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Business Law I-Week4
Crimes and Torts
| Term | Definition |
|---|---|
| Crime | Violation of the law that is punished as an offense against the state or government. |
| Misdemeanor | Criminal offense with a sentence of less than one year that is neither treason nor a felony. |
| Felony | Criminal offense that is punishable by confinement in prison for more than one year or by death, or that is expressly stated by statute to be a felony. |
| T or F: An act can be may be a felony in one state and a misdemeanor in another. | True. |
| A crime generally consists of what two elements? | A mental state (scienter or intent) and an act or omission. |
| T or F: Harm is an essential element of a crime. | False. |
| Mental state (scienter or intent) | Does not require an awareness or knowledge of guilt. In most crimes, the voluntary commission of the act is sufficient for proving mental state. |
| Act or Omission | Specific statutes define the conduct , or actus reus, that, when coupled with sufficient mental state, constitutes a crime. |
| T or F: In some cases, persons who did not necessarily commit the criminal act itself are still held criminally responsible for acts committed by others. | True. |
| Corporate Liability | Corporations are held responsible for the acts of their employees. A corporation may also be held liable for crimes based on the failure of its employees to act. |
| Forfeiture | When a defendant is convicted of a crime, the court may also declare that the defendant’s rights in any property used or gained from a crime (an instrument of that crime) be confiscated. |
| Corporate Integrity Agreement (CIA) | Judges are able to, in effect, place corporations on probation. Under this, companies are assigned monitors who are on-site and follow up to be sure the company is not committing any further violations. |
| Federal Sentencing Guidelines | Federal standards used by judges in determining mandatory sentence terms for those convicted of federal crimes. |
| White-Collar Crime Penalty Enhancement Act of 2002 | Federal reforms passed as a result of the collapses of companies such as Enron; provides for longer sentences and higher fines for both executives and companies. |
| The Victims of Crime Act of 1984 | Creates a federal Crime Victims Fund. |
| The Victim and Witness Protection Act of 1982 | Authorizes the sentencing judge in a federal district court to order, in certain cases, that the defendant make restitu- tion (restoration) to the victim or pay the victim the amount of medical expenses or loss of income caused by the crime. |
| T or F: Penalties are paid to the government. | True |
| White-Collar Crimes | Crimes that do not use nor threaten to use force or violence or do not cause injury to persons or property. |
| Conspiracy | Agreement between two or more persons to commit an unlawful act. |
| Racketeer Influenced and Corrupt Organizations (RICO) Act | Federal law, initially targeting organized crime that has expanded in scope and provides penalties and civil recovery for multiple criminal offenses, or a pattern of racketeering. |
| Money Laundering Control Act (MLCA) | The act prohibits the knowing and willful participation in a financial transaction when the transaction is designed to conceal or disguise the source of the funds. |
| Predicate Act | Qualifying underlying offense for RICO liability. |
| Bribery | The act of giving money, property, or any benefit to a particular person to influence that person's judgement in favor of the giver. |
| Commercial Bribery | A form of bribery in which an agent for another is paid or given something of value in order to make a decision on behalf of his or her principle that benefits the party paying the agent. |
| Extortion | Illegal demand by a public officer acting with apparent authority. |
| Blackmail | Extortion demands made by a nonpublic official. |
| Foreign Corrupt Practices Act (FCPA) | Federal law that makes it a felony to influence decision makers in other countries for the purpose of obtaining business, such and services. |
| Forgery | Fraudulently making or altering an instrument that apparently creates or alters a legal liability of another. |
| Uttering | A crime of issuing or delivering a forged instrument to another person. |
| Perjury | Consists of knowingly giving false testimony in a judicial proceeding after having been sworn to tell the truth. |
| False Claims | The federal false statement statute makes it a crime to knowingly and willfully make a false material statement about any matter within the jurisdiction of any department or agency of the United States. |
| Embezzlement | Statutory offense consisting of the unlawful conversion of property entrusted to the wrongdoer. |
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