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Business Law Exam 1- Chapter 1

4 main philosophies of law and which would have been most associated with the birth of the U.S.
Natural Law, Legal Positivism, Legal Realism, Criticla Legal Studies
Natural Law
the Law is an inherent, intuitive set of principles (religious or inherent, common sense)
Legal Positivism
the Law is what it is established and stated to be (someone wrote it down)
Legal Realism
the Law is what the particular decision- maker decides it to be (Judge)
Critical Legal Studies
the Law is an implement of societal control to maintain the power of the elite class (used to enslave, power, who is in control)
Divisions of Law
Substantive vs.Procedural Law, Public vs. Private Law, Civil vs. Criminal Law
Substantive Law
law creating rights, duties and remedies (can and can’t do law) (ex: public vs. private law)
Procedural Law
rules for enforcing substantive law through administrative or judicial processes (court rules) (ex: court, arbitration, or administrative rules)
Public Law
law dealing with the relationship between government and individuals
Private Law
law governing the relationships among individuals and/or legal entities such as corporations
Civil Law
law dealing with rights and duties the violation of which constitutes a wrong against an individual or other legal entity (usually $$, not jail time)
Major Differences between Civil and Criminal Cases
who brings suit=aggrieved individual (plaintiff) sues
burden of proof=preponderance of evidence
outcome=liable/not liable

who brings suit=State or Federal Government prosecutes
burden of proof= beyond a reasonable doubt
outcome=guilty/not guilty

4 Sources of Binding Laws
Constitutional Law, Judicial Law, Legislative Law, Administrative Law
Constitutional Law
fundamental law of a government establishing its powers and limitations
Judicial Law
Common Law: body of law developed by the courts (contract laws, old roman laws)
Restatement Laws vs. Uniform Acts
Restatement Laws:
a scholarly, researched summary of the general principles of common law in a particular area of law

Uniform Acts:
a model statute drafted by conference and adopted by a number of states. UPA, UCC, etc. (Uniform Commercial Code). (tries to get it the same across states, child support ex.)

Hierarchy of Law in the Federal System
U.S. Constitution->
Treaties and Federal Statutes->
Federal Administrative Law->
Federal Common Law->
State Constitution->
State Statues->
State Administrative Law->
State Common Law

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