Business Law Tst 2

Question 1

Federalism

Answer 1

Government where power is divided between central authority and constituent political units

Question 2

3 types of government

Answer 2

Judicial
Legislative
Executive

Question 3

Judicial Review

Answer 3

Judicial review power of a court to review legislative and executive actions, such as a law or an official act of government employee or agent, to determine whether they are constitutional

Question 4

Supremacy Clause

Answer 4

Any state or local law that directly conflicts with federal law is void

Question 5

Commerce Clause

Answer 5

Art of constitution that gives Congress ability to “regulate commerce with foreign nations and among the several states and with the Indian tribes”

Wickard and Fillburn

Question 6

First Ammendment

Answer 6

Freedom of speech press religion and peaceable assembly

Question 7

Fourth Ammendment

Answer 7

Protects citizens from unreasonable search and seasier

Question 8

Fifth Ammendment

Answer 8

People don’t have to testify against themselves

Prevents double jeopardy

Creates due process of rights

Gvt can’t take property with out compensation

Trial by grand jury

Question 9

Ninth amendment

Answer 9

Right to privacy

Question 10

Fourteenth amendment

Answer 10

Equal protection of rights to all citizens. All citizens are created equal

Question 11

Article 1

Answer 11

Gives government the right to levee taxes

Question 12

Criminal law purpose

Answer 12

To punish

Question 13

Who brings the case in criminal law?

Answer 13

Prosecutors bring the case

Question 14

What is probable cause?

Answer 14

Reason to believe someone is about to, or has, committed a crime

Question 15

Difference between a missdimeanor and felony

Answer 15

M: lesser penalty. Trial is just an information

J: more than 1 year in prison, hearing in front of grand jury, indictment and no bail

Question 16

2 distinctions of a crime

Answer 16

Actus reus (guilty act)
Mens rea (guilty mind)

Question 17

Criminal burden of proof

Answer 17

Beyond a reasonable doubt

Question 18

Civil burden of proof

Answer 18

Proven by proponderence of the evidence

Question 19

What is corporate criminal liability

Answer 19

Corporation is responsible for the actions of its employees

Question 20

What are white collar crimes?

Answer 20

Bribery= pay to get influence
Extortion= blackmail
Fraud= intentional deception that causes harm to another
Insider tradin= trading with information that the general public doesn’t have
Forgery= falsification of documents by imitating or altering a real document

Question 21

Miranda rights

Answer 21

The rights that are read during an arrest.

“You have the right to remain silent”

Question 22

Tort

Answer 22

Violation of another person’s rights or a civil wrongdoing that does not arise out of a contract or statute; primary types are intentional neglect, and strict liability torts

Question 23

Elements of a tort

Answer 23

Duty, breech of duty, prove did the breech cause damages

Question 24

What is the difference between battery and assault

Answer 24

Assault is a threat

Battery involves contact

Question 25

What is defamation?

Answer 25

A false statement or an action that harms the reputation of an individual business or group

Question 26

What is disparagement?

Answer 26

Defamation of a business

Question 27

Reasonable man standard?

Answer 27

Degree of skill or action that a reasonable man would do in a situation.

Question 28

2 kinds of damages

Answer 28

``` Compensatory= make whole Punitive= use as example so it won’t happen again ```

Question 29

Types of property

Answer 29

Real= land and anything permanently attached to it. Personal= tangible, movable objects Intellectual= ideas and thoughts

Question 30

Rights included in property rights

Answer 30

Airspace Real Water= right to the water on the property Mineral= right to use minerals and soil beneath the surface.

Question 31

Interests in real property

Answer 31

Fee simple= complete ownership Conditional estate= same interest as fee simple but with strings attached Life estate= ownership until person who bought it died Future= persons present right to property ownership in the future Lease hold= essentially rent

Question 32

Ways of property transfer

Answer 32

Adverse possession= involuntary property transfer which a person acquired ownership of property by treating a peace of property as his or her own, with out protest from owner. (Squatter) Condemnation= transfer of property made against the protest of the property

Question 33

Trade mark

Answer 33

Distinctive mark, word, design, picture, or arrangement that is used by a producer in conjunction with product and tends to cause consumers to identify the product with the producer

Question 34

Copyright

Answer 34

The protection of expression of a creative work; that is, protection of the fixed form that expresses the ideas

Question 35

Patent

Answer 35

Protection that grants the holder the exclusive right to produce, sell, and use the object of the patent for 20 years Can be obtained for a product, oroduct, process, invention, machine, or a plant produced by asexual reproduction