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Business Law > Business Law: Exam 1 Material > Flashcards

Business Law: Exam 1 Material Flashcards

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0
Q

According to “Blackstone’s Definition” ____ are rules of civil conduct commanding what is right and prohibiting what is wrong.

Another definition given was: A governmental rule prescribing conduct and carrying a penalty for violation.

A

Law(s)

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1
Q

____ and ____ are considered bodies of law.

A

Criminal Law

Civil Law

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2
Q

____ are laws dealing with crime and the punishment of wrong doers. These are also laws dealing with offenses against society.

A

Criminal Laws

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3
Q

____ is a criminal offense which is injurious to society as a whole, a punishable offense against society.

A

Crime

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4
Q

____ and ____ are two classifications of crime

A

Felony

Misdemeanor

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5
Q

A criminal offense punishable by confinement in prison or by death.
Example: Murder

A

Felony

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6
Q

____ is a criminal offense which is neither treason nor a felony.
Example: Speeding ticket

A

Misdemeanor

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7
Q

Legal proceedings concerned with the rights of public citizens, laws dealing with the enforcement or protection of private rights are ____.

A

Civil Laws

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8
Q

Time or death is the punishment of ____

A

Criminal Law

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9
Q

Tort Law or Money (Fines) are punishments of ____

A

Civil Law

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10
Q

____ are private or civil wronging’s, either intentional or caused by negligence, for which there maybe action for damages.

Private wronging’s for which damages might be recovered.

A

Tort Laws

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11
Q

____,____, and ____ are basis for tort liability

A

Intentional

Negligence

Strict Liability

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12
Q

Deliberate and intentional action to cause harm describes what basis of tort liability?

A

Intentional

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13
Q

Failure to exercise ordinary care describes what basis of tort liability.

Includes “acts of omission” and “acts of commission”

A

Negligence

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14
Q

Liability for injury regardless of negligence or intent. Product liability in which sellers is liable for any and all defective or hazardous products which threaten a consumer’s personal safety describes what basis of tort liability?

A

Strict Liability

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15
Q

___ is improper or negligent professional act by a professional person.

A

Malpractice

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16
Q

Rules of conduct prescribed by a government and its agencies, in regulating business transaction; rules of conduct for performance of business transactions. This is the definition of ____?

A

Business Law

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17
Q

Laws dealing with making contracts.

A

Contract Laws

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18
Q

Rules of conduct prescribed by a government and its agencies in regulating transactions related to real and personal property. This is the definition of____?

A

Property Laws

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19
Q

____ land and objects permanently attached to it. Also known as real estate.

A

Real Property

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20
Q

____ all property which J’s not real property.

A

Personal property.

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21
Q

Land, buildings, fences, and trees are all examples of ____?

A

Real property

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22
Q

Cars, furniture, insurance, jewelry, stocks, and bonds are all examples of ____?

A

Personal property

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23
Q

____ are customs which have become recognized by the courts as binding on the community forms the historical foundation of United States Law. Based on human experience and the “common good” of all members of society, rooted in England and early colonial law. “If it makes sense, it must be good law.”

A

Common Law

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24
Q

____ is a written document containing fundamental principles of a government. It determines powers and duties of a government, guarantees certain rights to the people. “Law of the Land”

A

Constitutional Law

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25
Q

____ are laws by legislative bodies, known as “Statutes” legislative bodies includes federal, state, and local governments.

Federal Statutes: U.S. Congress
States Statutes: Individual State Legislature

A

Statutory Law

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27
Q

____ inherent power of every government to make reasonable laws to protect the safety, health, morals, and general welfare of its citizens.

A

Police Power

28
Q

____ are bodies of law created by federal and state administrative agencies to implement their powers and duties in their form of rules, regulations, orders, and decisions.

A

Administrative Law

29
Q

____ are laws enacted by local municipalities.

A

Ordinances

30
Q

____ are court decisions that establish precedented principle, laws based on a court’s interpretation of federal, state and local laws. Determines “constitutionality of a law.”

A

Case Law

31
Q

____ principle that decisions of a court should serve as a guide or precedent and control the decision of a similar case in the future. Reliance on authority of establish law. “Like cases are decided , in like manner.”

A

Stare Decisis

32
Q

Authority of a court to hear a case related to the subject matter and person(s) involved in a court case.

A

Jurisdiction

33
Q

To interpret and apply the law to a given situation.

A

Functions of courts

34
Q

____ have the exclusive jurisdiction over bankruptcy, claims against the U.S., patent and copy right cases

A

Federal Courts

35
Q

____ courts that hear appeals in the federal court system, 12 federal judicial districts, hear appeals from cases originating in federal district courts, or federal administrative agencies and departments within its circuit, the decisions made here have precedence over lower courts.

U.S. Supreme Court or Special Courts

A

Federal (circuit ) courts of appeal

36
Q

____ appointed governmental body charged with implementing particular legislation.

Examples: “OSHA”, “FTC”, and “TFSC”

A

Administrative agencies

37
Q

____ is the highest court in the United States. Court of original jurisdiction in cases involving ambassadors, public ministers, consuls, and cases in which a state is a party, as well as cases appealed from federal courts of appeal. Supreme decision oveer all lower courts.

A

U.S. Supreme Court

38
Q

____ is the order to produce the record of a case, only such cases will be heard by the US Supreme Court.

A

Writ of Certiorari

39
Q

____ are federal trial courts with limited jurisdiction, limitied by laws of Congress creating them. (Bankruptcy court, tax court, court of international trade.)

A

Special Courts

40
Q

____ are (state) trial courts that hear only cases involving minor criminal offenses and disputes between citizens. Judge Judy type court (District, magistrate, county, municiple, small claims, justice, tax courts.)

A

Inferior Courts

41
Q

State Court in which a case is first heard. Maintains an official record of all proceedings, has broad jurisdiction over disputes between two or more parties, criminal offenses against the state, this court hears witnesses and evidence is entered. This court is known as ____?

A

Courts of Original General Jurisdiction

42
Q

State court hearing cases appealed from lower state court are____?

A

Appelate courts

43
Q

State courts with limited jurisdiction probate courts. Juvenile courts, and domestic relations are ____ .

A

Special Courts

47
Q

Person licensed to represent someone in court is ____?

A

Attorney/Lawyer

48
Q

A written request or “ petition” initiating a civil suit is a ____?

A

Complaint

49
Q

____ is the notice of complaint or “Process” given to a defendant defining the complaint and a time frame in which a response, or answer, must be filed. Serves the purpose of conferring personal jurisdiction over the defendant.

A

Summons

50
Q

A ____ is an “answer” or response of the defendant to a complaint.

A

Motion

51
Q

The decision of the court is known as the ____.

A

Judgement

52
Q

____ is the carrying out of the decision of the court.

A

Execution

53
Q

The individual that initiates a civil action is known as the ____?

A

Plaintiff

54
Q

The person who the civil action is brought against is the ____?

A

Defendant

55
Q

____ is an agreement between two or more competent parties which is enforceable by law.

A

Contracts

56
Q

Contracts are based on ____, ____, and ____.

A

Formation

Performance

Enforceability

57
Q

____ are contracts where parties express their intentions, either orally or In writing, at the time of the agreement.

A

Express Contracts

58
Q

Express contracts can either be ____ or ____.

A

Oral

Written

59
Q

____ are terms of the contract are implied by acts or conduct of the parties. Also known as, “Contract Implied in Fact”

A

Implied Contract

60
Q

____ are those with a special for or produced in a certain way. Contract “under seal”

A

Formal Contracts

61
Q

____ is any contract which is not a formal contract.

A

Simple Contract

62
Q

____ calls for an act in commiseration for a promise. One promise is given in exchange for an act.
(Example: Reward for lost dog.)

A

Unilateral Contract

63
Q

____ is a mutual exchange of promises. a promise for a promise.

A

Bilateral Contract

64
Q

____ is a terms of contract have not been completely executed or fulfilled by the parties.

A

Executory Contracts

65
Q

Those contracts that have been fulfilled by the parties are____?

A

Executed Contracts

66
Q

A contract which will be enforceable by the court is a ____?

A

Valid contract

67
Q

An agreement with no legal effect is a ____?

A

Void Agreement

68
Q

A contract which would be an enforceable agreement, but due to circumstances may be set aside by one of the parties is ____.

A

Void able contract

69
Q

An agreement which is not in the form required by law, but can be am so by the parties, they’re not binding. Simple contract made into a formal contract is ____.

A

Unenforceable Contract.

Business Law (4 decks)

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