2nd Quarter- BUSINESS LAW Exam 1 Flashcards Preview

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Flashcards in 2nd Quarter- BUSINESS LAW Exam 1 Deck (70):
1


"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.

law

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bodies of law

Criminal Law / Civil Law

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Related to crimes and punishment of wrong doers.

Laws dealing with offenses against society

criminal law

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

civil law

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

felony

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Criminal offense which is neither treason nor a felony.
Example: Speeding ticket Running a stop sign.

misdemeanor

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bending or breaking the law

tort law

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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

tort

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basis for tort liability

Intentional / Negligence/ Strict Liability)

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“Failure to exercise ordinary care.”

negligence

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

act of omission

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

act of commision

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liability for injury regardless of negligence or intent.

strict liability

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

product liablility

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

malpractice

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Related to making and executing contracts.
Laws dealing with making contacts.

contract law

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

business law

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

property law

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

real property

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All property which is not real property.
Cars, Furniture, Jewelry, Insurance, Stocks, Bonds, etc.

personal property

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sources of US law

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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The Pyramid of Law

Stare Decisis
Case Law
Ordinances
Administrative Law
Police Power
Statutory Law
Constitutional Law
Common Law

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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

common law

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enacted by legislative bodies.

statutory law

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Legislative bodies include Federal, State and Local Governments

statutes

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enacted by the U. S. Congress

federal statutes

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enacted by individual state legislatures

state statutes

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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

police power

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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

administrative law

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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)

administrative agencies

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

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

ordinances

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

case law

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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.

Stare Decisis (Decision Stands)

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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.

jurisdiction

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


federal courts

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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

federal district courts

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

Crime

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Deliberate and intentional action to cause harm

Intentional

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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.

Federal Circuit Court of Appeals

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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

U.S. Supreme Court

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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

Writ of Certiorari

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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).

Special Courts

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

State Courts

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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.

Inferior Courts

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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

Court of Original General Jurisdiction (State)

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usually in larger cities.

Courts hearing cases appealed from lower state courts

Examples: Court of Appeals
State Supreme Court

Appellate Courts (State)

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Courts with limited jurisdiction

Examples: Probate Court Juvenile Courts Domestic Court

Special Courts (State)

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

. Procedural Laws

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Person Licensed to represent others in court.

attorney/ lawyer

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written request initiating a civil suit

complaint or petition

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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

summons

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

answer

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

judgement

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Carrying out of completion of some task

execution

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Individual who initiates a civil action

plaintiff

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Person against whom legal action is brought

defendant

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

contract

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Classifications of contracts:

Based on:

formation / performance / enforceability

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

express contract

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

implied contracts
also called contract implied in fact

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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

formal contracts

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- any contract which is not a formal contract

simple contract

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- 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

unilateral contract

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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.

bilateral contract

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

executory contracts

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- terms have been fulfilled by the parties

executed contracts

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contract enforceable by court.

valid contract

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Agreement with no legal effect.
Example: contract to rob a bank.

void agreement
also called a void contract

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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

voidable contract

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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.

unenforceable contract