Prompt: After reading the assigned scripture, discuss the biblical principles you see exemplified in the U.S. Constitution and how these principles can be applied to business. Be specific, using exa

 Rules enacted by a government that governs individuals and relationships in society Introduction, cont.

 What is the difference between public and private law  Public law is enacted by some authorized government body  Example – federal securities laws  Private law is enacted by private individuals  Example – a lease agreement; employment agreement Classifications of Law  Criminal Laws are wrongs against society  Civil Laws are wrongs against individuals  Substantive Laws give rights and responsibilities (elements that make up a cause of action) Classifications of Law, etc.

 Procedural Laws are the means (rules) of enforcing a substantive rights (how one gets a cause of action adjudicated)  Common Law  Began in England in 1066 A.D. and continues today  Non -statutory  Exists in court decisions  Follows case precedent through the doctrine of stare decisis (meaning to “let the decision stand” ) Classifications of Law, etc.

 Statutory Law  Passed by governmental body (legislature)  Also known as codified laws  Law v. Equity  In common law England, remedies were separated into legal (monetary) and equitable (injunction and specific performance) remedies  Courts are authorized to award both types of remedies today Purpose and Characteristics  Purpose of law  Keeping order  Influencing conduct  Honoring expectations  Promoting equality  Characteristics  Flexibility  Consistency  Pervasiveness Sources of Laws  Constitutional law  Exists on both the state and federal levels  Statutory law  Exists on both the state and federal levels  Local laws – ordinances  County and city statutes  Administrative law  Enacted though administrative agencies  Case law and common law International laws  International Organizations (U.N.)  Act of State Doctrine  Expropriation  Confiscation or nationalization: taking of private property by a government  Trade Laws  Tariffs  Treaties  Uniform International Laws  Contracts for the International Sale of Goods (CISG)  Much like Article 2 under the UCC Constitution  Article I – Legislative Branch  Congress  House of Representatives  Senate  Article II – Executive Branch  President  Vice President  Article III – Judicial Branch  Creates U.S. Supreme Court  Authorizes Congress to create other courts Constitution, cont.

 Article IV – State Interrelationships  Article V – Procedures for Amendments  Article VI – Supremacy Clause  Article VII – State Ratification of the Constitution  Bill of Rights  First – Freedom of speech, freedom of religion  Fourth – Privacy  Fifth – Due process; Self -incrimination  Sixth – Jury trial  Fourteenth Amendment – Due process; Equal Protection Constitution and Judicial R eview  Creates a System of Checks and Balances  Each branch has some power check over the other branches to keep any one branch from becoming too powerful (shows that the Founding Fathers distrusted a too centralized power)  What is the role of Judicial Review?

 Determines the rights afforded by the US Constitution  Determines the scope of rights  Plays role in checks and balances system  Self granted under Malbury v. Madison  Can pass judgment on the other branches as to the constitutionality of an action Commerce Clause  The Commerce Clause – Article I, Section *  Standards for Federal Regulation of Interstate Commerce  Historical application  Initially, it had a very narrow interpretation  Authority of the commerce clause expanded over the years through case law and interpretation Commerce Clause, cont.  Standards for State regulation of commerce  If Congress has regulated, there is an overriding concern about the Supremacy Clause  If Congress has not acted, there is a benefit/burden analysis  Balance police power (this is a state’s interest) with the burden on interstate commerce  States cannot give in -state businesses an advantage over out -of - state businesses  Congress has the power to regulate international trade  Congress has the power to tax  Taxes must be assessed consistently Constitution and Preemption  Preemption  Article VI exists to determine which laws control in the event both state and federal governments regulate the same thing  If a state law directly conflicts with a federal law, then the federal wins  Questions considered to determine preemption  What does the legislative history provide?  What is the level of detail in the federal legislation?  What benefit flows from the federal regulation?  What is the nature of the conflict? Bill of Rights  First Amendment  Provides protection for commercial speech – speech used to further economic interests  Advertising can be regulated if a substantial governmental interest must be furthered and the regulation is the least restrictive means of furthering that interest  Corporations have the right to political speech – Citizens United v. Federal Election Commission (2010) Bill of Rights, cont.

 Eminent domain is the right of the government to take private property for public purpose for just compensation  Purposes include  Highways  Schools  Urban development  Economic development  Historical preservation  Due process  Applies to criminal, civil, and administrative proceedings  Example - Summons and complain provide notice to defendants  Includes right of notice and right to be heard  Complete reading assignments  Complete writing assignments  Answer discussion questions  Complete unit quiz 18 What’s Next ? Jennings , M. (2017 ). Business; It’s Legal, Ethical, and Global Environment . (11 th ed .). South -Western Cengage Learning . The Holy Bible 19 References