Business Law: Fundamentals Of Business Law: Ch1-6

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law

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enforceable rules governing relationships among individuals and between individual and their society

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Jurisprudence

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establish rights, duties and privileges that are consistent with the values and beliefs of their society or its ruling group

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breaches

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breaks or fails to perform

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ethics

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the study of what constitutes right or wrong behavior

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Primary sources of law

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US Constitution and state constitutions, Statutes or laws passed by Congress and by state legislatures, Regulations created by administrative agencies, such as the federal Food and Drug Administration, Case Law (court decisions)

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Secondary sources of law

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books and articles that summarize and clarify the primary sources of law.

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Constitutional law

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the law as expressed in constitutions

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statutory law

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legislative bodies at any level of government make up another source of law

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Ordinances

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A law, statute, or regulation enacted by a Municipal Corporation. An ordinance is a law passed by a municipal government.

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Uniform laws

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laws that states adopt that becomes part of the statutory law of that state.

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UCC

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Facilitates commerce among the states by providing a uniform, yet flexible, set of rules governing commercial transactions.

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Administrative Law

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consists of the rules and decisions of administratvive agencies.

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Administrative agency

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a federal, state, or local government agency established to perform a specific function.

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executive agencies

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exist within the cabinent departments of the executive branch

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adjudicate

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resolve judicially

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administrative process

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administration of law by administrative agencies.

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Case law

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common law, doctrines and priciples embodied in case law- governs all areas not covered by statutory law or administrative law.

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common law

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a body of general rules that applied thoughout the entire English Relm

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Precedent

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a decision that furnished an example or authority for deciding subswquent cases involving similar legal principles or facts.

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stare decisis

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the practice of deciding new cases with reference to former decisions or precedents eventually became a cornerstone of the English US Judicial systems.

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binding authority

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is any source of law that a court must follow when deciding a case

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persuasive authorities

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precedents from other jurisdictions, because they are not binding on the court, are referred to as persuasive authorities

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Equity

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a branch of the law, founded in justice and fair dealing, that seeks to supply a fair and adequate remedy when no remedy is available at law.

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plaitiff

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bring action in equity

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defendent

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a person against whom a lawsuit is brought

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injunction

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directing a party to do or refrain from doing a particular act

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specific performance

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an order to perform what was promised

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Substative law

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all laws that define, describe, regulate, and create legal rights and obligations

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procedural law

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all laws that establish the methods of enforcing the rights established by substative law

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cyberlaw

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the emerging body of law that governs transactions conducted via the Internet.

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Civil Law

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spells out the rights and duties that exist between persons and between persons and their governments, and the relief available when a person's rights are violated. (private party sues private party)

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Criminal law

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dealing with wrongs committed against society for which society demands reedress.

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national law

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the law of a particular nation

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civil law system

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the primary source of law is a statutory code, and case precedents are not judicially binding as opposed to common law systems.

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International law

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a body of written and unwritten laws observed by independent nations and governing the acts of individuals as well as governments.

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Commerce clause

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permits congress to regulate commerce with foreign nations and among the several states and with the indian tribes

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police powers

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the rights of state govs. to regulate private activities to protect or promote the public order, health, safety, morals, and general welfare.

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The Dormant commerce clause

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has the exclusive authority to regulate commerce that substantially affects trade and commerce among the states.

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symbolic speech

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gestures, movements, articles of clothing, and other forms of nonverbal expressive conduct

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establishment clause

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freedom of religion

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free excercise clause

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guarantees that a person can hold any religious belief that they want

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Procedural due process

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requires that any government decision to take life, liberty, or property must be made fairly.

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Substantive Due Process

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If a law or other gov. action limits a fundamental right

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judicial review

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the power of the judicial branch to act as a check on the other two branches of gov.

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jurisdiction

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having the right over the person agianst whom the suit is brought or over the property involved in the suit.

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long arm statute

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jurisdiction over certain out of state defendants based on activities that took place within the state.

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Probate courts

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courts that handle only matters relating to the transfer of a person's assets and obligations after that person's death, including matters relating to the custody and guardianship of children.

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district courts

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are trial courts, court having original jurisdiction is known as a trial court

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federal question

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situation in which a United States federal court has subject matter jurisdiction to hear a civil case because the plaintiff has alleged a violation of the Constitution, laws, or treaties of the United States.

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concurrent jurisdiction

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Concurrent jurisdiction exists where two or more courts from different systems simultaneously have jurisdiction over a specific case.

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exclusive jurisdiction

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exists where one court has the power to adjudicate a case to the exclusion of all other courts. It is the opposite situation from concurrent jurisdiction, in which more than one court may take jurisdiction over the case.

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docket

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The official schedule of proceedings in lawsuits pending in a court of law.

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Venue

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location for a trial

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standing to sue

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the ability of a party bringing a lawsuit to demonstrate to the court sufficient connection to and harm from the law or action challenged

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justiciable controversy

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obtain judicial resolution of that

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small claims court

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5000 varies from state to state, conducted informally.

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writ of certiorari

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an order issued by the S court to a lower court requiring the latter to send it the record of the case for review.

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rule of four

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whether the court will issue a writ of certiorari entirely wihtin its discretion

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litigation

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the process of working a lawsuit through the court system

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pleadings

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inform each party of the other's claims and specify the issues

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counterclaim

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deny and set forth new claims

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motion to dismiss

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request the court to dismiss the case for stated reasons

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motion for judgment on the pleadings

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judge grant motion only when there is no dispute over the facts of the case and the sole issue to be resolved is a question of law.

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motion for summary judgment

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court may consider evidence outside the pleadings, such as sworn statments

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discovery

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gaining access to witnesses, docs, records, and other evidence

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depositions

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sworn testimony by party or any witness

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interrogatories

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written questions for which written answers are prepared and then signed under oath.

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pretrial

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possible settlement without trial

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motion for a directed verdict

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justifying that the defendent has no evidence

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award

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money to be paid

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motion for judgment

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not withstanding the verdict

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motion for a new trial

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requesting the judge to set aside the adverse verdict and to hold a new trial

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negotiation

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process in which the parties attempt to settle their dispute infromally.

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mediation

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parties themselves attempt to negotiate an agreement, but with assistance of a third party.

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arbitration

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a neutral third party or a panel of experts hears a dispute and renders a dicision

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Arbitration clause

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provides that any dispute that arises under the contract will be resolved through arbitration rather than through the court system.

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early neutral case evaluation

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parties select a neutral party (expert) to evaluate their respective positions

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mini trial

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each party's attorney briefly argues the party's case before representatives of each firm who have the authority to settle the dispute.

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summary jury trials

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jury renders a verdict

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Oline Dispute resolution ODR

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online disagreements over domain names and items sold through the internet

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business ethics

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what constitutes right or wrong behavior in the business world and how moral and ethical principles are applied by businesspersons in situations that arise.

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Sarbanes Oxley Act

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"raise red flags" about suspected illegal or unethical auditing accounting practices.

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moral minimum

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the minimum accepted standard for ethical business behavior

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ethical reasoning

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individuals examine the situation at hand in light of her or his moral convictions or ethical standards

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categorical imperative

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evaluating actions in light of the consequences that follow

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principle of rights

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how it affects the rights of others

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utilitarianism

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consequesnces of an action, not nature of the action itself or on any set of preestablished moral values or religious beliefs.

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business torts

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wrongful interferences with the business rights of others.

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cyber torts,

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torts through the internet

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assault

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a reasonable apprehension or fear of immediate harmful or offensive contact is an assault.

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battery

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the completion of the act that caused the apprehension, if it results in a harm to the plaintiff

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false imprisionment

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intentianal confinement or restraint of another person's activities without justification

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actionable

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capable of serving as the ground for a lawsuit

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defamation

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wrongfully hurting a person's good reputation

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slander

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orally tort

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libel

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written tort

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damages for defamation

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plaintiff must show statement and proff of actual economic or monetary losses.

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actual malice

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a condition required to establish libel against public officials or public figures and is defined as "knowledge that the information was false" or that it was published "with reckless disregard of whether it was false or not."

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appropriation

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individuals right to privacy

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fraudulent misrepresentation

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intentaional deciet for personal gain

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puffery

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sellers talk, represents something that is untrue

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predatory behavior

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actions undertaken with the intention of unlawfully driving competitors completeley out of the market.

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conversion

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taking something that isn't theirs

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trade libel

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false info about anothers prodcut

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slander of title

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publication denies or casts doubt on another's legal ownership of any property

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negligence

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suffers injury because of another's failure to live up to a duty of care.

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reasonable person standard

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how would a reasonable person acted

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malpractice

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pros violate legally recognizable injury

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punitive damages

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awarded to punish the wrongdoer and deter others from similar wrong doing

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Proximate cause

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legal cause exists when the connection between an act and an injury is stron enough to justify imposing liability

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assumption of risk

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knowledge of the risk and voluntary assumption of the risk

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superseding cause

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relieves a defendant of liability for injuries caused by the intervening event

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contributory negligence

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failed to exercise a reasonable degree of care

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dram shop acts

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bartender may be held liable for injuries cased by a person who became intoxicated while drinking at the bar who was already intoxicated when served by the bartender

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Intellectual property

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property resulting from intellectual, creative processes, products of an indiviual's mind

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trademark

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distinctive mark, motto, device, or emblem that a manufacturer stamps, prints, or otherwise affixes to the goods it produces so that they can be identified on the market and their origin vouched.

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patent

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inventor exclusive rights to an invention

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copyright

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right of an author or originator of a literary or artistic work

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service mark and trade dress

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any distinctive word name symbol or device or combination thereof that an entity uses to distinguish its goods or services from those of others

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trade secret

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any info that a business possesses and that gives the business an advantage over competitors formulas lists patterns plans processes and programs

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strong marks

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marks that are generally considered to be the most distinctive trademarks because they are normally taken from outside the context of the particular product

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infringed

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used without authorization

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service mark

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used to distinguish the services of one person or company from those of another

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trade name

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used to indicate part or all of a business's name.

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cyber marks

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domain name or internet address

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cybersquatting

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a person registers a domain name that is the same as or similar to the trademark of another and then offers to sell the domain name back to the trademark owners.

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trade secrets

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costomer lists, plans, research, and development, pricing information, marketing techniques, production methods, and generally anything that makes an individual company unique and that would have value to a competitor

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robbery

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taking of cash personal property by means of force or fear

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burglary

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breaking and entering the dwelling of another at night with the intnet to commit a felony

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larceny

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takes and carries away another person's property
ex.pick pockets

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entrapment

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defense to prevent police officers or other gov agents from encouraging crimes in order to apprehend persons wanted for criminal acts

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exclusionary rule

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4 and 5 ammendment illegally obtained evidence, must be excluded from the trial.

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grand juty

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more jurors than the ordinary trial jury