Rulemaking is a public process where government agencies establish regulations related to their mission. It allows for public participation and prevents agencies from passing regulations without consent. Agencies can operate more effectively by making regulations within their mandates, and the public can provide feedback without needing lawyers. Rulemaking is a process that allows government agencies […]
Home rule allows a subset of a larger government to make their own laws. Municipal house rule is typically enacted through state legislation and allows particular cities or counties to establish their own statutes. Local charters are limited in that they generally cannot waive statewide taxes or legalize something that is specifically prohibited by state […]
The American rule in law means each party is responsible for their own attorneys’ fees, unlike the English rule where the losing party pays. Some exceptions exist, but the American rule is controversial. Opponents argue it encourages frivolous lawsuits, while proponents say it prevents intimidation of plaintiffs with limited assets. Both sides agree that defendants […]
The Rule of Reason, developed by the US Supreme Court in 1911, states that only contracts, acquisitions, and mergers that unreasonably restrict trade are affected by antitrust laws. Monopolies are not illegal, but the way they are obtained can be. The rule recognizes that some trade restrictions may be desirable and legal as long as […]
The Best Evidence Rule, originating in 18th century Britain, requires the production of an original document in court unless an exception applies. While still part of US Federal Rules of Evidence, its purpose is obsolete in the digital age, and verifying the authenticity of electronic communication is time-consuming and expensive. The best rule of proof […]
The Volcker Rule limits banks’ business activities to prevent speculation and reduce the risk of another financial crisis. It was proposed by Paul Volcker as part of the President’s Economic Advisory Board to address the economic problems caused by speculative business activity. Banks cannot make speculative investments, but can do so on behalf of clients. […]
Hearsay rules prevent courts from considering unproven information, but there are exceptions such as recorded memories and vital statistics documents. Taiwan only recently adopted a hearsay rule, with exceptions for business records. Hearsay rules protect accused persons’ right to confront their accusers. If Paul does something and tells Terry, Terry may be able to testify […]
The crossover rule is a financial regulation based on technical analysis that helps investors determine whether to go long or short on an investment opportunity based on the movement of a financial instrument. It involves examining the current status of the instrument and reacting accordingly to maximize profits and minimize losses. In terms of financial […]
Rule 144A allows qualified institutional buyers to trade restricted securities without registration requirements, increasing liquidity in the stock market. The SEC regulates the securities market and enforces policies to protect investors while promoting growth. Rule 144A is a financial regulation in the United States that waives registration requirements for the sale of restricted securities when […]
The Taylor Rule is an economic concept that suggests how central banks should set short-term interest rates to balance inflation and employment levels. The US Federal Reserve has generally adhered to the rule, which is believed to have helped maintain healthy growth levels since the 1990s. The Taylor Rule is an economic concept that suggests […]
The PO Box Rule in the US states that acceptance of a contract is effective when sent to the US mail. This rule is an exception to most contract law and applies to tax, insurance, and utility payments. Payment is considered made on the postmark date. Challenges to the law include delivery service and proof […]
The best evidence rule states that only the original evidence can be presented unless there is a legitimate reason why it cannot be used. This rule is complicated when it comes to electronic evidence, but courts can apply it on a case-by-case basis. Digitized evidence can be just as good as the original, and it […]
Rule 144 regulates the sale of restricted or control securities, which are stocks that cannot be sold due to the United States Securities Act of 1933. The rule sets out five conditions to ensure fair transactions and requires the removal of restricted stock certificates. Rule 144 regulates the sale of restricted or control securities—stocks that […]
The cosine rule is used in trigonometry to find aspects of non-right triangles. It is an extension of the Pythagorean theorem and can determine angles and side lengths. It was created by al-Kashi, but may have been devised by Euclid. The rule is useful in triangulation and only works in Euclidean geometry, but different versions […]
The mailbox rule in contract law states that if mail is a reasonable method of transportation for an acceptance, it becomes valid on the date it is deposited in the mailbox. This rule applies to payments on insurance premiums and some tax authorities. The rule only applies to acceptances, not rejections. Clauses may be used […]
A brightline rule is a clear, objective standard used in legal courts to ensure fair judgment. Some support clear rules for removing ambiguity, while others argue they can be too simplistic. Voting laws are an example of a clear rule. They can be created through legal statutes or precedents. In contrast, a balancing test considers […]
The verbal evidence rule prevents extrinsic evidence from modifying or adding terms to a disputed contract, but exceptions exist for correcting errors, clarifying ambiguities, or adding clauses. Written contracts are legally binding, and changes must be made in writing. The rule applies only to final and complete contracts, and extrinsic evidence can be considered for […]
The discovery rule allows the statute of limitations to begin when the plaintiff becomes aware of the violation, rather than at the time of the tort. Due diligence is required, and the rule does not apply to mass media defamation cases, although this has been challenged with the rise of the internet. The discovery rule […]
The collateral source rule prevents a defendant from deducting compensation from a plaintiff’s damages that have already been paid by other sources. Some states have modified or eliminated the rule, allowing evidence of collateral payments to be considered during a trial. Some collateral sources have subrogation clauses that allow them to collect money paid to […]
Phonological rules describe how sounds are produced in spoken language, varying between languages and dialects. They include the underlying sound, the environment in which it is altered, and the specific alteration. There are four main groups of alteration: assimilation, dissimilation, insertion, and deletion. These rules do not imply a correct or preferred mode of pronunciation […]
