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Flashcards in Final Deck (17)
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1

What is a strict liability crime?

One without a mental element

2

What is workers compenation?

A no fault system for workplace injuries

3

What is libel?

defamatory falst statements about others

4

What is negligence per se?

The level of care is defined by the statute, for forseeability of injury

5

What is the difference between a condition and a promise?

A condition is necessary for a contract to go through

6

What are the three types of conditions?

Precedent
Subsequent
Concurrent

7

What are compensatory damages?

When you sue for the benefit of the bargain. Put nonbreaching party in as good of postion, as if contract had been performed

8

What are punitive damages?

meant to punish other party, generally not available in breach of contract

9

What are consequential damages?

have to know, in order to assume responsibility

10

What are liquidated damages?

for a certain amount, if contract is breached

11

What is cover?

equivalant item, buyer's substitute transaction

12

What is resale?

seller substitutes transaction (sells somewhere else)

13

What is an injunction?

equitable remedy-You can't do "that' e.g. non compete

14

What is specific performance?

you want what was bargained for. not available for personal service contracts

15

What happens in assignment law?

promise is transferred, and carries all baggage, subject to claims and defenses

16

What is a check?

negotiable instrument

17

What is a holder in due course?

not subject to transactional stuff. the transfer is negotiation. and is free of claims and defenses