Business Law Mid Term Flashcards

1
Q

What is judicial review?

A

Power given to the Judicial Branch to decide if an act is Constitutional or not

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2
Q

What is jurisdiction?

A

The power to speak the law

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3
Q

What is subject matter jurisdiction?

A

Jurisdiction over the issue

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4
Q

What is in rem jurisdiction?

A

Jurisdiction over property involved in the lawsuit

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5
Q

What is personal jurisdiction?

A

Jurisdiction over the defendant

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6
Q

What kinds of cases have original subject matter?

A

Cases involving torts or contracts

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7
Q

The standard for a court to exercise personal jurisdiction is called _________.

A

Minimum Contacts

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8
Q

Three levels of the Federal Judicial System

A

Supreme Court, Court of Appeals, and District Court all which are nominated by the President

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9
Q

What are the four levels of the TN Judicial System?

A

Court of Appeals, Criminal Appeals, Trial, and Small Claims Court
Trial and Small Claims are elected by popular vote. Others are appointed then held to a vote

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10
Q

Who’s powers are limited by the Bill of Rights?

A

The federal governments

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11
Q

What is federalism form of government?

A

The national and state governments share sovereign powers

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12
Q

What is separation of powers?

A

Dividing the powers of the gov between the three branches of gov.

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13
Q

What is full faith and credit?

A

Each state must recognize the acts, records, and proceedings of the other states

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14
Q

What is due process and incorporation?

A

Protections given by the Bill of Rights passed to the states

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15
Q

What is the source that gives the federal government the power to regulate?

A

Article 1, Section 8

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16
Q

What is the source that gives the state government the power to regulate?

A

10th amendment

17
Q

The Duty Based Approach is also known as ______.

A

the Deontological Approach

18
Q

The Outcome Based Approach is also known as _________.

A

Utilitarianism

19
Q

The Deontological Approach is focused on,

A

whether the action is itself ethical

20
Q

Utilitarianism is focused on the consequences of,

A

an action rather than the action

“The Greatest Good for the Greatest Number”

21
Q

The Principle of Rights requires people to consider….

A

if their conduct affects the rights of others

22
Q

The Foreign Corrupt Practices Act prohibits…

A

the bribery of officials of foreign governments if the purpose of the payment is to get the official to act in his or her official capacity to provide business opportunities

23
Q

What are the 5 essential parts to a contract?

A
  1. Offer
  2. Acceptance
  3. Consideration
  4. Capacity
  5. Legality
24
Q

Is silence a form of acceptance?

A

No