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Business chpt. 8-13

QuestionAnswer
White Collar Crime financially-motivated nonviolent crime committed for illegal monetary gain
Criminal penalties monitor,shame, criminal sentencing
Tort a civil wrong-a committing a tort is an unethical decision by an individual.
defamation slander refers to a malicious, false statement or report on an individual or company
interference third party interferes
strict liability makes a person legally responsible for the damage and loss caused by his or her acts and omissions regardless of culpability
express warranty An agreement between the contract seller (dealer, manufacturer or independent company) and the buyer of a product to provide repair or replacement for covered components of the product for some specified time period.
nuisance civil wrong of creating a situation that interferes with others' ability to enjoy the use of their properties
2 categories determining areas for business growth Non attainment areas and prevention of significant deterioratio(PSD)
Comprehensive environmental response, compensation and liability act (CERCLA) authrozed funds for the cleanup of areas that were once disposal sites for hazardous wastes;
types of pollution conventional, non conventional, and toxic
contract promise between two parties
sources of contracts UCC, common law, e commerce
uniform commercial code (UCC) governs sales of contracts for goods, commercial paper, and security transfers
common law governs contracts that have land or services as their subject matter.
E-Commerce commercial transactions electronically
article 2A Leases
article 2 sales of good & services
Elements of Tort negligence The duty, breach of duty, causation, proximate cause, and damages.
express contract contract that is written or orally agreed to
implied contract contract that arises from parties' voluntary conduct
bilateral contract contract of two promises; one from each party
unilateral contract contract made up of a promise for performance
written on contract real estate, inheritance, obligated to pay debt, 3rd party obligated to pay debt
reasons for a voidable contract a mistake, misrepresentation or fraud; undue influence or duress; one party's legal incapacity to enter a contract
Created by: 866665113
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