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Legal Environments of Business

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Legal Environment of Business 1
Chapter 1, question 4
The difference between statutory law and common law is that statutory law is a written law where common laws are based on any prior court decisions and are legal binding. For statutory laws the government, state, and local agencies issue written statutes and regulations which eventually become part of statutory law, as for common law it is prior case decisions and rulings that are followed unless a judge finds a big difference in the between the previous case and current case.
Chapter 2, question 5
The real estate development that Carolyn, Elwood, and Isabella are involved in is a failure. They need to find someone who is familiar with the problems of real estate development in order to reach a proper result. Arbitration, an alternative dispute resolution, is an applicable rule that applies to the facts of this case. In arbitration, the parties involved present the facts and evidence before trained experts that are familiar with the industry practices and determine a resolution. It would be best for Carolyn, Isabella, and Elwood to all agree and submit their case to an arbitrator. By selecting an individual to be an arbitrator, who is very familiar to the real estate market and/or developments and the laws that follow real estate, it would help in eliminating the potential dangers of an unfair trail due to a judge not being familiar with such cases.
Chapter 2, question 12
The legal issue posed is how can the prosecuting attorney discover pertinent information regarding a juror and exclude them from selection. The applicable rule that applies to the facts of this case is voir dire examination, jury selection. This is where lawyers question potential jurors to determine whether they are biased or have any preformed judgments about the parties in the case. Being that the juror in this case has relation to

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