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Study sets matching "business law"

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Study sets matching "business law"

32 terms
Business Law
Statute
Precedent
Civil Law
Criminal Law
Specific law for a specific purpose.
Court case ruling that is followed in future cases.
Person vs person
Act against society.
Statute
Specific law for a specific purpose.
Precedent
Court case ruling that is followed in future cases.
37 terms
Business Law
Business Law
Plaintiff
Defendant
Stare Decisis
A series of definitions of legal terms
The party that begins a lawsuit by filing a complaint in the…
The party against who the lawsuit is brought and recoveries a…
The practice of relying on previous decisions in which simila…
Business Law
A series of definitions of legal terms
Plaintiff
The party that begins a lawsuit by filing a complaint in the…
Business Law
Administrative Law
Common Law
Constitutional Law
Judicial Law
the area of law dealing with the legislature creating statute…
customs which have become recognized by the courts as binding…
the laws creating the formation of the government, authorizin…
laws created by judges making decisions in court cases
Administrative Law
the area of law dealing with the legislature creating statute…
Common Law
customs which have become recognized by the courts as binding…
42 terms
Business Law Vocabulary Practice
Morality
Ethics
Justice
Law
Involves the values that govern a group's ideas about right a…
referes to the rules used to determine the difference between…
treating people fairly and equaly
a system of rules of conduct established by a country's gover…
Morality
Involves the values that govern a group's ideas about right a…
Ethics
referes to the rules used to determine the difference between…
77 terms
Business and the Law
Vigilantes
Common Law
Precedent
Statute Law
Members of society that take enforcement of law into their ow…
Laws made by judges.
Where previous decisions are applied by judges in similar cas…
Laws developed and passed by parliament
Vigilantes
Members of society that take enforcement of law into their ow…
Common Law
Laws made by judges.
56 terms
Business - Business Law
Federal Trade Commission Act
Sherman Antitrust Act
Clayton Antitrust Act
Robinson Patman Act
1914 - Established the FTC that would investigate and prevent…
1890 - A law that made it illegal to create monopolies or tru…
This act was enacted in 1914, and it reinforces and broadens…
Passed in 1936, it aims to prevent businesses from selling th…
Federal Trade Commission Act
1914 - Established the FTC that would investigate and prevent…
Sherman Antitrust Act
1890 - A law that made it illegal to create monopolies or tru…
31 terms
Business Law
Americans with Disabilities Act
compensatory damages
embezzelment
breach of contract
requires employers provide reasonable accommodations to allow…
what a court orders the wrongdoer to pay a victim for his los…
A form of white-collar crime where a person misappropriates t…
a violation of any of the agreed-upon terms and conditions of…
Americans with Disabilities Act
requires employers provide reasonable accommodations to allow…
compensatory damages
what a court orders the wrongdoer to pay a victim for his los…
37 terms
Business Law
Law
Civil Law
Criminal Law
Litigation
Rule of conduct enforced by controlling authority
Non-governmental corporation or individual files the lawsuit…
Litigation filed by the government.
Lawsuit
Law
Rule of conduct enforced by controlling authority
Civil Law
Non-governmental corporation or individual files the lawsuit…
64 terms
Business Law
Equal Protection
Substantive
Procedural
Free Exercise Clause
The government must treat similarly situated individuals (or…
Focuses on the content or the legislation (the right itself)…
Any government decision to take life, liberty or property mus…
Guarantees that a person can hold & practice any (or no) reli…
Equal Protection
The government must treat similarly situated individuals (or…
Substantive
Focuses on the content or the legislation (the right itself)…
98 terms
Business Law
1.1 Terms
Administrative Law
Case Law
Constitution
...
body of rules created by government regulatory agencies
based on an appealed case ruling, an appellate court sets pre…
principles by which its government operates
1.1 Terms
...
Administrative Law
body of rules created by government regulatory agencies
101 terms
Business Law
Test On Chapter
Original
Constitutional Law
Statutory Law
2,3,4,5 LOOK up
...
Lay out the powers and organization of the government. Each s…
Laws enacted by legislatures; local, state, and the federal g…
Test On Chapter
2,3,4,5 LOOK up
Original
...
13 terms
Business Law Chapter 1
Laws
Code
4
Civil Law
Enforceable rules of conduct for a society
Groups of laws in an organized form
Number of stages a society goes through when forming a legal…
Legal system where laws set down by a central authority to pr…
Laws
Enforceable rules of conduct for a society
Code
Groups of laws in an organized form
40 terms
Business Law - Chapter 4
crime
vicarious criminal liability
felony
misdemeanor
punishable offense against society
criminal intent of one (such as an employee) is used to subst…
a crime punishable by confinement for more than a year in a s…
a less serious crime punishable by confinement in a country o…
crime
punishable offense against society
vicarious criminal liability
criminal intent of one (such as an employee) is used to subst…
154 terms
Final Business Law Exam
Primary sources of law
Purposes of Law
2 documents which are founding princip…
What are some secondary sources of law
1.) U.S and state constitutions... 2.) Statutory Law- including…
-Governs relations between people... -Consistency, Predictabilit…
-Declaration of Independence... -Preamble to the U.S Constitution
books and articles that summarize and clarify the primary sou…
Primary sources of law
1.) U.S and state constitutions... 2.) Statutory Law- including…
Purposes of Law
-Governs relations between people... -Consistency, Predictabilit…
582 terms
business law
agency
agent
principal
independent contractor
relationship that exists between a person identified as a pri…
person or firm who is authorized by the principal or by opera…
person or firm who employs an agent; person who, with respect…
contractor who undertakes to perform a specified task accordi…
agency
relationship that exists between a person identified as a pri…
agent
person or firm who is authorized by the principal or by opera…
119 terms
Business law
Substantial performance constitutes a…
Which of the following is true about t…
Pat Painter contracts to paint Harry H…
A minor breach is most directly associ…
True
They can be covered for tortious conduct in connection with a…
$800
substantial performance
Substantial performance constitutes a…
True
Which of the following is true about t…
They can be covered for tortious conduct in connection with a…
42 terms
Business Law - Civil Law
Duty
Violation of Duty
Causation
Injury
A legal obligation to do or not to do something
Breach of the duty
Proof that the breach caused the injury
A harm (damages) that is recognized by the law
Duty
A legal obligation to do or not to do something
Violation of Duty
Breach of the duty
17 terms
Business Law - Chapter 17
Contract for Sale
Existing Goods
Future Goods
Contract to Sell
A legally enforceable agreement
Goods owned by the seller
These goods do not exist at the time of the sales transaction
An agreement to sell future goods
Contract for Sale
A legally enforceable agreement
Existing Goods
Goods owned by the seller
13 terms
Business Law - Chapter 18
Warranty
Express Warranty
Implied Warranty
Custom of the Marketplace
Guarantee or promise made by the manufacturer or seller that…
Specifically states promise
A guarantee suggested or inferred from facts
What a warranty usually mans in similar transaction
Warranty
Guarantee or promise made by the manufacturer or seller that…
Express Warranty
Specifically states promise
10 terms
Business Law - Chapter 14
Third Party Beneficiary
Incidental Beneficiary
Assignment
Assignor
Person who has a legal right to the benefits of a contract
One who benefits as an indirect consequence of a contract
The transfer of a contract to a third party
Person who transfers his or her rights in an assignment
Third Party Beneficiary
Person who has a legal right to the benefits of a contract
Incidental Beneficiary
One who benefits as an indirect consequence of a contract
11 terms
Business Law - Chapter 10
Forbearance
Promisor
Promisee
Pledge
Promise to refrain from doing something
Party who makes the promise
The party who the promise is made to
A promise to donate money
Forbearance
Promise to refrain from doing something
Promisor
Party who makes the promise
56 terms
Business Law Mid-Term
Sherman Antitrust Act
Clayton Act
Robinson-Patman Act
Fair Competition
A federal statute prohibiting combinations and contracts in r…
A federal law that prohibits price discrimination.
A federal stature designed to eliminate price discrimination…
Competition based on the factors of price, quality, and servi…
Sherman Antitrust Act
A federal statute prohibiting combinations and contracts in r…
Clayton Act
A federal law that prohibits price discrimination.
34 terms
Business Law - Chapter 1
laws
code
sovereign
common law
enforceable rules of conduct in a society
laws grouped into an organized form
powerful leader or authority
law based on the current standards or customs of the people
laws
enforceable rules of conduct in a society
code
laws grouped into an organized form
38 terms
Business Law Ch3
tort
tortfeasor
elements of a tort
intentional tort
private wrong committed by one person against another
a person who commits a tort
possession of certain rights by innocent part; violation of r…
actions that deliberately hurt, embarrass, or scare
tort
private wrong committed by one person against another
tortfeasor
a person who commits a tort
17 terms
Business Law - Chapter 20
Sole Proprietorship
Unlimited Liability
Partnership
Winding-up Period
Owned/Operated by one person
Owner of a business is liable for debts
Owned/Operated by two or more people
An orderly liquidation of partnership assets is present
Sole Proprietorship
Owned/Operated by one person
Unlimited Liability
Owner of a business is liable for debts
23 terms
Business Law
Decline, explaining you don't have time
Tell her you did it
Illegal
False-even if you make the right choic…
A classmate says he will pay you to finish a report for him,…
You accidentally put a dent in the door of your mom's car wha…
John takes supplies home from work
You will never have negative consequences if you make an ethi…
Decline, explaining you don't have time
A classmate says he will pay you to finish a report for him,…
Tell her you did it
You accidentally put a dent in the door of your mom's car wha…
42 terms
Business Law
Primary Sources
Civil Law
Criminal Law
Plaintiff
Documents where the laws themselves are contained, such as a…
Enforcement of disputes among private individuals, and busine…
Wrongs committed against society, Burden of proof beyond a re…
Party initiating the suit
Primary Sources
Documents where the laws themselves are contained, such as a…
Civil Law
Enforcement of disputes among private individuals, and busine…
109 terms
Business Law
Murder 1
A Preponderance of Evidence
Malum in Se
Malum Prohibition
1. You need an Act. 2. Intent - serious bodily harm or death.…
The necessity of over 50% of evidence to win. If it is 50/50,…
laws that have always been considered wrong (murder or steali…
A legislative body has given laws to prevent this certain con…
Murder 1
1. You need an Act. 2. Intent - serious bodily harm or death.…
A Preponderance of Evidence
The necessity of over 50% of evidence to win. If it is 50/50,…
8 terms
Business Law - Chapter 13
Parol Evidence Rule
Statute of Frauds
Executor
Administrator
The rule that spoken or written words cannot be introduced as…
Requires certain contracts to be in writing
Representative named in a will who is responsible to take car…
Representative who administers the estate of the deceased per…
Parol Evidence Rule
The rule that spoken or written words cannot be introduced as…
Statute of Frauds
Requires certain contracts to be in writing
23 terms
Business Law
Offer ... Acceptance... Consideration... Legali…
Duty of Due Care... Breach ... Factual Cause…
Real Property
Personal Property
Elements of a contract
Elements of Negligence
land, together with certain things associated with it, such a…
all property other than real property
Offer ... Acceptance... Consideration... Legali…
Elements of a contract
Duty of Due Care... Breach ... Factual Cause…
Elements of Negligence
22 terms
Business Law Chapter 7
Felony
Misdemeanor
Burden of Proof
What is the burden of proof in a crimi…
an offense punishable by a year or more in jail (two years in…
an offense punishable by less than a year in jail (two years…
a standard that a party must meet to prevail in the case.
Beyond a reasonable doubt.
Felony
an offense punishable by a year or more in jail (two years in…
Misdemeanor
an offense punishable by less than a year in jail (two years…
16 terms
Business Law - Chapter 19
Agent
Principle
Contract of Agency
General Agent
The person who represents another
The person the agent represents
An agreement between a principal and an agent
A person authorized to assume complete charge of his or her p…
Agent
The person who represents another
Principle
The person the agent represents
14 terms
Business Law Chapter 7
valid
genuine assent
voidable
recission
legally binding and enforceable
true and complete agreement
injured party can cancel or avoid the contractual obligation
get back whatever has already been put into the contract
valid
legally binding and enforceable
genuine assent
true and complete agreement
70 terms
Business Law
A system of moral and ethical principl…
Case law is often referred to as:
The United States Code (U.S.C.) arrang…
The party against whom an appeal is ta…
Natural law.
Judge-made law
Broad subject.
Appellee.
A system of moral and ethical principl…
Natural law.
Case law is often referred to as:
Judge-made law
35 terms
Business Law-Ch 5
tort
damages
duty
Intentional tort
a private wrong or injury
monetary award to compensate for the loss caused by a tort
something that MUST be done or there will be consequences
a private wrong in which the defendant means to commit the in…
tort
a private wrong or injury
damages
monetary award to compensate for the loss caused by a tort
24 terms
Business Law - Chapter 7
Contract
Tangible Personal Property
Offer
Offeror
Legally enforceable agreement
Personal property that can be moved
Proposal indicating a willingness to enter into a contract
Person making a proposal
Contract
Legally enforceable agreement
Tangible Personal Property
Personal property that can be moved
14 terms
Business Law Chapter 5
a valid contract
an offer
a void contract
a contract
A contract that is legally binding and fully enforceable is k…
A proposal made by one party that he or she is willing to ent…
A contract that has no legal effect is known as _____________…
Any agreement that is enforceable by law is known as ________…
a valid contract
A contract that is legally binding and fully enforceable is k…
an offer
A proposal made by one party that he or she is willing to ent…
12 terms
Business Law
Flow Chart
2. Is the valid K enforceable?... a . Vi…
3. Affirmative Defenses
Remedy
1. Do we have a valid K?... a. Meets essential elements of K... b…
a. Statute Of Fraud- ... 1. Any K for the sale or purchase of re…
1. Mistake of fact... a. Unilateral mistake of fact only one pe…
1. Recession- Must be able to return all of the consideration…
Flow Chart
1. Do we have a valid K?... a. Meets essential elements of K... b…
2. Is the valid K enforceable?... a . Vi…
a. Statute Of Fraud- ... 1. Any K for the sale or purchase of re…
15 terms
Business Law-Chapter 1
Stare Decisis
Procedural Law
Laws
Common Law
Doctrine that requires lower courts to follow existing case l…
Group of laws that define the methods for enforcing legal rig…
Enforceable rules of conduct in a society.
Law based on current standards or customs of the people.
Stare Decisis
Doctrine that requires lower courts to follow existing case l…
Procedural Law
Group of laws that define the methods for enforcing legal rig…
15 terms
Business Law - Chapter 12
Blue Laws
Sunday Agreement
Gambling Agreement
Interest
Laws that regulate activities on Sundays and legal holidays
A contract made on a Sunday
Performance by one party depends on the occurrence of an unce…
Charge for the use of borrowed money
Blue Laws
Laws that regulate activities on Sundays and legal holidays
Sunday Agreement
A contract made on a Sunday
153 terms
Business Law Test 1
What is Law?
What is Law intended for?
Definition of Law
Functions of Law
Law consists of rules that regulate the conduct of individual…
To protect persons and their property against unwanted interf…
a body of rules of action or conduct prescribed by controllin…
1- Keeping the peace... 2- Shaping moral standards... 3- promoting…
What is Law?
Law consists of rules that regulate the conduct of individual…
What is Law intended for?
To protect persons and their property against unwanted interf…
15 terms
Business Law - Chapter 15
Substantial Performance
Tender of Performance
Tender of Goods
Tender of Payment
When the party executes all of the promised terms and conditi…
An offer to perform
An offer to provide the goods agreed upon
A money offer of payment of an obligation
Substantial Performance
When the party executes all of the promised terms and conditi…
Tender of Performance
An offer to perform
33 terms
Business Law-Ch 8
consideration
gift
donor
donee
what is exchanged in a contract
transfer of ownership without receiving anything in return
person giving a gift
person receiving a gift
consideration
what is exchanged in a contract
gift
transfer of ownership without receiving anything in return
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…
29 terms
Business Law- Chapter 1
Administrative agency
Business ethics
Business law
Case law
governmental body formed to carry out particular laws
ethical principles used in making business decisions
group of laws that governs business situations and transactions
made when an appellate court endorses a rule to be used in de…
Administrative agency
governmental body formed to carry out particular laws
Business ethics
ethical principles used in making business decisions
15 terms
Business Law - Chapter 16
Title
Bill of Sale
Bill of Lading
Straight Bill of Lading
Ownership
Written statement that seller is passing ownership to the buyer
Receipt for goods to be made
A nonnegotiable receipt for goods to be shipped
Title
Ownership
Bill of Sale
Written statement that seller is passing ownership to the buyer
24 terms
Business Law Chapter 3
Assault
Intentional Infliction of Emotional Di…
Slander
False Imprisonment
Unlawful touching of another person.
When someone causes great emotional distress due to extreme a…
Verbal or spoken lies.
Violation of your right to move around.
Assault
Unlawful touching of another person.
Intentional Infliction of Emotional Di…
When someone causes great emotional distress due to extreme a…
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…
32 terms
Business Law - Chapter 5
Procedural Defenses
Substantive Defenses
Misdemeanor
Felony
A defense based on problems with the way evidence is obtained…
A defense created to disprove, justify, or excuse the alleged…
A less serious crime punishable by confinement in jail for le…
A serious crime punishable by imprisonment for more than one…
Procedural Defenses
A defense based on problems with the way evidence is obtained…
Substantive Defenses
A defense created to disprove, justify, or excuse the alleged…
31 terms
Business Law: Family Law
custody
legal custody
physical custody
Court of Queen's Bench (Family Division)
legal term referring to all the rights and duties related to…
the right to make all important decisions about a child's car…
the right to everyday physical care and control of a child
A unified family court that hears all family matters througho…
custody
legal term referring to all the rights and duties related to…
legal custody
the right to make all important decisions about a child's car…
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