Name __________________________________ Business Law Chapter 1 Day 3 Notes & Vocab

Name __________________________________
Business Law
Chapter 1 Day 3 Notes & Vocab
Laws Come from Different Sources
2. ________________________________________________________________
3. ________________________________________________________________
4. ________________________________________________________________
5. ________________________________________________________________
Common Law
The ______________ system of the US, except for __________________, is rooted in
the _______________ common law. The early ________________ colonists came from
________________. It was only natural for them to adopt the law of ______________ as
the law of their new land. In the early days of English history, the ___________ tried to
_____________________ the English government and establish a ___________ system.
Judges, called _________________ or ___________________, traveled in circuits
around the countryside deciding _______________. Every effort was made to share the
same law “ _____ ______________” with everyone else throughout the country thus the
term ______________ _______ arose. Eventually, court cases were written down an a
body of ____________ developed allowing _____________ to refer to past cases in
making their __________________. This lead to the doctrine of ___________________.
Under this ________________, a judge is required to follow an earlier court
__________________ when deciding a case with similar circumstances. It is also
sometimes called the doctrine of _____________ _______________, which means
“________ ______ _________________ ____________.” Over time, in the US, the
English common law has become eroded by the passing of state _______________, and
court decisions. Nevertheless, parts of the _______________ law exactly as it was
practiced in England, still exist in the ___________ of many ________________ today.
Name __________________________________
Business Law
Statutory Law
Statutes are __________ specifically passed by a __________________ body created for
that purpose. Thus, laws passed by Congress, state legislatures, local city
_____________, or town meetings can all be called __________________ law.
Statutory law is found in state and _______________ statutes, city __________________
and town _______________. The differences in terms tell us which level of
_______________________ a ________ was passed.
State Statutes
Each state has its own __________________, or body of ___________________, which
has the job of creating or passing _______________ law. While the names of state
______________________ may differ, their basic _________________ is the same, to
make __________________ law. A statute may ________________ people to do
something. For example, a statute may require the citizens of a state to pay
___________, wear ___________ belts, or stay in ______________ until they are
_________ years old. Some statutes _______________ people from performing certain
acts. A statute that prevents individuals from ___________________ or
_____________________ alcoholic beverages until they are at least ________ years old
is such a statute. As noted previously, the US ____________________________ is the
________________ law of the land. This means that a statute passed by a ____________
legislature must not ________________ with the US Constitution. A statute that does
conflict with the US Constitution may be declared ______________________________.