Exam 1 (Chapters 1, 2, 4 & 5) Flashcards
(115 cards)
Treble Damages
A statue that says any individual or company harmed may bring a separate action to receive three times the damages actually sustained
Federal Trade Commission Act
One of the statues that regulate unfair competition. It
outlaws unfair methods of competition and unfair acts/practices that affect commerce
Price Discrimination
Occurs when a seller charges different prices to different buyers for “commodities of like grade and quality”, with the result being reduced competition or a tendency to create a monopoly
Also prohibits charging different prices to buyers as related to marginal costs
The Clayton Act is the federal law that makes this an illegal crime
Ex Post Facto
Laws that make criminal an act that has already been committed but was not criminal when it was committed
Laws that increase the penalty for an act already committed above the penalty in force when the act was committed
The Constitution prohibits both states and the federal government from adopting these laws
Difference in Grade
Quality or quantity
Six justified permitted basis of Price Discrimination
- A difference in grade (quality or quantity)
- The cost of transportation involved with performing the contract
- A good-faith effort to meet competition
- Differences in methods or quantities, that is, marginal cost differences
- Deterioration of goods
- A close-out sale of a particular line of goods
Constitution
A body of principles that establishes the structure of a government and the relationship of the government to the people who are governed; State and federal
The U.S. adopted theirs in 1789, after the 13 colonies won their independence from King George
The Branches of Government
Legislative Branch (Congress)
Executive Branch (President)
Judicial Branch (Courts)
Legislative Branch
The branch of government that makes the laws
U.S. Congress (Senate & The U.S. House of Representatives)
Executive Branch
The branch of government that executes or enforces the laws
The President
Judicial Branch
The branch of government that interprets the laws
The Court System
Delegated Powers
Powers, given by the Constitution, that are exclusive to either the state governments or to the national government
i.e. The national government alone may declare war or establish a currency
Shared Powers
The powers delegated to the national government that may still be exercised by the states
i.e. The grant of power to the national government to impose taxes did not destroy the state power to tax
Police Power
The states possess the power to adopt laws to protect the general welfare, health, safety and morals of the people
i.e. States may require that businesses be licensed with state agencies to protect persons dealing with the business
Prohibited Powers
The powers given by the Constitution that does not allow both states and the federal government from doing certain things
i.e. Neither states nor the national government may adopt ex post facto laws
Complaint
The filing of this begins a lawsuit
Generally contains a description of the wrongful conduct and a request for damages, such as a monetary amount
Bedrock View
The argument that the U.S. Constitution should be interpreted strictly; Originalist view suggesting that the federal government gets the least power possible
The purpose of a constitution is to state certain fundamental principles for all time
Living Document View
The argument that the U.S. Constitution should be interpreted broadly, suggesting that the federal government should be given the greatest power that the words would permit
This view also states that a constitution is merely a statement of goals and objectives and is intended to grow and change with time (Supreme Court follows this view)
Trier of Fact
Person, or group of persons, who determines facts in a legal proceeding, usually a trail
Voir Dire
Examination process where jury selection takes place
Jurors drawn for service are questioned by the judge and lawyers to determine whether they are biased or have any preformed judgments about the parties in the case
Due Process Amendments
Fifth and Fourteenth Amendments both limit the power of the government by prohibiting the national government and the state governments from depriving any person of “life, liberty or property without ___ of law”
Due Process Clause
(As a result of liberal interpretation of the Constitution) This clause now provides a guarantee of protection against the loss of property or rights without the change to be heard
The amendments also guarantee that all citizens are given the same protections
[U.S. Constitution, Fourteenth Amendment as to the states; modern interpretation of the ___ ______ clause of the Fifth
Amendment as to national government. Congress adopted the Civil Rights Act to implement the concept of equal
protection]
Equal Protection Clause
The Constitution prohibits the states and the national government from denying any person the ____ _____ of the law
This guarantee prohibits a government from treating one person differently from another when there is no reasonable ground for classifying them differently
Interstate Commerce Clause
To protect commerce, Congress was given Article I, Section 8, Clause 3: the power to regulate commerce with foreign nations, and along the several states and with the Indian Tribes
- Until 1937, The Supreme Court held that this provision gave Congress the power to control or regulate only that commerce crossing a state line (i.e. interstate railway train/telegraph message)
- 1947 The power expanded to the point that it gave authority to Congress to adopt regulatory laws that were “as broad as the economic needs of the nation” (manufacturing, agriculture, mining, stock exchanges, insurance, loan sharking etc)
- Today legislation and congressional authority is shared, some limitations are placed on this clause in order to asses the nature in which underlying activities are being regulated