Comprehensive Business Law Exam

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PLAW 4443 - Advanced Legal Research and Theory Post Program Exam
Carley Hoyle
Fichas por Carley Hoyle, actualizado hace más de 1 año
Carley Hoyle
Creado por Carley Hoyle hace casi 2 años
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Resumen del Recurso

Pregunta Respuesta
Agency Theory Principle and Agent agent works for principal principal has duty to indemnify (protect) agent
Elements of a Contract (1) Agreement (2) Consideration (3) Contractual Capacity (4) Legality
Agreement Offer and Acceptance
Consideration The bargain for exchange
Contractual Capacity Must have mental capacity to understand that entering into a contract will have ramifications and can understand them. Minors, adjudicated mentally incompetent, intoxicated persons
Legality Contract must be for a legal purpose
Tort Classifications Intentional Unintentional Strict or Product Liability
Intentional Torts Concept: Focus on intent Damages: Compensatory and Punitive
Unintentional (Negligence) Torts Elements: Duty of care - reasonable person under same circumstances Breach of Duty Causation - "but for" test Damage or injury - degree of permanence Foreseeable
Strict or Product Liability Concept: put out a product that injuries someone, no intent, but poorly made, no warning labels Damages: Compensatory (make whole)
Civil law burden of proof Preponderance of the evidence
Criminal law burden of proof Beyond a reasonable doubt
Elements of Guilt Actus reus: guilty act Mens rea: guilty mind
Criminal and Civil Torts Assualt and Battery
Business Organizations Sole Proprietorship Partnership Corporations Hybrids
Sole Proprietorship One owner Difficulty financing Unlimited liability
Partnership Share profits and losses "Pass-through" taxation
Corporation Ownership is represented by stock generally many owners, one individual can hold all stock, corps can "own" other corps Double taxation
Hybrids Multiple types of corps and partnerships ex. Limited Liability Company (LLC)
Uniform Commerical Code (UUC) Covers commercial transactions
UCC Art 2 Covers sales: Transfering of title from seller to buyer for price
UCC Art 2A Covers leases - Owner of property is transferring right to use for price
Shipment Contracts Once goods leave seller, no longer responsible for goods
Destination Contract Seller is responsible for goods until goods reach buyer
Utilitarianism Greatest good for the greatest number of people includes the cost-benefit analysis
Golden Rule Do unto other as you would have them do unto you
Moral Minimum Complying with legal standard
Principle of Rights How the decision affects the rights of others
Corporate Social Responsibility Businesses should act ethically and be accountable to society for their actions
Stakeholders Those that have an interest or are impacted by company decisions
1st Amendment Freedom of religion, speech, press, assembly, and petition
5th Amendment Right to remain silent Double jeopardy Right to due process
4th Amendment Freedom from unreasonable searches and seizures
Title VII of the Civil Rights Act of 1964 Forbids discrimination on the basis of sex, race, color, religion, or national origin in all areas of employment
Bilateral Contract Promise for a promise
Unilateral Contract Promise for an act
Statute of Frauds State statute under which certain types of contracts must be in writing to be enforceable
5 Contracts that must be in writing (1) sale of an interest in land (2) performance that extends 1yr (3) surety; assumes someone else's debt (4) marriage (5) sale of goods over $500
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