General Business Law I Flashcards
What are the three fundamental categories of civil law?
Contracts, property, and torts
What is a tort?
A breach of the standards of reasonable conduct imposed by law that causes harm to another person
What are some examples of a tort?
- assault
- false imprisonment
- mental distress
- misrepresentation
- fraud
- slander
Which government branch is responsible for statutory law?
Legislative Branch
The main purpose of the doctrine of stare decisis is to….
make court decisions more consistent and predictable
Personal property is also known as….
chattel
A judge rules that a defendant must pay the plaintiff for the cost of building a deck and also requires the defendant to stop harassing the plaintiff. What type of compensation is this?
Injunction - required to stop defendant to stop performing a specific action
Compensatory (actual) Damages - required to pay for the cost of deck
T/F
A court that has the power to review the decision of lower courts is an appellate court
True
Which court is the only court that has jurisdiction over divorce, separation and annulment cases?
Supreme Court
VILLAGE and TOWN COURTS have jurisdiction over cases where the plantiff is seeking a monetary award up to _____?
$3000
CITY and DISTRICT COURTS can hear cases with claims up to____
$15,000
CIVIL COURT of the CITY of NY can decide civil lawsuits with monetary awards up to ____ and small claims up to ____
$25,000 & $5,000
All claims in the state for monetary damages over $25,000 are heard in ______
Supreme Court
What is the highest appellate court in NYS?
Court of Appeals
T/F
Civil lawsuits are primarily cases where one individual commits an offense against society
False - civil lawsuits would be a case of an individual making a claim against another individual
T/F
Arbitration and mediation are two popular resolutions to settling dipsutes
True
What is mediation?
the process whereby cases already filed with the court are moved forward by referring certain matters to a court referee.
Referee holds a conference to facilitate a voluntary settlement of the case
What is arbitration?
When both sides agree to submit facts and evidence to an impartial third party to resolve dispute
How long does one have to file a civil lawsuit in a case involving personal injury in NYS?
3 years
How long does one have to file a civil lawsuit in a case against the government in NYS?
90 Days
What is a mechanic’s (materialman’s) lien?
lien that can be claimed by any person who has supplied labor and/or material for improvements, maintenance, or repairs on real estate and who has not been paid
T/F
A mechanic’s lien must be filed within four months of the complete of the work on a single family residence….
What about all other properties?
True for single family residence, eight months for other properties
Doctrine of Laches
a claim or some legal right will not be allowed or enforced if the court determines that the right to enforce was lost through undue delay or failure to assert
What are the 3 most common types of bankruptcy?
Chapter 7, 11, 13
Chapter 7 Bankruptcy
this is a liquidation proceeding. debtor turns over all nonexempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors
Chapter 11 Bankruptcy (Reorganization proceeding)
usually filed by a corporation or partnership usually with the intention of paying off creditors over time while keeping the business up and running, becoming a debtor inn possession.
Chapter 13 Bankruptcy (Adjustment of debts proceeding)
filed by individuals who want to pay off their debts over a period of three to five years. debtor submits a plan for repayment, subject to approval of the secured creditors and the court
What is the statute of limitations for filing a lawsuit on a tort claim in NYS?
3 years
Of these, which is LEAST LIKELY to be an example of a Tort?
- battery
- defamation
- fraud
- treason
-Treason
