Students,

The purpose of chapter one is to describe the history of the common law, the various branches of government, different schools of jurisprudence, and how to analyze a case.

The following objectives are addressed in this chapter:

Define business law.
Describe the origins of the American legal system.
Describe theories of punishment as they apply to the legal system.
Describe theories of jurisprudence.
Explain the creation and development of the common law.
Explain the creation and development of statutory law.
Differentiate between procedural and substantive laws.
Identify the state, federal, and international governing bodies that create law.
Identify the ways that specific regulations affect business.
Identify resources and methods that are used by legal professionals to research the law.
Locate a primary source of law based on a given legal citation.
Explain how common law and civil law systems differ.

Key Terms

Precedent: The tendency to decide current cases based on previous rulings

Common law: Judge-made law

Statute: A law created by a legislature

Criminal law: Law that prohibits certain behavior for the benefit of society

Civil law: Law that regulates the rights and duties between parties

Jurisprudence: The philosophy of law

Sovereign: The recognized political power, whom citizens obey

Plaintiff: The party who is suing

Defendant: The party being sued