43 terms

Business Law Study Guide

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
A false and malicious attack communicated to a third party
Duty, Breach of Contract, Causation, and Damages
Contract Law Requires?
Agreement, Consideration, Legal
Cannot Sue for something you are already obligated to do
Punitive Damages
Never Awarded in negligence cases.
Condition Precedent
Something must happen
factor that voids a contract
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?
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
unlimited time
Life of Author plus 70
Credit Loss Liability
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
Applies only to publicly traded companies
Fair Labor Standards act
sets up minimum wage and overtime
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