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OPPORTUNITY SEEKING > WEEK 5 > Flashcards

WEEK 5 Flashcards

1
Q

is a set of rules of conduct or
procedure established by customs, agreement or authority.

A

Law

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2
Q

purposes of laws are to:

A
  • maintain order
  • establish standards
  • resolve conflict
  • protect individual rights and liberties
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3
Q

are passed by Congress and represent one of the primary sources of laws.

A

Statutory Laws

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4
Q

BRANCHES OF GOVERNMENT

A
  • Executive Branch
  • Legislative Branch
  • Judicial Branch
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5
Q

EXECUTIVE BRANCH

A

President
Vice-President
Cabinet

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6
Q

LEGISLATIVE BRANCH

A

Senate
House of Representatives

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7
Q

JUDICIAL BRANCH

A

Supreme Court
RTC, MTC
Special Courts

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8
Q

is based on the concept of precedence, which requires judges to decide based on prior rulings or, at minimum, consider the reasoning of prior judges when deciding a case with similar facts.

A

Common Law

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9
Q

As outlined by the
Indiana Court System, “When a decision is made by a higher court, the lower courts must follow
it.”

A

alalahanin mo lang

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10
Q

deals with behavior that is or can be construed as an offense against the public, society, or the
state—even if the immediate victim is an individual.

A

Criminal Law

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11
Q

deals with behavior that constitutes an injury to an individual or other private party, such as a corporation. cases are initiated (suits are filed) by a private party (the plaintiff);

A

Civil Law

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12
Q

is a violation of civil law that causes harm or injury (intentional or accidental) to a person or
property and an associated legal liability on the part of the person who commits a tortious act.

A

Tort Law

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13
Q

involves harm that arises from unintentional action.

A

Negligence

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14
Q

is the area of tort law in
which product manufacturers, distributors, and sellers are held responsible for the injuries caused by their products.

A

Product Liability

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15
Q

have a responsibility to
produce products that are reasonably safe
in both their intended and anticipated uses.

A

Manufacturers

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16
Q

are intended to compensate for the wrong and restore the plaintiff to
their pre-incident position. In setting compensatory damages, courts are governed by the
recovery principle, paying a single lump sum that accounts for past and future expenses.

A

Compensatory Damages

17
Q

are awarded in extreme cases where behavior is considered to be so socially unacceptable that the court needs to make an example of the defendant.

A

Punitive Damages

18
Q

is an idea— an intangible asset—and patents, copyrights and trademarks are statutory forms of IP.

A

Intellectual Property

19
Q

There are three main ways to protect intellectual property:

A

Patents
Trademarks
Copyrights

20
Q

grants an inventor “the right to exclude others from making, using, offering for sale, or
selling the invention.

A

Patent

21
Q

Three patent categories:

A

Design
Utility
Plant

22
Q

patents make up 90% of patents issued and protect how inventions work

A

Utility

23
Q

patents represent less than 1% of patents issued in 2017.

A

Plant

24
Q

patents are based on an article’s appearance and prevent unauthorized use of a
product design or design element

A

Design

25
Q

give its creator the exclusive right to their original work for a limited time and are issued by the Library of Congress.

A

Copyrights

26
Q

as “a word, phrase, symbol, or design, or a combination thereof, that identifies and distinguishes the source of the goods of one party from those of others”.

A

Trademarks

27
Q

Three factors are considered in Trademarks:

A

Visual Appearance
Sound
Meaning

28
Q

is a type of guarantee that a manufacturer or similar party makes regarding the condition of its product. It also refers to the terms and situations in which repairs or exchanges will be made if the product does not function as originally described or intended.

A

Warranty

29
Q

The Business Law and the Legal Environment authors define ______ as “a legally enforceable
agreement,” noting that while we make a number of casual promises

A

Contract

30
Q

Four required elements to an enforceable contract/Legal Contracts:

A
  • Offer and Acceptance
  • Consideration
  • Legal Capacity
  • Legality
31
Q

The University of New Mexico’s Judicial Education Center defines ___________ as “a failure, without legal excuse, to perform any promise that forms all or part of the contract.

A

Breach of Contract

32
Q

When a breach is _______, the non breaching party is released from performing their obligations under the
contract.

A

Material

33
Q

If the breach is ____________, the nonbreaching party is held to the contract but may sue for damages resulting from the breach.

A

not material / immaterial

34
Q
A

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