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Leg @ Soc > Leg & Soc Test 2 > Flashcards

Leg & Soc Test 2 Flashcards

1
Q

Mitochondria case

A

2 people have 1 DNA strand; baby will live no longer than 10 years; Britain–> can take a healthy DNA strand from 3rd party and put into cell of parents

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2
Q

Contracts Law

A

“invisible backpack material”; known as k; a promise or set of promises for the breach of which the law provides remedy

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3
Q

Elements of Contract

A

1) offer; 2) Acceptance of offer; 3) Consideration

effected by 1) Capacity–VOIDABLE 2) Legality–VOID

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4
Q

Express Contract

A

manifest our agreement either orally or in writing

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5
Q

Implied contract

A

parties don’t write anything down and don’t say anything; contract created by conduct. ex. April Cleaning yard

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6
Q

Unilateral Contract

A

1 party makes a promise and the other party performs ex. paint without setting up a date

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7
Q

Bilateral Contract

A

both parties make a promise Ex. tree cutter

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8
Q

Uniform Commercial Code

A

uniform set of laws that are passed in identical form in every single state except Louisiana; ex. state law

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9
Q

Nepolianic Code

A

Louisiana; practices French Law

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10
Q

Legality of a contract

A

VOID; if object of contract is illegal– contract is void (as if it never existed);
ex. Kill Riley, NFL paying people for injuries

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11
Q

Capacity

A

2 parties to a contract understand the nature of consequences of their actions

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12
Q

Defects in Capacity

A

VOIDABLE; but only on the part with the person on the defect

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13
Q

Types of Defects in Capacity

A

1) Infancy; 2) Mental Incompactiy; 3) Intoxication

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14
Q

Infancy

A

until 18 years old; reasonable period of time after turns 18; decide case by case; ex. give kid back money after crashes car just after buying it

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15
Q

Nonvoidable infancy

A

if minor marries at the age of 14; Rent a place to live; Divorced at 16

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16
Q

Ratification

A

make payment after turn 18 (sign that you chose to keep the contract) ex. pay monthly credit card payment

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17
Q

Mental Incompacity

A

mental illness, alzteimers, dimensia, or any kind of mental disability; part of voidability—sign when on or off meds?

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18
Q

Intoxication

A

unsympathetic to judge; ex sign car away while drunk–probably excused
high go wire cars–liable

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19
Q

Acceptence

A

the manifestation of consent to the terms of an offer in the manor required by an offer
-by any commercial reasonable means

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20
Q

Clerical Error

A

might be able to get back; if misplace decimal point

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21
Q

Consideration

A

benefit of the bargain for both parties; both parties have to get something of value

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22
Q

Is the promise to make gift enforceable?

A

No lacks consideration on 1 side

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23
Q

What type of contract is it when someone hangs up posters offering a reward for whoever finds their dog?

A

Unilateral Contract

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24
Q

Uncle made a deal with his nephew if he stayed out of trouble in college he would give him $10,000. What kind of contract?

A

Unilateral

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25
Q

Case #1 Hooters

A

waitress in Panama City Beach, FL–beer sales contests–highest beer sales will win Toyota–Unilateral accept by doing it. Jody wins–day of award she is given a Toy Yota from Star Wars; they settled and let her pick out any Toyota ($40,000)

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26
Q

Davenport, IA Case

A

give 10,000 to whoever got numbers tattooed on their forehead–Unilateral

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27
Q

Lucy vs Zehmer

A

Supreme Court of Appeals Virginia 1954; eating dinner Zehmer says to Lucy Fergusen sell farm to her for $50,000. Lucy says yes would love to buy it. Wrote note on back signed by Zehmer and Wife. Lucy tries to give him $20. No I am not selling you Furgesen farm. Sues him.

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28
Q

2 prong test

A

1) objective test; 2) subjective test

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29
Q

Objective Test

A

court analyzes if three elements of contract are present: offer, acceptance, consideration effected by Capacity and Legality

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30
Q

Subjective Test

A

has to be meeting of the minds
–defects- intimacy, emancipated, intoxicated, “as high as Georgia pines”
look from person who is at a disadvantage

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31
Q

Specific Performance

A

have to give up something (farm) found meeting of minds

-had to sell farm to Lucy

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32
Q

Contingency Contracts

A

agree to take case if its is settled get 30%; goes to trial and win 40%; trial and lose nothing–gambling ex. Buffalo Creek

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33
Q

Tort

A

1) Duty; 2) Breach of Duty; 3) Causation (Actual & Proximate); 4) Damages

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34
Q

Duty

A

not to kill or hurt them (duty to be careful with you)

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35
Q

Breach of Duty

A

go against duty (kill people)

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36
Q

Damages

A
  • death - property damages - physical injuries - pain and suffering - funeral - environmental damages
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37
Q

Causation

A

did they cause damages? (damn)

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38
Q

What was the first thing Pittston did?

A

Said the most that anyone could get according to West Virginia State law is $10,000. So he said he would write people checks for that amount but no more.

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39
Q

Ford Pinto

A

mother killed in accident designed a car with gas in the back; cost $15 to recall all of the vehicles or less cost if they just pay when bad things happen

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40
Q

Pittston’s Defenses

A

1) Act of God (Parkersberg; Hurricane; Earthquake)
2) BCMC/wasn’t even us
3) State’s Fault
4) People’s Fault–> can move; no money
5) State of the Art

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41
Q

State tort claims act

A

can’t sue state

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42
Q

State of the Art-Custom & Usage

A

doing it best way we know
-Do we know how to build a dam?
Do we have evidence it didn’t work?

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43
Q

Settlement prices

A 
Started with $64 million-->Stern
$3 million--> Pittston
$32.5 million--> Stern
$3 million --> Pittston
$13.5 million--> Stern (13,500 per person)
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44
Q

Contingency fee

A

25%

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45
Q

Para hours

A

Secretary hours and legal hours (misc hours)

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46
Q

Reason doesn’t take it to trial

A
  • hard for witness on stand
  • 64 million might break Pittston
  • Pressure from people to settle it
  • bankrupt (last group paid plaintiffs)
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47
Q

Power of Gov’t Regulation

A

found in Constitution Article 1 section 8 interpreted by US supreme court

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48
Q

Market Failure 4 areas

A

1) Imperfect information
2) Monopoly
3) Externalities
4) Public Goods

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49
Q

Imperfect information

A
  • gov’t mandates nutrition on bottle
  • forced franchise calorie (McDonald’s)
  • know to make informed decisions
  • most of the time don’t get accurate information
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50
Q

Monopoly

A

bad in US

believe competition greater benefit

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51
Q

Externalities

A

not all costs of a good or service are paid for by those responsible (pollution)

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52
Q

Public Goods

A

things that can’t be provided through the market (ex. hwy, national defense)

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53
Q

Interstate Commerce

A

commerce between states; 1964 when Civil Rights of 1964 passed

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54
Q

1954 Supreme Court Case

A

Brown vs Board of Education; Plessy vs Fergusen

  • -set up principle–Separate but equal
  • could segregate public schools as long as equal schools
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55
Q

Brown vs Board of Education

A

1954; struck down separate but equal

-1954-1964 King Speeches, lunch counter, Rosa Parks

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56
Q

Title 2 of Civil Rights Act of 1964

A

you can’t discriminate in a place of public accommodation (any place serves public) against people based on 5 factors

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57
Q

5 Factors

A 
1-race
2-color
3-sex
4-religion
5-national origin
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58
Q

My place of private accommadation

A

yes can discrimminate

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59
Q

Landmark Case

A

-use in bakery refused to serve gays

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60
Q

Heart of Atlanta motel 1964

A
  • large multipart holding
  • don’t have to serve blacks because don’t have anything to do with interstate commerce
  • so are all of their customers locals?
  • no therefore interstate commerce is in effect
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61
Q

Title 2 of Civil Rights Act of 1964

A

valid exercise of congresses power under the commerce clause

-saying ya they can do that

62
Q

the interstate movement of persons

A

is commerce which affects more than 1 state

-driving to Chicago buying gas in other state-interstate commerce

63
Q

The protection of interstate commerce

A

is within the regulatory power of congress under the commerce clause whether or not the transportation of persons between states is commercial
-even if its not congress can still regulate it

64
Q

Congresses action in removing the disruptive effect which it found racial discrimination has on interstate travel

A

is not invalidated because congress was also legislating against what it considered to be “moral wrongs”

65
Q

IntraState Commerce (Alli BBQ)

A

small restaurant where you getting buns? out of state affects interstate commerce
-Grind own beef
if there were enough little restaurants refusing to serve people based on sales would affect interstate commerce because the black people can’t eat anywhere–affects interstate commerce

66
Q

Bakery

A

goes against religious belief

67
Q

What can state do?

A
  • state can regulate commerce

- state and communities can regulate because by police power can regulate on health, safety, and morals

68
Q

Dancing establishment

A

next to kid establishment

stop them? can you?

69
Q

State and local regulation of commerce

A

can both regulate through police power

70
Q

Police power

A

anything relating to health, safety, or morals of a community (ex water barricade)

71
Q

Local morals

A

strip club

72
Q

Agency

A

any governmental unit other than the legislature or the courts, usually created by legislature because not all regulation physically can be handled by legislative body
-all agencies pass rules

73
Q

Setup

A

miniature governments; Department of Home Land Security; if created by legislature have enabling legislature

74
Q

enabling legislature

A

unable to exist; created by executive government have to create own guidelines

75
Q

Executive function of agency

A
  • oversight of agency
  • implementation (gov’t enabling legislature) (President creates rules)
  • Control for enforcement of their rules
76
Q

Legislative function of agency

A

rule making

1) interpretative rules
2) procedural
3) Legislative important

77
Q

Interpretative rules

A

interpret the enabling legislative

78
Q

Procedural

A

noncontroverseral–> layout internal procedures

79
Q

Legislative important

A

express policy and are treated exactly like laws

80
Q

Pocession of Marajuana

A

Drivers license 6 month; legislative rule

81
Q

Informal Rule making

A

write in and see what you want about change

82
Q

Formal Rule making

A

hearing, can show up, voice concern

83
Q

Exhausting administrative remedy

A

go through all of their appeals

84
Q

Administrative law judge

A

3rd room speaker phone; not a real judge–> lawyer

gang to lose hearing-bias

85
Q

3M TA3

A

can’t have sub-seen license plate

-under Iowa law if name is sub-seen– word let him have it

86
Q

FCC vs Pacifica Foundation

A 
words considered dirty- George Carlin
7 words can't say on TV
1972
turn off if you don't like hearing it.. what if you turn it on halfway through?
Dad and 6 year old boy
87
Q

Federal Communications

A

in charge of fines; sued over Janet Jackson “nude” disclosure which was on for 1.5 seconds
marketing brass nipple gaurd
-8 years in hearing + tax $

88
Q

George Carlins case

A

monologue on air 1972 couldn’t play now; 6 year old child was listening when aired
1st amendment issue? can you do that?

89
Q

FCC

A

power to regulate content of obscene material

90
Q

Prurient

A

content that is meant to get you sexually aroused
obsence material is anything prurient
“Supreme court said we know it when we see it”

91
Q

Supreme COurt

A

indecent FCC can regulate your context only between 10pm and 5am can be played
ex. Comedy, HBO, Serious (have to purchase them)

92
Q

Corporations

A

most formal; require a filing of articles (articles of incorporation) in state in which you want to incorporate
Filing fee: get money out of you
-should hire lawyer
-have to file minutes of meetings with secretary of state

93
Q

Centralized Managment

A

benefit; elect board of directors; elected by shareholders

94
Q

Board of Directors

A

appoints officers

95
Q

Officers

A

run operation day to day

96
Q

Business Judgment Rule

A

if Corp makes bad decision–can’t sue Ex. Coke

97
Q

Martha Stewert

A

insider trading–stock broker called her and told her President is dumping his stock; she also falsified document Stocks went from $40 to $2
can sue if based on criminal act

98
Q

Shlensky vs Wrigley 1968

A

Wrigley owned 80% of cubs; doesn’t want to put lights in wrigley field; stockholders approach wrigley with white socks financial figures; more $ not at night because tradition in day; Shlensky and minority shareholders sue–comparable to Coke

99
Q

Shareholder Derrivative Suite

A

sue on criminal not if on decision

100
Q

Perpetual Existance

A

exists till intellectually taken apart

Corporations have to have transfer ability of shares

101
Q

Tax @ Corp

A

taxed at Corporation level and individual level

102
Q

Double taxation

A

taxed at Corporate level and individual level

103
Q

Partnerships

A

join up in law practice or account; going to be someone doing less than everyone else

104
Q

Benefits of Partnership

A
  • don’t have to file anything (not required)

- partnership agreement: including planning for failure

105
Q

Downside of Partnerships

A
  • unhappy
  • joint and several liability: forget to file $300,000 lawsuit; screw up; other partner responsible
  • criminal activity liable?–New or should have known
106
Q

Durration of Partnership

A

dissolves and reforms every time a new person is added or dropped
usually unknown to public

107
Q

Fiduciary Duty

A
  • loyalty
  • Accounting
  • Non Competition
108
Q

Breeched Judiciary Duty

109
Q

Veale vs Rose; Partnership Agreement

A

can have outside business interest as long as it doesn’t compete with accounting partnership
One of the men owns a grocery store
-partners performance of accounting duties for grocery store
-yes breaching judiciary of loyalty and non competition

110
Q

Sole Proprietorship

A 
0 formality; bough a sign
-life is dependent on owner
-have to know personality type (type A)
-taxes (suck) --> Federal State 46%
pay quarterly taxes-- math error $125 put tax $ in separate account
-schedule great
111
Q

Hibrids

A

Limited liability;

112
Q

Subchapter S

A

part of internal reveunue code
small up to 100 shareholders
taxes as pass through

113
Q

S Corporation

A
  • pass through

- up to 100

114
Q

Limited Liability Company (LLC)

A

terminology changes

  • not share holders–members*
  • file articles of Corporation
115
Q

LLP Partnership

A
  • big Accounting firms
  • for partners who are in a different country
  • limits liability in country
116
Q

Securities Law

A

New 1) Securities Act of 1933

Old 2) Securities Exchange Act 1934

117
Q

1933 Securities Act

A

initial public offerings (new)

-new securities on market- FB

118
Q

Prospectus

A

information to investor
1) information on Company and what it does
2) audited Financial statements which include (income statement, statement of cash flows, and balance sheet)
prepared by management given to accountants

119
Q

1934 Securities Exchange act

A

traded on open market; required disclosure of information through quarterly and annual reports (cash flows, income statement, Balance sheet)

120
Q

Insider trading

A

any person with knowledge not available to the public; tippers and tippees all insiders

121
Q

Civil Actions

A

securities exchange commission can civil oppose 300% of profit or falsified document $750,000 per person

122
Q

Willful violations Criminally of 34 and 33

A
  • up to 20 years of jail time and
  • up to $25 million of fines
  • additionally of 300%
123
Q

Antitrust Law

A

restraints of trade

we like open free markets because we think that competition increases quality decreases cost

124
Q

Sherman Antitrust Act 1890

A

persevering competition; forced by federal trade commission

125
Q

Clayton Act 1914

A

forced by federal trade commission

126
Q

Sherman Act

A

prohibitted

  • restraints of trade
  • Monopoly (1 seller or firm has more than 50% of market)
  • passed over oil and railroads
127
Q

Injunction

A

make you stop doing what you are doing

-primary weapon

128
Q

Clayton Act

A

-closes behavior gap leading up to monopoly and restraints of trade

129
Q

Big Cement Co vs Little Cement Co

A

LCC 1 plant- family owned

-Big–many and came into small town manufactured under manufacturing cost

130
Q

Predatory pricing

A

lower costs to drive out and then go back up

131
Q

Walmart

A

insulin drug bought from Walmart

cheaper than from distributor

132
Q

International ethics and law

A

1997 Globe Shrunk because of internet
contracts with international failure
specify in contract where going to be heard or stuck with international law

133
Q

International Law

A

derived from treaties, conventions, and customs

134
Q

Comity

A

should follow treaties and customs you agree to because it is the ethical thing to do, if failed to plan for failure alternatives go to international court of justice-not bound

135
Q

International Court of Justice

A

very loose, not unified

ex. France
- offer and Acceptance

136
Q

Foreign Corrupt Practices Act

A

prohibits bribery-illegal in US

American Business men work in Russia and they are suppose to bribe them what do you do? can’t bribe but can greece

137
Q

Greece

A

regulatory expected payment to government official

ex golf in Japan for $2000 no too much

138
Q

Customs

A

place we get international law from

exists when 2 conditions are met

139
Q

2 conditions under customs

A

1) when an action is followed consistently and repeatedly

2) considered binding by the nations observing it

140
Q

Direct Contract

A

not evidence of multinational enterprise

living in separate countries form contract together

141
Q

Evidence of Multinational Enterprise

A

1) foreign Representation
2) Joint-Venture
3) Branch office or Subsidiary
4) Licensing
5) Franchising

142
Q

Foreign Representation

A

American Party sells in a foreign country through a representative agent or distributor

143
Q

Joint-Venture

A

2 parties enter an agreement for one project for a specified time period (ex John Deer and Yamar (Japan))

144
Q

Branch Office or Subsidiary

A

division liable for branch office in foreign country not liable for subsidiary in foreign country

145
Q

Licensing

A

Coca-Cola

Very adaptable to cultural taste; sell license for representative to sell products

146
Q

Franchising

A

McDonald’s
Last evidence of multinational enterprise
tel you where to buy supplies
pays franchiser for a license to use trademarks, formulas, and other trade secrets

147
Q

Burger King

A

ex of Franchise
Hawaiian burger
tight franchise
paying for advertising, supplies of company

148
Q

Government defenses in international law

A

1) Act of State Doctrine

2) Sovereign Ammunity

149
Q

Act of State Doctrine

A

a judge in one country will not question the decisions of another country acting within their own boarders
ex. women in Saudi Arabia

150
Q

Sovereign Ammunity

A

A US citizen cannot sue a foreign country in the US court unless 1) the action happened inside the US 2) foreign nation agrees to be sue in US courts (ex. Germany sued in NY) 3) the action has a substantial economic impact inside US

151
Q

Martin vs Republic of South Africa

A

1984; political policy; South Africa out numbered
U of I– a lot of $ invested in South Africa Government
on parents weekend; students made signs and chanted
Martin–dancer; US Citizen, black; got into a car accident and needed medical attention 2 hospitals wouldn’t take him got him on plane to come back to US but permanently disabled because it took too long
lost not substantial amount of impact

Leg @ Soc (3 decks)

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