CHAPTER 1.docx

3 Pages
Unlock Document

Virginia Commonwealth University
MGMT 644

CHAPTER ONE Definition of “Law”: The law consists of rules that regulate the conduct of individuals, businesses, & other organizations within society. It’s intended to protect people/their property from harm.  “Body of rules of action or conduct prescribed by a controlling authority & having binding legal force. Citizens must obey/follow it and they are subject to sanctions or legal consequences if they don’t.” Functions of Law – Keeping the peace: law prohibits certain conduct in order to protect people from crime. Moral Standards: Law enforces/shapes moral standards.  Ex: Some laws discourage alcohol & drug abuse – Alcohol is prohibited to be sold on Sundays. Social Justice: Promotes equality among races.  Ex: Some laws prohibit discrimination in employment. Status quo: Maintain a system – what to do & what not to do.  Ex: Some laws prevent the forceful overthrow of the government. Facilitating orderly change: Protects system of law; laws can be changed with adaptation.  Ex: Laws are enacted only after considerable study, debate, & public input. Planning: Well-designed commercial laws allow businesses to plan their activities, allocate their productive resources, & asses the risks they take. Basis for compromise: Approximately 90% of all law suits are settled prior to trial. Maximizing Individual Freedom: The right to freedom of speech, religion, and association are granted by the 1 amendment to the U.S. constitution. Fairness of Law The U.S. legal system is one of the most comprehensive, fair & democratic systems of law ever developed & enforced. Even though this is true, sometimes problems (abuses of discretion/mistakes by judges & juries, procedural mishaps, unequal application of law) & guilty parties may be overlooked and go unpunished.  Jury system: allowing members of a jury to decide a case for you. Flexibility of Law U.S. law evolves & changes w/the norms of the time, society, technology, & the growth & expansion of commerce in the United States & the rest of the world. The law can be adjusted over time depending on the requirement.  1954 -Brown v. Board of Education: “Separate is not equal”; This was a consolidated case that challenged the separate school systems of 4 states – Chief justice Warrenthtated that the separate but equal doctrine violated the Equal Protection Clause of the 14 amendment. Ruled that the separate but equal doctrine has no place in public schools. This case demonstrates that one supreme court case can overrule prior supreme court case in order to promote justice. Philosophy of Law - Won’t cover, not on test History of American Law  English Common Law: (Judicial made law) based on systems of courts made up in England. Common law was developed by judges who issued their opinions when deciding cases. Principles announced in these cases became precedent for later judges deciding similar cases. Can be divided into cases decided by the law courts, equity courts, & merchant courts.  Chancery Courts: (equity courts) deal with what is fair. Established to give a fair decision on the case if the law court system was not fair or couldn’t grant an appropriate remedy. Things other than money. Rather than emphasize legal procedure, chancery court would look at merits of case. Remedies were called equitable remedies because they were shaped to fit every situation. These took precedence over legal decisions & remedies of law courts.  Ex: Hope diamond bidding – if you win, seller must sell you the diamond, if not owner goes to jail.  Merchant Courts: Law of merchants to solve commercial disputes.  Civil Law: statue made law, Louisiana only. Civil code/parliamentary statutes are the sole sources of the law in most civil law countries. So
More Less

Related notes for MGMT 644

Log In


Don't have an account?

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.