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Study sets matching "business law"

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Study sets matching "business law"

31 terms
Business Law Chapter 12
1. Mistakes in contract law result fro…
2. For fraudulent misrepresentation to…
3. A negligent misrepresentation resul…
4. In legal terms nondisclosure involv…
False
True
True
False
1. Mistakes in contract law result fro…
False
2. For fraudulent misrepresentation to…
True
31 terms
Business Law: Tort Law
Tort Law
Intentional Torts
Assault
Battery
a civil non-contractual wrong
first must establish intent: where the party either knew or s…
The intentional placing one in reasonable apprehension of an…
The intentional harmful or offensive touching to plaintiff or…
Tort Law
a civil non-contractual wrong
Intentional Torts
first must establish intent: where the party either knew or s…
20 terms
Business Law 1.01
administrative law
case law
constitution
English Common Law
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
result of custom-based laws being unified by courts in England
administrative law
body of rules created by government regulatory agencies
case law
based on an appealed case ruling, an appellate court sets pre…
82 terms
Law and Ethics: Business Law
Blackstone's definition of law
2 theories of law
natural law theory
Empirical law theory
Law is a rule of civil conduct command what is right and proh…
natural law and empirical law
human nature creates law "do good and avoid evil"
laws change with the times
Blackstone's definition of law
Law is a rule of civil conduct command what is right and proh…
2 theories of law
natural law and empirical law
60 terms
BUSINESS LAW
Merchant Adventurer
Joint Stock Company
Bicameralism
Mercantilism
Total
Limited
Two Houses
Supports business
Merchant Adventurer
Total
Joint Stock Company
Limited
20 terms
Business Law
Carol offered to sell her house to Leo…
The Yaca Cola Company, which manufactu…
Anderson threw a knife at Wilbur, but…
In product liability suits based on a…
Carol made an offer to which Leonard made a counteroffer.
Yaca Cola made an offer for a unilateral contract. In order t…
Even though Anderson had no intent to hit Sue, she can sue hi…
The retailer also prepares and installs those goods.
Carol offered to sell her house to Leo…
Carol made an offer to which Leonard made a counteroffer.
The Yaca Cola Company, which manufactu…
Yaca Cola made an offer for a unilateral contract. In order t…
50 terms
Business Law
True
False
True
False
The purpose of tort law is to provide remedies when legally p…
To commit an intentional tort, one person must intend to harm…
An individual's right to privacy includes the exclusive use o…
Normally, fraud occurs only when there is reliance on a state…
True
The purpose of tort law is to provide remedies when legally p…
False
To commit an intentional tort, one person must intend to harm…
50 terms
Business Law
Legal systems
sales
property laws
agency
Organized sets of legal principles that form the basis of law…
The exchange of a commodity for money; the action of selling…
wills, planning laws, real estate purchases
a business established to provide a particular service, typic…
Legal systems
Organized sets of legal principles that form the basis of law…
sales
The exchange of a commodity for money; the action of selling…
28 terms
Business Law-Torts (5)
tort
damages
negligence
intentional torts
A civil wrong committed against a person or propery
A sum of money paid in compensation for loss or injury in a c…
An unintentional violation of a legal duty to use a standard…
1. Deliberate, voluntary Intentional conduct by one person th…
tort
A civil wrong committed against a person or propery
damages
A sum of money paid in compensation for loss or injury in a c…
560 terms
Business Law Midterm Guide
The stability and predictability of th…
Law is a body of enforceable rules gov…
A breach of a contract is a failure to…
Constitutional law includes only the U…
TRUE
TRUE
TRUE
FALSE
The stability and predictability of th…
TRUE
Law is a body of enforceable rules gov…
TRUE
36 terms
Business Law
Law
Sources of Law in U.S.
Common Law
Stare Decisis
the system of rules that a particular country or community re…
The primary sources of law in the United States are the Unite…
the part of English law that is derived from custom and judic…
the legal principle of determining points in litigation accor…
Law
the system of rules that a particular country or community re…
Sources of Law in U.S.
The primary sources of law in the United States are the Unite…
456 terms
Business Law
The U.S. Supreme Court:
The original trial of a court case is…
In a typical jury trial:
Federal district courts:
Has appellate jurisdiction in cases based on the U.S. Constit…
Trial courts.
The jury is selected before opening statements are made.
Hear all criminal cases involving a violation of federal law.
The U.S. Supreme Court:
Has appellate jurisdiction in cases based on the U.S. Constit…
The original trial of a court case is…
Trial courts.
23 terms
Business Law Chapter 13
1. A purpose of the statute of frauds…
2.Which of the following is a type of…
3.Which of the following is a type of…
4. Which of the following is true rega…
B. Oral
A. Contracts whose terms prevent possible performance within…
E. Contracts related to an interest in land and promises made…
E. All the above are true.
1. A purpose of the statute of frauds…
B. Oral
2.Which of the following is a type of…
A. Contracts whose terms prevent possible performance within…
200 terms
Business Law 1
Law
Reformation
Undue influence
Crime
A code of civil conduct commanding what is right and prohibit…
Judicial correction of a contract
Manipulation resulting from a relationship between a perpetra…
An act that causes injury to society
Law
A code of civil conduct commanding what is right and prohibit…
Reformation
Judicial correction of a contract
17 terms
Business Law
Constitutional
Statute
Ordinance
Crimes
Laws found in the Constitution
Laws created by federal or state legislators and are formally…
Laws created by local governments
An offense against society
Constitutional
Laws found in the Constitution
Statute
Laws created by federal or state legislators and are formally…
109 terms
Business law
1. Ambiguity in an insurance contrac
Procedural unconscionability
Bilateral
Unilateral
• Resolved against insurance co. (adhesion contract)
describes conditions that impair one party's understanding of…
A promise in exchange for a promise
A promise in exchange for an action... • Offeree can accept a un…
1. Ambiguity in an insurance contrac
• Resolved against insurance co. (adhesion contract)
Procedural unconscionability
describes conditions that impair one party's understanding of…
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
146 terms
business law
a shareholder
agreement
amendment
an acquisition
osakkeenomistaja
sopimus
lakimuutos
hankinta
a shareholder
osakkeenomistaja
agreement
sopimus
7 terms
Business law
Misrepresentation
Contractual defects
Contract
Adequate consideration
Occurs when a false statement is made of an existing fact whi…
...
A legally binding promise or obligation. 3 requirements: inte…
...
Misrepresentation
Occurs when a false statement is made of an existing fact whi…
Contractual defects
...
15 terms
Business Law
Ethics
Law
Business Law
Public Law
Rules used to determine the difference between right and wrong
Rule of conduct enforced by controlling authority, provides o…
Enforceable rules of conduct that govern commercial relations…
Involves disputers between private individuals or groups and…
Ethics
Rules used to determine the difference between right and wrong
Law
Rule of conduct enforced by controlling authority, provides o…
187 terms
Business Law
What is the judge called for the Outer…
The supreme court acts as a(an) ______…
In a civil procedure, the pursuer...
List the hierarchy of Scottish Crimina…
Lord Ordinary
Appeal
calls witnesses and examines them
1) High Court of Justiciary (the court of last resort for cri…
What is the judge called for the Outer…
Lord Ordinary
The supreme court acts as a(an) ______…
Appeal
27 terms
Business Law
Statutory Law
Judicial Review
Discovery
Arraignment
Law passed by the U.S. Congress or state legislatures
Review by a court of law of actions of a government official…
A phase in the litigation process during which the opposing p…
A hearing in which a suspect is charged and pleads guilty or…
Statutory Law
Law passed by the U.S. Congress or state legislatures
Judicial Review
Review by a court of law of actions of a government official…
25 terms
Business Law // Chapter 22: Employment Law
Employment
Employer
Employee
Independent contractor
A legal relationship based on a contract that calls for one i…
The party who pays someone in order to direct and control tha…
The party who is paid by the employer to serve under their di…
Someone who agrees to produce a specific work product without…
Employment
A legal relationship based on a contract that calls for one i…
Employer
The party who pays someone in order to direct and control tha…
63 terms
Business Law
Objective Theory of Contracts
Elements of Valid Contract
Categories of Contracts
Quasi Contract
party word or conduct are held to mean what reasonable person…
1. Agreement... 2. Consideration... 3. Contractual Capacity... 4. Lega…
1. Formation ... 2. Performance... 3. Enforceability
fictional contract imposed on parties by a court to avoid unj…
Objective Theory of Contracts
party word or conduct are held to mean what reasonable person…
Elements of Valid Contract
1. Agreement... 2. Consideration... 3. Contractual Capacity... 4. Lega…
49 terms
Business law
Law
Primary sources of law
Secondary source of law
Constitutional Law
A body of enforceable rules governing relationships among ind…
A document that establishes the law on a particular issue, su…
A publication that summarizes or interprets the law, such as…
The body of law derived from the U.S. Constitution and the co…
Law
A body of enforceable rules governing relationships among ind…
Primary sources of law
A document that establishes the law on a particular issue, su…
7 terms
Business Law
conference committee
overriding a veto
pocket veto
primary source of law
a temporary or ad-hoc committee consisting of members of both…
occurs when the president vetoes a bill passed by Congress, a…
when a bill is forwarded to the president for his or her sign…
a statement of law from a governmental entity
conference committee
a temporary or ad-hoc committee consisting of members of both…
overriding a veto
occurs when the president vetoes a bill passed by Congress, a…
63 terms
Business Law
Plaintiff
Defendant
stare decisis
common law
The party who begins a lawsuit by filing a complaint in the a…
The party against whom the lawsuit is brought and from whom r…
the practice of relying on previous decisions in which simila…
The body of recorded decisions that courts refer to and rely…
Plaintiff
The party who begins a lawsuit by filing a complaint in the a…
Defendant
The party against whom the lawsuit is brought and from whom r…
Business law
Judicial pronouncmwnt
Substantive Law
Procedural Law
Tort
Legal statements made by courts
Laws that regulate and control the rights and duties of perso…
Laws that establish the process by which litigation is conduc…
A wrong committed by one person against another or against an…
Judicial pronouncmwnt
Legal statements made by courts
Substantive Law
Laws that regulate and control the rights and duties of perso…
46 terms
Business Law
John Smith
England's colonial policy
The Acts of Trade
May of 1687 after a 16-week voyage
rose as a leader in the colony and had a new rule no work=no…
main cause for the desire for the colonists to be free from E…
made trading with anyone but England illegal
Jamestown established
John Smith
rose as a leader in the colony and had a new rule no work=no…
England's colonial policy
main cause for the desire for the colonists to be free from E…
45 terms
Business Law
Court
Jurisdiction
Subject matter jurisdiction
Original jurisdiction
A tribunal established by the government to hear and decide m…
The power of a court to hear and determine a given class of c…
Judicial authority to hear a particular type of case.
The authority to hear a controversy when it is first brought…
Court
A tribunal established by the government to hear and decide m…
Jurisdiction
The power of a court to hear and determine a given class of c…
52 terms
Business Law
Bilateral Contract
Unilateral Contract
Valid
Void
a promise for a promise
a promise for an act
a contract that has the necessary elements
no contract, or a contract without legal obligation
Bilateral Contract
a promise for a promise
Unilateral Contract
a promise for an act
76 terms
Business Law
law
right
duty
right of privacy
the order or pattern of rules that society establishes to gov…
legal capacity to require another person to perform or refrai…
an obligation of law imposed on a person to perform or refrai…
the right to be free from unreasonable intrusion by others.
law
the order or pattern of rules that society establishes to gov…
right
legal capacity to require another person to perform or refrai…
41 terms
Business Law
Sources of business law
Common law
Precedent
Natural law
Constitutions, statutes, cases, treaties, administrative law,…
Case law, legal interpretations made by judges. Stare decisis…
What has been decided on similar cases before
Certain ethical laws and principals that are morally right an…
Sources of business law
Constitutions, statutes, cases, treaties, administrative law,…
Common law
Case law, legal interpretations made by judges. Stare decisis…
125 terms
Business Law
laws
code
stages in the growth of law
sovereign
enforceable rules of conduct in society
organized laws
1. Individuals take revenge for wrongs done to them, 2. award…
hears and resolves disputes of the people
laws
enforceable rules of conduct in society
code
organized laws
22 terms
Business Law
Deed vs Title
General Warranty
Special Warranty
Quick Claim Warranty
Title is ownership.... Deed is a piece of paper that explains yo…
acts as a guarantee to the buyer that the seller has the righ…
differing from a Warranty Deed, the seller's guarantee does n…
Most often used by family members, divorcing spouses, and peo…
Deed vs Title
Title is ownership.... Deed is a piece of paper that explains yo…
General Warranty
acts as a guarantee to the buyer that the seller has the righ…
22 terms
Business Law
Law is
Prohibitory
Mandatory
Permissive
Prohibitory, mandatory, and permissive
Certain acts must not be committed
Certain acts must be done, sometimes in a set way
Certain acts are allowed, but not required by law
Law is
Prohibitory, mandatory, and permissive
Prohibitory
Certain acts must not be committed
17 terms
Business Law
Laws
Code
Jurisdiction
Equity
enforceable rules of conduct in a society and reflects the cu…
laws grouped into an organized form
Power of a court to decide a case
basic fairness
Laws
enforceable rules of conduct in a society and reflects the cu…
Code
laws grouped into an organized form
33 terms
Business law
Law
Natural school of law ( Aristotle)
Positivist school (Thomas Hobbes)
Legal realists (justice Oliver Wendell…
A body of laws that can be enforced
moral, ethics, disobey law if it's immoral.
No supreme being, don't disobey law, society decides laws
Every case is different
Law
A body of laws that can be enforced
Natural school of law ( Aristotle)
moral, ethics, disobey law if it's immoral.
25 terms
Business Law
second stage
torts
ethics
rule based reasoning
Substitution of damages for revenge is what stage of the evol…
These are private wrongs committed against individuals
There are three important aspects of this aspect of law
The idea that acts have a basic moral character is a feature…
second stage
Substitution of damages for revenge is what stage of the evol…
torts
These are private wrongs committed against individuals
68 terms
Business Law
Law
Statutes
Regulations
Enabling act
body of enforceable rules to govern society
law created by a legislative body
laws created by administrative agencies
agencies get power from congress
Law
body of enforceable rules to govern society
Statutes
law created by a legislative body
20 terms
Business Law
Administrative Law
Case Law
Constitution
English Common Law
Body of rules created by governments regulatory agencies
Based on an appealed case ruling and appellate court sets pre…
Principles by which its government operates.
Result of custom-based laws being unified by courts in England.
Administrative Law
Body of rules created by governments regulatory agencies
Case Law
Based on an appealed case ruling and appellate court sets pre…
Business Law
Law consists of____ that regulate cond…
It is intended to protect___ and their…
The law forbids persons from engaging…
A body of rules of action or conduct p…
Rules
People,Property
Undesirable
Authority, Legal Force (Power)
Law consists of____ that regulate cond…
Rules
It is intended to protect___ and their…
People,Property
12 terms
Business Law
Negligence
4 things to prove for negligence action
Duty
Breach
Occurs when someone suffers injury because of anothers failur…
1. Duty 2. Breach 3. Causation 4. Damages
That the defendant owed a duty of care to the plaintiff
That the defendant breached that duty
Negligence
Occurs when someone suffers injury because of anothers failur…
4 things to prove for negligence action
1. Duty 2. Breach 3. Causation 4. Damages
54 terms
Business Law
petitioner
quasi
preclude
defendant
the party initiating the law suit (the one filing the complai…
sort of, kind of, as if, seemingly, in sense
prevent, to make impossible, to shut out
the party being seed or accused, responding to the accuse
petitioner
the party initiating the law suit (the one filing the complai…
quasi
sort of, kind of, as if, seemingly, in sense
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.
109 terms
Business Law
offer, acceptance, consideration, writ…
bilateral contract
unilateral contract
void contract
The six elements of a contract.
promise for promise
promise for act
"dead", not enforceable, illegal contract.
offer, acceptance, consideration, writ…
The six elements of a contract.
bilateral contract
promise for promise
18 terms
law in business
capital market
recession
gross/net domestic product (GDP/NDP)
demand
rynek kapitałowy
recesja
produkt krajowy brutto/netto
popyt
capital market
rynek kapitałowy
recession
recesja
38 terms
Business Law
Uniform Commercial Code (Mixture of Go…
Types of Contracts (by Enforceability)…
Types of Contracts (by Enforceability)…
Types of Contracts (by Enforceability)…
Promoting fair dealing and higher standards of behavior in th…
Meets all legal requirements
Meets the basic legal requirements for a contract but will no…
may be canceled by one or both of the parties
Uniform Commercial Code (Mixture of Go…
Promoting fair dealing and higher standards of behavior in th…
Types of Contracts (by Enforceability)…
Meets all legal requirements
36 terms
Business Law
Larceny
Recieving Stolen Property
False Pretenses
Extortion
Wrongful taking of $ to someone else, with intent to deprive…
Purchase or acceptance of property you know to believe was ob…
When someone misrepresents a fact in order to acquire someone…
Obtaining $ or other property from a person by wrongful use o…
Larceny
Wrongful taking of $ to someone else, with intent to deprive…
Recieving Stolen Property
Purchase or acceptance of property you know to believe was ob…
115 terms
Business Law
Common Law
Administrative Law
Constitutional Law
Judicial Law
customs which have become recognized by the courts as binding…
the area of law dealing with the legislature creating statute…
the laws creating the formation of the government, authorizin…
laws created by judges making decisions in court cases
Common Law
customs which have become recognized by the courts as binding…
Administrative Law
the area of law dealing with the legislature creating statute…
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