click below
click below
Normal Size Small Size show me how
Business Law 1
Question | Answer |
---|---|
common law | case after case. •case law: (civil law) a law established by following earlier judicial decisions |
statutes | a law passed by a legislative body. statutes command or prohibit something, or declare policy.[ |
substantive rules | state the rights of the parties |
procedural rules | how a court should go about settling disputes |
stare decisis | let the decision stand |
public law | rights and obligations of governments as they deal with the nation's citizens |
sovereign | recoginzed political power whom citizens obey |
ethics | how people should act |
alternative dispute resolution | any other formal or informal process used to settle disputes without resorting to a trial |
litigation | lawsuits, the process of filing claims in court, and go to trial |
jurisdiction | courts power to hear a case |
appellant | party filing appeal |
appellee | party opposing the appeal |
briefs | written arguments in a case |
reversed | nullified |
affirmed | permitted to stand |
writ of certiorari | asking the court to hear the case |
pleading | documents that begin a lawsuit |
complaint | short, plain statement of the facts she is alleging and the legal claims she is making |
default judgement | meaning a decision that the plaintiff wins without a trial |
counter claim | second lawsuit by the defendant against the plaintiff |
reply | answer to a counter claim |
motion | formal request to the court |
motion to dismiss | request that the court terminate a case without permitting it to go further |
discovery | pre trial opportunity for both parties to learn strengths and weaknesses of opponents |
deponent | person being questioned |
summary judgement | a ruling by the court that no trial is necessary because there are no essential facts in dispute |
voir dire | to speak the truth |
preponderance of the evidence | plaintiff's burden in a civil lawsuit is to prove its case |
direct examination | when a lawyer asks her own witness a question |
cross examine | asking questions of opposing witnesses |
directed verdict | a ruling that the plaintiff has entirely failed to prove some aspect of her case |
judgment non obstante veredicto | a judgment notwithstanding the jury's verdict |
precedent | earlier decisions by the state appellate courts on similar or identical issues |
affirm | allow decision to stand |
reverse | to nullify |
common law | case after case |
statutes | a law passed by a legislative body |
substantive rules | state the rights of the parties |
procedural rules | how a court should go about settling disputes |
stare decisis | let the decision stand |
public law | rights and obligations of governments as they deal with the nation's citizens |
sovereign | recoginzed political power whom citizens obey |
ethics | how people should act |
alternative dispute resolution | any other formal or informal process used to settle disputes without resorting to a trial |
litigation | lawsuits, the process of filing claims in court, and go to trial |
jurisdiction | courts power to hear a case |
appellant | party filing appeal |
appellee | party opposing the appeal |
briefs | written arguments in a case |
reversed | nullified |
affirmed | permitted to stand |
writ of certiorari | asking the court to hear the case |
pleading | documents that begin a lawsuit |
complaint | short, plain statement of the facts she is alleging and the legal claims she is making |
default judgement | meaning a decision that the plaintiff wins without a trial |
counter claim | second lawsuit by the defendant against the plaintiff |
reply | answer to a counter claim |
motion | formal request to the court |
motion to dismiss | request that the court terminate a case without permitting it to go further |
discovery | pre trial opportunity for both parties to learn strengths and weaknesses of opponents |
deponent | person being questioned |
summary judgement | a ruling by the court that no trial is necessary because there are no essential facts in dispute |
voir dire | to speak the truth |
preponderance of the evidence | plaintiff's burden in a civil lawsuit is to prove its case |
direct examination | when a lawyer asks her own witness a question |
cross examine | asking questions of opposing witnesses |
directed verdict | a ruling that the plaintiff has entirely failed to prove some aspect of her case |
judgment non obstante veredicto | a judgment notwithstanding the jury's verdict |
precedent | earlier decisions by the state appellate courts on similar or identical issues |
affirm | allow decision to stand |
reverse | to nullify |
veto | it is not law |
promulgate | to create a new rule |
subpoena | order to appear at a particular time and place to provide evidence |
adjudicate | hold a hearing about an issue and then decide it |
framers | founding fathers |
constitution | series of compromises about power |
bill of rights | first 10 amendments |
supremacy clause | the constitution, and federal statutes and treaties, shall be the supreme law of the land |
judicial review | power of federal courts to declare a statute or governmental action unconstitutional and void |
judicial activism | courts willingness or eagerness to become involved in major cases |
judicial restraint | an attitude that courts should leave lawmaking to legislators and nullify a law only when it unquestionably violates the constitution |
constitutional rights | protected against governmental acts |
commercial speech | if false or misleading, may be outlawed altogether |
procedural due process | before the government takes liberty or property, the affected person has a fair chance to oppose the action |
takings clause | prohibits a state from taking private property for public use without just compensation |
eminent domain | government taking land |
equal protection clause | governments must treat people fairly |
tort | a violation of a duty imposed by the civil law |
intentional torts | harm caused by a deliberate action |
negligence and strict liability | injuries caused by neglect and oversight rather than by deliberate conduct. |
element | a fact that a plaintiff must prove to win a lawsuit |
opinion | a valid defense in a defamation suit because it cannot be proven true or false |
pubic official | police chief |
public figure | movie star |
malice | defendant knew the statement was false or acted with reckless disregard of the truth |
qualified privilege | exists when two people have a legitimate need to exchange information |
false imprisonment | intentional restraint of another person without reasonable cause and without consent |
batter | intentional touching of another person in a way that is unwanted or offensive |
assault | defendant does some act that makes a plaintiff fear imminent battery |
trespass | intentionally entering land that belongs to someone else or remaining on the land after being asked to leave |
conversion | taking or using someone's personal property without consent |
single recovery principle | requires court to settle the matter once and for all by awarding a lump sum for past and future expenses |
punitive damages | intended to punish the defendant for conduct that is extreme and outrageous |
fraud | injuring another person by deliberate deception |
commercial exploitation | prohibits the use of someone's likeness or voice for commercial purposes |
licensee | anyone on the land for her own purposes but with the owner's permission |
invitee | someone on the property as of right because it is a public place or a business open to the public |
factual cause | if the defendant's breach physically led to the ultimate harm |
res ipsa loquitur | the thing speaks for itself |
compensatory damages | amount of money that the court believes will restore him to the position he was in before the defendant's conduct cause an injury. |
punitive damages | money intended not to compensate the plaintiff but to punish the defendant |
contributory negligence | if the plaintiff is even slightly negligent she recovers nothing |
comparative negligence | plaintiff may generally recover even if she is partially responsible |
assumption of the risk | a person who voluntarily enters a situation that has an obvious danger cannot complain if she is injured |
judicial restraint | a court taking a passive role and requiring the parties to fulfill whatever obligations the agreed to |
judicial activism | courts ignore certain provisions of a contract, or an entire agreement |
contract | a promise that the law will inforce |
bilateral contract | both parties make a promise |
unilateral contract | on party makes a promise that the other party can accept only by doing something |
express contract | two parties explicitly state all important terms of their agreement |
implied contract | words and conduct of the parties indicate that they intended an agreement |
executory | when one or more parties has not fulfilled its obligations |
executed | when all parties have fulfilled their obligations |
valid contract | one that satisfies all of the law's requirements |
unenforceable agreement | when parties intend to form a valid bargain but a court declares that some rule of law prevents enforcing it |
voidable contract | when the law permits one party to terminate the agreement |
void agreement | one that neither party can enforce |
quantum meruit | plaintiff gets as much as he deserved |
offer | an act or statement that proposes definite terms and permits the other party to create a contract by accepting the terms |
offeror | person who makes offer |
offeree | person to whome the offer is made |
output contract | obligates the seller to sell all of his output to the buyer, who agrees to accept it |
requirements contract | obligates a buyer to obtain all of his needed goods from the seller |
implied warranty of merchantability | goods must be of at least average, passable quality in the trade |
acceptance | gnerally effective on dispatch, meaning the moment it is out of the oferee's control |
consideration | must be bargaining that leads to an exchange between the parties |
rescind | means to cancel |
liquidated debt | no dispute for the amount owed |
accord and satisfaction | to settle for less than the creditor claims |
usury laws | prohibit charging excess interest on loans |
noncompete clause | an employment contract is generally enfoceable only if it is essential to the employer, fair to the employee, and harmless to the general public |
exculpatory clause | on the attempts to release you from liability in the event of injury to another party |
bailment | giving possession and control of personal property to another person |
unconscionable contract | on that a court refuses to enforce because of fundamental unfairness |
adhesion contracts | standard form contracts prepared by one party and given to the other on a take it or leave it basis |
minor | someone under the age of 18 |
unilateral mistake | one party enters a contract under a mistaken assumption |
bilateral mistake | both parties negotiate based on the same factual error |
parol evidence | refers to anything that was said, done, or written before the parties signed the agreement or as they signed it |
third party beneficiary | someone who was not a party to the contract but stands to benefit from it |
incidental beneficiary | not an intended beneficiary |
assignment of rights | contracting party may transfre his rights under the contract |
delegation of duties | a party transfers her duties pursuant to the contract |
assignor | the one making an assignment |
assignee | the one receiving the assignment |
gratuitous assignment | one made as a gift for no consideration |
novation | three way agreement in which the obligor transfers all rights and duties to a third party. the obligee agrees to look only to the third party for performance |
condition | an event that mus occur before a party becomes obligated under a contract |
commercial impracticability | some event has occurred that neither party anticipated and fulfilling the contract would now be extraordinarily difficult and unfair to one party |
frustration on purpose | some event has occurred that neither party andicipated and the contract now has no value for one party |
remedy | method a court uses to compensate an injured party |
injunction | an order forcing someone to do something or refrain from doing something |
interest | a legal right in something |
incidental damages | relatively minor costs that the injured party suffers when responding to the breach |
legal remedies | expectation and reliance interests |
restitution | a common remedy in contracts involving fraud, misrepresentation, mistake, and duress |
injunction | a court order that requires someone to do something or refrain from doing something |
preliminary injunction | an order issued early in a lawsuit prohibiting a party from doing something during the course of the lawsuit |
mitigate | keep damages as low as he reasonably can |
reformation | partially re writing a contract |
nominal damages | a token sum such as a dollar |