Business Law Today PDF

Roger LeRoy Miller BUSINESS LAW Today STANDARD EDITION TEXT & SUMMARIZED CASES, 12e Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 20...

Roger LeRoy Miller BUSINESS LAW Today STANDARD EDITION TEXT & SUMMARIZED CASES, 12e Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Law and Legal Reasoning Chapter 1 Chapter Outline 1-1 Business Activities and the Legal Environment 1-2 Sources of American Law 1-3 The Common Law 1-4 Classifications of Law Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  Learning Objectives 1. What are four primary sources of law in the United States? 2. What is a precedent? When might a court depart from precedent? 3. What is the difference between remedies at law and remedies in equity? 4. What are some important differences between civil law and criminal law? Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-1 Business Activities and the Legal Environment Liability: The state of being legally responsible (liable) for something, such as a debt or obligation. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1-1a Many Different Laws May Affect a Single Business Transaction Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1-1b Linking Business Law to the Six Functional Fields of Business 1. Corporate management 2. Production and transportation 3. Marketing 4. Research and development 5. Accounting and finance 6. Human resource management Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-2 Sources of American Law Primary source of law: A document that establishes the law on a particular issue, such as a constitution, a statute, an administrative rule, or a court decision. Secondary source of law: A publication that summarizes or interprets the law, such as a legal encyclopedia, a legal treatise, or an article in a law review. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-2a Constitutional Law Constitutional law: The body of law derived from the U.S. Constitution and the constitutions of the various states. U.S. Constitution is the supreme law of the land. Each state has its own constitution which is supreme within the state’s borders, unless it conflicts with the U.S. Constitution. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-2b Statutory Law Statutory law: The body of law enacted by legislative bodies (as opposed to constitutional law, administrative law, or case law.) Local Ordinances Applicability of Statutes Uniform Laws The Uniform Commercial Code (UCC) Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-2c Administrative Law Federal Agencies State and Local Agencies Agency Creation Rulemaking: rules, orders and decisions of administrative agencies Enforcement and Investigation Adjudication Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-2d Case Law and Common Law Doctrines Case law: The rules of law announced in court decisions. Case law interprets statutes, regulations, constitutional provisions, and governs all areas not covered by statutory or administrative law. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-3 The Common Law 1-3a Early English Courts King’s courts started after Norman conquest of 1066. Established the common law—a body of general legal principles applied throughout the English empire. King’s courts used precedent—a court decision that furnished an example or authority for deciding subsequent cases—to build the common law. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-3b Stare Decisis (slide 1 of 3) Stare decisis: A common law doctrine under which judges are obligated to follow the precedents established in prior decisions. Controlling Precedents Binding authority on lower courts. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-3b Stare Decisis (slide 2 of 3) Stare Decisis and Legal Stability Departures from Precedent Case Example 1.6 Brown v. Board of Education (1954): The U.S. Supreme Court overturned precedent when it held that ‘separate but equal’ facilities was unconstitutional. When There is No Precedent Cases of first impression Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-3b Stare Decisis (slide 3 of 3) Stare Decisis and Legal Reasoning 1. Issue—What are the key facts and issues? 2. Rule—What rule of law applies to the case? 3. Application—How does the rule of law apply to the particular facts and circumstances of this case? 4. Conclusion—What conclusion should be drawn? Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-3c Equitable Remedies and Courts of Equity (slide 1 of 4) Remedy: The relief given to an innocent party to enforce a right or compensate for the violation of a right. Remedies at law: in king’s courts, remedies were restricted to damages in either money or property. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-3c Equitable Remedies and Courts of Equity (slide 2 of 4) Remedies in Equity Based on justice and fair dealing, a chancery court does what is right: specific performance, injunction, rescission. Plaintiff: One who initiates a lawsuit. Defendant: One against whom a lawsuit is brought or the accused person. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-3c Equitable Remedies and Courts of Equity (slide 3 of 4) The Merging of Law and Equity A court will normally only grant an equitable remedy only when the remedy at law (property or monetary damages) is inadequate. Equitable Maxims Provide guidance in deciding whether plaintiffs should be granted equitable relief. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-3c Equitable Remedies and Courts of Equity (slide 4 of 4) Exhibit 1–2 Procedural Differences between an Action at Law and an Action in Equity PROCEDURE ACTION AT LAW ACTION IN EQUITY Initiation of lawsuit By filing a complaint By filing a petition Decision By jury or judge By judge (no jury) Result Judgment Decree Remedy Monetary damages or property Injunction, specific performance, or rescission Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1-3d Schools of Legal Thought (slide 1 of 3) The Natural Law School Oldest and most significant view of law Government and legal system should reflect universal moral and ethical principles; basis for natural rights These principles are inherent in human nature, can be discovered through right reason. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1-3d Schools of Legal Thought (slide 2 of 3) Legal Positivism Morality of a law is irrelevant Applies only to citizens of that nation or society No higher law than the nation’s highest governing body or court Laws must be obeyed regardless of whether they are just or unjust Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1-3d Schools of Legal Thought (slide 3 of 3) The Historical School Emphasizes the evolutionary process of law Looks to the past to determine laws for present Law derives legitimacy from precedent Legal Realism Began in 1920’s; law must be viewed within the social context Judges should take economic and social realities into account. Not bound by past decisions Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  Landmark in the Law Equitable Maxims 1. Whoever seeks equity must do equity. 2. Where there is equal equity, the law must prevail. 3. One seeking the aid of an equity court must come to the court with clean hands. 4. Equity will not suffer a wrong to be without a remedy. 5. Equity regards substance rather than form. 6. Equity aids the vigilant, not those who rest on their rights. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-4 Classifications of Law Substantive vs. Procedural Law Substantive law: Law that defines, describes, regulates, and creates legal rights and obligations. Procedural law: Law that establishes the methods of enforcing the rights established by substantive law. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-4a Civil Law and Criminal Law (slide 1 of 2) Civil law: The branch of law dealing with the definition and enforcement of all private or public rights, as opposed to criminal matters. Typically a private party sues another private party who has failed to comply with a duty. Objective is to obtain a remedy. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  1-4a Civil Law and Criminal Law (slide 2 of 2) Criminal law: The branch of law that defines and punishes the wrongful actions committed against the public. Criminal defendants are prosecuted by public officials on behalf of the state. Objective is to punish the wrongdoer and deter others from similar actions. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1-4b National and International Law National law: Law that pertains to a particular nation (as opposed to international law). International law: The law that governs relations among nations. Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  Appendix to Chapter 1 (slide 1 of 3) Finding and Analyzing the Law Finding Statutory and Administrative Law United States Code (U.S.C.) State Codes Administrative Rules Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  Appendix to Chapter 1 (slide 2 of 3) Finding Case Law State Court Decisions Regional Reporters Case Citations Federal Court Decisions Unpublished Opinions Old Cases Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.  Appendix to Chapter 1 (slide 3 of 3) Reading and Understanding Case Law Case Titles and Terminology Parties to Lawsuits Judges and Justices Decisions and Opinions A Sample Court Case How to Brief Cases Miller, Business Law Today, Standard Edition: Text & Summarized Cases, 12th Edition. © 2020 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.