REAL EST 312 Study Guide - Real Estate Settlement Procedures Act, Jennifer Bishop, Diversity Jurisdiction
30 Oct 2014
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Document Summary
Chapter 1: introduction to law and legal systems. Sources of law: determining what the law is is difficult, cases/statutes/regulations published increasingly, computers allow increased access to the law (more legal info available, 1) constitution: provides framework within which federal/state govs must, different sources of law: operate. Functions: allocates power between states and federal gov, most re law state law but federal gov statutes often apply, fed re laws: truth-in-lending act, bankruptcy, Real estate settlement procedures act: protection of individual rights (private property, law applied equally to all, gov can"t deprive you of life, liberty or property. Exceptions: eminent domain, police power: 2) precedent: published opinion of appellate court serving as authority for determining a legal question in a later case with similar facts. Stare decisis: judges" obligation to follow precedents. If judge doesn"t follow this: case reversed, judge censored/impeached. Can avoid effects of previous cases: point out factual differences.
