MGMT 246 Flashcards
Felony
any crime punital at state penetry
Misdemeanor
anything else (night @jail/fine)
Infraction
if you dont mean it, might not be a crime called negligence
ex) parking tickets, jay walking
Larceny
Wrongful taking and carrying away of the personal property of another with the intent to permanently deprive the owner thereof
ex) stealing; took personal property
Robbery
taking of personal property; Larceny with force or threat of force
Burglary
BREAKING an ENTERING the dwelling house of another at night with the INTENT to commit a felony therein
Arson (not on exam)
Intentional burning of the dwelling house of another
Forgery
FRAUD - The fraudulent making or altering of a document
Cyber Theft
obtaining, altering, spying and other fraudulent acts involving electronic/ computer information
Types of Defense (legal excuse) to crimes
Self defense
insanity, infancy and intoxication
immunity
statue of limitations
double jeopardy (5th amendment)
Torts (TYPES/ FORMULA)
Duty
Breach
Cause
Damages
Defenses
ASSULT + BATTERY = TORTS
Immunity
FREEDOM FOR EXCHANGE - a chance of self incrimination
Statue of limitations
Crimes = Civil wrongs: prosecute certain # years
SPEEDY TRIAL 6TH AMENDMENT (TIME, CRIME)
Double Jeopardy
5th amendment- Can’t be charged w/ same crime twice
What are the Various of Torts? (8)
Intentional infliction of emotional distress
fraud
defamation
Interference with contractual relations
Invasion of privacy
Trespass
Assault
Battery
What are the types of Defamation?
Libel-Written
Slander- Verbal
Battery
is the harmful or offensive unconsented touching of another
Assault
is an attempted battery
Negligence
is the failure to act as a reasonable person would act under similar circumstances
- involves mental state in which defendant unjustified , substantial, forcable risk that results in harm.
EX) killing someone on accident
What are the types of Negligence?
Defenses to Negligence
Res Ipsa Loquitur
Defense to Negligence
- Assumption of the Risk
- Contributory Negligence
- Comparative Negligence
Res Ipsa Loquitur
The facts speak for themselves
Professor Dog Name and how much does he weight?
Butch; 120lbs
What are the constitutions 3 branches
Executive- white house (people pleaser)
Legislative- congress
Judicial- courts
Law Definition and types?
Provide structure; criminal & civil
Criminal law
The people
ex) Mexico v. United States
Civil law
everything else (contracts/accidents)
ex) people v. people
Common Law
A case law with a judge
Modern law
first law- U.S constitution
Courts
to hear and decide disputes; sometimes 3 or 1 judges reason for being a body
Types of Courts
State and Federal
Jurisdiction
Each type of power or authority
Types of Jurisdiction
(I) original jurisdiction- trial court
(II) Appellate Jurisdiction - do not conduct under trial
- review trial court/nothing
- no new evidence
(III) General Jurisdiction - state: family law
(divorce, children, will)
- limited: hear 1 type of matter (copy right, tax, bankruptcy)
Federal Court System
a) U.S. supreme court (highest court)
- picked whatever case they want
-created by U.S. constitution
b) federal court of appeal - circuit court
c) district court - placed every city like McDonalds
d) other federal courts (tax, patent, admiralty, etc.)
State Court System
all trial courts: state supreme, state courts of appeal, superior, municipal, small claims
Codes
created by authors (someone signing doc)
Case
decisions….
Court Procedures?
1) complaint - plantiff (filing sue complaint)
2) service of process (SUMMON - served)
3) Answer (other response) - defendant story; failed to respond the plantiff wins by default
4) motion - request (move court date)
5) discovery - evidence (build case)
6) trial - each side please case
7) Post trial- jury decides
steps in trial?
trier of facts (jury or judge)
evidence (testimony tangible)
examination (direct-cross)
opening statement (closing argument)
Post trial?
a) mistrial
b) judgment
c) appeal
d) execution
defendant
if failed to respond, plantiff wins by default
which case is priority?
criminal are priority over civil cases
intent
if you didnt mean it might not be a crime called negligence
ex) shot gun- cleaning riffle killed someone
state security law is referred to as…?
blue sky laws
sole Proprietorship
Typically thought of as a “mom and pop” or family business
Sole Proprietorship attributes
(+) attributes: easy to form, manage, inexpensive, easy to control
(-) attributes: personal liability, limited money- only use the money you borrow or have
Partnership
is a contractual (contract) relationship for a common business venture that may be verbal or written
Types of Partnership
General - comprised of two (2) or more partners
Pro: easy, inexpensive, enhance ability to raise capital, diverse, visual for al the debt
Cons: joint, several personal liability of all
Limited - compised of two (2) groups of partners with at least (1) partner in each group
ex) doctors, lawyer that want to invest
pros- raise capital (money), significant tax benefits
cons - difficult manage, expensive
Franchise
is not a type of business, it is a method of doing business.
EX) mcdonald’s
LLC - Limited Liability Company
corporation and company combined - is a person, lives forever
def: hybrid that combines the limited liability aspect of a corporation and the tax advantage of a partnership
article of organizations
must be filed with a central state agency— usually the secretary of state’s office
LLC advantage and agreement
advantage - owners have limited liability
Agreement- operate needs a structure
Tort liability
shield of liability “personal liability” - to protect you
criminal acts:
if your corporation dumps poisonous toxic waste down the river, its a crime, at common law the owners’ shareholders wont go to jail
Modern law they don’t care, you would go to jail
Public and private corporations:
public, private you start at your home like amazon and no it is public on “air”.
Google is goes public with their stocks; money starts coming
nonprofit organization
chairty - doesnt pay taxes
Corporations
in order to finally breath and live prepare the bylaws
enter contracts, own property, party to lawsuits, hire, fire
pros: raise capital, shareholders director- manage, officer
cons: difficult manage, more expensive, complicated, business structure
debt v. equity
debt - loans/selling bonds
benefit debt - no personal liabililty
equity - selling stocks
would be hard to tax?
when a corporation makes money and earns profit pays income tax and then if your corperation gives you money you pay taxes.
shareholders- tax twice, in order to avoid double taxation
- we want IRS to ignore the profits earned and charge the individual shareholders owners
Miscellaneous
a) ownership of each type of business organization
b) how to create each business organization
c) how to raise capital - private vs. public and stocks vs. bonds
d) role of government
e) ethical issues for business
f) other legal issues
Real Estate
English common law
i) to the “center of the earth” and “to heaven”
ii) reasonable use- modern law
types of property
compare and contrast intellectual, real, and personal property
difference between “ownership” and “possession”
Types of ownership
a) fee simple
b) life estate
c) pur autri vie
types of possession
a) leases
i. tenancy for years
ii. periodic
iii. month to month
b) easement - the right to use another person’s property for a specific purpose
Title “vesting”
a) grant deed vs. bill of sale
b) sole of multiple owners
i. tenant in common
ii. joint tenancy
iii. community property (California)
iv. other states
c) common law vs. modern law ownership priority
i. first in time- first in right
ii. race notice
legal aspects of real estate finance
a) mortgage
b)escrow
c) the “players” -bank, seller, buyer, and broker -contract issues.
d) basic documents
e) foreclosure
Antitrust
public policy is to enhance competition in the market place by preventing unreasonable restraints on trade (monopoly -consipiracy)
Sherman Act.
Federal law passed in 1890 which attempts to prohibits “conspiracies” between businesses
Clayton act.
prohibits monopolies
Robinson Pattman Act
prohibits price discrimination
Horizontal and Vertical…
may violate antitrust laws (automatic)
“33” and “34: securities acts
federal law regulating initial issuance and resale of securtities
Term “securities”…
is not limites to stock
securities exchange commision
federal regulator
SEC Rules- 10b5,
Prohibits fraud
16b
- Short swing profits
14a
proxy solicitations
“insider trading” and “tippee”…
liability and ethical issues
types of stock
common
preferred
debt v. equity
