BUSL 2000 Chapter 1-4: Chapters 1-4

• School: Ohio University
• Department: Business Law
• Course: BUSL 2000
• Professor: Craig Jenkins

Document Summary

Chapter 1 law: legal concepts, principles, and rules provide the foundation for the conduct of business, page 4, chart about where law influences business decisions, law is difficult to define defined as rules and regulations established by gov & applied to people , law & legal theories purposes/functions , criminal law resolve disputes that arise between individuals & to impose responsibility, legislative law been passed by legislative bodies (federal/state constitutions, judicial pronouncements legal statements made by courts (interpretations of statutes, procedural law product of the legislative branch, aimed at deterring how lawsuits are handled in courts (rules of evidence) superior and which the inferior is bound to obey and a result of changes that take place in society, many legal scholars define law in relation to the sovereign rule of action which is prescribed by some, social control an instrument of social, political, and economic change.