Key Terms
Law
Rules of conduct established by authority and enforced over a territory. Statutory law: Laws passed by Congress or state
Example
Civil Rights Act of 1964
Definition
Failure, without legal excuse, to perform any promise that forms all or part of the contract.
How a bill becomes law
1. Proposal introduced as a bill 2.
Real-world example
A state statute prohibits alcohol sales before noon on Sundays. A store clerk cannot sell you beer regardless of your ag
Key doctrine
Stare decisis — Latin for "let the decision stand." A binding precedent from a higher court must be followed by lower co
Goal of a tort claim
Damages — usually a monetary award compensating the injured party for their loss.
Negligence
Plaintiff must prove the manufacturer or seller acted unreasonably.
Strict liability
Plaintiff does NOT need to prove unreasonable conduct. They only need to show:
Intellectual property (IP)
Creations of the mind — ideas, creative works, or inventions that can be shared or enable others to recreate or manufact
Material breach
The non-breaching party is released from their obligations AND has the right to all remedies.
Immaterial breach
Non-breaching party must still perform BUT can sue for damages caused by the breach. Example: minor delivery delay when
Common law
Judge-made law based on precedent. Stare decisis: Binding precedent doctrine — "let the decision stand." Tort: A civil w
Product liability
Legal responsibility of manufacturers and sellers for injuries caused by their products.
Privity
A direct contractual relationship between parties. Intellectual property: Creations of the mind protected by law.