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Gen Bus 310 > Mod 5 > Flashcards

Mod 5 Flashcards

1
Q

Breach

A

When one party does not perform as promised in a contract

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2
Q

Capacity

A

Ability to understand both the nature and consequence of one’s acts

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3
Q

Consideration

A

Something of value given by both parties to a contract that induces them to agree to exchange mutual performances

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4
Q

Contract

A

A binding agreement between 2 or more parties

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5
Q

Disaffirm

A

To revoke or deny a contract

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6
Q

Express contract

A

A contract which specifically states all of its elements, either orally or in writing

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7
Q

Implied in fact contract

A

A contract agreed upon by nonverbal conduct rather than by explicit words

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8
Q

Legality

A

The state of being in accordance with the law

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9
Q

Mirror image rule

A

The requirement that a contract be accepted exactly as it is, without modifications

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10
Q

Mutual assent

A

An agreement by both parties to enter into a contract

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11
Q

Restatement of contracts

A

A compilation of the general principles of contract common law

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12
Q

Uniform commercial code

A

A set of suggested laws concerning commerce with the intent to provide uniformity across states to simplify business activity

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13
Q

Valid contract

A

A contract that complies with the four essential elements of a contract and is binding and enforceable on all parties

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14
Q

Copyright

A

The exclusive right to reproduce, publish, sell, or distribute the matter and form of an artistic effort

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15
Q

Design patent

A

A patent that offers protection for a way a product looks

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16
Q

Fair use doctrine

A

Permits limited use of copyrighted material without acquiring permission from the rights holder

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17
Q

Infringe

A

To encroach upon in a way that violates the law or the rights of another

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18
Q

Intellectual property

A

Non physical property that is the product of original thought and the law may protect

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19
Q

Novelty, utility, nonobviousness

A

Three criteria that must be met to qualify for patent protection

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20
Q

Misappropriation

A

The unauthorized use of another’s name, likeness, or identity without permission, resulting in harm to that entity

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21
Q

Patent

A

An exclusive right granted by law to an inventor to make, use, and sell an invention for a limited period (20 years from filing of application)

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22
Q

Reverse engineering

A

Process of taking apart and object to see how it works to duplicate the object

It is legal to acquire a trade secret through reverse engineering

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23
Q

Trademarks

A

A distinctive mark or feature that is particularly characteristic of or identified with an entity, product, or brand

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24
Q

Trade secrets

A

Any business info that is proprietary and gives the business a competitive advantage

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25
Utility patent
A patent that protect the way an invention is used and works
26
At will employment
The contractual employment relationship where the business can fire a worker without warning and justification
27
Bona fide occupational qualification
Employment qualifications that employers are allowed to consider while making decisions about hiring and retaining employees
28
Business necessity
A legit business purpose that justifies an employment practice as valid and necessary for the business
29
Disparate impact
A discriminatory business practice that has a greater impact on one group over another
30
Disparate treatment
A discriminatory business practice where an employee is treated differently than other employees who were in a similar situation
31
Hostile environment sex harassment
Occurs when a supervisor or other employee makes sexually suggestive comments, gestures, advances, pictures, text, touch, or humor that unreasonably interferes with work performance
32
Quid pro quo sexual harassment
Occurs when a more senior manager or employee demands sexual favors in exchange for some workplace benefit
33
Sexual harassment
Unwelcome sexual advances, requests for favors, and other verbal or physical harassment of a sexual name
34
Actual cause
A cause or action without which the event could not have occurred
35
Assumption of risk
A defense in the law of torts that reduces a plaintiff’s right to recovery if the defendant can demonstrate that the plaintiff voluntarily and knowingly assumed the risks associated with the activity at issue
36
Breach of duty
Occurs when one person or company has a duty of care owed towards another person or company but fails to live up to that standard
37
Deep pockets theory
In tort law, employers will often be held liable for the actions of a negligent employee Since employers usually have more money than the employee to pay for negligence, they would be in a better position to pay the victims
38
Defamation
Intentionally making untrue statements about an individual in the presence of another or communicated to a third party that has the effect of lessening the individual’s reputation in the community
39
Design defect
A problem with the product’s design that makes the product inherently dangerous or useless, even if it is manufactured perfectly with the best quality materials
40
Disparagement
Intentionally making false statements about the quality or ownership of someone’s goods
41
Duty
A legal obligation that entails mandatory conduct or performance
42
Express warranty
A verbal or written statement that guarantees that a product is of a certain quality or will work in a certain way or for a certain amount of time
43
Failure to adequately package
Relates to the duty the manufacturer has to package products appropriately and safely for the consumer
44
Failure to adequately warn
A party will be held liable for injuries caused to another, where the party had the opportunity to warn of any dangers of the product but failed to do so
45
Implied warranty
A guarantee that the item sold is merchantable and fit for the purpose intended An implied warranty is in addition to an express warranty provided at the time of sale to protect consumers who might otherwise pay for products that are not as represented by the merchant
46
Intentional tort
A civil wrong resulting from an intentional act of the defendant
47
Manufacturing defect
A defect in a product resulting from a departure from its design specifications during production
48
Negligence
Failure to use reasonable care, resulting in damage or injury to another
49
Negligence action or personal injury
Harm done to a party through the unreasonable and foreseeable risky actions of the defendant
50
Palming off
Misrepresenting someone else’s good or services as one's' own in business
51
Product liability
The area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible fo the injuries those products cause
52
Proximate cause
Determining whether or not an event is sufficiently related to an injury to be held as the cause of that injury
53
Respondent superior
A legal doctrine which states that an employer is responsible for the actions of employees performed within the course of their employment
54
Strict liability
A legal doctrine that makes a person or company responsible for their actions or products which causes damage regardless of any negligence or fault on their part
55
Tort
A civil wrong which unfairly causes someone else to suffer loss or harm resulting in legal liability for the person who commits the wrongful act
56
Tortfeasor
An individual who commits a wrongful act that injures another and which the law provides a legal right to seek relief
57
Vicarious liability
A legal doctrine that assigns liability for an injury to a person who did not cause the injury but who has a particular legal relationship to the person who did act negligently
58
Administrative procedures act
A federal statute that governs how administrative agencies of the government of the United States may propose and establish regulations
59
Administrative law judge
A judge who both presides and issues judgment over the claims and disputes involving administrative laws and agencies
60
Due process of law
A fundamental, constitutional guarantee that proceedings will be fair, the government will notify affected parties of the proceedings, and the parties have the opportunity to be heard before the government acts to take away their rights
61
Enabling statute
Congress delegates its rulemaking authority to agencies via enabling statutes. These statutes establish and authorize administrative agencies to issue specific rules and regulations and carry out other activities to fulfill broad aims defined by Congress
62
Federal register
The official daily publication for rules, proposed rules, and notices of federal agencies and organizations, as well as executive orders and other presidential documents
63
Quasi judicial authority
The powers granted to a public administrative agency to objectively determine facts and draw conclusions from them to provide the basis of an official action, often resembling the procedures of a court of law
64
Quasi legislative authority
When an administrative agency exercises its rule-making authority. Administrative agencies acquire this authority to make rules and regulations that affect legal rights through statutes. This authority is an exception to the general principle that laws affecting rights should be passed only by elected lawmakers
65
4 Requirements for a contract
Legal subject matter Capacity of parties to enter into contracts Exchange of consideration or something of agreed value Mutual assent between parties
66
Infants
Those under legal age
67
Intoxicants
Those whose mental faculties are temporarily impaired
68
Incompetents
Mental impairment that would prevent them from understanding
69
Requirements of mutual assent
Definiteness of terms Understand what is being offered Intent Ensure the offerer meant to make an offer Communication Must be made to the offeror’s agent by the offeree

Gen Bus 310 (15 decks)

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