Leg & Soc Test 2 Flashcards
(151 cards)
1
Q
Mitochondria case
A
2 people have 1 DNA strand; baby will live no longer than 10 years; Britain–> can take a healthy DNA strand from 3rd party and put into cell of parents
2
Q
Contracts Law
A
“invisible backpack material”; known as k; a promise or set of promises for the breach of which the law provides remedy
3
Q
Elements of Contract
A
1) offer; 2) Acceptance of offer; 3) Consideration
effected by 1) Capacity–VOIDABLE 2) Legality–VOID
4
Q
Express Contract
A
manifest our agreement either orally or in writing
5
Q
Implied contract
A
parties don’t write anything down and don’t say anything; contract created by conduct. ex. April Cleaning yard
6
Q
Unilateral Contract
A
1 party makes a promise and the other party performs ex. paint without setting up a date
7
Q
Bilateral Contract
A
both parties make a promise Ex. tree cutter
8
Q
Uniform Commercial Code
A
uniform set of laws that are passed in identical form in every single state except Louisiana; ex. state law
9
Q
Nepolianic Code
A
Louisiana; practices French Law
10
Q
Legality of a contract
A
VOID; if object of contract is illegal– contract is void (as if it never existed);
ex. Kill Riley, NFL paying people for injuries
11
Q
Capacity
A
2 parties to a contract understand the nature of consequences of their actions
12
Q
Defects in Capacity
A
VOIDABLE; but only on the part with the person on the defect
13
Q
Types of Defects in Capacity
A
1) Infancy; 2) Mental Incompactiy; 3) Intoxication
14
Q
Infancy
A
until 18 years old; reasonable period of time after turns 18; decide case by case; ex. give kid back money after crashes car just after buying it
15
Q
Nonvoidable infancy
A
if minor marries at the age of 14; Rent a place to live; Divorced at 16
16
Q
Ratification
A
make payment after turn 18 (sign that you chose to keep the contract) ex. pay monthly credit card payment
17
Q
Mental Incompacity
A
mental illness, alzteimers, dimensia, or any kind of mental disability; part of voidability—sign when on or off meds?
18
Q
Intoxication
A
unsympathetic to judge; ex sign car away while drunk–probably excused
high go wire cars–liable
19
Q
Acceptence
A
the manifestation of consent to the terms of an offer in the manor required by an offer
-by any commercial reasonable means
20
Q
Clerical Error
A
might be able to get back; if misplace decimal point
21
Q
Consideration
A
benefit of the bargain for both parties; both parties have to get something of value
22
Q
Is the promise to make gift enforceable?
A
No lacks consideration on 1 side
23
Q
What type of contract is it when someone hangs up posters offering a reward for whoever finds their dog?
A
Unilateral Contract
24
Q
Uncle made a deal with his nephew if he stayed out of trouble in college he would give him $10,000. What kind of contract?
A
Unilateral
25
Case #1 Hooters
waitress in Panama City Beach, FL--beer sales contests--highest beer sales will win Toyota--Unilateral accept by doing it. Jody wins--day of award she is given a Toy Yota from Star Wars; they settled and let her pick out any Toyota ($40,000)
26
Davenport, IA Case
give 10,000 to whoever got numbers tattooed on their forehead--Unilateral
27
Lucy vs Zehmer
Supreme Court of Appeals Virginia 1954; eating dinner Zehmer says to Lucy Fergusen sell farm to her for $50,000. Lucy says yes would love to buy it. Wrote note on back signed by Zehmer and Wife. Lucy tries to give him $20. No I am not selling you Furgesen farm. Sues him.
28
2 prong test
1) objective test; 2) subjective test
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Objective Test
court analyzes if three elements of contract are present: offer, acceptance, consideration effected by Capacity and Legality
30
Subjective Test
has to be meeting of the minds
--defects- intimacy, emancipated, intoxicated, "as high as Georgia pines"
look from person who is at a disadvantage
31
Specific Performance
have to give up something (farm) found meeting of minds
| -had to sell farm to Lucy
32
Contingency Contracts
agree to take case if its is settled get 30%; goes to trial and win 40%; trial and lose nothing--gambling ex. Buffalo Creek
33
Tort
1) Duty; 2) Breach of Duty; 3) Causation (Actual & Proximate); 4) Damages
34
Duty
not to kill or hurt them (duty to be careful with you)
35
Breach of Duty
go against duty (kill people)
36
Damages
- death - property damages - physical injuries - pain and suffering - funeral - environmental damages
37
Causation
did they cause damages? (damn)
38
What was the first thing Pittston did?
Said the most that anyone could get according to West Virginia State law is $10,000. So he said he would write people checks for that amount but no more.
39
Ford Pinto
mother killed in accident designed a car with gas in the back; cost $15 to recall all of the vehicles or less cost if they just pay when bad things happen
40
Pittston's Defenses
1) Act of God (Parkersberg; Hurricane; Earthquake)
2) BCMC/wasn't even us
3) State's Fault
4) People's Fault--> can move; no money
5) State of the Art
41
State tort claims act
can't sue state
42
State of the Art-Custom & Usage
doing it best way we know
-Do we know how to build a dam?
Do we have evidence it didn't work?
43
Settlement prices
```
Started with $64 million-->Stern
$3 million--> Pittston
$32.5 million--> Stern
$3 million --> Pittston
$13.5 million--> Stern (13,500 per person)
```
44
Contingency fee
25%
45
Para hours
Secretary hours and legal hours (misc hours)
46
Reason doesn't take it to trial
- hard for witness on stand
- 64 million might break Pittston
- Pressure from people to settle it
- bankrupt (last group paid plaintiffs)
47
Power of Gov't Regulation
found in Constitution Article 1 section 8 interpreted by US supreme court
48
Market Failure 4 areas
1) Imperfect information
2) Monopoly
3) Externalities
4) Public Goods
49
Imperfect information
- gov't mandates nutrition on bottle
- forced franchise calorie (McDonald's)
- know to make informed decisions
- most of the time don't get accurate information
50
Monopoly
bad in US
| believe competition greater benefit
51
Externalities
not all costs of a good or service are paid for by those responsible (pollution)
52
Public Goods
things that can't be provided through the market (ex. hwy, national defense)
53
Interstate Commerce
commerce between states; 1964 when Civil Rights of 1964 passed
54
1954 Supreme Court Case
Brown vs Board of Education; Plessy vs Fergusen
- -set up principle--Separate but equal
- could segregate public schools as long as equal schools
55
Brown vs Board of Education
1954; struck down separate but equal
| -1954-1964 King Speeches, lunch counter, Rosa Parks
56
Title 2 of Civil Rights Act of 1964
you can't discriminate in a place of public accommodation (any place serves public) against people based on 5 factors
57
5 Factors
```
1-race
2-color
3-sex
4-religion
5-national origin
```
58
My place of private accommadation
yes can discrimminate
59
Landmark Case
-use in bakery refused to serve gays
60
Heart of Atlanta motel 1964
- large multipart holding
- don't have to serve blacks because don't have anything to do with interstate commerce
- so are all of their customers locals?
- no therefore interstate commerce is in effect
61
Title 2 of Civil Rights Act of 1964
valid exercise of congresses power under the commerce clause
| -saying ya they can do that
62
the interstate movement of persons
is commerce which affects more than 1 state
| -driving to Chicago buying gas in other state-interstate commerce
63
The protection of interstate commerce
is within the regulatory power of congress under the commerce clause whether or not the transportation of persons between states is commercial
-even if its not congress can still regulate it
64
Congresses action in removing the disruptive effect which it found racial discrimination has on interstate travel
is not invalidated because congress was also legislating against what it considered to be "moral wrongs"
65
IntraState Commerce (Alli BBQ)
small restaurant where you getting buns? out of state affects interstate commerce
-Grind own beef
if there were enough little restaurants refusing to serve people based on sales would affect interstate commerce because the black people can't eat anywhere--affects interstate commerce
66
Bakery
goes against religious belief
67
What can state do?
- state can regulate commerce
| - state and communities can regulate because by police power can regulate on health, safety, and morals
68
Dancing establishment
next to kid establishment
| stop them? can you?
69
State and local regulation of commerce
can both regulate through police power
70
Police power
anything relating to health, safety, or morals of a community (ex water barricade)
71
Local morals
strip club
72
Agency
any governmental unit other than the legislature or the courts, usually created by legislature because not all regulation physically can be handled by legislative body
-all agencies pass rules
73
Setup
miniature governments; Department of Home Land Security; if created by legislature have enabling legislature
74
enabling legislature
unable to exist; created by executive government have to create own guidelines
75
Executive function of agency
- oversight of agency
- implementation (gov't enabling legislature) (President creates rules)
- Control for enforcement of their rules
76
Legislative function of agency
rule making
1) interpretative rules
2) procedural
3) Legislative important
77
Interpretative rules
interpret the enabling legislative
78
Procedural
noncontroverseral--> layout internal procedures
79
Legislative important
express policy and are treated exactly like laws
80
Pocession of Marajuana
Drivers license 6 month; legislative rule
81
Informal Rule making
write in and see what you want about change
82
Formal Rule making
hearing, can show up, voice concern
83
Exhausting administrative remedy
go through all of their appeals
84
Administrative law judge
3rd room speaker phone; not a real judge--> lawyer
| gang to lose hearing-bias
85
3M TA3
can't have sub-seen license plate
| -under Iowa law if name is sub-seen-- word let him have it
86
FCC vs Pacifica Foundation
```
words considered dirty- George Carlin
7 words can't say on TV
1972
turn off if you don't like hearing it.. what if you turn it on halfway through?
Dad and 6 year old boy
```
87
Federal Communications
in charge of fines; sued over Janet Jackson "nude" disclosure which was on for 1.5 seconds
marketing brass nipple gaurd
-8 years in hearing + tax $
88
George Carlins case
monologue on air 1972 couldn't play now; 6 year old child was listening when aired
1st amendment issue? can you do that?
89
FCC
power to regulate content of obscene material
90
Prurient
content that is meant to get you sexually aroused
obsence material is anything prurient
"Supreme court said we know it when we see it"
91
Supreme COurt
indecent FCC can regulate your context only between 10pm and 5am can be played
ex. Comedy, HBO, Serious (have to purchase them)
92
Corporations
most formal; require a filing of articles (articles of incorporation) in state in which you want to incorporate
Filing fee: get money out of you
-should hire lawyer
-have to file minutes of meetings with secretary of state
93
Centralized Managment
benefit; elect board of directors; elected by shareholders
94
Board of Directors
appoints officers
95
Officers
run operation day to day
96
Business Judgment Rule
if Corp makes bad decision--can't sue Ex. Coke
97
Martha Stewert
insider trading--stock broker called her and told her President is dumping his stock; she also falsified document Stocks went from $40 to $2
can sue if based on criminal act
98
Shlensky vs Wrigley 1968
Wrigley owned 80% of cubs; doesn't want to put lights in wrigley field; stockholders approach wrigley with white socks financial figures; more $ not at night because tradition in day; Shlensky and minority shareholders sue--comparable to Coke
99
Shareholder Derrivative Suite
sue on criminal not if on decision
100
Perpetual Existance
exists till intellectually taken apart
| Corporations have to have transfer ability of shares
101
Tax @ Corp
taxed at Corporation level and individual level
102
Double taxation
taxed at Corporate level and individual level
103
Partnerships
join up in law practice or account; going to be someone doing less than everyone else
104
Benefits of Partnership
- don't have to file anything (not required)
| - partnership agreement: including planning for failure
105
Downside of Partnerships
- unhappy
- joint and several liability: forget to file $300,000 lawsuit; screw up; other partner responsible
- criminal activity liable?--New or should have known
106
Durration of Partnership
dissolves and reforms every time a new person is added or dropped
usually unknown to public
107
Fiduciary Duty
- loyalty
- Accounting
- Non Competition
108
Breeched Judiciary Duty
Gallager
109
Veale vs Rose; Partnership Agreement
can have outside business interest as long as it doesn't compete with accounting partnership
One of the men owns a grocery store
-partners performance of accounting duties for grocery store
-yes breaching judiciary of loyalty and non competition
110
Sole Proprietorship
```
0 formality; bough a sign
-life is dependent on owner
-have to know personality type (type A)
-taxes (suck) --> Federal State 46%
pay quarterly taxes-- math error $125 put tax $ in separate account
-schedule great
```
111
Hibrids
Limited liability;
112
Subchapter S
part of internal reveunue code
small up to 100 shareholders
taxes as pass through
113
S Corporation
- pass through
| - up to 100
114
Limited Liability Company (LLC)
terminology changes
- not share holders--members*
- file articles of Corporation
115
LLP Partnership
- big Accounting firms
- for partners who are in a different country
- limits liability in country
116
Securities Law
New 1) Securities Act of 1933
| Old 2) Securities Exchange Act 1934
117
1933 Securities Act
initial public offerings (new)
| -new securities on market- FB
118
Prospectus
information to investor
1) information on Company and what it does
2) audited Financial statements which include (income statement, statement of cash flows, and balance sheet)
prepared by management given to accountants
119
1934 Securities Exchange act
traded on open market; required disclosure of information through quarterly and annual reports (cash flows, income statement, Balance sheet)
120
Insider trading
any person with knowledge not available to the public; tippers and tippees all insiders
121
Civil Actions
securities exchange commission can civil oppose 300% of profit or falsified document $750,000 per person
122
Willful violations Criminally of 34 and 33
- up to 20 years of jail time and
- up to $25 million of fines
- additionally of 300%
123
Antitrust Law
restraints of trade
| we like open free markets because we think that competition increases quality decreases cost
124
Sherman Antitrust Act 1890
persevering competition; forced by federal trade commission
125
Clayton Act 1914
forced by federal trade commission
126
Sherman Act
prohibitted
- restraints of trade
- Monopoly (1 seller or firm has more than 50% of market)
- passed over oil and railroads
127
Injunction
make you stop doing what you are doing
| -primary weapon
128
Clayton Act
-closes behavior gap leading up to monopoly and restraints of trade
129
Big Cement Co vs Little Cement Co
LCC 1 plant- family owned
| -Big--many and came into small town manufactured under manufacturing cost
130
Predatory pricing
lower costs to drive out and then go back up
131
Walmart
insulin drug bought from Walmart
| cheaper than from distributor
132
International ethics and law
1997 Globe Shrunk because of internet
contracts with international failure
specify in contract where going to be heard or stuck with international law
133
International Law
derived from treaties, conventions, and customs
134
Comity
should follow treaties and customs you agree to because it is the ethical thing to do, if failed to plan for failure alternatives go to international court of justice-not bound
135
International Court of Justice
very loose, not unified
ex. France
- offer and Acceptance
136
Foreign Corrupt Practices Act
prohibits bribery-illegal in US
| American Business men work in Russia and they are suppose to bribe them what do you do? can't bribe but can greece
137
Greece
regulatory expected payment to government official
| ex golf in Japan for $2000 no too much
138
Customs
place we get international law from
| exists when 2 conditions are met
139
2 conditions under customs
1) when an action is followed consistently and repeatedly
| 2) considered binding by the nations observing it
140
Direct Contract
not evidence of multinational enterprise
| living in separate countries form contract together
141
Evidence of Multinational Enterprise
1) foreign Representation
2) Joint-Venture
3) Branch office or Subsidiary
4) Licensing
5) Franchising
142
Foreign Representation
American Party sells in a foreign country through a representative agent or distributor
143
Joint-Venture
2 parties enter an agreement for one project for a specified time period (ex John Deer and Yamar (Japan))
144
Branch Office or Subsidiary
division liable for branch office in foreign country not liable for subsidiary in foreign country
145
Licensing
Coca-Cola
| Very adaptable to cultural taste; sell license for representative to sell products
146
Franchising
McDonald's
Last evidence of multinational enterprise
tel you where to buy supplies
pays franchiser for a license to use trademarks, formulas, and other trade secrets
147
Burger King
ex of Franchise
Hawaiian burger
tight franchise
paying for advertising, supplies of company
148
Government defenses in international law
1) Act of State Doctrine
| 2) Sovereign Ammunity
149
Act of State Doctrine
a judge in one country will not question the decisions of another country acting within their own boarders
ex. women in Saudi Arabia
150
Sovereign Ammunity
A US citizen cannot sue a foreign country in the US court unless 1) the action happened inside the US 2) foreign nation agrees to be sue in US courts (ex. Germany sued in NY) 3) the action has a substantial economic impact inside US
151
Martin vs Republic of South Africa
1984; political policy; South Africa out numbered
U of I-- a lot of $ invested in South Africa Government
on parents weekend; students made signs and chanted
Martin--dancer; US Citizen, black; got into a car accident and needed medical attention 2 hospitals wouldn't take him got him on plane to come back to US but permanently disabled because it took too long
lost not substantial amount of impact
