Chapter 3 - Business and the constitution. Understand basics of the constitution and principles of federalism; explain importance of certain clauses: supremacy clause, commerce clause, first amendment, due process clauses; discuss important constitutional issues: determining constitutionality, federal preemption, guarantees and limitations. | Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 1 The Nature of Law The Resolution of Private Disputes Business and The Constitution Business Ethics, Corporate Social Responsibility, Corporate Governance, and Critical Thinking Foundations of American Law P A R T Business and the Constitution P A E T R H C 3 “The very idea of the power and the right of the People to establish government presupposes the duty of every Individual to obey the established Government. George Washington Farewell Address September 19, 1796 Understand basics of the Constitution and principles of federalism Explain importance of certain clauses: Supremacy Clause, Commerce Clause, First Amendment, due process clauses Discuss important constitutional issues: determining constitutionality, federal preemption, guarantees and limitations Learning Objectives Overview of the Constitution Establishes a tripartite government to ensure a separation of powers: Article I sets forth | Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 1 The Nature of Law The Resolution of Private Disputes Business and The Constitution Business Ethics, Corporate Social Responsibility, Corporate Governance, and Critical Thinking Foundations of American Law P A R T Business and the Constitution P A E T R H C 3 “The very idea of the power and the right of the People to establish government presupposes the duty of every Individual to obey the established Government. George Washington Farewell Address September 19, 1796 Understand basics of the Constitution and principles of federalism Explain importance of certain clauses: Supremacy Clause, Commerce Clause, First Amendment, due process clauses Discuss important constitutional issues: determining constitutionality, federal preemption, guarantees and limitations Learning Objectives Overview of the Constitution Establishes a tripartite government to ensure a separation of powers: Article I sets forth the legislative powers of Senate and Congress Article II gives executive power to execute legislation, command armed forces, make treaties Article III provides judicial power to the Supreme Court and subsidiary courts Judicial Review In Marbury v. Madison (1803), the Supreme Court interpreted the Constitution to grant federal courts the power of judicial review – power to declare statute or governmental action unconstitutional and void Irony: statute in question gave the Supreme Court special powers A System of Checks & Balances No single branch may control government Supreme Court has power of judicial review States reserve certain powers Federal powers are limited The Power to Regulate Federal government has exclusive power to administer certain national concerns, such as war and currency Some powers are shared with the states Example: power to tax, power to spend States possess exclusive power to enact laws to protect general welfare, health, and safety Federal Supremacy The .
