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ACC 241 > ACC 241 Final > Flashcards

ACC 241 Final Flashcards

1
Q

Sources of Law

A

Constitution (State and Federal)
Statutes (State and Federal)
Case Law (Judges)
Ordinances (towns)

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2
Q

What are the two types of remedies?

A

Legal (Money)

Equitable (Other things)

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3
Q

What are the equitable remedies?

A

Injuction – stop doing it
Recission – cancel contract
Specific Performance

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4
Q

When can specific performance never be granted?

A

in personal service contracts

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5
Q

In real estate, who can demand specific performance?

A

the buyer, not the seller

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6
Q

Two ways to get to federal jurisdiction

A 
Federal Question (not always exclusive)
Diversity Jurisdiction
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7
Q

Exclusive Federal Jurisdiction

A 
Anti-Trust
Bankruptcy
Federal Crimes
Intellectual Property
Maritime Law
United States is a Party
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8
Q

When does a court have personal jurisdiction?

A

Automatic for resident

Out of state – sufficient minimum contacts

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9
Q

What are the steps of litigation?

A 
Pleadings
Discovery
Pre-trial
Trial
Post-trial
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10
Q

What is included in the pleadings?

A 
Summons
Complain
Answer
Cross-complain
Reply
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11
Q

What does the summons and complaint cover?

A 
Summons -- Notifies
Complaint --
1) facts sufficient to show jurisdiction
2) Facts to show cause of action
3) requested remedy
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12
Q

What is included in the answer?

A

Affirmative Defense

Counter Claims

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13
Q

What motions are there (both pre-trial and post-trial)

A 
Pre-trial:
Motion for summary judgment
Post-trial
Motion for new trial
Motion for judgment notwithstanding the verdict (JNOV)
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14
Q

What are the three things your review during appellate proceeding?

A

1) Your written brief
2) Trial transcripts (court record)
3) Oral argument

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15
Q

What are the three intentional torts we need to know for this test?

A

1) Assault
2) Batter
3) Invasion of Privacy

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16
Q

What are the four types of invasion of privacy?

A

1) Intrusion upon seclusion (peeping tom or computer-hacking)
2) Misappropriation
3) False Light
4) Publication of Private Facts

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17
Q

What are the four elements of negligence?

A

Duty
Breach
Causation (actual and proximate)
Injury

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18
Q

Difference between Actual and Proximate causation

A

Actual – but/for

Proximate – foreseeable

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19
Q

Types of Comparative Negligence?

A

Pure comparative

Modified/Partial Comparative (plaintiff has to be < defendant)

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20
Q

Kinds of defects in product liability

A

Manufacturing
Design
Warning

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21
Q

Who can you sue in product liability?

A

Anyone in the chain of distribution

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22
Q

What business torts are there?

A

Tortious interference with a contract

Bad faith

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23
Q

What crimes do we have to remember?

A 
Burglary
Robbery
Larceny
Embezzlement
Responsible Corporate Officer
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24
Q

Difference Between Burglary, Robbery, and Larceny

A

Burglary – entering into dwelling w/o authorization w/ intent to commit felony or assault
Robbery – (mugging) use threat or force to take personal property from you
Larceny – (pick-pocket) – deprive you of your personal property w/o you knowing

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25
Q

What are the steps in crimnal procedure?

A

Arrest
Booking
Arraignment
Trial

26
Q

What happens in arraignment?

A

Charging document

Plea

27
Q

Difference between an information and inditement during arraignment

A

Information – from prosecution

Inditement – from the grand jury

28
Q

Elements needed for an implied contract?

A

Plaintiff offered service/good w/ expectation of pay
Defendant knew plaintiff expected pay
Defendant had opportunity to reject

29
Q

Two exceptions of mailbox rule

A

Written into contract

Rejection first sent, then acceptance (first to arrive wins)

30
Q

Three types of consideration in contract

A

Promise
Performance
Forbearance

31
Q

Difference between sufficient and adequate consideration?

A

Sufficient – Exisists?

Adequate – Enough?

32
Q

Two times consideration isn’t sufficient (for this test)?

A

Past consideration

Pre-existing legal duty

33
Q

When does accord and satisfaction apply?

A

A disputed debt

34
Q

When can minors not disaffirm?

A

NEVER!

35
Q

When are minors liable for damage to contract material?

A

Gross negligence, recklessness, intentional damage

Misrepresentation of Age

36
Q

When can minor ratify?

A

After adulthood (Express or Implied)

37
Q

When does not having a valid license void contract?

A

Barrier to do – void

Raise revenue – valid

38
Q

Defenses to Contract Formation?

A

Mistake of Fact (Uni and Bi)
Duress
Undue Influence

39
Q

Unilateral Vs. Bilateral Mistake of Fact

A 
Unilateral -- Still valid 
UNLESS
1) non-mistaken party knew there was mistake and tried to take advantage
2) clerical error (not GROSS negligence)
3) unconscionable
Bilateral -- either can void
40
Q

Mistake of value

A

What its worth – not a defense

41
Q

Duress vs Undue Influence

A

Duress – threat or forcing to enter into a contract

Undue Influence – fiduciary relationship and overcome person’s reason

42
Q

Fraud vs Puffery

A

Fraud – intentional misrepresentation of a FACT

Puffery – statement of opinion

43
Q

Stature of Fraud

A 
Marriage
Year
Land
Goods (over $500)
Guaranty
Statute of Limitations
44
Q

What do you need for promissory estoppel (just short of a contract)?

A

Reasonable to rely on promise

Reliance on a promise to your deterimant

45
Q

Difference between assignment and delegation?

A

Assignment – transfer of contract right

Delegation – transfer of contract duty

46
Q

Conditions (Precedent, Concurrent, Subsequent)

A

Precedent – happening parties must perform
Subsequent – happening means parties do not have to perform
Concurrent – have to happen at same time

47
Q

Types of Remedies

A 
Compensatory
Incidental
nominal
Consequential
Punitive
Recission and Restitution
48
Q

Who needs capacity in a principal/agent relationship?

A

Principal

49
Q

When is a principal liable for an agent’s torts?

A

Within scope of work
(motivation test, work-related test)
(coming/going generally not liable)
(frolic vs. detour)

50
Q

Who is liable with breach of contract in principal/agent relationships?

A

Fully disclosed – only principal

Partially/Un-disclosed – agent can initially be liable but can sue back under indemnification

51
Q

What is the liability of partners in a general partnership?

A

Unlimited personal liability?

52
Q

What is the difference between LLP’s and LP’s?

A

LP’s have two types that are either personally or only limitedly liable
LLP’s – everyone has limited liablity (when state doesn’t have LLC’s)

53
Q

What is an Operating Agreement?

A

document that governs internal affairs of LLC

54
Q

What are types of management in LLC’s?

A

Manager or Member Managed

55
Q

Difference between loyalty, care, and obedience?

A

Loyalty – conflicts of interest
Care – doing your job
Obedience – following bylaws

56
Q

Roles of Directors, Officers, and Shareholders?

A

Directors – High level
Officers – day to day
Shareholders – ?????

57
Q

What are the financing options of corporations??

A

???

58
Q

What is a derivative lawsuit?

A

Brought by shareholders

1) who were holders when it happened
2) represent interests of all share holders
3) made written demands on corporate officers/directors

59
Q

What are the types of ethical reasoning?

A

Kantian
Utilitarianism
Ethical fundamentalism
Ethical relativism

60
Q

What are the categories of corporate social responsibility?

A

Making a profit
Moral Minimum
Stakeholder Interest
Corporate Citizenship

61
Q

Three ways to perfect a security interest?

A

1) filing a financing statement
2) possession of collateral
3) perfection by a purchase money security interest in consumer goods

ACC 241 (4 decks)

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