BUL 4310 Study Guide - Fall 2018, Comprehensive Midterm Notes - Common Law, Uniform Commercial Code, Estoppel
12 Oct 2018
School
Department
Course
Professor
BUL 4310
MIDTERM EXAM
STUDY GUIDE
Fall 2018
Business Law – 4310
August 22, 2018
• Law of business follows largely predicable cycles and seasons (Module 10 ***)
o Can learn from patterns over time
o Ex: Product manager for a new type of burger and it’s your job to diffuse the
information to stores in all 67 counties of Florida. New legislation has changed
taxes and employments (seasonal occurrence), have to know these things because
in July you have to present it (seasonal event). New ingredients in the burger has
been found to create a disease (plan to spend time with risk management,
insurance) – non-cyclical event that’s about to become one.
▪ Non-cyclical events followed by seasonal patterns
• Testable: online required readings, all lectures, all assigned readings
• Law – “enforceable rules governing conduct and relationships in society”
o Substantive law vs. Procedural law
o Substantive – conducts and relationships, sets limits and parameters on okay
relationships
▪ Ex: bankruptcy law – defines the conditions that allow individuals or
business to qualify for protection from bankruptcy
o Procedural – establishes game rules for how to comply with substantive law,
formalities of how to conform, deadlines etc.
▪ Ex: bankruptcy, sets requirements for forms to file by petitioner,
appropriate filing locations, timing for trustee hearings, for filing other
documents
• Sources of the Law – modern legal Western traditions
o Many sources and hierarchies
o Virility, ethics – religious sources (?)
o National constitutional law – creates infrastructure for statutes and regulations
▪ States can variants
o Statutes, ordinances and regulations themselves
o Judicial rulings that interpret the laws
find more resources at oneclass.com
find more resources at oneclass.com
o All together they create and implement the conduct and relationships between the
U.S., states, municipalities
▪ Then international law, that’s conduct among sovereign nations
• Jurisprudence
• Operates on civil law – Louisiana
o Comprehensive codes that regulate conduct
o Came over from Roman
o *** check lecture for how it changes
• 49 states do common law
o Brought to the U.S. with English settlers
o Judicial decision of individual cases, with an effort to maintain and build social
stability to have the same law throughout the colony
o A reliance on the holdings of prior cases that instruct judges in later cases for it to
be resolved consistently
o Not static
o Real estate boundary dispute case – want them to apply the same law to the facts
before them the same way because the higher courts said “this is how you’ll do it”
o Stare decisis – to stand by things decided
▪ Modifies over time very slowly
▪ If this fails, it leads to – cases of first impression
• Cases of first impression
o Judges and justices will look at other sources of law to inform them of where they
should go, without a straight line precedent but will look for parallels
• Legislature will look at rulings of court and change a statute and then the courts will
adopt that approach
• U.S. Constitution
o Predicates itself, from a variety of secular and religious sources
o Hammurabi, Magna Carta
o Articles of Confederation and Plymouth Contract
o Built upon the things before it
o 1787 – Constitution adopted with 7 articles
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
New legislation has changed taxes and employments (seasonal occurrence), have to know these things because in july you have to present it (seasonal event). Developer wants to build something on a specific section of land that"s zoned for something, and they want to build something else. The developer can go to the commission and ask for it to be rezoned. Generally, specifically with the constitution: dynamic constructivists don"t take a strict reading of the law or constitution, may look at outside factors. How can one tell if an agent is acting within or outside the scope of authority: can have broad scope of authority (employees assigned to do multiple tasks, actual authority , express. If the principal declares the agent"s authority in clear and objective terms. If contract must be in writing, the authority has to be in writing as well (equal dignity rule) (with exceptions) Person standard: standard of care is found by the fact finder, 1.
