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31 Cards in this Set
- Front
- Back
TORT
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Breach of a duty owed to another resulting in injury or loss.
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Negligence
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Failure to act as a reasonable person would in the same set of circumstances.
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Forseeability
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How capable of being forseen were the injury/loss by a reasonable person.
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Reasonable person
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Law looks through the eyes of a reasonable person.
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Res Ipsa Loquitor
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1)Whatever happened doesn't normally happen without negligence
2) Knows whos thing it was 3) Injured party can't have been negligent themselves. |
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Causation/Proximate Cause
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Were injury/loss natural cause of the negligent actions.
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Intervening factors
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1) Time/Space
2) Intervening factors 3) Injured parties own negligence |
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Assumption of Risk
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being aware of risk and doing it anyways.
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Contributory Negligence
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If the injured party is less negligent.
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What does Implied warranty of Mercentibility promise?
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The good will be fit for the purposes for which it was intended to be used.
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Products Liability
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Defective product, unreasonably dangerous, proximate cause, injury or loss, but no use or alteration.
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Workers Compensation
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1) Workers gave up their right to unlimited damages in exchange for not having to prove the boss negligent.
2) Management gave up their right to be proven negligent for a structured system of settlement. |
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Fixtures
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Leaves a scar when it's gone.
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Joint Tenancy
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Have to be equal
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Tenancy in Common
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Inheritable
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Life Estate
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Limited interest in property for a limited amount of time.
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Easement
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Right to come upon real property.
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Adverse Possession
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1) actual 2) open 3) Hostile 4) statutory amount of time
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Partnership disadvantage
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Unlimited personal financial liability for the debts of the partnership.
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2 things that are limited in a Limited Partnership
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1) Liability 2) Ability to participate in the business
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3 characteristics of a Limited Liability Company
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1) Taxed as a partnership
2) Liability limited to your investment 3) Can participate in the business |
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Articles of Incorporation
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Formal legal document starting the incorporation process.
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Certificate of Incorporation
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Birth certificate of corporation
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Doing Business Doctrine
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Tells us how much business we can do in a foreign state without getting their permission
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Signature Liability
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Co-signing for the corporation
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Sub Chapter S Corporation
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If you are a closely held corporation (75 stockholders or less), you may choose to be taxed a partnership.
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Undisclosed Agency
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Done if the principal doesn't want the 3rd party to know who they are.
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Ways to show former employees don't have Apparent Authority
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Inform clients, take away identifying paraphenilia
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Employee vs Independent contractors
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Control
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Doctrine of Respondeat Superior
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The principle is responsible for the TORTs of their agent committed in the scope of their employment.
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Employment at Will
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Person can be fired for no reason.
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