MSIT 3000 Lecture Notes - Lecture 1: Regulatory Law, Substantive Law, Punitive Damages

• School: University of Georgia
• Department: Management Sciences and Information Technology
• Course: MSIT 3000
• Professor: Megan Lutz

Document Summary

Law: a bunch of rules, the rules that are established by the government and backed up by enforcement, which has to be adequate. Rule of law: law should be generally and equally distributed to all (judges) Property: your right to exclude others from interfering with your property (rights to certain ownership) Common property: owned by two or more people (common space) Natural law: a body of unchanging moral principles regarded as a basis for all human conduct. Positive law: statutes that have been laid down by a legislature, court, or other human institution and which can take whatever form the authors want Historical school: laws are based on history and culture. Sociological jurisprudence: law must change to work with society (laws need to evolve) Legal realism: laws have to be enforced. Common law system: focus on judges to interpret law (started with britain and expanded through colonization)