Business Law

School of Legal Thought:

1. Natural - Moral ideal
2. Historical - Law comes from customs accepted by the population
3. Analytical - Laws that come from logical principles
4. Sociological - Public policy vs. individual needs
5. Realist - Laws come from desirable social needs

Doctrine of Star Decisis
  Stand by decisions in previous determined cases.  Decisions must be the same!

1. Elements
1. Court of competent jurisdiction
2. Decided a controversy
3. By a written opinion
4. set forth a principle of law that formed a basis for it's decision
1. "Here's what judge said then, I want you to say it now."
5. Principle of law will be followed in subsequent cases
1. "5 other cases this has happened."

Res Judicata (only parties in the same legal issues)
    Things have been decided. 

1. Elements
1. Parties are the same
2. Same legal issue
3. Final decision
4. Court of competent jurisdiction