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Management 246 - Chapter 1 - Flashcards

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Class:MGMT 246 - Business and Its Legal Environment
Subject:Management
University:California State University - Fullerton
Term:Winter 2011
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List the 4 schools of Jurisprudential thought 1) Natural Law School
2) Positivist School
3) Historical School
4) Legal Realism
What is the function of Law? To provide stability, predictability, and continuity.
What branch makes the Law? Legislative branch.
When a company wants to do something it should see if its... Profitable, Legal, and Ethical.
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An injunction is... Suing for anything other then money. (Workers to end their strike)
Equitable Remedy To rescind a contract.
List and describe the 4 classifications of Law 1) Substantive Law - Laws that define and create legal rights and obligations.
2) Procedural Law - Laws that enforce rights.                  
3) Civil Law - Violations towards society. Private party suing another private party usually for money.
4) Criminal Law - Violations against the public.
List the sources that establish the Law 1) Constitutional Law
1) Statutory Law
2) Administrative Law
3) Case/Common Law
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What is a statue of limitation? The amount of time you have to file a lawsuit.
What is precedent? Anything that serves as a guide or reference for future cases.
Courts/Remedies of Equity are used when... No adequate enforcing laws are available.
List the Forms of Legal Reasoning 1) Deductive Reasoning
2) Linear Reasoning
3) Reasoning by Analogy
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 List the 4 schools of Jurisprudential thought1) Natural Law School
2) Positivist School
3) Historical School
4) Legal Realism
 What is the function of Law?To provide stability, predictability, and continuity.
 What branch makes the Law?Legislative branch.
 When a company wants to do something it should see if its...Profitable, Legal, and Ethical.
 An injunction is...Suing for anything other then money. (Workers to end their strike)
 Equitable RemedyTo rescind a contract.
 List and describe the 4 classifications of Law1) Substantive Law - Laws that define and create legal rights and obligations.
2) Procedural Law - Laws that enforce rights.                  
3) Civil Law - Violations towards society. Private party suing another private party usually for money.
4) Criminal Law - Violations against the public.
 List the sources that establish the Law1) Constitutional Law
1) Statutory Law
2) Administrative Law
3) Case/Common Law
 What is a statue of limitation?The amount of time you have to file a lawsuit.
 What is precedent?Anything that serves as a guide or reference for future cases.
 Courts/Remedies of Equity are used when...No adequate enforcing laws are available.
 List the Forms of Legal Reasoning1) Deductive Reasoning
2) Linear Reasoning
3) Reasoning by Analogy
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