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Uncategorized > 2nd Quarter- BUSINESS LAW Exam 1 > Flashcards

2nd Quarter- BUSINESS LAW Exam 1 Flashcards

1
Q

“Blackstone’s definition.” Rules of civil conduct commanding what is right and prohibiting what is wrong. A governmental rule prescribing conduct / caring out a penalty for violation.

A

law

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2
Q

bodies of law

A

Criminal Law / Civil Law

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3
Q

Related to crimes and punishment of wrong doers.

Laws dealing with offenses against society

A

criminal law

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4
Q

legal proceedings concerned with the rights of public citizens.
Laws dealing with the enforcement or protection of private rights..
Examples: Tort Law Contract Law

A

civil law

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5
Q

Criminal offense punishable by confinement in prison or by death. Example: Murder Bank Robbery

A

felony

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6
Q

Criminal offense which is neither treason nor a felony.

Example: Speeding ticket Running a stop sign.

A

misdemeanor

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7
Q

bending or breaking the law

A

tort law

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8
Q

a private or civil wrong, either intentional or caused by negligence, for which there may be action for damages / private wrong for which damages might be recovered

A

tort

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9
Q

basis for tort liability

A

Intentional / Negligence/ Strict Liability)

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10
Q

“Failure to exercise ordinary care.”

A

negligence

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11
Q

failing to do something which a reasonable and prudent person would do under ordinary circumstance.

A

act of omission

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12
Q

doing something which a reasonable and prudent person would not do under ordinary circumstance.

A

act of commision

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13
Q

liability for injury regardless of negligence or intent.

A

strict liability

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14
Q

when seller is liable for any and all defective or hazardous products which threaten a consumer’s personal safety.

A

product liablility

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15
Q

Improper or negligent professional act by a professional person. Example: poor embalming. or the doctor leaves instrument in abdominal cavity during or after surgery.

A

malpractice

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16
Q

Related to making and executing contracts.

Laws dealing with making contacts.

A

contract law

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17
Q

Rules of conduct prescribed by a government and its agencies to regulate business transactions
Rules of conduct for the performance of business transactions

A

business law

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18
Q

Rules of conduct prescribed by a government and its agencies, in regulating transactions related to Real and Personal property.

A

property law

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19
Q

Land and objects permanently attached to land. Real Estate.Land, Building, Fences, Trees, etc.

A

real property

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20
Q

All property which is not real property.

Cars, Furniture, Jewelry, Insurance, Stocks, Bonds, etc.

A

personal property

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21
Q

sources of US law

A 
o	Common Law 
o	Constitutional Law
o	Statuary Law
o	Police Power
o	Administrative Law
o	Ordinances
o	Case Law
o	Stare Decisis
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22
Q

The Pyramid of Law

A 
Stare Decisis
Case Law
Ordinances
Administrative Law
Police Power
Statutory Law
Constitutional Law
Common Law
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23
Q
  1. customs which have become recognized by the courts as binding on the community. 2. Forms the historical foundation of U.S. Law. 3. Based on human experience. “Common good” of all people(Members of Society). 4. Rooted in English and early colonial law. “If it makes sense,it must be good law.”
    Constitutional Law - written document containing fundamental principles of government.Power and duties of a government. Guarantees Rights of the people - first 10 amendments of the constitution. “Law of the land.”
    Example: Federal and individual state constitutions
A

common law

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24
Q

enacted by legislative bodies.

A

statutory law

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25
Q

Legislative bodies include Federal, State and Local Governments

A

statutes

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26
Q

enacted by the U. S. Congress

A

federal statutes

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27
Q

enacted by individual state legislatures

A

state statutes

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28
Q

inherent power of every government to make reasonable laws to protect the safety, health, morals, and general welfare of its citizens.

Example:	Mortuary law
		Licensure
		Health standards
		Business operations
A

police power

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29
Q

Body of law created by federal and state administrative agencies to implement their powers and duties in the form of rules, regulations, orders, and decisions.

Example:	OSHA regulations
		FTC funeral rule
		State board rules and regulations
A

administrative law

30
Q

Appointed governmental body charged with the implementing particular legislation.

Examples: Occupational Safety and Health Administration (OSHA)
Federal Trade Commission (FTC)
Texas Funeral Service Commission (TFSC)

A

administrative agencies

31
Q

Laws enacted by local municipalities, villages, towns or city.

Example: City of Houston has parking ordinances / No Smoking In Public Buildings.

A

ordinances

32
Q

Court decisions that establish precedent principles. Laws based on a court’s interpretation of federal, state, and local laws. Determines “constitutionality” of a law.

A

case law

33
Q

Principle that decisions of a court should serve as guide or precedent and control the decision of a similar case in the future. Reliance on authority of established law “like cases are decided in like manner”. Applicable to mortuary law and court cases.

A

Stare Decisis (Decision Stands)

34
Q

authority of a court to hear a case. Related to the subject matter and person(s) involved in a court case. Function of the courts – to interpret & apply law to a given situation.

A

jurisdiction

35
Q

Have exclusive jurisdiction over – bankruptcy, claims against USA, Patent & Copy Right Cases.

A

federal courts

36
Q

Trial courts of the federal court system.
Largest class of federal courts / Deal only with criminal cases involving violation of federal law. Or civil suits that meet specified criteria.
Cases brought by US Govt., Cases arising under U.S. Constitution / Federal Laws/Treaties

A

federal district courts

37
Q

Offense which is injurious to society as a whole / punishable offense against society.

A

Crime

38
Q

Deliberate and intentional action to cause harm

A

Intentional

39
Q

There are 12 federal judicial districts.
Courts that hear appeals in the federal court system.
Hears appeals from cases originating in federal district courts.
Hears appeals from federal administrative agencies and departments within its circuit.
Decision have precedence over lower courts.

A

Federal Circuit Court of Appeals

40
Q

o Highest court in the United States.
o Court of original jurisdiction in cases involving ambassadors, public ministers, consuls, and cases in which a state is a party.
o As well as cases appealed from federal courts of appeal.
Supreme decision over all lower courts

A

U.S. Supreme Court

41
Q

issued by Supreme Court
o Order to produce the record of a case.
o Only such cases will be heard by the U. S. Supreme Court

A

Writ of Certiorari

42
Q

Federal trial courts with limited jurisdiction.
Limited by laws of Congress creating them.

Examples: Bankruptcy Court / Tax Court / Court of International Trade
	U.S. Court of Federal Claims (against the courts).
A

Special Courts

43
Q

Inferior courts

		- Courts of original general jurisdiction
		- Appellate courts
		- Special courts (State & City)
A

State Courts

44
Q

Trial courts that hear only cases involving minor criminal offenses and disputes between citizens.

Examples: District, Magistrate, County ,Municipal (city) ,Small claims, Justice, and Tax Courts.

A

Inferior Courts

45
Q

Court in which a case is first heard.
Maintain an official record of all proceedings.
Broad jurisdiction over disputes between two or more parties.
Criminal offenses against the state.

This Court: Hear witnesses
		Receive evidence
		Try a case

Examples:	Trial Court,	Court of Record, Circuit Court, District Court, and Superior Court
A

Court of Original General Jurisdiction (State)

46
Q

usually in larger cities.

Courts hearing cases appealed from lower state courts

Examples: Court of Appeals
State Supreme Court

A

Appellate Courts (State)

47
Q

Courts with limited jurisdiction

Examples: Probate Court Juvenile Courts Domestic Court

A

Special Courts (State)

48
Q

Laws specifying how actions are filed & that trial procedure to follow

A

. Procedural Laws

49
Q

Person Licensed to represent others in court.

A

attorney/ lawyer

50
Q

written request initiating a civil suit

A

complaint or petition

51
Q

a notice of complaint given to a defendant defining the complaint and a time frame in which a response, or answer, must be filed. Serves the purpose of conferring personal jurisdiction over defendant. Also known as a process

A

summons

52
Q

The response of the defendant to a complaint. Also known as a motion.

A

answer

53
Q

The decision of the court. Favor of the Plaintiff or Defendant

A

judgement

54
Q

Carrying out of completion of some task

A

execution

55
Q

Individual who initiates a civil action

A

plaintiff

56
Q

Person against whom legal action is brought

A

defendant

57
Q

agreement between two or more competent persons (parties) which is enforceable by law.

A

contract

58
Q

Classifications of contracts:

Based on:
A

formation / performance / enforceability

59
Q

parties express their intentions, either orally or in writing, at the time of the agreement.

A

express contract

60
Q

terms of the contract are implied by acts or conducts of the parties.
In fact - example: “first call.”

A

implied contracts

also called contract implied in fact

61
Q

those with a special form or produced in a certain way.
Contract “under seal.”
Today most contracts are these kind

Example: Real Estate Contracts
Negotiable Instruments
Funeral Contract

A

formal contracts

62
Q
  • any contract which is not a formal contract
A

simple contract

63
Q
  • calls for an act in consideration for a promise.
    One promise is given in exchange for an act.
    you find my lost dog; I pay you $100
A

unilateral contract

64
Q

mutual exchange of promises.
Exchange a promise for a promise.
You agree to buy my car for $5,000. Car is yours when you give me the money.
Most contracts are bilateral contracts.

A

bilateral contract

65
Q

terms of the contract have not been completely executed or fulfilled by the parties.

A

executory contracts

66
Q
  • terms have been fulfilled by the parties
A

executed contracts

67
Q

contract enforceable by court.

A

valid contract

68
Q

Agreement with no legal effect.

Example: contract to rob a bank.

A

void agreement

also called a void contract

69
Q

Contract which would be an enforcement agreement, but due to circumstances, may be set aside by one of the parties.
Example: party to a contract is declared “mentally incompetent” / party contracts with a minor / minor contracts with anotherminor

A

voidable contract

70
Q

Agreement which is not in the form required by law, but can be made so by the parties.
- a contract that is not currently binding
Example: simple contract made into a formal contract.

A

unenforceable contract

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