Bonus Chapter: The Case for Laws Flashcards

1
Q

The branch of government chosen to oversee the legal system through the court system.

A

Judiciary Branch

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

State and federal constitutions, legislative enactments, treaties of the federal government, and ordinances—in short, written law.

A

Statutory Law

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

The body of law that comes from decisions handed down by judges; also referred to as unwritten law.

A

Common Law

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Federal or state institutions and other government organizations created by Congress or state legislatures with delegated power to pass rules and regulations within their mandated area of authority.

A

Administrative agencies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

A wrongful act that causes injury to another person’s body, property, or reputation.

A

Tort

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

A willful act that results in injury

A

intentional tort

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Part of tort law that holds businesses liable for harm that results from the production, design, sale, or use of products they market.

A

Product Liability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

A comprehensive commercial law, adopted by every state in the United States, that covers sales laws and other commercial laws.

A

Uniform Commercial Code (UCC)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Specific representations by the seller that buyers rely on regarding the goods they purchase.

A

Express Warranties

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Guarantees legally imposed on the seller.

A

Implied Warranties

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Forms of commercial paper (such as checks) that are transferable among businesses and individuals and represent a promise to pay a specified amount.

A

Negotiable instruments

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

A legally enforceable agreement between two or more parties.

A

contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Set of laws that specify what constitutes a legally enforceable agreement.

A

contract law

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

When one party fails to follow the terms of a contract.

A

Breach of Contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

The monetary settlement awarded to a person who is injured by a breach of contract.

A

Damages

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What three things will occur with breach of contract

A

Specific performance - The violator may be required to live up to agreement if money isn’t adequate
Payment of damages - party may be sued for damages
Discharge of obligation - party that was violated can drop the matter and walk away.

17
Q

Act passed in 1890 to prevent large organizations from stifling competition

A

Sherman Antitrust Act

18
Q

What two things does the Sherman antitrust act forbid

A
  1. contracts, combinations, or conspiracies in restraint of trade
  2. the creation of actual monopolies or attempts to monopolize any part of trade or commerce
19
Q

social movement that seeks to increase and strengthen the rights and powers of buyers in relation to sellers.

A

Consumerism

20
Q

Government withdrawal of certain laws and regulations that seem to hinder competition.

A

Deregulation