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Study sets matching "business law chapter 9"

8 terms
Business Law - Chapter 9
Fraud
Puffing
Misrepresentation
Mistake
Intentional misstatement or nondisclosure
Mere expression of opinion
Unintentional misstatement or nondisclosure of a material fact
Belief not in accord with facts
Fraud
Intentional misstatement or nondisclosure
Puffing
Mere expression of opinion
27 terms
Business Law Chapter 9
Promise
Promisor
Promisee
Contract
A declaration that binds a person who makes it (the promisor)…
A person who makes a promise.
A person to whom a promise is made.
A set of promises constituting an agreement between parties,…
Promise
A declaration that binds a person who makes it (the promisor)…
Promisor
A person who makes a promise.
12 terms
Business Law: Chapter 9
cookie
cloud computing
cyber tort
cybersquatting
small text file (up to 4KB) created by a Web site that is sto…
the delivery to users of on demand services from third-party…
a tort committed via internet
the act of registering a domain name that is the same as, or…
cookie
small text file (up to 4KB) created by a Web site that is sto…
cloud computing
the delivery to users of on demand services from third-party…
22 terms
Business Law Chapter 9
Negligence
4 Things to Prove in a Negligence Case
Duty
Breach of Duty
Behavior that creates an unreasonable risk of harm to others,…
1. Duty... 2. Breach of duty... 3. Causation... 4. Damages
The first thing a plaintiff must establish to win a negligenc…
The second thing a plaintiff must establish to win a negligen…
Negligence
Behavior that creates an unreasonable risk of harm to others,…
4 Things to Prove in a Negligence Case
1. Duty... 2. Breach of duty... 3. Causation... 4. Damages
9 terms
Business Law Chapter 9 Legality
Conspiracy
Interest
Urury
Lottery
Agreement to commit a crime for a promised consideration. P 186
The fee a borrower pays to the lender for using the money. P…
Charging more than the maximum legal interest rate. P189
A game that consists of drawing lots, typically tickets with…
Conspiracy
Agreement to commit a crime for a promised consideration. P 186
Interest
The fee a borrower pays to the lender for using the money. P…
34 terms
Business Law: Chapter 9
Contract: Definition
About Contracts
Offeror
Offeree
A promise or set of promises for the breach of which the law…
*Voluntarily entered into by parties.... *Terms of the contract…
Party who makes an offer to enter into a contract.
Party to whom the offer is made.
Contract: Definition
A promise or set of promises for the breach of which the law…
About Contracts
*Voluntarily entered into by parties.... *Terms of the contract…
18 terms
Business Law Chapter 9
Contract
Functions of Contracts
Freedom of Contract
Elements of a Contract
A promise or set of promises that is legally enforceable
To facilitate the planning that is necessary in a modern, ind…
The idea that contracts should be enforced because they are t…
Offer, acceptance, consideration, capacity, and legal.
Contract
A promise or set of promises that is legally enforceable
Functions of Contracts
To facilitate the planning that is necessary in a modern, ind…
27 terms
Business Law Chapter 9
1. The Restatement of the Law Second,…
2. Only the offeree to whom an offer i…
3. There are a limited number of circu…
4. If an acceptance is received after…
true
true
true
false
1. The Restatement of the Law Second,…
true
2. Only the offeree to whom an offer i…
true
31 terms
Business Law Chapter 9
Capacity
Capacity Issues
Minors
Contracts For Necessities
...
a.... b.... c.
1.... 2.
...
Capacity
...
Capacity Issues
a.... b.... c.
70 terms
Business Law Chapter 9
False
False
True
False
As long as a contract is personal in nature, all rights under…
An insurance policy is an example of a right that can be assi…
An assignment of rights in real estate often cannot be prohib…
A right can be assigned even if the assignment will significa…
False
As long as a contract is personal in nature, all rights under…
False
An insurance policy is an example of a right that can be assi…
9 terms
Business Law Chapter 9 Legality
Conspiracy
Interest
Urury
Lottery
Agreement to commit a crime for a promised consideration. P 186
The fee a borrower pays to the lender for using the money. P…
Charging more than the maximum legal interest rate. P189
A game that consists of drawing lots, typically tickets with…
Conspiracy
Agreement to commit a crime for a promised consideration. P 186
Interest
The fee a borrower pays to the lender for using the money. P…
12 terms
Business Law Chapter 9
cookie
cloud computing
cyber tort
cybersquatting
invisible files to track web browsing activities
the delivery to users of on-demand servies from third-party s…
a tort committed via the internet
registering a confusingly similar or the same domain name as…
cookie
invisible files to track web browsing activities
cloud computing
the delivery to users of on-demand servies from third-party s…
14 terms
Business Law Chapter 9
Which of the following is not an essen…
When courts attempt to determine wheth…
___________ is also known as "cause in…
In typical negligence cases, courts ra…
Intent to cause harm
Does the defendant in the subject litigation have a prior cri…
___________ is also known as "cause in fact," while _________…
Exemplary
Which of the following is not an essen…
Intent to cause harm
When courts attempt to determine wheth…
Does the defendant in the subject litigation have a prior cri…
10 terms
Business Law Chapter 9
contractual capacity
age of majority to contract
minority
necessaries
the ability to understand the consequences of a contract; to…
the age at which a person is entitled to the management of hi…
the state of being below the age of majority
things needed to maintain life
contractual capacity
the ability to understand the consequences of a contract; to…
age of majority to contract
the age at which a person is entitled to the management of hi…
Business Law Chapter 9
Actus Reus
Arson
Beyond a Reasonable Doubt
Botnet
...
...
...
...
Actus Reus
...
Arson
...
11 terms
Business Law - Chapter 9 Vocab Terms
contractual capacity
age of majority to contract
minority
necessaries
the ability to understand the consequences of a contract; to…
the age at which a person is entitled to the management of hi…
the state of being below the age of majority
things needed to maintain life
contractual capacity
the ability to understand the consequences of a contract; to…
age of majority to contract
the age at which a person is entitled to the management of hi…
17 terms
Business Law Chapter 9
Some contracts such as illegal contrac…
contract
Offeror
Offeree
...
an agreement that is enforceable by a court of law or equity
is the party who makes an offer to enter into a contract... pro…
is the party to whom the is offer is made.... has the power to…
Some contracts such as illegal contrac…
...
contract
an agreement that is enforceable by a court of law or equity
12 terms
Business Law Chapter 9
SPAM
US safe Web act attempts to
Federal CAN-SPAM Act
Domain Names
unsolicited junk email, ads, solicitations, etc.
limit SPAM and helps and protects internet service providers…
Aimed at limiting online pornography and commercial SPAM
an internet address, consisting of a "top level domain" to th…
SPAM
unsolicited junk email, ads, solicitations, etc.
US safe Web act attempts to
limit SPAM and helps and protects internet service providers…
Business Law Chapter 9
Definition of Contract
Common Law
Uniform Commercial Code
Sale
A binding agreement that the court will enforce
"most contracts are governed primarily by State common law, i…
Article 2 of the UCC governs the sales of goods
The transfer of title from seller to buyer
Definition of Contract
A binding agreement that the court will enforce
Common Law
"most contracts are governed primarily by State common law, i…
46 terms
Business Law Chapter 9
Crime
Burden of proof
Beyond a reasonable doubt
Felonies
Defined as a wrong against society proclaimed in a statute an…
The state (as plaintiff) must prove that the crime was commit…
State must prove this.
Serious Crimes punishable by death or imprisonment for more t…
Crime
Defined as a wrong against society proclaimed in a statute an…
Burden of proof
The state (as plaintiff) must prove that the crime was commit…
34 terms
Business Law Chapter 9: Criminal Law
Wrongs against society
Maximum sentence for capital felonies
Maximum sentence for first degree felo…
Maximum sentence for second degree fel…
Crimes
Death or life in prison without parole
up to 30 years or life in prison
up to 15 years in prison.... $10,000
Wrongs against society
Crimes
Maximum sentence for capital felonies
Death or life in prison without parole
19 terms
Business Law Chapter 9
Gift
Donor
Donee
Consideration
Voluntary transfer of ownership without consideration
Person giving a gift
Person receiving a gift
That which is given or received in a contract
Gift
Voluntary transfer of ownership without consideration
Donor
Person giving a gift
8 terms
Business Law Chapter 9
Fraud
Puffing
Misrepresentation
Mistake
The intentional misstatement or nondisclosure of a material f…
A general expression of opinion, typically in a sales, contex…
A misstatement of a material fact that results in inducing an…
A belief that is not in accord with the facts
Fraud
The intentional misstatement or nondisclosure of a material f…
Puffing
A general expression of opinion, typically in a sales, contex…
15 terms
Business Law Chapter 9
Agreement
Offer
Revocation
Option Contract
When parties agree on the terms of the contract
Promise or commitment to perform or refrain from performing s…
Offeror's act of withdrawing (revoking) and offer
When an offeror promises to hold an offer open for a specifie…
Agreement
When parties agree on the terms of the contract
Offer
Promise or commitment to perform or refrain from performing s…
20 terms
Business Law Chapter 9
absolute privilege
contract interference
contributory negligence
intentional tort
complete defense against the tort of defamation, as in the sp…
tort in which a third party interferes with others' freedom t…
negligence of the plaintiff that contributes to injury and at…
civil wrong that results from intentional conduct.
absolute privilege
complete defense against the tort of defamation, as in the sp…
contract interference
tort in which a third party interferes with others' freedom t…
52 terms
Chapter 9 Business Law
Contract
Objective Theory of Contracts
Requirements for a valid contract
Defenses
a promise or agreeing to do something
A parties intention to enter in a binding agreement is judged…
agreement (offer and acceptance) ... consideration ( must be sup…
voluntary consent ... form ... bilateral contracts ( promise for a…
Contract
a promise or agreeing to do something
Objective Theory of Contracts
A parties intention to enter in a binding agreement is judged…
19 terms
Business Law- Chapter 9
Standardized form Contracts
Freedom of Contract
Elements of a contract
Clickwrap contracts
contracts that are preprinted by one party and presented to t…
Idea that contracts should be enforced because they are the p…
Offer, acceptance, consideration, have consideration, parties…
standardized online contracts requiring the viewer to click o…
Standardized form Contracts
contracts that are preprinted by one party and presented to t…
Freedom of Contract
Idea that contracts should be enforced because they are the p…
32 terms
Business Law: Chapter 9
Agreement
Offer
Revocation
Counteroffer
a mutual understanding or meeting of the minds between two or…
promise or commitment to perform or refrain from performing s…
offeror's act of withdrawing an offer
a rejection of the original offer and the simultaneous making…
Agreement
a mutual understanding or meeting of the minds between two or…
Offer
promise or commitment to perform or refrain from performing s…
11 terms
Business Law - Chapter 9 - Capacity
Contractual Capacity
Age of majority to contract
Minor
Minority
the ability to understand the consequences of a contract
the age at which a person is entitled to the management of hi…
a person who has not yet reached the age of majority
the state of being below the age of majority
Contractual Capacity
the ability to understand the consequences of a contract
Age of majority to contract
the age at which a person is entitled to the management of hi…
22 terms
Business Law Chapter 9
Spam
CAN-SPAM
Safe Web
Domain Names
(blank) is unsolicited "junk" emails with ads, solicitations,…
(Internet Law)... Federal (BLANK-BLANK) Act (2003) Preempts sta…
(Spam)... U.S. (blank blank) Act.... -Provides ISP's with immunity…
An internet address, consisting of:... A "top level domain" to…
Spam
(blank) is unsolicited "junk" emails with ads, solicitations,…
CAN-SPAM
(Internet Law)... Federal (BLANK-BLANK) Act (2003) Preempts sta…
5 terms
Chapter 9 Business Law
Define contract
Elements of a contract
Bilateral & unilateral contracts
Express and implied in fact contract
>A contract is an agreement that is enforceable by a court of…
1. Agreement: there must be an agreement between the parties,…
Bilateral: a contact entered into by way of exchange of promi…
1. Express: stated in oral or written words, most personal an…
Define contract
>A contract is an agreement that is enforceable by a court of…
Elements of a contract
1. Agreement: there must be an agreement between the parties,…
10 terms
Chapter 9 Business Law
Genuineness, or reality, of agreement…
For the injured party to claim fraud,…
If agreement of either party is obtain…
When the misstatement is made knowingl…
true meeting of minds
was made with no knowledge of its falsity or with reckless di…
voidable contract results.
fraud
Genuineness, or reality, of agreement…
true meeting of minds
For the injured party to claim fraud,…
was made with no knowledge of its falsity or with reckless di…
11 terms
Arkansas Business Law Chapter 9
contractual capacity
age of majority to contract
minor
minority
The legal ability to enter into a contract.
Age at which a person can be legally bound to contracts; usua…
Any person under the legally defined age of an adult; usually…
The state of being below the age of majority; ends the day be…
contractual capacity
The legal ability to enter into a contract.
age of majority to contract
Age at which a person can be legally bound to contracts; usua…
16 terms
Business Law Chapter 9
Actual Cause (Cause in Fact)
Assumption of Risk
Compensatory Damages
Contributory Negligence
the determination that the defendant's breach of duty resulte…
A defense that allows the defendant to escape liability by es…
reimbursing damages
A defense that allows the defendant to entirely escape liabil…
Actual Cause (Cause in Fact)
the determination that the defendant's breach of duty resulte…
Assumption of Risk
A defense that allows the defendant to escape liability by es…
21 terms
Business Law Chapter 9
Contractual Capacity
Age of Majority
Minor
Minority
defined by the law to mean the ability to understand the cons…
the age at which a person is entitled to the management of hi…
a person who has not reached the age of majority
the state of being below he age of majority, ends the day bef…
Contractual Capacity
defined by the law to mean the ability to understand the cons…
Age of Majority
the age at which a person is entitled to the management of hi…
11 terms
Business Law Chapter 9
Consideration: elements
Preexisting duty
Past Consideration
Illusory Promises
1. Something of legal sufficiency must be given in exchange…
A promise to do what one already has legal duty to do does no…
Promise made in return for actions or events that have alread…
uncertain promise that the promiser has not definitely promis…
Consideration: elements
1. Something of legal sufficiency must be given in exchange…
Preexisting duty
A promise to do what one already has legal duty to do does no…
16 terms
Business Law Chapter 9
Negligence
Unfortunate Accident
Reasonable Person Standard
Actual Cause
Behavior that creates an unreasonable risk of harm to others.
An accident that simply could not be avoided, even with reaso…
A measurement of the way members of society except an individ…
The determination that the defendant's breach of duty resulte…
Negligence
Behavior that creates an unreasonable risk of harm to others.
Unfortunate Accident
An accident that simply could not be avoided, even with reaso…
38 terms
Business and Personal Law - Chapter 9
lease
lessee
lessor
tenancy
contract between landlord and tenant
the tenant in a lease arrangement
the landlord in a lease arrangement
the interest a tenant has in the real estate they lease
lease
contract between landlord and tenant
lessee
the tenant in a lease arrangement
27 terms
Business Law Chapter 9
Contract
Parties of a contract
Elements of a contract
Agreement
-a promise or set of promises for the breach of which the law…
-offeror: party who makes an offer to enter into a contract... -…
-agreement... -consideration... -lawful object... -contractual capacity
-offer by offeror and acceptance by offeree... -mutual assent
Contract
-a promise or set of promises for the breach of which the law…
Parties of a contract
-offeror: party who makes an offer to enter into a contract... -…
30 terms
Chapter 9 Business Law
tort
intentional tort
negligence
strict liability
civil wrong that interferes with one person's property or per…
civil wrong that results from intentional conduct
failure to exercise due care under the circumstances in conse…
civil wrong for which there is absolute liability because of…
tort
civil wrong that interferes with one person's property or per…
intentional tort
civil wrong that results from intentional conduct
11 terms
Business Law Chapter 9
Contractual capacity
Age of majority to contract
Minor
Minority
Defined by the law to mean the ability to understand the cons…
The age at which a person is entitled to the management of hi…
A person who has not yet reached the age of majority (18, in…
The state of being below the age of majority
Contractual capacity
Defined by the law to mean the ability to understand the cons…
Age of majority to contract
The age at which a person is entitled to the management of hi…
19 terms
Business Law Chapter 9
Gift
Donor
Donee
Consideration
Voluntary transfer of ownership without consideration.
Person giving a gift.
Person receiving the gift.
That which Is given or received in a contract.
Gift
Voluntary transfer of ownership without consideration.
Donor
Person giving a gift.
22 terms
Business Law Chapter 9
Contract
Common Law
Uniform Commercial Code
Mutual Assent
A binding agreement that the courts will enforce
Contracts governed primarily by State common law. Includes co…
Article 2 of the UCC governs the sales of goods. Sale: the tr…
Parties to a contract have to manifest by words or conduct th…
Contract
A binding agreement that the courts will enforce
Common Law
Contracts governed primarily by State common law. Includes co…
20 terms
Chapter 9 Business Law
absolute privilege
contract interference
contributory negligence
defamation
complete defense against the tort of defamation, as in the sp…
tort in which a third party interferes with others' freedom t…
negligence of the plaintiff that contributes to injury and at…
untrue statement by one party about another to a third party.
absolute privilege
complete defense against the tort of defamation, as in the sp…
contract interference
tort in which a third party interferes with others' freedom t…
12 terms
Business Law Chapter 9
Bilateral
Contract
Executed Contract
Executory Contract
A contract where both parties make a promise.
A promise that the law will enforce.
An agreement in which all parties have fulfilled their obliga…
A binding agreement in which one or more of the parties has n…
Bilateral
A contract where both parties make a promise.
Contract
A promise that the law will enforce.
9 terms
Business Law Chapter 9
Consideration
Unilateral
Bilateral
Pre-existing Duty Rule
Something of value given in exchange for something else of va…
Consideration involves the exchange of a promise for an act (…
Consideration involves the exchange of a promise for a promise
A promise to do something you are already legally obligated t…
Consideration
Something of value given in exchange for something else of va…
Unilateral
Consideration involves the exchange of a promise for an act (…
46 terms
Business Law Chapter 9
Acceptance
Agreement
Assignment
Bilateral Contract
the offeree's notification to the offeror that the offeree ag…
a meeting of two or more minds in regard to the terms of a co…
the act of transferring to another all or part of one's right…
a type of contract that arises when a promise is given in exc…
Acceptance
the offeree's notification to the offeror that the offeree ag…
Agreement
a meeting of two or more minds in regard to the terms of a co…
14 terms
Business Law - Chapter 9
Agreement
Requirements of the Offer
Intention
Definiteness
Agreements are a mutual understanding between two or more par…
An offer is a promise to perform or refrain from performing a…
An expression of opinion is not an offer.... A statement of an i…
Certain terms must be included.... Identification of the parties…
Agreement
Agreements are a mutual understanding between two or more par…
Requirements of the Offer
An offer is a promise to perform or refrain from performing a…
Business Law Chapter 9
Assignee
assignment
assignor
breach of contract
A party to whom the rights under a contract are transferred o…
the transfer to another of all or part of one's rights under…
A party who transfers his or her rights under a contract to a…
Failure, without legal excuse, of a promisor to perform the o…
Assignee
A party to whom the rights under a contract are transferred o…
assignment
the transfer to another of all or part of one's rights under…
12 terms
Business Law Chapter 9
Tort
Intentional Tort
Tort Teaser
Assult
actions that are not straight but are crooked, or civil, wrongs
those that occur when wrongdoers engage in intentional conduct.
Person committing the tort must have intent to commit an act.
Unlawful threat or attempt to do bodily injury to another
Tort
actions that are not straight but are crooked, or civil, wrongs
Intentional Tort
those that occur when wrongdoers engage in intentional conduct.
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