Professional Documents
Culture Documents
(a) Identify several reasons put forth to explain why nations are prosperous or
poor.
There are several factors that play into the prosperity or poverty of a
nation. A major reason is the availability of natural resources. Access to
natural resources explains most nations prosperity. An adequately
enforced system of equally applied law creates a strong foundation for
economies to prosper. Education and technology will always set apart
nations that are looking to become leaders.
(b) What does this section say is the foundation of the private market and
prosperity?
The presence or the absence of a modern private market is the single
most significant reason why some economies are strong and others are
weak.
2. Law
(a) Define law. Compare and contrast law and custom.
Law is the rules of the state backed by the enforcement. Customs are
norms of the society. Customs can be looked at as the rituals and the
social acceptable rules of society. These can change depending on the
age, gender, ethnicity, etc. of the person. Law is very different in that it
transcends social norms and are truly the rules of a society.
(b) What role do the courts and police play in the legal system?
Courts and the police interpret and enforce the law, respectively. These
two entities of the legal system enforce and maintain order in society.
3. The rule of law.
(a) Define the rule of law. How does the rule of law differ from law as the
commands of the state?
The rule of law is more of an ideal rather than a complete fact. Often
times, special interest groups attempt to persuade law makers to benefit
these groups at the expense of others. The rule of law attempts to apply
laws generally and equally. Through the rule of law, can hold lawmakers
accountable who excessively favor special interest groups.
(b) Explain why the rule of law is an ideal rather than a complete fact.
The rule of law are laws that are made to be general and equal
applications of laws. They apply to all or most members of society and
they apply to various groups in the same way.
4. Property
(a) What is property? How does property differ from resources?
Property is a legal right that allows you to exclude others from your
resources. Resources are land or common property.
(b) Why is property important to society? To private enterprise?
Property is important in society as it is the legal right to ownership. Private
enterprises, the basis of a free market capitalist system. It is a business
unit established, owned and operated by private individuals for profit,
instead of by or for any government or its agencies.
Civil cases include suits for breach of contract or tort cases, such as cases
for personal injuries. Criminal law cases, involve a representative of
government, attempting to prove the wrong committed against society
and seeking to have the wrong doer punished by the court system.
(b) Explain the two ways that the words civil law are used in this chapter.
The chapter uses "civil law" to refer to a civil law legal system, where civil
law relies more on legislation then judicial decision for law. Also used
when discussing civil, (non-criminal) lawsuits.
10. Substantive law and procedural law.
(a) Define substantive law and procedural law.
Substantive law defines the legal relationship of people with other people
or between them and the state. Procedural law deals with the method and
means by which substantive law is made and administered.
(b) Is contract law substantive law or procedural law? How about a rule
specifying that a defendant has 30 days to respond to a complaint?
Contract law is substantive law. A rule specifying that a defendant has 30
days to respond to a complaint is procedural law.
Sources of law
11. Federal Law
(a) Explain what it means to say that constitutions are the "highest laws of
the nation"?
The U.S constitution is the supreme law of the nation. It overrides all other
sources of law.
(b) Explain the important distinctions
between state and federal constitutions.
The state constitutions authority as a source of law applies only to the
particular states that have adopted them. If state constitutional provisions
conflict with the U.S Constitutional or with federal constitutional at all, the
provisions are void as a source of law, meaning that they do not apply to your
question about pollutants.
12. State Law
(a) Give two additional terms for legislation.
Legislation adopted by congress or a state legislature is usually referred to
as a statue or act.
(b) Why is uniformity of law important to business? How can legislators
achieve uniformity of the laws affecting business? What is the most
significant uniform law affecting business?
Uniformity of law is important to business because if the law lacks
uniformity, it decreases the certainty necessary for the conduct of interstate
business and the general ordering of society. Legislators can achieve
uniformity of the law by congress enacting a single law that preempts varying
state laws. Or by the national conference of commissioners on Uniform state
laws trying to promote uniformity by drafting model acts. The most significant
uniform law affecting business is the Uniform Commercial Code (UCC).