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Legal Business 1 > Ch 13 > Flashcards

Ch 13 Flashcards

(75 cards)

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0
Q

Civil law

A

Allows individuals to bring actions for damages

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1
Q

Sherman antitrust act 1890

A

Made price fixing illegal

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2
Q

Criminal law

A

Allows society to punish wrongdoers

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3
Q

White collar crime

A

Applies to criminals of high socioeconomic status

Ex. Corporate executives who commit fraud

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4
Q

What are white collar crimes not dependent on?

2) what is the goal of the crime?

A

Not dependent on threat of physical force or violence

2) goal: obtain resources, services, avoid payment or loss for
Personal or business advantage

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5
Q

Common examples of white collar crime

A

Embezzling money, making electronic advances to fictitious
Employees,
accepting kickbacks from suppliers in exchange
For orders, rigging bids, selling trade secrets, falsifying
Inventories to conceal theft, paying false invoices

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6
Q

Penalties for white collar crimes

A

Jail time for guilty parties, fines paid by company

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7
Q

Crime classification: felony

A

Felonies punishable by fine or imprisonment for period

Of 1 year or more

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8
Q

Classifications of crime: Misdemeanors

A

Punishable by fine or jail sentence of less than 1 year

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9
Q

Grand jury Indictment

A

Felony cases are commenced by grand jury indictment

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10
Q

Charge: information

A

Misdemeanor cases are commenced when government

Files charge called an information

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11
Q

Grand juries vs. Petit juries

A

Grand juries determine there is sufficient evidence to warrant
Trial (investigatory role)

Petit Jury determines guilt or innocence of accused

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12
Q

Intent

A

Important element of criminal laws

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13
Q

What 2 terms may be used to define criminal intent?

A

1 willfully

2 knowingly

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14
Q

Willfully

A

Act is committed voluntarily and purposefully with specific

Intent to do something

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15
Q

When does a person not act willfully?

A

If there’s good faith misunderstanding of requirements

Of law

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16
Q

Knowingly

A

Voluntary and intentional, not because of mistake or accident

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17
Q

In criminal case what 3 possible pleas can a defendant enter

A

1 guilty
2 not guilty
3 nolo contendere

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18
Q

Nolo contendere

A

Equivalent of pleading guilty but avoiding costs of trial

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19
Q

Fifth Amendement of US Constitution

A

Before anyone can be tried for capital or infamous crime

There must be presentment or indictment by grand jury

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20
Q

What does the 5th Ammendment protection prevent

A

Political trials and unjustified prosecutions by placing group
Of citizens btw prosecutors and persons accused of crimes

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21
Q

Probable cause

A

Determination where majority of grand jury must find crime
Has been committed

and evidence is sufficient to warrant the accused’s standing
Trial

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22
Q

Presumption of innocence

A

Presumed innocent until found guilty by petit jury

What an indicted person is entitled too

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23
Q

Civil liberties

A

Rights protect individuals from power of government

including individuals accused of crimes

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24
The Bill of Rights protects businesses from...
Excessive regulation
25
Fourth Ammendment protection of: unreasonable searches and seizures by government
Primarily protects persons from unwarranted intrusions On their privacy Requires police to obtain search warrant
26
Search warrant, general rule
Court order, where police offer evidence crime has been Committed to obtain and it will assist investigation Must be obtained by police prior to search of person, Any premises or property (such as trunk of automobile
27
Businesses that don't have expectation of privacy, examples
Nursing homes that receive Medicaid funds have voluntarily Consented to warrantless searches Also searches at airports
28
Fourth Ammendment: drug testing
Not protected by fourth amendment in most work places
29
Fifth Ammendment: protection against incrimination
Protects accused from being compelled to testify against Himself or herself By invoking their Miranda Rights
30
Fifth Ammendment: corporations and professional partnerships 2) what business is protected under the fifth amendment privilege against compulsory self incrimination
These entities have no 5th Ammendment right to refuse to Submit their books and records in response to subpoena 2) sole proprietorship
31
5th Ammendment: double jeopardy
Courts don't allow individuals to be tried twice by same governmental entity for same crime based on same factual Situation
32
6 protections provided by the 6th Ammendment, right to:
``` 1 speedy and public trial 2 trial by jury 3 be informed of charge against you 4 confront your accuser 5 subpoena witnesses in your favor 6 have assistance of an attorney ```
33
The right to an attorney exists in any cases where...
Incarceration is a possible punishment
34
What Fraud can lead to?
Can be a defense to a contract Can also form basis for civil tort action , can also create Criminal liability
35
When is fraud committed?
Knowingly/willfully falsifies, conceals or covers up any Trick, scheme or device Makes any false statements, false documents or writing
36
Penalties for fraud
Fines and imprisonment
37
A prosecutor must establish presence of: scheme to defraud
Plan or program designed to take from a person, the | Tangible right of honest services
38
Common fraud schemes 6
``` 1 telemarketing fraud 2 advance fee scheme 3 Nigerian letter 419 fraud 4 impersonation/identity fraud 5 ponzi schemes ```
39
Advance fee scheme
Victim pays money to someone in anticipation of more | money
40
Telemarketing fraud
Giving personal info over phone
41
Impersonation/identity fraud
Occurs when Simone assumes your identity to perform | Fraud or other criminal act
42
Mail and wire frauds penalties
Up to $1,000,000 and 30 years in prison
43
Mail fraud
Use of US postal service
44
Wire fraud
Ue of radio, television, telephone, Internet
45
Intent to defraud
Act knowingly and with specific intent to deceive someone Cause victim financial loss, for personal gain
46
Good faith
Complete defense: defendant did not have intent to defraud
47
Securities exchange act. 1934 by SEC
Covers fraud on purchase or sale of security | And accounting fraud of financial statements
48
Common examples of healthcare fraud
1 billing for services not actually performed 2 falsifying patient diagnosis to have unnecessary tests and Surgery performed 3 unfolding billing to perform more costly procedure 4 unbundling billing like each stage of procedure is separate Procedure 5 accepting kickbacks for patient referrals 6 billing patient more than copay plan for services paid in Full by benefit plan
49
Counterfeiting
Federal law outlaws use of stolen back cards, plates, | account #s, fund transfers and credit cards
50
Bankruptcy crimes
When debtor falsifies information filed in bankruptcy proceedings (conceals property) it's a felony Also crime to present false claim in bankruptcy proceeding
51
Conspiracy
Agreement (kind of partnership) for criminal purposes Where each member becomes agent or partner of every Other member Members plan all details of scheme
52
What 4 pieces of evidence must be shown beyond a reasonable doubt, to convict parties of conspiracy
1) 2 or more persons came to mutual understanding to try To accomplish unlawful plan 2)defendant willfully became member of such conspiracy 3 during existence of conspiracy, at least 1 of the members Committed at least 1 overt acts described in the indictment 4 overt act was knowingly committed in effort to carry out Or accomplish some object of conspiracy
53
Overt act
Any transaction or event knowingly committed by | conspirator In effort to accomplish object of conspiracy
54
Obstruction of justice
Occurs when individual commits act with intent to obstruct | Legislative process or judicial process
55
False statement to federal agency, what's the penalty
Federal crime for anyone willfully and knowingly to make False statement to a department or agency of the US Max penalty $10,000 and 5 years in prison
56
Exculpatory no exception
Narrow exception protected an individual from prosecution For making false statement when person's statement denies Criminal wrong doing
57
Larceny
Unlawful taking of personal property with intent to deprive Rightful owner permanently (theft) Ex. Shoplifting, company buys luxury items yachts, seasontickets for personal use of executives
58
Robbery
Larceny done with violence or threat such as a gun
59
Burglary
Breaking into building with intent to commit felony
60
Embezzlement
Occurs when person entrusted with another's money or | Property fraudulently appropriates it
61
Money laundering
Falsely reporting income that is obtained through criminal "dirty" activity as income obtained through legitimate "clean" Business enterprise
62
Racketeer Influenced and Corrupt Organizations Act (RICO)
Law imposes civil and criminal liability upon business Persons who engage in certain prohibited activities And who engage in interstate commerce Ex. Acts or threats involving murder, kidnapping, robbery, bribery, extortion, dealing in obscene manner, controlled substances, counterfeiting, fraud, obstruction of justice, tampering with witnesses or evidence, prostituting, trafficking, loan sharking
63
Racketeer Influenced and Corrupt Organizations Act (RICO): specifically liability extends to any person who (3 things)
1 uses/invests income from prohibited activities to acquire An interest in or operate enterprise 2 acquires or maintains an interest in or control of enterprise 3 conducts or participates in conduct of enterprise while Being employed or associated with it
64
Pattern of racketeering
Activity or the collection of an unlawful debt Requires at least 2 acts of racketeering activity within 2 Year period
65
Racketeering
Act or threat involving specified state law crimes, or act | Indictable under various federal statutes + certain fedl offenses
66
Racketeer Influenced and Corrupt Organizations Act (RICO) penalties
Large, compensation triples
67
Cyber crime: over Internet 4 examples
1 identity theft 2 unauthorized access 3 employees issuing corporate stock to themselves 4 stolen trade secrets and personal records
68
Reckless endangerment of workers charge 2) occupational safety and health administration
Occurs if worker is injured or accidental homicide (killed On job) 2) can bring on actions if Worker is exposed to unsafe standards (chemicals)
69
Aiding and abetting
When person acts under direction if someone accused of | Criminal activities they are held responsible
70
Accessory
State level charge equivalent to aiding and abetting (which is federal)
71
If a person is accused of being involved after the crime | Is committed, the charge is...
Accessory after the fact Ex. Someone who helps perpetrator elude police
72
Kickbacks
Payments made to person who has facilitated transaction Ex. Building contractor giving money back to government Official in exchange for building contract
73
Sentencing guidelines
Rules for federal decisions of judges published in the late 80's initially were mandatory for judges to follow when Making decisions They are currently not mandatory
74
Companies put on probation
Can't sell stock or pay dividends

Legal Business 1 (25 decks)

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