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Business Law
business law
25
Law
Undergraduate 3
05/22/2008

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Term
attorney/client privilege
Definition
permits clients to keep confidential matters discussed by or with their attorneys
Term
attorney's fees
Definition
ordinarily, unless a statute provides that a winning party may recover attorney fees or a claim or defense was outrageously wrong, the parties pay their own councel
Term
case law
Definition
common law is, therefore, the overall accumulation of judicial decisions, known as case law
Term
Civil Law
Definition
codified law based on the Roman code of Justinian' the basis of the legal system of most European and Latin American countries
Term
code
Definition
in the common law, a collection of statutes enacted by legislative bodies, including congress and state legislatures
Term
common law
Definition
law as developed and pronounced by the courts in deciding cases ("case law"), based on the common law of England and judicial precedent
Term
constitution
Definition
a nation's or state's supreme set of laws, outlining the basic organization, powers, and responsibilities of the government and guaranteeing certain specified rights to the people
Term
equity
Definition
historically, in England and the U.S., a parallel and independent legal system based on principles of "fair play" or equity; now merged into the general court system, with responsibility for (among other matters) family law, injunctions, and specific performance of contracts
Term
ordinance
Definition
a law passed by a government body below the state level and dealing with a local concern
Term
law
Definition
that which a judge will decide concerning matters properly brought before him/her; in a broader sense, any rule that society will enforce
Term
lex talionsis
Definition
Latin meaning "the law of retaliation"or the law of private retribution
Term
morality
Definition
the body of self imposed rules of conduct generally perceived to be right
Term
procedural law
Definition
pertains to operating rules for obtaining substantive rights or defining substantive obligations in a court of law
Term
retainers
Definition
money paid in advance to secure the service of a lawyer, it gives both parties assurance of contractual obligations
Term
rule
Definition
a regulation issued by a federal, state, or a local administrative agency (or court) and governing procedure or conduct in a specific field
Term
statute
Definition
a law passed by the U.S. Congress or a state legislature
Term
substantive law
Definition
refers to any body of law creating, defining, and regulating rights and obligations within the framework of a single subject, such as contracts, torts, crimes, or property
Term
stare decisis
Definition
(Latin) "stand by the decision" a requirement that a court follow its own and higher court precedents
Term
statute
Definition
a law passed by the U.S. Congress or a state legislature
Term
Uniform commercial code
Definition
a comprehensive uniform law covering most commercial transactions (ie banking, sale of goods)
Term
affectation doctrine
Definition
as long as the activity sought to be regulated affects interstate commerce it is within congressional regulatory authority
Term
appellate jurisdiction
Definition
the power to hear appeals from other court's decisions
Term
bill of attainder
Definition
laws intended to single out an individual and/or punish him/her without benefit of a trial
Term
checks and balances
Definition
governmental arrangement whereby powers of each governmental branch (executive, legislative, judiciary) check and/or balance powers of the other branches
Term
commercial speech
Definition
expressions such as advertising, made by businesses; while protected under the constitution's First Amendment, this type of speech can be restricted as to time, place, and manner in ways that political speech cannot
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