Business Law Study Guide

43 terms by Michael0310

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Common Law

Made by Judges, Case Law

Criminal Case

Beyond a Reasonable Doubt

Civil Case

Preponderance of the Evidence

Higher court than Trial Court

Court of Appeals, Supreme Court

Binding Precedent on Trial Court

Court of Appeals

Minimum Contacts

Sue in Either state, Federal if above 75000

United States is a party to the Case

Federal Court

Defamation

A false and malicious attack communicated to a third party

Negligence

Duty, Breach of Contract, Causation, and Damages

Contract Law Requires?

Agreement, Consideration, Legal

Consideration

Cannot Sue for something you are already obligated to do

Punitive Damages

Never Awarded in negligence cases.

Condition Precedent

Something must happen

Gambling

factor that voids a contract

Partnership

Business Entity, Both partners responsible for debts of the business

LLP, LLC, and Corporations

Registered with State

Absence of a partnership agreement

Profit distributed evenly

Implied Authority

Authority Conferred by Custom

Principle is responsible for torts of Agent when agent is?

Servant

Fixture

Personal property attached to the building

Adverse Possession

Becoming the owner by acting like the owner, generally about 7 years

Race Notice System

first to file is owner

Trademark

unlimited time

Copyright

Life of Author plus 70

Credit Loss Liability

$50

Bankruptcy Reform Act

Limits the number of people that can file for chapter 7

Voidable Preference

Paying one debtor to avoid payments to others in bankruptcy

Debts that are not discharged

Student Loans, Taxes, Intentional torts

Employment at Will

Fire anyone at anytime

Sarbanes-Oxley

Applies only to publicly traded companies

Fair Labor Standards act

sets up minimum wage and overtime

FICA

Social security benefit

Drug Testing

Can be done at anytime

Civil Rights Act

Applies to companies with 15 or more employees

Protective Classes title 9

Race, Religion, Gender, and National Origin

When must claims be filed with EEOC?

Within 180 days

Americans with Disabilities Act

Overweight is not a disability

Age Discrimination and Employment Law

40 Years and older protected

Ethics Rule 1

Obey the Law

Ethics Rule 2

Tell Truth

Ethics Rule 3

Keep Word

Ethics Rule 4

Obey Instructions

Ethics Rule 5

Set good tone

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