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Buisness law > power point exam 2 > Flashcards

power point exam 2 Flashcards

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1
Q

Tort?

A

A civil wrong causing injury to a person, their property, or their economic interests.

example Mcdonalds hot coffe

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2
Q

types of damages?

A

Compensatory Damages

Punitive Damages

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3
Q

Compensatory damages

A

compensation for losses of the plaintiff

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4
Q

Punitive damages:

A

are damages awarded in excess of normal compensation to punish a defendant for a serious civil wrong.

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5
Q

When is a tort committed?

A

When a duty owed by one person to another is breached proximately causing injury or damage to the owner of a legally protected interest.

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6
Q

What is intent

A

Intent is defined as desire to cause the consequences of an act or knowledge that the consequences are substantially certain to result from the act.

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7
Q

A defendant’s conduct in a case is privileged if?

A

it furthers an interest of such social importance that the law grants immunity from tort liability for damages to others.
Example of privilege include self defense, defense of property and defense of others.•Consent to the defendant’s conduct is a defense. (think of sports injuries)

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8
Q

battery is?

A

intentional infliction of harmful or offensive bodily contact.

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9
Q

Example of Battery is

A

(1) Bodily contact is offensive if it would offend a “reasonable” person’s sense of dignity.
(2) if the bus suddenly stops and A falls over B this is not a battery.
(3) A slaps B. This is an example of a battery

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10
Q

Lawful confinement?

A

Lawful confinement does not subject a merchant to the tort of false imprisonment.
probable cause, in a reasonable manner and for not more than reasonable time.

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11
Q

False imprisonment

A

is intentional interference with a person’s freedom of movement by unlawful confinement

A is shopping at Walmart. Walmart loss prevention staff suspect A of shoplifting. What can Walmart do?

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12
Q

Assault

A

Intentional conduct by one person directed at another that places the other in apprehension of imminent/immediate bodily harm. I

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13
Q

example of Assault

A

A points gun at B and fires injuring B. A is liable for assault and battery.

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14
Q

Negligence is?

A

conduct that falls below the standard established by law for the protection of others against unreasonable risk of harm
Examples of negligence include: A driver who runs a stop sign causing an injury crash. A store owner who fails to put up a “Caution: Wet Floor” sign after mopping up a spill. A property owner who fails to replace rotten steps on a wooden porch that collapses and injures visiting guests.

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15
Q

5 elements of a claim of negligence

A

duty of care, breach of duty, factual cause, harm and scope of liability.

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16
Q

Duty to act in society?

A

A person has the duty to act “reasonably” under all the circumstances.

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17
Q

The duty to aid or protect others legally arises in which kind of situations

A

the context of a special relationship.•Examples are:•Common carrier with passengers•An inn keeper with guests

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18
Q

Example of duty to act

A

You hear a child struggling in the pool. You think to yourself this is not my problem. The child drowns.
Morally and ethically you are at fault for not helping but legally youre not. But if you are a parent or baby sitter of the child you are legally required to act.

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19
Q

Three status and dutys

A

trespasser, licensee and invitee.

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20
Q

Trespasser definition

A

a person who enters or remains on the land of another without permission or privilege to do so

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21
Q

Licensee Definition

A

person privileged to enter or remain on land by virtue of the consent of the lawful possessor.

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22
Q

Invitee Definition

A

person invited upon land as a member of the public or for a business purpose

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23
Q

Obligations of?
Duty to trespasser
Duty to licensee
Duty to invitee

A

Duty to trespasser: not to injure intentionally.

  • Duty to licensee: To warn of known dangerous conditions licensees are unlikely to discover for themselves.
  • Duty to invitee: to exercise reasonable care to protect against dangerous conditions possessor should know of but invitees are unlikely to discover.
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24
Q

What is a contract?

A

A contract is a binding agreement that the courts will enforce.

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25
Q

The requirements of a contract

A

The requirements of a contract are mutual assent, consideration, legality of subject and capacity.

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26
Q

A valid contract is a

A

A valid contract is a contract that meets all the requirements of a binding contract

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27
Q

A void contact is

A

A void contact is an agreement without legal effect. It’s like it never happened.

28
Q

An example of a void contract is

A

An example of a void contract is that entered by a person the court declared incompetent.

29
Q

A voidable contract is

A

A voidable contract is a contract that could be voided.

30
Q

Example of voidable contract is?

A

ane was 17 when she signed a contract to buy a car. That contract is voidable- can be cancelled- by Jane but not by the dealer.

31
Q

Unenforceable contract

A

Unenforceable contract is a contract for the breach of which the law does not provide a remedy.
•It’s neither void nor voidable
It isn’t enforceable because the statute of limitations has run (the number of years allowed to bring a claim) OR for failure to satisfy the statute of frauds (a law that states that certain contracts have to be in writing in order to be enforceable).

32
Q

Quasi contract

A

when the seller of a service mistakes one persons property for another.

33
Q

example of quasi contract

A

Someone accidentally painted you house or painted your car or shoveled driveway. you do still have to pay them.

34
Q

Offer

A

An offer is a proposal indicating a willingness to enter into a contract.

35
Q

Duration of an offer?

A

he offer remains open for the time period specified or if no time is specified for a reasonable time.

36
Q

Offeree

A

offeree is the person to whom the offer is made.

37
Q

Offeror

A

Offeror is the person making the offer.

38
Q

Revocation

A

Revocation: cancellation of an offer by an offeror- an offer may be terminated at any time before it is accepted.

39
Q

Some of the ways that end an offer

A

Revocation•Counteroffer•Rejection•Death or incompetency of the offeror. If John offers to sell his bike for a hundred dollars and has a heart attack right after and dies- that offer has died with him.•Destruction of subject matter: If the offer is made and then the bike is run over by a truck and destroyed, the offer is terminated.

40
Q

Subsequent illegality

A

If an offer is made but then the purpose or subject matter of the offer become illegal that terminates the offer.

41
Q

An example Subsequent illegality

A

An example a state legalizes marijuana and then reverts back to criminalizing it.

42
Q

Consent to enter into a contract is not effective. Five situations where this occurs:

A
  • Duress
  • Undue influence
  • Fraud
  • Non-fraudulent misrepresentation
  • mistake
43
Q

duress

A

Duress is wrongful or unlawful act or threat that overcomes the free will of a party.

44
Q

2 types of duress

A

Physical duress and improper threars

45
Q

Physical duress

A

: coercion involving physical force renders the agreement VOID.

46
Q

Improper threats or acts

A

including economic and social coercion render the contract VOIDABLE

47
Q

Void means

A

Void means it’s like it never happened. Usually said null and void.

48
Q

Voiable means

A

Voiable means the aggrieved party is able to get out of the deal if they want. The other party is bound by the contract unless the aggrieved party want to be out of the deal.

49
Q

Physical duress example

A

Mary points a gun at John’s head asking him to sign a contract with her for her to paint his house. This contract is void.

50
Q

Undue influence

A

The unfair persuasion of a person by a party in a dominant position based on a relationship of trust and confidence.

51
Q

Examples of relationships that create situations of undue influence are:

A

guardian-ward, trustee-beneficiary, agent-principal, spouses, parent-child, attorney-client, physician-patient, and clergy parishioner.

52
Q

How to handle an undue influence situation?

A

Fully disclose all relevant information about the transaction•Make sure the contract is fair and that the other party obtains independent advice about the transaction.

53
Q

Fraud

A

t’s ok to be sharp and good in business but fraud makes the contract void or voidable.

54
Q

Fraud is of two types

A

Fraud in the execution

Fraud in the inducement

55
Q

Fraud in the execution

A

a misrepresentation that deceives the other party as to the very nature of the contract; renders the agreement VOID.

56
Q

Fraud in the execution example

A

Celebrity Will Smith is presented with a paper and told it’s for a fan asking for his signature. He signs it and it turns out to be a contract. The contract is void.

57
Q

Fraud in the inducement

A

Is misrepresentation regarding the subject matter of a contract that induces the other party to enter into the contract ; renders the contract VOIDABLE

58
Q

Fraud in the inducement example

A

when a car sellsman holds a contract and says its blah blah blah but it means something comepletley different

59
Q

The 5 requisites for fraud in the inducement are:

A

A false representation•Of a fact•That is material and•Made with knowledge of its falsity and the intention to deceive•Which representation is justifiably relied on

60
Q

John rings your door bell and asks if he can use your bathroom? You say yes and let him in. What is the legal status of John?
Now let’s say that John is in fact a thief and he enters your bedroom after he is done using the bathroom. what is johns status legally

A

(1) John is a licensee.

(2) Now the status of John has changed to that of trespasser

61
Q

What is a plantiff and what is a defendant

A

Plaintiff, the party who brings a legal action or in whose name it is brought—as opposed to the defendant, the party who is being sued.

62
Q

what is Mutual assent

A

Mutual assent is step # 1 in determining whether we have a contract.•Commonly referred to as meeting of the minds-

63
Q

what is Consideration

A

To have a contract we need to have consideration from both parties to a contract.

64
Q

legality of object

A

the purpose of a contract must not be criminal, tortious, or otherwise against public policy

65
Q

capacity

A

Capacity is the legal ability to enter into contracts

66
Q

contract equation

A

K= O+A+C+legality +capacity

67
Q

Valid contract equation

A

Valid contract= Offer+accceptance+consideration+capacity +legality

Buisness law (29 decks)

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