Study sets matching "business law chapter 6"

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Study sets matching "business law chapter 6"

Business Law Chapter 6
Contracts
Offeror
Offeree
Consideration
agreement between two parties that creates an obligation
party who makes an offer to form a contract
party to whom an offer is made
what a person demands and generally must receive in order to…
Contracts
agreement between two parties that creates an obligation
Offeror
party who makes an offer to form a contract
29 terms
Business Law--Chapter 6
Assumption of the Risk
Reasonable-Person Standard
Interference with Contractual Relations
Punitive Damages
A defense to negligence based on the plaintiff knowingly subj…
A general duty imposed by negligence law that requires that w…
A third party's enticing or encouraging a breach of contract,…
Added damages intended to punish and make an example of the d…
Assumption of the Risk
A defense to negligence based on the plaintiff knowingly subj…
Reasonable-Person Standard
A general duty imposed by negligence law that requires that w…
36 terms
Business Law: Chapter 6
Bilateral contract
Contract(s)
Option
Unilateral contract
Offers that require the offeree to accept by communicating th…
All economic activity is based upon legally enforceable agree…
..., A right which is given for consideration to a party (opt…
A contract in which performance alone is acceptance
Bilateral contract
Offers that require the offeree to accept by communicating th…
Contract(s)
All economic activity is based upon legally enforceable agree…
Business Law Chapter 6
contracts
offeror
offeree
offer
agreement between two parties that creates an obligation
party who makes an offer to form a contract
party to whom an offer is made
proposal by an offeror to do something, provided the offeree…
contracts
agreement between two parties that creates an obligation
offeror
party who makes an offer to form a contract
15 terms
Business Law ~ Chapter 6 Terms
Acceptance
Bilateral contract
Capacity
Contract
in contracts, occurs when a party to whom an offer has been m…
offeree can accept offer by giving a promise to the offeror i…
ability to understand
agreement between two parties that creates an obligation
Acceptance
in contracts, occurs when a party to whom an offer has been m…
Bilateral contract
offeree can accept offer by giving a promise to the offeror i…
Business Law Chapter 6
Offer
Executory Contract
Offeror
Consideration
proposal by offeror to do something, provided the offeree doe…
contract that has not been fully performed
the party who communicates a serious, definite offer
what the promisor demands and generally must receive in order…
Offer
proposal by offeror to do something, provided the offeree doe…
Executory Contract
contract that has not been fully performed
Business Law - Chapter 6
Administrative Agency
Legislative Branch
Executive Branch
Judicial Branch
Government body responsible for the public interest
Consist of elected representatives who pass laws that represe…
Ensures that enacted legislation is enforced
Determines if there has been violations of the law
Administrative Agency
Government body responsible for the public interest
Legislative Branch
Consist of elected representatives who pass laws that represe…
49 terms
Business Law Chapter 6
Two notions that are the basis of tort
Tort law
Compensatory damages
Special damages
wrongs and compensation
compensates those who have suffered a loss or an injury due t…
Are intended to compensate or reimburse a plaintiff for actua…
Compensate the plaintiff for quantifiable monetary losses, su…
Two notions that are the basis of tort
wrongs and compensation
Tort law
compensates those who have suffered a loss or an injury due t…
39 terms
Business Law Chapter 6
actionable
actual malice
assault
assumption of risk
capable of serving as a basis for a lawsuit
a condition that exists when a person makes a statement with…
any word or action intended to make another person fearful of…
a defense against negligence that can be used when the plaint…
actionable
capable of serving as a basis for a lawsuit
actual malice
a condition that exists when a person makes a statement with…
8 terms
Business Law--Chapter 6
bilateral
capacity
communicated or received
mailed or out of the control of the of…
A contract that contains two promises, one by the offeror and…
Minors do NOT have the _______________ to make legally enforc…
The revocation of an offer becomes effective when it is _____…
If an acceptance is made by letter, it becomes effective when…
bilateral
A contract that contains two promises, one by the offeror and…
capacity
Minors do NOT have the _______________ to make legally enforc…
12 terms
Business Law Chapter 6 Vocabulary
Contract
Offeror
Offeree
Offer
Agreements between two or more parties that create obligations.
A person who makes an offer.
A person to whom an offer is made.
Proposal by an offeror to do something, provided the offeree…
Contract
Agreements between two or more parties that create obligations.
Offeror
A person who makes an offer.
Business Law-Chapter 6 (Contracts)
contracts
offeror
offeree
agreement
agreements between two or more people that create legal oblig…
the person who makes an offer
the person to whom a contract is made
legal situation that is composed of an offer and acceptance
contracts
agreements between two or more people that create legal oblig…
offeror
the person who makes an offer
Business Law: Chapter 6
torts
purpose of tort law
compensatory damages
special damages
law that compensates those who have suffered a loss or injury…
to provide remedies for violation of various protected rights…
to compensate or reimburse the plaintiff for actual losses
compensate for quantifiable monetary losses
torts
law that compensates those who have suffered a loss or injury…
purpose of tort law
to provide remedies for violation of various protected rights…
27 terms
Business Law Chapter 6
actionable
actual malice
appropriation
assult
capable of serving as the basis of a lawsuit
a condition that exists when a person makes a statement with…
the use by one person of another person's name, likeness or o…
any word or action intended to make another person fearful of…
actionable
capable of serving as the basis of a lawsuit
actual malice
a condition that exists when a person makes a statement with…
27 terms
Business Law Chapter 6
What does our Constitution do?
What are our three branches of governm…
Our Constitution is made up of the pre…
What article created the legislative b…
It creates a plan for allocating regulatory powers to both fe…
Legislative, Executive and Judicial
Seven
Article I. It established a Congress with two houses: senate…
What does our Constitution do?
It creates a plan for allocating regulatory powers to both fe…
What are our three branches of governm…
Legislative, Executive and Judicial
19 terms
Business Law Chapter 6
1.Which of the following are stakehold…
2.Which of the following is true under…
3.What are some examples of purpose in…
4. Which of the following is a part of…
E. All the above
E. None of the above are true.
E. Freedom, security and efficiency
A. Public disclosure
1.Which of the following are stakehold…
E. All the above
2.Which of the following is true under…
E. None of the above are true.
40 terms
Chapter 6 Business Law
A tort is a violation of a duty impose…
The first amendment guarantee of freed…
Public officials and public figures re…
Opinion is generally a valid defense i…
True
False
True
True
A tort is a violation of a duty impose…
True
The first amendment guarantee of freed…
False
12 terms
Chapter 6 terms Business Law
Contracts
Offeror
Offeree
Consideration
Agreements between two or more parties that create obligations.
The person who makes the offer.
The person to whom the offer is made for.
What a person demands and generally must receive in order to…
Contracts
Agreements between two or more parties that create obligations.
Offeror
The person who makes the offer.
7 terms
Business Law Chapter 6 Transferring and Ending Contracts
Discharge by Performance
Discharge by Agreement
Involuntary Discharge
Discharge by Impossibility of Performa…
A contract is ended by a series of properly and completely ca…
People can end a contract by mutual agreement
A discharge despite what the parties intend or what actually do
Can be allowed in case of death or illness that prevents the…
Discharge by Performance
A contract is ended by a series of properly and completely ca…
Discharge by Agreement
People can end a contract by mutual agreement
12 terms
Business Law Chapter 6 Vocab
Contracts
Offeror
Offeree
Offer
agreement between two parties that creates an obligation
party who makes an offer to form a contract
party to whom an offer is made
proposal by an offeror to do something, provided the offeree…
Contracts
agreement between two parties that creates an obligation
Offeror
party who makes an offer to form a contract
31 terms
Business Law // Chapter 6: Offer and Acceptance
Contract
Offeror
Offeree
6 requirements of a legally enforceabl…
An agreement between 2+ people that creates obligations
Person who makes the offer
Person to whom the offer is made
1) offer & acceptance; 2) genuine assent; 3) legality; 4) con…
Contract
An agreement between 2+ people that creates obligations
Offeror
Person who makes the offer
19 terms
Business Law Chapter 6
__________ law governs the conduct of…
Which of the following laws prohibits…
What is the mission of the World Trade…
__________ is the practice wherein an…
International; comparative
The Foreign Corrupt Practices Act (FCPA)
To facilitate international cooperation in opening markets, a…
Dumping
__________ law governs the conduct of…
International; comparative
Which of the following laws prohibits…
The Foreign Corrupt Practices Act (FCPA)
47 terms
Business Law Chapter 6
Tort
Intentional torts
Negligence and strict liability
Element
a violation of a duty imposed by the civil law
Harm caused by a deliberate action
Injuries caused by neglect and oversight rather than by delib…
A fact that a plaintiff must prove to win a lawsuit
Tort
a violation of a duty imposed by the civil law
Intentional torts
Harm caused by a deliberate action
Business Law Chapter 6
Crime
Beyond a Reasonable Doubt
Actus reus
Mens rea
A wrong against society proclaimed in a statute and, if commi…
The standard of proof used in criminal cases.
A guilty (prohibited) act. The commission of a prohibited act…
The wrongful mental state ("guilty mind"), or intent, that is…
Crime
A wrong against society proclaimed in a statute and, if commi…
Beyond a Reasonable Doubt
The standard of proof used in criminal cases.
Business Law - Chapter 6
Purpose of tort law
Compensatory damages
Punitive damages
Intentional tort
To provide remedies for the violation of various protected in…
Money award equivalent to actual value of injuries or damages…
Money damages that may be awarded to a plaintiff to punish th…
Wrongful act knowingly committed
Purpose of tort law
To provide remedies for the violation of various protected in…
Compensatory damages
Money award equivalent to actual value of injuries or damages…
53 terms
Business Law Chapter 6
Tort Law
Purpose of a tort law
2 Types of Damages
Compensatory Damages
Compensation for wrongs (injury or loss)
Provide remedy for physical and Property Wrongs
Compensatory, Punitive
Reimburse plaintiff for actual loss
Tort Law
Compensation for wrongs (injury or loss)
Purpose of a tort law
Provide remedy for physical and Property Wrongs
15 terms
Business Law Chapter 6
Acceptance
Bilateral Contract
Contract
Counteroffer
occurs when a party to whom an offer has been made agrees to…
offeree can accept offer by giving a promise to the offeror i…
agreement between two parties that creates an obligation
offeree's response to an offer which modifies it
Acceptance
occurs when a party to whom an offer has been made agrees to…
Bilateral Contract
offeree can accept offer by giving a promise to the offeror i…
35 terms
Business Law I Chapter 6 Vocabulary
tort
intentional tort
negligence
strict liability
A violation of a duty imposed by the civil law.
A civil wrong resulting from an intentional act on the part o…
Injuries caused by neglect and oversight rather than by delib…
A tort doctrine holding those who engage in ultrahazardous ac…
tort
A violation of a duty imposed by the civil law.
intentional tort
A civil wrong resulting from an intentional act on the part o…
39 terms
Business Law Chapter 6
actionable
actual malice
assault
assumption of risk
capable of serving as the basis of a lawsuit
a condition that exists when a person makes a statement with…
any word or action intended to make another person fearful of…
a defense against negligence that can be used when the plaint…
actionable
capable of serving as the basis of a lawsuit
actual malice
a condition that exists when a person makes a statement with…
17 terms
Business and Personal Law - Chapter 6
Substantial Performance
Tender
Discharge by Agreement
Substituted
a situation in which a party has, in good faith, completed a…
an offer to do what you have agreed to do under a contract
people can end a contract by mutual agreement
Something that takes the place of another; a replacement; a c…
Substantial Performance
a situation in which a party has, in good faith, completed a…
Tender
an offer to do what you have agreed to do under a contract
76 terms
Chapter 6. Business Law. Miller
Crime
Preponderance of evidence
Beyond a reasonable doubt
Criminal Liability
A wrong against society proclaimed in a statue and, if commit…
Convince the court that, based on the evidence presented by b…
the standard of proof used in criminal cases. Prosecutor must…
Two elements must exist simultaneously for a person to be con…
Crime
A wrong against society proclaimed in a statue and, if commit…
Preponderance of evidence
Convince the court that, based on the evidence presented by b…
16 terms
Business Law: Chapter 6
offer
invitation to treat
standard form contract
offeror
a promise to perform specified acts on certain terms
an expression of willingness to do business
a "take it or leave it" contract, where the customer agrees t…
the person who makes an offer
offer
a promise to perform specified acts on certain terms
invitation to treat
an expression of willingness to do business
41 terms
Business Law- Chapter 6: Tort Law
Tort
Intentional Tort
Negligent Tort
Strict Liability Tort
A violation of another person's rights or a civil wrongdoing…
A civil wrong resulting from an intentional act committed on…
A civil wrong that occurs when the defendant acts in a way th…
A civil wrong that occurs when the defendant takes an action…
Tort
A violation of another person's rights or a civil wrongdoing…
Intentional Tort
A civil wrong resulting from an intentional act committed on…
Chapter 6 Business Law
Nature of Crimes
Actus reus
Mens rea
Felony
any act or omission forbidden by public law
wrongful or overt act
criminal intent or mental fault
serious crime
Nature of Crimes
any act or omission forbidden by public law
Actus reus
wrongful or overt act
Business Law Chapter 6
adjudication
contractual capacity*
disaffirmance*
minor*
an order of court or a decree rendered after a judicial hearing
the necessity that the parties desiring to enter into contrac…
the repudiation of, or election to avoid, a voidable contract
those persons under legal age... by most states (but not all), t…
adjudication
an order of court or a decree rendered after a judicial hearing
contractual capacity*
the necessity that the parties desiring to enter into contrac…
Business Law Chapter 6
Contracts
Offeror
Offeree
Genuine Assent
Agreement that creates an obligation
Party who makes an offer
Party to whom the offer is made
Agreement that is evidenced by words or conduct between two p…
Contracts
Agreement that creates an obligation
Offeror
Party who makes an offer
27 terms
Business law chapter 6
Tort
Tort Law
The purpose of Tort Law
Compensatory damages
wrongs and compensation ( a civil wrong not arising from a br…
designed to compensate those who have suffered a loss or inju…
to provide remedies for the invasion of various protected int…
intended to compensate or reimburse plantiff for actual losse…
Tort
wrongs and compensation ( a civil wrong not arising from a br…
Tort Law
designed to compensate those who have suffered a loss or inju…
21 terms
Business Law Chapter 6
commercial speech
contract clause
defamation
due process clause
speech that has a business-oriented purpose. This speech is p…
The constitutional provision that prohibits states from enact…
the publication of anything injurious to the good name or rep…
a provision found in the Fifth and Fourteenth Amendments of t…
commercial speech
speech that has a business-oriented purpose. This speech is p…
contract clause
The constitutional provision that prohibits states from enact…
49 terms
Business Law I Chapter 6 Other
True
The New Orleans States-Item newspaper…
Mr. Collin, the author of the restaura…
Sharon Yeagle was assistant to the Vic…
True or False? Opinion is generally a valid defense in a defa…
What were the facts that led to the case of Mashburn v. Colli…
Who won the case of Mashburn v. Collins, and why?
What were the facts that led to the case of Yeagle v. Collegi…
True
True or False? Opinion is generally a valid defense in a defa…
The New Orleans States-Item newspaper…
What were the facts that led to the case of Mashburn v. Colli…
35 terms
Business Law Chapter 6
Tort
Vicarious liability
Basic idea of tort law
Types of damages
a french word for "wrong", means a civil wrong for which the…
makes an employer liable for the torts of the employee
to compensate a person injured by another person for the inju…
compensatory (out of pocket), consequential (special), genera…
Tort
a french word for "wrong", means a civil wrong for which the…
Vicarious liability
makes an employer liable for the torts of the employee
Business Law Chapter 6
Tort
Tortfeasor
Respondeat Superior
Duty
A private wrong that injures another person's physical well-b…
A person who commits a tort and has thus engaged in "twisted"…
Holds a business or organization liable for the torts of an e…
An obligation placed on individuals because of the law.
Tort
A private wrong that injures another person's physical well-b…
Tortfeasor
A person who commits a tort and has thus engaged in "twisted"…
Business Law Chapter 6
tort
compensatory damages
special damages
general damages
wrongs and compensation. It is designed to compensate those w…
compensate or reimburse the plaintiff for actual losses
compensate the plaintiff for quantifiable monetary losses
compensate individuals (not companies) for the nonmonetary as…
tort
wrongs and compensation. It is designed to compensate those w…
compensatory damages
compensate or reimburse the plaintiff for actual losses
Business Law: Chapter 6
Offeror
offeree
consideration
revocation
the person who makes the offer
the person to whom the offer is made
what the promiser demands and must receive before his/her pro…
withing an offer before it is accepted
Offeror
the person who makes the offer
offeree
the person to whom the offer is made
27 terms
Business Law Chapter 6
Nature of Crimes
Actus Reus
Mens Rea
Felony
Any act or omission forbidden by public law
Wrongful or overt act
Criminal intent or mental fault
A serious crime (classification of crime)
Nature of Crimes
Any act or omission forbidden by public law
Actus Reus
Wrongful or overt act
12 terms
Business Law Chapter 6
Assumption of the risk
Breach of Duty
Comparative Negligence
Contributory Negligence
A person who voluntarily enters a situation of obvious danger…
A defendant breaches his duty of due care by failing to behav…
A plaintiff may generally recover even if she is partially re…
A plaintiff who is even slightly negligent recovers nothing.
Assumption of the risk
A person who voluntarily enters a situation of obvious danger…
Breach of Duty
A defendant breaches his duty of due care by failing to behav…
38 terms
Business Law Chapter 6
Actionable
Actual malice
Assault
Assumption of risk
Capable of serving as the basis of a lawsuit.
A condition that exists when a person makes a statement with…
Any word or action intended to make another person fearful of…
A defense against negligence that can be used when the plaint…
Actionable
Capable of serving as the basis of a lawsuit.
Actual malice
A condition that exists when a person makes a statement with…
Business law chapter 6
Tort
Intentional torts
Assault
Battery
Private or civil wrong for which the law grants a remedy
Tort in which the defendant means to commit the injurious act
Intentional threat to physically or offensively injure another
Harmful or offensive touching
Tort
Private or civil wrong for which the law grants a remedy
Intentional torts
Tort in which the defendant means to commit the injurious act
62 terms
Business Law Chapter 6
there are no Federal common law crimes
the wrongful or overt act (actus reus)…
called actus reus... physical elements of…
called mens reus (mental fault)... mental…
Why are all Federal crimes statutory?
What are the 2 elements of a crime?
the nonmental elements of a crime
the mental element of a crime
there are no Federal common law crimes
Why are all Federal crimes statutory?
the wrongful or overt act (actus reus)…
What are the 2 elements of a crime?
16 terms
Business Law Chapter 6
crime
Beyond a Reasonable Doubt
Actus Reus
Mens Rea
wrong against society proclaimed in a statue and if committed…
standard of proof used in criminal cases
a guilty act
mental state or intent
crime
wrong against society proclaimed in a statue and if committed…
Beyond a Reasonable Doubt
standard of proof used in criminal cases
Business Law Chapter 6
Federal administrative agencies
cabinet-level federal departments
Powers of administrative agencies
Judicial review of administrative agen…
are created by the U.S. CONGRESS
answer directly to the president. Advise the president and ar…
rule making, granting licenses, judicial authority, executive…
enabling statute does not provide for review, and the APA aut…
Federal administrative agencies
are created by the U.S. CONGRESS
cabinet-level federal departments
answer directly to the president. Advise the president and ar…
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