Business Law I

1
Introduction

• Business Law I
• Professor
• Gilma Diaz-Greco, Esq.
• E-mail gdiazgre_at_mdc.edu
• Bus. Dept. Ph [phone]

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Grading Criteria

• Test 90
• Attendance 5
• Class participation 5

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MDC- Grading Policy

• A 90-100
• B 80-89
• C 70-79
• D 60-69
• F Less than 60

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Chapter 1 THE NATURE AND SOURCES OF LAW
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Nature of Law and Legal Rights

• Legal Rights legal capacity to require another
  person to do or not do an act.
• Individual Rights e.g., right of privacy, which
  protects us from unreasonable searches and
  intrusion into or disclosure of our private
  affairs.
• Privacy and Technology is growing concern.
• Legal Duties legal obligation imposed upon a
  person to do or not do an act.
• Rights and Duties co-exist.

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Sources of Law

• Law consists of the pattern of rules established
  by society to govern conduct and relationships.
• These rules can be expressed as
• Constitutional provisions,
• Statutes,
• Administrative regulations, and
• Case decisions by courts of law

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Sources of Law
Constitutional Law
The National Conference of Commissioners on
Uniform State Law has drafted statutes on various
subjects to try to achieve uniformity among state
statutes.
Statutory Law
Administrative Law
Treaties and Executive Orders
Common Law made up of tradition and court
precedent may be repealed or strengthened by
case law and statutory law.
Case Law laws made by decisions of a court also
courts may enforce common law rules
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Classification of Law

• Substantive law creates, defines and regulates
  rights and liabilities.
• Procedural law specifies how rights and
  liabilities are enforced.
• Civil law is of Roman origin common law is of
  English origin.

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Classification of Law

• Law may be described in terms of the subject to
  which it relates, such as estate law or contract
  law.
• A special category of law is the principle of
  equity, used in special cases for which the
  standard law does not provide adequate remedy.