not victims. Beyond a reasonable doubt is burden of proof. Defines rights and obligations of all legal (persons, business and government)
