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Study sets matching "business law 2"

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Study sets matching "business law 2"

25 terms
Business Law 2.2
True
True
False
False
A meeting that is held whenever there are urgent issues that…
A meeting that is held once in a year is known as an annual g…
A period of 7 days' notice is required for all companies to h…
All notices for meetings are not required to state the items…
True
A meeting that is held whenever there are urgent issues that…
True
A meeting that is held once in a year is known as an annual g…
27 terms
Business Law 2.5
Share
Nominal Capital
Company
Company's Act 2012
A...............................is defined as a unit of capital
The amount of capital a company starts with
a legal entity which is separate and distinct from the members.
Company law is govern by
Share
A...............................is defined as a unit of capital
Nominal Capital
The amount of capital a company starts with
25 terms
Business law 2.9
False
False
False
False
A company can be formed by two or more persons.
private companies limit their membership up to 50 people.
private companies can invite the public to subscribe for shar…
a private company requires a quorum of three members at the g…
False
A company can be formed by two or more persons.
False
private companies limit their membership up to 50 people.
25 terms
Business Law 2.4
False
False
False
False
The case of Macaura V Northern Assurance Ltd (1925) illustrat…
A statutory declaration of compliance is conclusive evidence…
A memorandum of association, being a very important document…
Personal property of members in a limited liability company c…
False
The case of Macaura V Northern Assurance Ltd (1925) illustrat…
False
A statutory declaration of compliance is conclusive evidence…
22 terms
Business Law 2.8
False
True
False
False
The case of Lee vs Lee (1961) AC is a case that illustrates t…
The case of Macaura Vs North Assurance co Ltd (1925) is a cas…
A person suing a company must include the names of the compan…
A company will come to an end if all its members die in an ac…
False
The case of Lee vs Lee (1961) AC is a case that illustrates t…
True
The case of Macaura Vs North Assurance co Ltd (1925) is a cas…
25 terms
Business Law 2.1
True
False
False
True
Statutory meetings are meetings held only by public companies.
Decisions passed by a company meeting are called directives.
Quorum refers to the minimum number of members required to re…
A proxy is a written document authorizing another to vote on…
True
Statutory meetings are meetings held only by public companies.
False
Decisions passed by a company meeting are called directives.
25 terms
Business Law 2.3
False
False
False
False
A company can only be formed by two or more parties.
Private companies limit their membership to 50 people.
Private companies can invite the public to subscribe for shar…
A private company requires a quorum of three members at the g…
False
A company can only be formed by two or more parties.
False
Private companies limit their membership to 50 people.
29 terms
Business Law 2.10
True
False
False
False
A company is a separate legal person from the members
The minimum number of members in a private company is 7
A promoter must always be remunerated for his services
Pre-incorporation contracts are binding on the company
True
A company is a separate legal person from the members
False
The minimum number of members in a private company is 7
40 terms
Business law 2.12
True
False
True
False
Company limited by guarantee is not allowed to distribute its…
Limited liability company limits the liability of its members…
If one company has a major shareholding in another, they may…
A is the holding company of B this means that A is a subsidia…
True
Company limited by guarantee is not allowed to distribute its…
False
Limited liability company limits the liability of its members…
45 terms
Business Law 2.01
Acceptance
Benefits
Capacity
Consideration
Unqualified willingness by the offeree to go along with the o…
Something that a party was not previously entitled to recieve
Legal ability to enter into a contract
Exchange of benefits and detriments by the parties to an agre…
Acceptance
Unqualified willingness by the offeree to go along with the o…
Benefits
Something that a party was not previously entitled to recieve
23 terms
Business Law 2.02
Accord and Satisfaction
Actual Damages
Anticipatory Breach
Assignee
Substitute one contract for another.
Damages DIRECTLY related to breach.
Notified that a party to the contract will not fulfill their…
Party to whom right is transferred.
Accord and Satisfaction
Substitute one contract for another.
Actual Damages
Damages DIRECTLY related to breach.
112 terms
Business Law Exam 2
A person can be charged with a TORT an…
A civil wrong for which the law provid…
Makes employer liable for torts (inten…
What 3 things could you use to claim F…
Automatic
Tort
Vicarious Liability
1. Lack of Probable Cause... 2. Done in a UNREASONABLE Time... 3. D…
A person can be charged with a TORT an…
Automatic
A civil wrong for which the law provid…
Tort
12 terms
Business Law-Chapter 2
Civil Disobedience
Consequence-Based Reasoning
Impartiality
Universalizing
Open, peaceful violation of a law to protest its alleged inju…
Form of ethical reasoning that evaluates the results of an ac…
Idea that the same ethical standards apply to everyone.
Mental test to identify illogical actions.
Civil Disobedience
Open, peaceful violation of a law to protest its alleged inju…
Consequence-Based Reasoning
Form of ethical reasoning that evaluates the results of an ac…
17 terms
Business Law Chapter 2
Declaration of Independence
Articles of Conferedation
U.S. Constitution
Bill of Rights
Document that asserted the rights of the and was adopted on J…
Document which united the 13 colonies with a common government.
Supreme Law of the Land
First 10 amendments of the Constitution
Declaration of Independence
Document that asserted the rights of the and was adopted on J…
Articles of Conferedation
Document which united the 13 colonies with a common government.
20 terms
Business Law-Chapter 2
ADR means...?
The first 10 Amendments are known as...?
Plaintiff
Defendant
Alternate Dispute Resolution
The Bill of Rights
The party who claims to have suffered
The party who allegedly harmed the plaintiff
ADR means...?
Alternate Dispute Resolution
The first 10 Amendments are known as...?
The Bill of Rights
24 terms
Business law2.11
A company
A Company Limited by Shares
Company Limited by Guarantee
Company Limited by Guarantee
A legal entity separate and set apart from its members or sha…
where the memorandum of association limits the liability of i…
This is one where the liability of its members is limited to…
..................................are not useful for carrying…
A company
A legal entity separate and set apart from its members or sha…
A Company Limited by Shares
where the memorandum of association limits the liability of i…
23 terms
Business Law 2.02
Wrongful Alteration
Tender of Performance
Substantial Performance
Statute of Limitations
Any altering or changing of a contract will discharge parties…
Offer to Perform
Slightly less than full performance
Individual states have a time limit on lawsuits to be filed.
Wrongful Alteration
Any altering or changing of a contract will discharge parties…
Tender of Performance
Offer to Perform
42 terms
business law 2.01
Acceptance
Benefits
Bilateral
counteroffer
Unqualified willingness by the offeree to go along with the o…
Something that a party was not previously entitled to receive
contains two promises
Any changes in the terms of the offer
Acceptance
Unqualified willingness by the offeree to go along with the o…
Benefits
Something that a party was not previously entitled to receive
23 terms
Business Law 2.7
False
False
False
True
A company is formed by members contributing money towards the…
A law governing companies is the constitution of the Republic…
A company is an artificial partnership
A private company may have a quorum of two or more members fo…
False
A company is formed by members contributing money towards the…
False
A law governing companies is the constitution of the Republic…
25 terms
Business Law 2.13
True
True
False
False
Everything in the memorandum of association can be altered ex…
A shareholder that signs a memorandum of association automati…
It is compulsory to draft the articles of association
Table B is for companies limited by shares and table A is for…
True
Everything in the memorandum of association can be altered ex…
True
A shareholder that signs a memorandum of association automati…
60 terms
FBLA Business Law -2
Principal
E-contract
Buyers select and agree to buy the goo…
The principal & 3rd party
Person who authorizes another in an agency relationship
Any contract formed electronically such as over the internet
When payment for goods take place at a later date, the transf…
Any agreement reached by the representative in an agency rela…
Principal
Person who authorizes another in an agency relationship
E-contract
Any contract formed electronically such as over the internet
9 terms
Business Law - Chapter 2
Sarbanes-Oxley
Morals
Ethics
Values
Federal statute that monitors financial dealings
Beliefs concerning what is right and wrong
Moral principles that govern a persons behavior
Standards of behavior that are worthwhile
Sarbanes-Oxley
Federal statute that monitors financial dealings
Morals
Beliefs concerning what is right and wrong
17 terms
Business Law Chapter 2
Declaration of Independence
Articles of Confederation
US Constitution
Bill of Rights
asserted the rights of the colonies desired
1. One house legislature with 2-7 representatives from each s…
7 articles that detail a workable structure for a federal gov…
First 10 Amendments, adopted to ensure that U.S. citizens wou…
Declaration of Independence
asserted the rights of the colonies desired
Articles of Confederation
1. One house legislature with 2-7 representatives from each s…
20 terms
Business Law 2.15
False
True
True
True
Statutory bodies go through the process of incorporation as s…
A corporation sole is created by the Acts of Parliament but m…
A promoter is defined in TWYCROSS VS GRANT (1877)
A person is prima facie a promoter of the company, if he has…
False
Statutory bodies go through the process of incorporation as s…
True
A corporation sole is created by the Acts of Parliament but m…
21 terms
Business Law 2.14
True
True
False
True
Transactions concluded before the company is incorporated are…
Ratification is the process whereby a registered company acce…
There is no need for a resolution of a company accepting to b…
Companies are managed through meetings and they always come u…
True
Transactions concluded before the company is incorporated are…
True
Ratification is the process whereby a registered company acce…
12 terms
CHS Business Law Ch. 2
ethics
impartiality
business ethics
consequence-based reasoning
Determining what is right or wrong action in a reasoned, impa…
Making decisions that treat everyone the same
Ethical principles used in making business decisions
Ethics that evaluates the results of an action
ethics
Determining what is right or wrong action in a reasoned, impa…
impartiality
Making decisions that treat everyone the same
68 terms
Business Law Unit 2 - Contract Law
Acceptance
Benefits
Bilateral
Capacity
Unqualified willingness by the offeree to go along with the o…
Something that a party was not previously entitled to receive
Contains two promises
Legal ability to enter into a contract
Acceptance
Unqualified willingness by the offeree to go along with the o…
Benefits
Something that a party was not previously entitled to receive
10 terms
Business Law--Chapter 2
Bill of Rights
Double jeopardy
Filibuster
Impeachment
The first ten amendments to the U.S. Constitution
Being tried twice for the same crime
When a Senator keeps talking until a majority of the Senate e…
Trying a government official for misconduct in office
Bill of Rights
The first ten amendments to the U.S. Constitution
Double jeopardy
Being tried twice for the same crime
45 terms
Business Law 2.01
Acceptance
Benefits
Bilateral
Capacity
Unqualified willingness by the offeree to go along with the o…
Something that a party was not previously entitled to receive
Contains two promises
Legal ability to enter into a contract
Acceptance
Unqualified willingness by the offeree to go along with the o…
Benefits
Something that a party was not previously entitled to receive
24 terms
Business Law- Chapter 2
Amendment
Articles of Confederation
Bill of Rights
Browser
change or alteration
loose form of charter for common government adopted by the th…
first ten amendments to the U.S. Constitution
Internet scanning program
Amendment
change or alteration
Articles of Confederation
loose form of charter for common government adopted by the th…
38 terms
Business Law Chapter 2
Murder
Rape
Prosecutor
Darg Racing
Intentional killing of another person.
Forcing another person to have sex.
Government official who brings a crime to court.
Racing cars.
Murder
Intentional killing of another person.
Rape
Forcing another person to have sex.
25 terms
Business Law 2.7
False
False
False
True
A company is formed by members contributing money towards the…
The law governing companies is the Constitution of the Republ…
A company is an artificial partnership
A private company may have a quorum of two members or more fo…
False
A company is formed by members contributing money towards the…
False
The law governing companies is the Constitution of the Republ…
26 terms
Chapter 2 - Business Law
Jurisdiction
Original Jurisdiction
Appellate Jurisdiction
Limited Jurisdiction
The power and authority given to a court to hear a case and t…
Authority of a court to try a case the first time it is heard
Any party to a suit decided in a federal district court may a…
Local courts that handle minor matters such as misdemeanors a…
Jurisdiction
The power and authority given to a court to hear a case and t…
Original Jurisdiction
Authority of a court to try a case the first time it is heard
20 terms
Business Law Chapter 2
Due process of law
peripheral rights
checks and balances
impeachment proceedings
No person shall be deprived of life, liberty or property; wit…
Those rights not expressly outlined in the Constitution but u…
System created a balance of power among the legislative, judi…
criminal proceedings against a government official for miscon…
Due process of law
No person shall be deprived of life, liberty or property; wit…
peripheral rights
Those rights not expressly outlined in the Constitution but u…
20 terms
Quizlet #2: Business Law
contract
6 components of a legally binding cont…
offer
acceptance
An agreement between two parties that creates an obligation.…
-Offer... -Acceptance... -Consideration... -Legal Purpose... -Competent p…
Promise to do something in exchange for something in return,…
Agreeing to the terms set forth in an offer
contract
An agreement between two parties that creates an obligation.…
6 components of a legally binding cont…
-Offer... -Acceptance... -Consideration... -Legal Purpose... -Competent p…
Business Law Exam 2
Elements of a Contract
Agreement
Consideration
Contractual Capacity
Agreement, Consideration, Lawful object, Contractual Capacity
Requires and offer by the offeror and an acceptance by the of…
bargained-for consideration that is legally sufficient
parties to a contract must have _____. Certain parties do not…
Elements of a Contract
Agreement, Consideration, Lawful object, Contractual Capacity
Agreement
Requires and offer by the offeror and an acceptance by the of…
13 terms
Business Law & Ethics - Chapter 2
Ethics
Business Ethics
Consequence-based reasoning
The Good
Deciding what is right or wrong in a reasoned, impartial mann…
The ethical principles used in making business decisions.
Recognizes that lying usually produces bad consequences.
The primary goal toward which human life should be directed.
Ethics
Deciding what is right or wrong in a reasoned, impartial mann…
Business Ethics
The ethical principles used in making business decisions.
21 terms
BUSINESS LAW unit 2
lawsuit
assure
provision
participant
proces sądowy, pozew
Zapewniać, gwarantować
postanowienie w umowie
uczestnik
lawsuit
proces sądowy, pozew
assure
Zapewniać, gwarantować
31 terms
Business Law Ch. 2
alternative dispute resolution
American Arbitration Association
arbitration
arbitration clause
the resolution of disputes in ways other than those involved…
the major organization offering arbitration services in the U…
the settling of a dispute by submitting it to a disinterested…
A clause in a contract that provides that in the event of a d…
alternative dispute resolution
the resolution of disputes in ways other than those involved…
American Arbitration Association
the major organization offering arbitration services in the U…
45 terms
Business Law 2.01 Contracts
Acceptance
Benefits
Bilateral
Capacity
Unqualified willingness by the offeree to go along with the o…
Something that a party was not previously entitled to receive
Contains two promises
Legal ability to enter into a contract
Acceptance
Unqualified willingness by the offeree to go along with the o…
Benefits
Something that a party was not previously entitled to receive
45 terms
Business Law 2.01 Contracts
Acceptance
Benefits
Bilateral
Capacity
Unqualified willingness by the offeree to go along with the o…
Something that a party was not previously entitled to receive
Contains two promises
Legal ability to enter into a contract
Acceptance
Unqualified willingness by the offeree to go along with the o…
Benefits
Something that a party was not previously entitled to receive
149 terms
Business Law | Exam 2
Tort (141)
Negligence (141)
Due Care (142)
Omission (142)
A civil wrong, other than a breach of contract, for which the…
Unintentional but legally careless conduct.
The wrongdoer owed a duty to the injured party.
The failure to act.
Tort (141)
A civil wrong, other than a breach of contract, for which the…
Negligence (141)
Unintentional but legally careless conduct.
25 terms
business law 1-2
constitutional law
constitution
levels of government
the laws at each level
when constitutions are adopted or amended, or when courts int…
a document that sets forth the framework of a government and…
1. federal... 2. state... 3. local
1. constitutions... 2. administrative regulations... 3. statutes... 4.…
constitutional law
when constitutions are adopted or amended, or when courts int…
constitution
a document that sets forth the framework of a government and…
53 terms
Test #2 Business Law
Objective Theory of Contracts
Common Law = Case Law is for which typ…
Statutory Law - UCC is for which type…
Gift = Gratuity
A theory under which the intent to form a contract will be ju…
for contracts involving: services, real estate, employment, a…
for contracts involving the sale of goods.
Not legally enforceable because is one-sided
Objective Theory of Contracts
A theory under which the intent to form a contract will be ju…
Common Law = Case Law is for which typ…
for contracts involving: services, real estate, employment, a…
79 terms
Business Law - Exam 2
Intentional torts
Intent required for intentional torts
Unintentional torts
Strict liability
requires intent by defendant. The intent is to do the act whi…
Requires the defendant to intend to do the act that caused th…
Strictly fault-based - no intent required. Defendant's failur…
Liability without fault. If the defendant commits a certain a…
Intentional torts
requires intent by defendant. The intent is to do the act whi…
Intent required for intentional torts
Requires the defendant to intend to do the act that caused th…
17 terms
Business Law Chapter 2
Amendment
Articles of Confederation
Bill of Rights
Browser
Change or alteration
loose form of charter for common government adopted by the th…
first ten amendments to the U.S. constitution
Internet scanning program
Amendment
Change or alteration
Articles of Confederation
loose form of charter for common government adopted by the th…
29 terms
Business Law Test 2
International Law
How many state members does the United…
The international court of justice con…
Treaty
deals with the conduct and relations between nation-states an…
193 member states
has 15 judges no two of whom may be from the same sovereign s…
an agreement between or among independent nations
International Law
deals with the conduct and relations between nation-states an…
How many state members does the United…
193 member states
Business Law Exam 2
CHAPTER 48
What kinds of property are protected a…
What are the 2 kinds of property?
Real Property
...
The property that we own, both kinds, real and personal, have…
Real and Personal
Land and anything attached to it; oil, trees, structures, phy…
CHAPTER 48
...
What kinds of property are protected a…
The property that we own, both kinds, real and personal, have…
24 terms
Business Law- Chapter 2
Amendment
Articles of Confederation
Bill of Rights
Browser
change or alteration
loose form of charter for common government adopted by the th…
first ten amendments to the U.S. Constitution
Internet scanning program
Amendment
change or alteration
Articles of Confederation
loose form of charter for common government adopted by the th…
101 terms
Business Law Exam #2
Tort
Strict Liability
Negligence
Proximate Cause
A civil wrong, other than a breach of contract, for which the…
Any good sold that has a defect that causes injury leads to t…
The failure to do something that a reasonable person, guided…
Limits liability to consequences that bear a reasonable relat…
Tort
A civil wrong, other than a breach of contract, for which the…
Strict Liability
Any good sold that has a defect that causes injury leads to t…
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