Introduction to Business Law Individual Project 1 Essay

Introduction to Business Law Individual Project 1 - Essay Example A trial Court only has the jurisdiction to intervene in a case involving two parties within a particular jurisdiction or in a case where a complaint is brought by a litigant against a local Government body. Similarly, the Supreme Court is generally likely to hear disputes involving two states or those involving constitutional rights and in this case, since the issue is the breach of contract by the U.S. Government of one party located within a particular Court of Appeals jurisdiction, the case may be likely to heard at the U.S. Court of Appeals for that particular jurisdiction. Another matter that may be taken up by the U.S. Court of Appeals is the appeal of the 5th U.S. District Court decision. However, in view of the visit of the Company senior directors, it appears likely that the issue that will be taken up would involve a business issue and in this case, the contractual dispute that involves the U.S. Government being cited as one of the parties in the suit appears to be the one that is likely to qualify. The function of the law is to ensure that the rules and regulations that are established by various Government and executive bodies are upheld and maintained by individuals, and it is the forum where any disputes arising out of the application of the law may be adjudicated. The two most important sources of law are statutes and judicial precedents. Statutes are the major sources of law and they may be constitutional ones, in which case they are framed at deferral and state levels, or they may be statutes that are framed at the federal and state levels. Laws may also be comprised of ordinances passed by other Government bodies, administrative agency rules or executive orders. Additionally judicial precedent may also become a source of law in some cases. While judicial decisions themselves do not become laws per se, important decisions made