Buisiness Law Essay

1079 WordsNov 20, 20145 Pages
Laura Ballestas BU-201-OL1 Prof. H. Mayer September 14, 2014 Business Law 201 Module One Assignment: Check Your Understanding: 1. Define the following terms: Constitutional law: Law that is based on the U.S. Constitution and the constitutions of the various states. Statutory law: The body of the law enacted by legislative bodies (as opposed to constitutional law, administrative law, or case law). Ordinances: Laws passed by a local governing unit, such as a municipality or a county. Administrative law: The body of law created by administrative agencies (in the form of rules, regulations, orders, and decisions) in order to carry out their duties and responsibilities. Common law: That body of law developed from custom or judicial decisions in English and U.S. courts, not attributable to a legislature. Defendant: One against whom a lawsuit is brought; the accused person in a criminal proceeding. Plaintiff: One who initiates a lawsuit. Petitioner: In equity practice, a party that initiates a lawsuit. Respondent: In equity practice, the party who answers a bill or other proceeding. Statutes of Limitations: A federal or state statute setting the maximum time period during which a certain action can be brought or certain rights enforced. Precedent: A court decision that furnishes an example or authority for deciding subsequent cases involving identical or similar facts. Substantive law: Law that defines the rights and duties of individuals with respect to each other, as opposed to procedural law, which defines the manner in which these rights and duties may be enforced. Procedural law: Rules that define the manner in which the rights and duties of individuals may be enforced. Civil law: The branch of law dealing with the definition and enforcement of all private or public rights, as opposed to criminal matters. Criminal law: Law that defines and

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