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Agricultural and Natural Resource Law Exam 1 > Exam 4 > Flashcards

Exam 4 Flashcards

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1
Q

Uniform Commercial Code (UCC)

A

model code aiming to simplify and modernize the law overseeing commercial transactions, common rules for commercial law, provides gap fillers when contracts are ambiguous/not in writing, adopts common law of contracts

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2
Q

Commercial Transactions

A

transactions regarding personal property: sales, commercial papers, bank deposits, letters of credit, bulk transfers, warehouse receipts, bills of lading, documents of title, investment securities, secured transactions

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3
Q

Article 6 (UCC)

A

governs bulk transfers, doesn’t address agriculture - only those who manufacture what they sell

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4
Q

Article 2 (UCC)

A

governs sales, addresses farm transactions

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5
Q

Merchant

A

whan a farmer is familiar with the marketing practices in the industry: length of time goods sold, business knowledge, farm market knowledge

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6
Q

Contract

A

legally binding promise or set of promises between two or more parties, both legally obligated to perform, each can go to court for non-performance

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7
Q

Elements of a Contract

A

legally competent parties, legal or proper subject matter, offer, acceptance, consideration

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8
Q

Legally Competent Party

A

no lack of maturity or mental capacity to exercise good judgement, ex: children, insane, mentally retarded

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9
Q

Voidable Contract

A

contract which may be either affirmed or disaffirmed at the option of one or more of the contracting parties, ex: emancipated minors

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10
Q

Disaffirmance

A

avoids/destroys the legal relationship

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11
Q

Affirmance

A

ratifies and makes enforceable

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12
Q

Illegal Agreement

A

ex: creation of monopoly or illegal gambling contracts

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13
Q

Adhesion Contract

A

“take it or leave it”, weaker party at mercy of stronger, eliminates bargaining power: numerous terms, drafted by one party to the contract, contracting is routine for drafting party and not for adherent, signed by adherent, adherent’s key obligation is money

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14
Q

Unconscionable Contract

A

problem in substance and formation of contract, lopsided obligations and rights, bargaining power unequal

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15
Q

Offer

A

promise or commitment to do some act, intentionally not do some act, or promise some return performance, good for a time period or “resonable” period of time, must be received to be legally effective

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16
Q

Elements of Offer

A

a manifestation of words or acts to make a contract, definite in terms, communicated to offeree

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17
Q

Lucy vs Zehmer

A

Zehmers sold to Lucy for $50,000, wrote up contract while drunk, lost farm - definite in terms

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18
Q

Acceptance

A

made to a specific person (cannot be accepted by another), effective as soon as the offer leaves offeree’s possesion

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19
Q

Meeting of the Minds (MOM)

A

both members understand what they’re contracting to, reached through process of offer and acceptance-counter offers, changing conditions

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20
Q

Qualified or Conditional Acceptance

A

counter-offer, rejection of original

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21
Q

Consideration

A

something given in exchange for a promise, benefit to one party, detriment to other, something of value

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22
Q

Unilateral (Contracts)

A

one party makes a promise and the other party does or does not do an act, promise for act

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23
Q

Bilateral (Contracts)

A

promises made on both sides, promise for promise

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24
Q

Express (Contracts)

A

contracts definitely set out in words, oral or written

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25
Q

Implied (Contracts)

A

contracts worked out or inferred from the acts and conduct of parties, implied in fact or implied in law

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26
Q

Implied in Fact

A

based on conduct, no mention of a contract, no written or spoken words, ex: wrong barn gets painted and owner sits and watches

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27
Q

Implied in Law

A

facts lead court to claim that regardless of parties wishes, they will be treated as though they made a contract, ex: barn painted by mistake while owner on vacation, owner may have to pay for paint

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28
Q

Statute of Frauds

A

certain contracts must be in writing to be enforced, include contracts taking over one year to perform, involving transfer of real estate, for sale of goods $500 or more

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29
Q

Partial Performance

A

enforcement of oral contracts, conduct by a party that is sufficient enough for courts to remove a contact from Statute of Frauds

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30
Q

Straatmann vs Straatmann

A

son receives farm equipment/land

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31
Q

Promissory Estoppel

A

a promise reasonably expected to induce action and does, ex: aunt offers to pay for neice to live in nunnery

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32
Q

3 Excuses of Contractual Performance

A

substantial performance, impossibility of performance, frustration of purpose

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33
Q

Substantial Performance

A

allows a partial or substantially similar performance to stand in for the performance specified in the contract

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34
Q

Impossibility of Performance

A

item’s destruction is no fault of contracting parties

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35
Q

Frustration of Purpose

A

supervening event destroys bargained for performance

36
Q

Parol Evidence Rule

A

in written contracts, parties to the contract are nor allowed to offer extrinsic oral declarations to alter the meaning of the contract (written contracts speak for themselves)

37
Q

Remedies for Breach of Contract

A

damages, specific performance, recision and restitution

38
Q

Specific Performance

A

requires a party to perform a specific act, usually what is stated in a contract

39
Q

Rescission and Restitution

A

terminates liability and requires parties to return whatever benefit he/she recieved

40
Q

Warranty

A

promise that a certain statement of fact is true, generally centered on product liability, express or implied

41
Q

Implied Warranty of Merchantability

A

goods must reasonably conform to an ordinary buyer’s expectations

42
Q

Implied Warranty of Fitness for a Particular Purpose

A

implied when a buyer relies upon the seller to select the goods to fit a specific request, ex: snow tires

43
Q

Disclaimers

A

denial or renunciation of responsibility, happens in sales, not in torts

44
Q

Hold Harmless Agreement

A

contractual agreement transfers liability from one party to another, invalid if illegal, immoral, against public policy, created fraudulently, will not cover negligence

45
Q

Indemnitee

A

party responsible for damages or liability

46
Q

Indemnitor

A

party agreeing to hold indemnitee harmless

47
Q

Sole Proprietorship

A

least costly, most widely used, simple decision making, owner responsible for debts and obligations and third party injuries, lack of continuity in death/illness, growth limited to personal energy, difficulty of transfer, personal affairs easily mixed with business

48
Q

Partnership

A

association of two or more persons to carry on as co-owners of a business (Uniform Partnership Act), implies voluntary act of two or more ppl, must have legal capacity, can also include corporations, sharing of profits, joint control, sharing of profit/losses, personally responsible for debts and obligations, can be formed by oral agreement

49
Q

Joint Venture

A

single business transaction for a short period of time

50
Q

Elements of Partnership Agreement

A

type of business, amount invested by partners, division of profit/loss, compensation for partners, distribution of assets on dissolution, duration of partnership, provisions for dissolving, provisions for withdrawls/admission of partners, dispute settlement clause, restrictions of authority-expenditures, settlement in case of death

51
Q

Terminating a Partnership

A

term of partnership agreement expires, decision by one of partners, expulsion of partner, unlawful acts, death of partner, bankruptcy

52
Q

Advantages of Partnership

A

additional sources of venture capital, two heads, flexible, easy to form

53
Q

Disadvantages

A

unlimited personal liability, death, withdrawl or bankruptcy of one partner, difficult to lose a bad partner, hazy line of authority

54
Q

Taxes (Partnership)

A

income and losses taxed on partner’s interest in business

55
Q

Types of Partnership

A

general, limited, limited liability

56
Q

General Partnership

A

partners personally liable for debts and obligations, more options for financing

57
Q

Limited Partnership

A

1 general partner, others limited, partners not personally liable for debts and obligations, only to extent of investment, limited partners don’t participate in management of partnership

58
Q

Limited Liability Partnership

A

hybrid btwn general and limited, liability for your own misconduct, not others’

59
Q

Corporation

A

legal entity existing under the authority of state legislature, for purpose of carrying on a business for profit, concept of legal separateness, recognized as artificial person (due process under 5th/14th amendment, can engage in business transactions, hold property, contract, sue or be sued)

60
Q

Elements of Corporation Registration

A

corporate name, address, shares authorized to issue, preemptive rights to shareholders, purpose, powers of board/execs, mgmt of business, personal liability for shareholders, par value and classes of shares

61
Q

Ownership of Corporations

A

shareholders elect board of directors (governing body)

62
Q

Dissolution of Corporations

A

voluntary process by board of director vote or approval of stockholders, involuntary process by failure to follow law or file reports

63
Q

Advantages of Corporation

A

limited liability for stockholders, continuity, transfer of shares easily, change of ownership need not affect mgmt, easier to resuse capital

64
Q

Disadvantages of Corporation

A

heavier taxes (corporate and shareholder income taxed), power limited by charter, less freedom of activity, significant legal formality, expensive to launch

65
Q

S Corporations

A

small business, taxation is key factor–not affected by corporate income taxes, treated as partnership for taxation purposes, must be: domestic entity, one class of stock, individuals and estates only as holders, can’t be part of another org, max number shareholders allowed, no nonresident alien shareholders

66
Q

Limited Liability Company

A

business hybrid authorized by the state, combines elements of sole proprietorship, partnership, corporations, liability limited to amount contributed, generally member-managed according to percent of interest, profits/losses allocated according to operation agreement or articles of organization

67
Q

Dissolution of LLC

A

as specified in operation agreement or articles of organization, occurance of specific events, written consent of all members, LLC ceases to have members, order of a court, company continues only to carry out neccessary business and liquidate affairs, distributes assets to creditors, then members w liability, then members in proportion to interest

68
Q

Protected Disability Categories

A

race, color, religion, naitonal origin, sex, age, handicap or disability, marital status, sickle cell trait, pregnancy, abortion, childbirth related conditions, disabled veterans

69
Q

Rehabilitation Act of 1973

A

protects qualified individuals with disabilities–physical or mental impairment substantially limiting one or more major life activity, reasonable accommodation for employees with disabilities; program accessibility; effective communication with people who have hearing or vision disabilities; and accessible new construction and alterations

70
Q

Americans with Disabilities Act of 1990 (ADA)

A

unlawful to discriminate against a qualified individual with a disability, no discrimination in state and local gvmt services, public accomodations, transportation and telecommunications, employers must make “reasonable accomodations” unless it poses an undue hardship

71
Q

Americans with Disabilities Act Amendments 2008

A

broader definition of disability: “major life activities” include major bodily functions: immune system, normal cell growth, digestive, bowel, bladder, neurological, brain, respiratory, circulatory, endocrine, reproductive functions

72
Q

1990 “Major Life Activities”

A

walking, speaking, breathing, learning, standing, lifting, reading

73
Q

Title 1 (ADA)

A

prohibits employer form discriminating against qualified individual with disability who with or without reasonable accomodation can perform the essential functions of a job unless it creates an undue hardship on the business operations

74
Q

Examples of ADA Accommodations

A

accessible facilities, modified work schedules, acquiring/modifying equipment or devices, adjusting/modifiying exams, training material, policies, providing qualified readers or interpreters

75
Q

Undue Hardship (ADA)

A

excessively costly, extensive, substantial, or disruptive, or would fundamentally alter the nature/operation of the business, significant difficulty or expense in relation to the employer size

76
Q

Workplace Drug and Alcohol Use

A

prior to employment - no testing, offer made and accepted - testing, employed - testing

77
Q

Disability Remedies

A

compensatory and punitive damages, back pay, restored benefits, attorney’s fees, reasonable accommodation, reinstatement, job offers

78
Q

Sexual Harrassment

A

prohibited under Title VII of Civil Rights Act of 1964, applies to all employers of 15+ employees, unwelcomed sexual advances, requests for sexual favors, other verbal/physical conduct of a sexual nature

79
Q

Terms of Sexual Harassment

A

submission is made either explicitly or implicitly a term or condition of the individual’s employment, rejection used as the basis of employment decisions affecting the individual, unreasonably interfering with the individual’s performance or creating an intimidating, hostile or offensive work environment

80
Q

Ellison vs Brady

A

sexual harassment cases the facts must be judged from the perspective of a “reasonable woman”, attempting to bridge the gap between male and female perceptions of what conduct constitutes workplace sexual harassment

81
Q

Quid pro quo

A

“this for that”, sexual harassment in which favors are exchanged for job benefits over which the supervisor has some control or influence over the employer

82
Q

Hostile Environment

A

sexual harassment creates an intimidating, hostile, or offensive work environment or unreasonably interferes with an individual’s job performance

83
Q

Meritor Savings Bank vs Vinson

A

endorsed the concept of a hostile environment

84
Q

Harris vs Forklift Systems, Inc

A

clarified what constituted a hostile environment

85
Q

Nash vs Electrospace System Inc

A

prompt investigation completed in one week of sexual harassment case

Agricultural and Natural Resource Law Exam 1 (3 decks)

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