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Business Law Unit 1 Law, Justice, and You

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1 Business Law Unit 1 Law, Justice, and You
Lesson 1-1 Our Laws and Legal System

2 Goals Explain the stages in evolution of law
Describe the difference between common law and positive law Describe the difference between law courts and equity courts

3 Stages of the Growth of Law
Law- Enforceable rules of conduct in a society Revenge Often results in innocent getting hurt A powerful leader substitutes an award of money or good for revenge Money given to not take revenge Leader gives power to the courts Leader acts to prevent and punish wrong

4 Common Law vs. Positive Law
Common Law- Law based on the current standards or customs of the people Positive Law- Laws set by a sovereign or central authority to prevent disputes and wrong-doings from occuring

5 English Common Law English Common Law-used in all states except Louisiana Disputes settled by local barons therefore based on the local customs and varied from place to place. King’s Bench- appointed judges by the central government to hear important cases (jurisdiction over) to make rulings from central gov. not local barons Jury – unique to English common law system Local citizens chosen to interpret that regions customs for the court.

6 English Common Law continued
Disadvantages Follows precedents Rigid adherence to proper form Money was only remedy for damages Had to wait until harm occurred before action was taken Advantages A web of custom-based common law developed over centuries in England Uniformity and ability to adapt to changes in society Model for legal systems worldwide, including U. S. Follows precedents *precedents- courts as a guide for deciding similar new cases. Helps provide stability in the law.

7 Equity: An alternative to common law
Equity = basic fairness Hearings conducted by chancellors No jury Originally, only available to persons who could petition the king for help (nobles) Remedies imposed in the king’s name Injunction—usually prohibits something from being done King created a system of equity courts to issue injunctions or to compel specific actions In the U. S., law courts and equity courts are merged

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