Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Business Law I > Unit 1 > Flashcards

Unit 1 Flashcards

(87 cards)

Start Studying
1
Q

Uniform Acts

A

model statues drafted by private bodies of lawyers and scholars. They do not become law until legislature enact them. 3

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Common Law

A

Judge made law or case law; not governed by statutes. “stare decisis - let the decision stand” 3

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Restatements

A

Collections of common law promulgated by the American law institute covering various areas of law. 4

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

real property

A

fixed property, principally land and buildings

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Personal property

A

movable property

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Equity

A

Mid-evil body of law concerned with those remedies that could not be sought in common law court. 6

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

injunction

A

Equity principle: Court order forbidding a party to do some act or commanding him to perform some act. 7

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

specific performance

A

Equity principle: a contract remedy whereby a party is ordered to perform according to the terms of her contract. 7

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

reformation

A

Equity principle: In which the court rewrites the contract terms to reflect the parties’ real intentions. 7

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

rescission

A

Equity principle: A cancellation of a contract and a return of the parties to their pre-contractual position. 7

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Administrative agencies obtain the ability to make a law through….

A

…..delegation or grant of power from the legislature. 7

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Treaties are made by the president with foreign government(s) and approved by …

A

2/3 of U.S. Senate 7

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Federal Supremacy

A

The U.S. Constitution, federal laws, and treaties are the supreme law of the land. 7

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

When a treaty conflicts with a federal statute over a domestic matter….

A

…..the latest enacted measure usually prevails. 7

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Substantive Law

A

Sets the rights and duties of people as they act in society. 9

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Procedural law

A

Controls the behavior of government bodies (mainly courts) as they establish and enforce rules of substantive law. (example: the rules describing proper conduct of a criminal trial) 9

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Public law

A

Concerns the powers of government and the relations between government and private parties. 9

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Private law

A

Legal rules that enable parties to set rights and duties they owe other (contracts and property) 9

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Legal positivism

A

School of jurisprudence: Defines long as the command of a recognized political authority. These people believe all laws should be obeyed whether just or unjust. 10

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Natural Law

A

School of jurisprudence: Adherents usually contended that some higher law or set of universal moral code of rules binds all human beings in all times and places. 10

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

American Legal Realism

A

School of jurisprudence: they define law as the behavior of public officials (mainly judges) as they deal with matters before the legal system. 10

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Sociological jurisprudence

A

School of jurisprudence: law that is a reflection of societies dominant interest and values throughout its history 11

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

The six functions of law

A
  1. peacekeeping
  2. Checking government power and promoting personal freedom
  3. facilitating planning and the realization of reasonable expectations (contract law)
  4. promoting economic growth through free competition
  5. promoting social justice
  6. protecting the environment 12
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

3 major statutory interpretation techniques used by courts

A
  1. plain meaning (exact meaning of the statute)
  2. Legislative history and legislative purpose (to determine the states purpose and intent)
  3. General public purpose; widely accepted notions of public policy such as criminalization of racism 17
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
what is "standing to sue"
requirement that a plaintiff have some direct, tangible, and substantial stake in the outcome of the litigation 21
26
what is a "declaratory judgement"
often used by a party to avoid potential lawsuit; allows parties to determine their rights and duties even though there controversy has not advanced to the point where harm has occurred and legal relief may be necessary 21
27
________ is not a court of record and therefore doesn't keep a transcript of proceedings conducted.
courts of limited jurisdiction 29
28
In Personam Jurisdiction is based on...
the residence, location, or activities of the defendant 30
29
Forum selection clause
clause requiring parties to settle disputes in a particular state 35
30
Diversity Jurisdiction
Subject matter jurisdiction: - case is between citizens of different states - the amount exceeds $75,000 35
31
federal question jurisdiction
Subject matter jurisdiction: when the case arises under the Constitution, laws, or treaties of the U.S.
32
The principal place of business for determining jurisdiction is disputes is determined by the __________
Nerve center approach - where the corporation has their headquarters 38
33
summons
Notice to the defendant that they will be sued 40
34
pleadings include these 3 things in when parties file in court:
- complaint - answer - reply (in some states) 40
35
Affirmative defense
A successful affirmative defense enables the defendant to win the case even if all allegations in the complaint are true. This is provided in the "answer" 40
36
demurrer
Motion to dismiss for failure to state a claim upon which relief can be granted (usually because no law allowing a victim to recover damages) 41
37
deponent
person being deposed 41
38
interrogatories
written questions directed to the other party (usually 30 day time limit) 41
39
request for admission
One parties written demand that the other party admit or deny, in writing, certain statements of supposed fact or of the application of the law to fact (usually 30 day time limit) 41
40
pretrial conference
meeting between the judge and parties of a lawsuit in which the judge try to get the attorneys to: - agree to stipulate, or agree to, the resolution of certain issues to simplify trial - agree to settle and avoid trial altogether 43
41
directed verdict
takes verdict away from the jury and provides judgment to one party. Usually used when evidence presented by one party will only lead to one outcome. 45
42
Judgment notwithstanding the verdict
When one party wins a judgment, EVEN though the jury verdict is NOT in favor of them. - usually used if the moving party previously motioned for a directed verdict. - Same standard used to decide directed verdicts. 45
43
Class action
allows 1 or more persons to sue on behalf of themselves an all other who have suffered from the same wrong 46
44
______ have original jurisdiction over class actions in which the amount in controversy exceeds _____ and any member of the of the plaintiff class resides in a different state than the defendant.
federal district courts, $5 million 47
45
Alternative Dispute Resolutions
- settlement - arbitration - court-annexed arbitration - mediation - summary jury trial - minitrial 50
46
arbitration
submission of a dispute to neutral, non-judicial third party who issues a binding decision 51
47
arbitration clause
requires a party to settle disputes through arbitration 51
48
court-annexed arbitration
court ordered civil suit to be diverted into arbitration versus trial 54
49
mediation
neutral third party helps the parties reach a resolution but can NOT make decisions. Mediation agreement is drawn up that is enforced under contract law principles 54
50
summary jury trial
mock jury trial that helps litigants with vastly different ideals a simulation of what would happen in actual trial in hopes of settlement 54
51
mintrial
abbreviated "private trial" where litigants present their case to panel, an attorney or possibly a retired judge. The advisor offers their opinion on the case and then the parties attempt to negotiate a settlement. 54
52
Which amendment supports federalism
10th amendment 59
53
3 main congressional powers
- regulate interstate commerce (commerce clause) - lay and collect taxes - spend for the general welfare 61
54
process of incorporation
Almost all bill of rights provisions now applied to the states 71
55
means end test
the courts balance of between and individuals rights and the social needs that may justify their suppression 72
56
what are the 3 means end tests
1. rational basis test: Government action need only have a reasonable relation to the achievement of a legitimate government purpose to be constitutional 2. Intermediate scrutiny: ex; sex discrimination 3. Full strict scrutiny: the challenged law must be necessary to the fulfillment of a compelling government purpose 72
57
does a corporation have a full first amendment protection?
The Supreme Court says yes 73
58
commercial speech is provided _____ protections
intermediate level of first amendment 82
59
non commercial speech (i.e.: books, movies, magazines) is _________ protected
FULLY 82
60
commercial speech
Speech that proposes a commercial transaction 79
61
commercial speech that unlawful or misleading receives _____ protection
NO 82
62
4 part test to determine constitutionality of commercial speech restriction
1. it must be lawful and not misleading 2. whether the asserted governmental interest is substantial 3. whether the regulation directly advances the asserted governmental interest 4. must be not be more extensive than necessary to serve that interest 81
63
procedural due process
One is entitled to adequate notice of the government action to be taken against him and to some sort of fair trial or hearing before that action can occur 83
64
Substantive due process
The rules that set standards of behavior for organized social life (ex: arguments that adultery should not be a crime) 83
65
equal protection against discrimination is protected under the
14th amendment "equal protection clause"
66
contract clause
no state shall...pass any...law impairing the obligation of contracts 89
67
preemption
federal law hold supremacy over state law 91
68
Takings clause (4 elements)
1. property 2. taking (often the governments condemnation of property) 3. must be taken for PUBLIC USE 4. property owner must receive JUST COMPENSATION 92
69
Rights Theory
Certain INDIVIDUAL human rights are fundamental and must be respected by other humans. As an actor, each of us face a moral compulsion not to harm the fundamental rights of others. 101
70
Justice Theory
a just distribution of societies resources by which a society's benefits and burdens are allocated fairly among its members 102
71
Utilitarianism
Maximizing utility means achieving the highest level of satisfaction over dissatisfactions. Focus is on society as a whole. 103
72
Profit Maximization
Requires a decision-maker to maximize a business's long-run profits within the limits of the law.... a Business acting in one's selfish interests 104
73
Non Sequitur
A conclusion that does not follow from the facts or premises one sets out. The speaker is missing the point or coming to an irrelevant conclusion 117
74
appeals to pity
this argument generates support for a proposition by focusing on the victims predicament. 118
75
false analogies
since something is like something else in one or more ways, is also like it another respect 118
76
Begging the question
When an arguer takes for granted or assumes the thing that she is setting out to prove. This is Circular Reasoning. (ex: you should tell the truth because lying is wrong) 118
77
Argumentum ad Populum
an emotional appeal to popular believe, values, or wants. The fallacy in this argument is the assumption something is true because many or all people want it. 118
78
Bandwagon Fallacy
an argument that we should or should not do something merely because one or more other people or firms do or do not do it 119
79
Argument ad Baculum
And arguments that uses threats or fear to bolster it's position 119
80
Argument ad Hominem
This tactic attacks the speaker, not the validity of their reasoning 119
81
Argument from Authority
This arguments relies on the quality of an expert or person in a position of authority, not the quality of the experts or person of authority's argument. 120
82
False Cause
This fallacy results from observing 2 events a concluding that there is a casual think between them when there is no such link 120
83
The Gamblers Fallacy
The mistaken belief that independent prior outcomes affect future outcomes 120
84
Reductio ad Absurdum
Carries an argument to its logical end, without considering whether it is an inevitable or probable result. "if we let you do it, we have to let everyone do it" 121
85
Appeals to Tradition
Because something has been done a certain way in the past, it should be done that same way in the future 121
86
The Lure of the New
Opposite of Appeals to Tradition; the idea that we should do or buy something because it is "just released" or "improved" 121
87
Sunk Cost Fallacy
An attempt to recover invested time, money, and other resources, by spending still more time, money, or other resources 121

Business Law I (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions