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Study sets matching "law business chapter 8"

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Study sets matching "law business chapter 8"

9 terms
Business Law - Chapter 8
Request for Proposal
Invitation to Trade
Public Offer
Mailbox Rule
Request for an offer or invitation
Invitation to make an offer
General offer to the public
States that an acceptance is effective
Request for Proposal
Request for an offer or invitation
Invitation to Trade
Invitation to make an offer
19 terms
Business Law : Chapter 8
Negligence
An action for negligence consists of f…
Reasonable Person Standard
Duty to Act
conduct that falls below the standard established by law for…
1) Duty of care,... 2) Breach of duty,... 3) Factual case,... 4) Harm,…
degree of care that a reasonable person would exercise under…
a person is under a duty to all others at all times to exerci…
Negligence
conduct that falls below the standard established by law for…
An action for negligence consists of f…
1) Duty of care,... 2) Breach of duty,... 3) Factual case,... 4) Harm,…
12 terms
Business Law: Chapter 8
certification mark
collective mark
copyright
dilution
a mark used by one or more persons, other than the owner, to…
any bank handling an item for collection, except the payor ba…
the exclusive right or authors to publish, print, or sell an…
with respect to trademarks, a doctrine under which distinctiv…
certification mark
a mark used by one or more persons, other than the owner, to…
collective mark
any bank handling an item for collection, except the payor ba…
16 terms
Business Law Chapter 8 Consideration
Gratuitous
Consideration
Benefit
Detriment
Free. The law does not enforce free agreements.
The exchange of things of value. The exchange of benefits and…
Something that a party was not previously entitled to receive.
Any loss suffered from an agreement.
Gratuitous
Free. The law does not enforce free agreements.
Consideration
The exchange of things of value. The exchange of benefits and…
38 terms
Business Law Chapter 8
promise
promisor
promisee
contract
a declaration that binds the person who makes it to do or not…
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 the person who makes it to do or not…
promisor
a person who makes a promise
44 terms
Business Law Chapter 8
Contract
Promisor
Promisee
Object Theory of Contracts
An agreement that can be enforced in court, formed by two or…
A person who makes a promise.
A person to whom a promise is made.
A theory under which the intent to form a contract will be ju…
Contract
An agreement that can be enforced in court, formed by two or…
Promisor
A person who makes a promise.
33 terms
Business Law chapter 8
mutual manifestation interpretation st…
4 non-offers
expressions of opinion
preliminary negociations
what words spoken and written would mean to a reasonable pers…
expression of opinion... statements of intention... preliminary neg…
statement of general quality or prediction
inquiries or general discussions of potential contract terms.…
mutual manifestation interpretation st…
what words spoken and written would mean to a reasonable pers…
4 non-offers
expression of opinion... statements of intention... preliminary neg…
18 terms
Business Law Chapter 8 Vocab
Consideration
Gift
Donor
Donee
What a person demands & generally must receive in order to ma…
Voluntary transfer of ownership without consideration
Person giving a gift
Person getting a gift
Consideration
What a person demands & generally must receive in order to ma…
Gift
Voluntary transfer of ownership without consideration
12 terms
Chapter 8 Business law
Trademark dilution (prove 4 things)
certification mark
trade dress
collective mark
Trademark Dilution Revision act (TDRA): 1. Plaintiff must own…
is used by one or more persons to certify the validity of the…
image and overall appearance of a product.
appears at the end of a motion picture credits to indicate th…
Trademark dilution (prove 4 things)
Trademark Dilution Revision act (TDRA): 1. Plaintiff must own…
certification mark
is used by one or more persons to certify the validity of the…
13 terms
Chapter 8 Business Law
Fraud
1-False representation of fact, 2-Repr…
Material Fact
Concealment
Deliberate deception to secure an unfair or unlawful gain
What are the 5 elements needed to prove fraud?
Facts that are important and matters to one of the parties
False representation by not saying something that should be s…
Fraud
Deliberate deception to secure an unfair or unlawful gain
1-False representation of fact, 2-Repr…
What are the 5 elements needed to prove fraud?
19 terms
Business Law, Chapter 8 Vocabulary
Consideration
nominal consideration
legal value
Promisee
That which is given or received in a contract. What one deman…
The token amount, for example, "one dollar ($1) and other goo…
There has been a change in a party's legal position as a resu…
The person to whom a promise is made
Consideration
That which is given or received in a contract. What one deman…
nominal consideration
The token amount, for example, "one dollar ($1) and other goo…
16 terms
Business Law Chapter 8 Consideration
Gratuitous
Consideration
Benefit
Detriment
Free. The law does not enforce free agreements.
The exchange of things of value. The exchange of benefits and…
Something that a party was not previously entitled to receive.
Any loss suffered from an agreement.
Gratuitous
Free. The law does not enforce free agreements.
Consideration
The exchange of things of value. The exchange of benefits and…
13 terms
Business Law Chapter 8
Which of the following is not a purpos…
__________ occurs when one person plac…
__________ consists of oral statements…
__________, a privacy tort, is closely…
To punish the defendant for committing a wrong against society
Assault
Slander per se
False light
Which of the following is not a purpos…
To punish the defendant for committing a wrong against society
__________ occurs when one person plac…
Assault
20 terms
Business Law Chapter 8 Consideration
Accord and satisfaction obligation
Composition of creditors
Consideration
Donee
parties' agreement to change the obligation required by their…
agreement by all creditors to accept something less than the…
what a person demands and generally must receive in order to…
person receiving a gift
Accord and satisfaction obligation
parties' agreement to change the obligation required by their…
Composition of creditors
agreement by all creditors to accept something less than the…
18 terms
Business law Chapter 8
Consideration
Gift
Donor
Donee
a person demands and generally must receive in order to make…
a transfer of ownership without receiving anything in return.
person giving the gift.
person receiving the gift.
Consideration
a person demands and generally must receive in order to make…
Gift
a transfer of ownership without receiving anything in return.
18 terms
Arkansas Business Law Chapter 8
consideration
gift
donor
donee
What a person demands and generally must receive in order to…
Transfer of ownership without receiving anything in return.
Person giving the gift
Person receiving the gift
consideration
What a person demands and generally must receive in order to…
gift
Transfer of ownership without receiving anything in return.
20 terms
Business Law Chapter 8
Treaty
International Organization
Comity
Act of State Doctrine
A formal international agreement negotiated between two natio…
An organization that is composed mainly of member nations and…
The principle by which one nation defers to and gives effect…
A doctrine providing that the judicial branch of one country…
Treaty
A formal international agreement negotiated between two natio…
International Organization
An organization that is composed mainly of member nations and…
19 terms
Business Law Chapter 8
tort
intentional torts
libel
slander
violation of a duty imposed by the civil law
harm caused by a deliberate action
written defamation
oral defamation
tort
violation of a duty imposed by the civil law
intentional torts
harm caused by a deliberate action
18 terms
Business Law Chapter 8
offer
3 Elements Necessary in an Offer
Obvious intent
Definite terms
A promise or commitment to perform or refrain from performing…
1. There must be serious objective intent by the offeror... 2. T…
should be determined by a reasonable person as a an offer. If…
the contract must have reasonable definite terms so the the c…
offer
A promise or commitment to perform or refrain from performing…
3 Elements Necessary in an Offer
1. There must be serious objective intent by the offeror... 2. T…
12 terms
Business Law Chapter 8
Intellectual Property
Trademark
Dilution
Service Mark
any property that results from intellectual, creative process…
A distinctive mark, motto, device, or implement that a manufa…
With respects to trademarks, a doctrine under which distincti…
Essentially a trademark that is used to distinguish the servi…
Intellectual Property
any property that results from intellectual, creative process…
Trademark
A distinctive mark, motto, device, or implement that a manufa…
13 terms
Business Law Chapter 8
personal property
tangible personal property
intangible personal property
intellectual property
is everything, other than real property, that can be owned
property that has substance and can be touched
property that has no substance and cannot be touched
an original work fixed in a tangible medium expression
personal property
is everything, other than real property, that can be owned
tangible personal property
property that has substance and can be touched
Business Law Chapter 8
Negligence
Reasonable Person Standard
Children
Physical Disability
Conduct that falls below the standard established by law for…
Degree of care that a reasonable person would exercise under…
Must conform to conduct of a reasonable person of the same ag…
A disabled person's conduct must conform to that of a reasona…
Negligence
Conduct that falls below the standard established by law for…
Reasonable Person Standard
Degree of care that a reasonable person would exercise under…
46 terms
Business Law Chapter 8
Offer
Offeror
Offeree
In case of an offer the court said was…
Proposal frilly made by one party to another indicating a wil…
Person who freely makes the offer
Person to whom the offer is made
Serious and clear and reasonably definite terms and a communi…
Offer
Proposal frilly made by one party to another indicating a wil…
Offeror
Person who freely makes the offer
32 terms
Business Law Chapter 8
Intellectual property
trade secrets
trademark
Fanciful
(blank) is any property that results from intellectual creati…
Types of Intellectual Property... 1. Trademarks and related pro…
Distinctive mark, motto or device or emblem that a manufactur…
(blank) and arbitrary marks are considered the most distincti…
Intellectual property
(blank) is any property that results from intellectual creati…
trade secrets
Types of Intellectual Property... 1. Trademarks and related pro…
82 terms
Business Law Chapter 8
Tort
Objectives of Tort Law: (4)
Types of Torts: (3)
Negligent Tort
a civil wrong that gives the injured party the right to bring…
1. Primary objective is to provide compensation for injured p…
1. Intentional Tort... 2. Negligent Tort... 3. Strict-Liability Tort
occurs when the defendant fails to act in a responsible way a…
Tort
a civil wrong that gives the injured party the right to bring…
Objectives of Tort Law: (4)
1. Primary objective is to provide compensation for injured p…
Business Law Chapter 8
3 legal concepts
bargained-for exchange
something of value
uncoscionable
1. giving up something that you have legal right to keep... 2. d…
when a promise is made in return for another promise
parties agreed freely on the value and price
when courts believe consideration is completely out of line
3 legal concepts
1. giving up something that you have legal right to keep... 2. d…
bargained-for exchange
when a promise is made in return for another promise
70 terms
Business Law Chapter 8
False
True
False
True
A minor may enter into a contract for the sale of alcoholic b…
If a minor disaffirms a contract, he or she must disaffirm th…
For a minor to disaffirm a contract, he or she must present t…
A minor has a reasonable time, after the minor reach the age…
False
A minor may enter into a contract for the sale of alcoholic b…
True
If a minor disaffirms a contract, he or she must disaffirm th…
18 terms
Business Law - Chapter 8
Sole Proprietorship
General Partnership
Fiduciary Relationship
Uniform Limited Partnership Act
A type of business entity that is owned & run by 1 person & i…
- A business entity that's made up of 2+ entities to carry on…
Partners have this when they have a duty of loyalty, to good…
All states (except Louisiana) have adopted a version of this,…
Sole Proprietorship
A type of business entity that is owned & run by 1 person & i…
General Partnership
- A business entity that's made up of 2+ entities to carry on…
18 terms
Business Law Chapter 8
consideration
gift
donor
donee
careful thought, typically over a period of time.
a thing given willingly to someone without payment; a present.
a person who donates something, especially money to a fund or…
a person who receives a gift.
consideration
careful thought, typically over a period of time.
gift
a thing given willingly to someone without payment; a present.
44 terms
Business Law Chapter 8
treason
embezzlement
procedure for felony cases involve:
beyond a reasonable doubt
The offense of attempting by overt acts to overthrow the gove…
The fraudulent appropriation by one person, acting in a fiduc…
1. court conducts a preliminary hearing to determining if the…
Criminal cases required proof to convict. The people or prose…
treason
The offense of attempting by overt acts to overthrow the gove…
embezzlement
The fraudulent appropriation by one person, acting in a fiduc…
20 terms
Business Law Chapter 8
Richard is an adult. He enters into a…
Olivia, a minor, signs a contract to b…
Beth is a minor. She buys a set of ses…
Katie buys a car when she is seventeen…
-cannot disaffirm his contract with Jane because he is an adult
-does not change the fact that Phil is bound by the contract
-can only disaffirm the contract if she returns all the goods
-ratified and Katie cannot recover her payments
Richard is an adult. He enters into a…
-cannot disaffirm his contract with Jane because he is an adult
Olivia, a minor, signs a contract to b…
-does not change the fact that Phil is bound by the contract
Business Law Chapter 8
Certification Mark
Cloud Computing
Collective Mark
Copyright
A mark used by one or more persons, other than the owner, to…
The delivery to users of on-demand services from third-party…
A mark used by members of a cooperative, association, or othe…
Intangible property right granted by federal statue to creato…
Certification Mark
A mark used by one or more persons, other than the owner, to…
Cloud Computing
The delivery to users of on-demand services from third-party…
22 terms
Business Law Chapter 8
Intentional Torts
Negligent Torts
Strict-Liability Torts
Assault
Occurs when the defendant takes an action intending certain c…
Occur when the defendant acts in a way that subjects other pe…
Occur when the defendant takes an action that is inherently d…
Occurs when one person places another in fear or apprehension…
Intentional Torts
Occurs when the defendant takes an action intending certain c…
Negligent Torts
Occur when the defendant acts in a way that subjects other pe…
31 terms
Chapter 8 Business Law
crime
misdemeanors
felony
federal sentencing guidlines
conduct that is prohibited and punished by a government
criminal offense with a sentence of less than one year that i…
criminal offense that is punishable by confinement in prison…
federal standards used by judges in determining mandatory sen…
crime
conduct that is prohibited and punished by a government
misdemeanors
criminal offense with a sentence of less than one year that i…
41 terms
Business Law Chapter 8
Absolute Privilege
Abuse of process
Actual Malice
Appropriation for commercial gain
A special right, immunity, permission, or benefits given to c…
The malicious and deliberate misuse or perversion of a legal…
In defamation, either a person's knowledge that his or her st…
A privacy tort that occurs when someone uses a person's name,…
Absolute Privilege
A special right, immunity, permission, or benefits given to c…
Abuse of process
The malicious and deliberate misuse or perversion of a legal…
18 terms
Business Law Chapter 8
consideration
gift
donor
donee
That which is given or received in a contract.
The transfer of ownership without receiving anything in return.
The person giving a gift.
The person receiving a gift.
consideration
That which is given or received in a contract.
gift
The transfer of ownership without receiving anything in return.
34 terms
Business Law Chapter 8
Mutual Assent
Offer
Offeree
Offeror
The state of mind that exists between an offeror and an offer…
A proposal made by one party to another indicating a willingn…
The person to whom an offer is made.
The person who makes the offer.
Mutual Assent
The state of mind that exists between an offeror and an offer…
Offer
A proposal made by one party to another indicating a willingn…
14 terms
Business Law Chapter 8
Blackmail
computer crimes
Conspiracy
Crime
extortion demands made by a non public offical
wrongs committed using a computer or with knowledge of comput…
a secret agreement between two or more people to perform an u…
An act against the law
Blackmail
extortion demands made by a non public offical
computer crimes
wrongs committed using a computer or with knowledge of comput…
13 terms
Business Law Chapter 8
misdemeanors
felonies
white-collar crime
predicate act
crimes punishable by less than one year in prison
serious crimes
business crime, committed generally
qualifying underlying offense
misdemeanors
crimes punishable by less than one year in prison
felonies
serious crimes
41 terms
Business Law Chapter 8
Crime
misdemeanor
felony
crime is based upon two elements
violation of the law that is punished against the state or go…
criminal offense that is neither a felony nor treason, senten…
more than a year in prison or death, expressly stated by stat…
a mental state (scienter or intent) and an act of omission…
Crime
violation of the law that is punished against the state or go…
misdemeanor
criminal offense that is neither a felony nor treason, senten…
25 terms
Business Law Chapter 8
Negligence
Reasonable Person Standard
Children
Physical Disability
Conduct that falls below the standard established by law for…
Degree of care that a reasonable person would exercise under…
Must conform to conduct of a reasonable person of the same ag…
A disabled person's conduct must conform to that of a reasona…
Negligence
Conduct that falls below the standard established by law for…
Reasonable Person Standard
Degree of care that a reasonable person would exercise under…
22 terms
Business Law: Chapter 8
Contract law
Promisor
Promisee
Contract
designed to provide stability and predictability for both buy…
the person making the promise
the person to whom the promise is made
an agreement that can be enforced in court
Contract law
designed to provide stability and predictability for both buy…
Promisor
the person making the promise
9 terms
Chapter 8 Business Law
A proposal that is both offered by the…
The omission of one or more essential…
According to the ___________, uncertai…
All of the following are considered to…
valid
invalid
Uniform Commercial Code
silence
A proposal that is both offered by the…
valid
The omission of one or more essential…
invalid
12 terms
Chapter 8 Business Law
Genuine agreement
Voidable
Rescission
Ratifacation
Agreement to enter into a contract that is evidence by words…
Contract in which the injured party can withdraw, thus cancel…
Backing out of the transaction by asking for he return of wha…
Acting toward the contract as though one intends to be bound…
Genuine agreement
Agreement to enter into a contract that is evidence by words…
Voidable
Contract in which the injured party can withdraw, thus cancel…
25 terms
Chapter 8 Business Law
blackmail
computer crime
conspiracy
crime
extortion demands made by a nonpublic official.
wrongs committed using a computer or with knowledge of comput…
agreement between two or more persons to commit an unlawful a…
violation of the law that is punished as an offense against t…
blackmail
extortion demands made by a nonpublic official.
computer crime
wrongs committed using a computer or with knowledge of comput…
25 terms
Business Law Chapter 8
Consideration
gift
doner
donee
something of value given as part of the agreement
transform of ownership with getting anything in return
One who gives somethin
The person to whom a gift is made
Consideration
something of value given as part of the agreement
gift
transform of ownership with getting anything in return
19 terms
Business Law: Chapter 8
consideration
gift
donor
donee
what a person demands and generally must receive in order to…
transfer of ownership without receiving anything in return
person giving the gift
the person receiving the gift
consideration
what a person demands and generally must receive in order to…
gift
transfer of ownership without receiving anything in return
12 terms
Business Law Chapter 8
Genuine Agreement
Voidable Contract
Rescission
Ratification
Agreement to enter into a contract that is evidenced by words…
Contract in which the injured party can withdraw, thus cancel…
Backing out of the transaction by asking for the return of wh…
Acting toward the contract as though one intends to be bound…
Genuine Agreement
Agreement to enter into a contract that is evidenced by words…
Voidable Contract
Contract in which the injured party can withdraw, thus cancel…
9 terms
Business Law Chapter 8
Request for Proposal
Invitation to Trade
Public Offer
Mailbox Rule
A request for an offer or an invitation to negotiate that can…
An announcement published for the purpose of creating interes…
A general offer to the public at large
A rule that states that an acceptance sent via the postal sys…
Request for Proposal
A request for an offer or an invitation to negotiate that can…
Invitation to Trade
An announcement published for the purpose of creating interes…
42 terms
Business Law Chapter 8
Acceptance
Accord and satisfaction
Assignee
Assignment
The contractual communication of agreeing to another's offer.…
Payment of money, or others things of value, usually less tha…
Third party, who is not an original contracting party, to who…
A transfer of contractual rights
Acceptance
The contractual communication of agreeing to another's offer.…
Accord and satisfaction
Payment of money, or others things of value, usually less tha…
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