Study sets matching "business law"

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Study sets matching "business law"

120 terms
Business Law: Contracts Final
Basic Elements of a Contract
Bilateral
Unilateral
Valid Contract
offer, acceptance, consideration, capacity, legal
both parties make a promise... ex) pay rent in exchange for a le…
a promise for an act... ex) reward for finding a lost dog
meets legal requirements for a binding contract and are enfor…
Basic Elements of a Contract
offer, acceptance, consideration, capacity, legal
Bilateral
both parties make a promise... ex) pay rent in exchange for a le…
22 terms
Business Law Chapter 4
Contract
Offer
Acceptance
Mirror Image Rule
any agreement enforceable by law
proposal by one party to another party to enter into a contract
unqualified willingness to go along with an offer
the terms stated in the acceptance must match the terms of th…
Contract
any agreement enforceable by law
Offer
proposal by one party to another party to enter into a contract
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
26 terms
Business Law - Contracts
Contract
Capacity
Consideration
Legality
Any agreement enforceable by law... Can be oral or written, imp…
Presumes anyone entering into a legal contract has the mental…
Things of value promised to one party in exchange for somethi…
Parties are not contractually obligated to fulfill contracts…
Contract
Any agreement enforceable by law... Can be oral or written, imp…
Capacity
Presumes anyone entering into a legal contract has the mental…
31 terms
Business Law Chapter 11
1. A minor who chooses to disaffirm a…
2. As a general rule, parents are not…
3. If a person's mental deficiencies h…
4. A contract of an intoxicated person…
false
true
true
true
1. A minor who chooses to disaffirm a…
false
2. As a general rule, parents are not…
true
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
Business law
Administrative law
Case law
Constitution
English common law
Body of rules creared by government regulatory agencies
Based on an appealed case ruling, an appellate court sets pre…
Principles be which its government operates
Result of custom-based laws being unified by courts in England
Administrative law
Body of rules creared by government regulatory agencies
Case law
Based on an appealed case ruling, an appellate court sets pre…
56 terms
Business law
act
breach of contract
citation
civil law
legislation passed by congress, also referred to as a statute
when one party to a contract fails to do what he or she agree…
the location where a case can be found
relies more on legislation than judicial decisions for law. f…
act
legislation passed by congress, also referred to as a statute
breach of contract
when one party to a contract fails to do what he or she agree…
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
26 terms
Business Law
Consideration
Unilateral Contract
Bilateral Contract
Void
Parties must have this to be considered a contract
formed by an offer on one side for an act to be done on the o…
contract in which the promise of one of the parties forms the…
Contract is null, not binding on either party and is not susc…
Consideration
Parties must have this to be considered a contract
Unilateral Contract
formed by an offer on one side for an act to be done on the o…
Business Law
agreement
option contract
revocation
plain meaning rule
simply defined as an offer + acceptance
created when an offerer promises to hold an offer open for a…
when the offeror withdraws an offer prior to acceptance
when the contact's writing is clear and unequivocal, a court…
agreement
simply defined as an offer + acceptance
option contract
created when an offerer promises to hold an offer open for a…
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…
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
Business Law
Motion for Summary Judgment
E-Evidence
Motion for a Directed Verdict
Question of Law
The motion requesting the court to enter a judgment without p…
Type of evidence that consists of all computer-generated or e…
A motion for the judge to take the decision out of the hands…
In a lawsuit, an issue involving the application or interpret…
Motion for Summary Judgment
The motion requesting the court to enter a judgment without p…
E-Evidence
Type of evidence that consists of all computer-generated or e…
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…
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…
73 terms
Business Law
• Case Law (common law)
• Civil law
• Constitutional law
• Criminal Law
the collection of legal interpretations made by judges. They…
the body of laws that oversee the rights and responsibilities…
the general limits and powers of a government as interpreted…
A classification of law involving the rights and responsibili…
• Case Law (common law)
the collection of legal interpretations made by judges. They…
• Civil law
the body of laws that oversee the rights and responsibilities…
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
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…
100 terms
Business law review
Common law
Empathy
Laws
England
The laws of the United States are virtually all based on
The heart of the golden rule
Rules of conduct established by the government to maintain st…
Common law originated in
Common law
The laws of the United States are virtually all based on
Empathy
The heart of the golden rule
39 terms
Business Law
contract
covenant not to compete contracts
elements of a contract
the offer and acceptance together cons…
a promise or set or promises fr the breach of which the law g…
restrict what an employee may do after leaving a company. oft…
1. the agreement... 2. the consideration... 3. contractual capacity…
agreement
contract
a promise or set or promises fr the breach of which the law g…
covenant not to compete contracts
restrict what an employee may do after leaving a company. oft…
102 terms
Business Law
Laws
Code
Common Law
Positive Law
Enforceable rules of conduct in a society
Organization of laws
Law based on the current standards or customs of a people
Law dictated from above (king/dictator)
Laws
Enforceable rules of conduct in a society
Code
Organization of laws
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…
17 terms
Business law
Jurisdiction
Appelate court
Alternative dispute resolution
Arrest
A courts power to hear a case and to make a judgement
A court that hears appeals and reviews cases from the lower c…
Occurs when parties try to resolve disagreements outside of t…
When a person is legally deprived of his or her freedom
Jurisdiction
A courts power to hear a case and to make a judgement
Appelate court
A court that hears appeals and reviews cases from the lower c…
Business Law
Special Forms
Implied in Fact
Resolution of Disputes
Arbitration
Deeds, Promissory Notes
Conduct of parties establish a contract
Litigation, Arbitration, Mediation
Makes decision in a dispute
Special Forms
Deeds, Promissory Notes
Implied in Fact
Conduct of parties establish a contract
Business Law - Chapter 11
Competent Party
Contractual Capacity
Minor
Age of Majority
A person capable of understanding the meaning of a contract
Ability to make a valid contract
Person who has not yet reached the age of majority
Legally recognized as an adult
Competent Party
A person capable of understanding the meaning of a contract
Contractual Capacity
Ability to make a valid contract
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…
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
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
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…
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
141 terms
Business Law
Sole Proprietorship
Franchise
Distributorship
Chain-Style Business Operation
the owner is the business and the owner is held personally li…
A business established or operated under an authorization to…
a type of franchising arrangement in which the franchisor mak…
a franchise operates under a franchisor's trade name and is i…
Sole Proprietorship
the owner is the business and the owner is held personally li…
Franchise
A business established or operated under an authorization to…
45 terms
Business Law
Ethics
Statue
Case law
Procedural
What is deciding what is right or wrong in an impartial manner
What law is enacted on a star or federal level by a legislature
What law is enacted by judicial branch
What type of law enforced legal rights
Ethics
What is deciding what is right or wrong in an impartial manner
Statue
What law is enacted on a star or federal level by a legislature
405 terms
business law
Congress can only pass legislation tha…
The U.S. Constitution is the supreme l…
Each state has its own constitution.
Every state has adopted some or all of…
True
True
True
True
Congress can only pass legislation tha…
True
The U.S. Constitution is the supreme l…
True
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
Business Law
Employment Law
Employee at Will
Employee for a Term
Statute
Covers the relationship between employer and employee
New York State; employees can be fired for any reason, no pro…
Employee is hired for a fixed period of time (baseball manager)
A written law passed by a body of legislature
Employment Law
Covers the relationship between employer and employee
Employee at Will
New York State; employees can be fired for any reason, no pro…
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
92 terms
Business Law
Battery
Intent
Affirmative and Volitional act
Assault
* An affirmative and volitional act.... *With intent to cause a…
*Not intending the consequence, but intending the action that…
*Affirmative - an act that actually occurs; an act actually d…
*An affirmative and volitional act.... *With intent to cause a h…
Battery
* An affirmative and volitional act.... *With intent to cause a…
Intent
*Not intending the consequence, but intending the action that…
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…
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…
10 terms
Business Law // Bill of Rights
1st Amendment
2nd Amendment
3rd Amendment
4th Amendment
Freedom of religion, speech, press, petition, and assembly
Right to bear arms
Limitation on the quartering of soldiers in private homes
Limitations on search and seizure
1st Amendment
Freedom of religion, speech, press, petition, and assembly
2nd Amendment
Right to bear arms
Business Law
What is LAW
Contract LAW
TORT LAW
EMPLOYMENT LAW
It is the conduct to encourage citizens to behave in society…
A promise between two people
Act carefully
Making decisions based off performance and not membership/ re…
What is LAW
It is the conduct to encourage citizens to behave in society…
Contract LAW
A promise between two people
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
Business Law CVHS 1
unconstitutional
precedent
statutes
Bill of Rights
Law or action by a government institution that violates the C…
A requirement for a judge to follow an earlier court decision…
Laws specifically passed by a governing body created for that…
The first amendments to the U.S. Constitution.
unconstitutional
Law or action by a government institution that violates the C…
precedent
A requirement for a judge to follow an earlier court decision…
162 terms
Business Law
Acceptance
Accord and satisfaction
Agent
Alien corporation
an agreement to an offer resulting in a contract.
an agreement made and executed in satisfaction of the rights…
the party appointed by the principal to enter into a contract…
one that is incorporated in a foreign country.
Acceptance
an agreement to an offer resulting in a contract.
Accord and satisfaction
an agreement made and executed in satisfaction of the rights…
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…
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