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Terms in this set (47)
Rule of conduct created by our courts
the legal principle of determining points in litigation according to precedent.
merely a goal of law, and the balancing of interests and goals required in our complex system makes it an elusive concept.
What do judges base their decisions on?
their experience, societal objectives, and the need for stability.
a wrongful act or an infringement of a right (other than under contract) leading to civil legal liability
Usual remedy for tort conflicts
Money damages to compensate the victim
an event sufficiently related to a legally recognizable injury to be held to be the cause of that injury
Zone of danger
the area within which one is in actual physical peril from the negligent conduct of another person
What does tort law protect?
a person's body, reputation, and property (including business interests).
In what ways can contracts arise?
through writings, oral exchanges, or from the actions of the parties
When courts find an obligation to pay even though a contract is avoided or never existed.
Two things that must be present in a contract
An offer and acceptance
Manifestation of assent
Proof of an offer and acceptance
The legal capability to form a binding contract
a benefit which must be bargained for between the parties, and is the essential reason for a party entering into a contract.
Statute of frauds
requires that some contracts be in writing to be enforceable.
The parol evidence rule
disallows oral evidence which tends to contradict the written contract.
Instead of damages, a party may seek to have the contract performed as promised
How is personal distinguished from real property?
By its portability
a relationship established by an expressed or implied agreement in which one person is given possession of the personal property of another for a definite purpose
A finder of lost property is...
a bailee of that property
a right to keep possession of property belonging to another person until a debt owed by that person is discharged
The two major aims of federal bankruptcy law
giving the debtor a new start and dealing with the creditors of the debtor in an orderly fashion
consensual relationship which empowers one person (agent) to act on behalf of another (principal).
Can agents delegate their performance to others?
A legal doctrine, most commonly used in tort, that holds an employer or principal legally responsible for the wrongful acts of an employee or agent, if such acts occur within the scope of the employment or agency
Rights of stockholders
The right to vote for the members of the board of directors, to receive dividends when declared by the board, and to participate in the distribution of assets if the company is dissolved.
a doctrine in contract law that describes terms that are so extremely unjust, or overwhelmingly one-sided in favor of the party who has the superior bargaining power, that they are contrary to good conscience
Federal Trade Commission Act of 1914
Established the Federal Trade Commission to enforce existing antitrust laws. 1938 amendments to the Act proscribed all "unfair or deceptive acts or practices in commerce."
Age Discrimination in Employment Act of 1967
Protects persons between the ages of 40 and 70 from employment discrimination based on age.
Rehabilitation Act of 1973
Protects handicapped people from discrimination when large government contracts are involved.
Sherman Act of 1890
Regulates interstate commerce in order to preserve and promote free competition within the American economy. It prohibits conduct that restrains trade and attempts to monopolize.
Clayton Act of 1914
Intended to strengthen the antitrust laws and prohibit specific monopolistic practices. This act prohibits mergers and other specific activities that may lessen competition.
Attempts to eliminate injury due to price discrimination.
National Labor Relations Act (Wagner Act) of 1935
Helped equalize the bargaining positions of companies and laborers by outlawing employer practices that constituted unfair labor practices. The Act affirmed the right of unions to exist and the right of employees to associate with, and bargain collectively through, a unionwithout interference from employers. Also established the NLRB (National Labor Relations Board).
TaftHartley Act (LaborManagement Relations Act) of 1947
Identified illegal union activities such as feather bedding and secondary boycotts.
Also provided employees with the right to refuse to join a union. Also permits the government to invoke a "cooling off" period during which unions may not strike in a situation which might seriously affect the American economy or security.
LandrumGriffin Act of 1959
Attempts to eliminate union corruption and further protect the rights of individual employees.
Equal Pay Act of 1963
Requires equal pay for equal work without regard to gender.
Civil Rights Acts of 1866 and 1871
Attempts to alleviate discrimination.
Civil Rights Act of 1964 (Title VII)
Attempts to eliminate discrimination in employment, where such is based on race, color, national origin, sex, or religion.
Food, Drug and Cosmetic Act of 1938 Established the Food and Drug Administration to conduct tests, issue regulations, and prevent the sale of products that might be harmful to consumers.
Established the Food and Drug Administration to conduct tests, issue regulations, and prevent the sale of products that might be harmful to consumers.
Truth in Lending Act
Regulates the disclosure of terms and conditions of household purchases or agricultural purchases or real estate transactions which will be paid in five or more installments.
Equal Credit Opportunity Act of 1974
Prevents discrimination in granting credit on the basis of sex, marital status, race, color, age, religion, national origin, or receipt of public assistance.
Occupational Safety and Health Act of 1970 (OSHA)
Demands employers to provide safe and healthful working conditions for all employees.
Uniform Commercial Code (U.C.C.)
Adopted throughout all fifty (50) states covers regulations pertaining to sales, commercial paper, bank collection processes, letters of credit, bulk transfers, warehouse receipts, bills of lading, other documents of title, investments securities, and secured transactions.
National Environmental Policy Act of 1969 (NEPA)
Began a series of laws to prevent pollution of air, water and land, and to reduce noise.
Americans with Disabilities Act of 1990 (ADA)--
Forbids businesses from considering a person's handicaps in hiring decisions, and insists upon providing (within reason) special accommodations for handicapped employees and customers.
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