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Business Crime
| Term | Definition |
|---|---|
| Vicarious liability | Holding companies accountable for criminal conduct of their officers |
| elements | requirements of proof for crimes |
| Mens rea | requisite mental state for committing a crime |
| Actus reus | Physical act of committing a crime |
| Penalties | punishments for commission of crimes; include fines and imprisonment |
| Corporate sentencing guidelines | Federal rules used to determine level of penalties for companies and officers; reduced for cooperating and increases for lack of effort |
| obstruction of justice | interfering with the work of police. destruction of evidence. |
| computer crime | crimes committed while using computer technology |
| Racketeer Influenced an d Corrupt Organizations (RICO) | to prevent racketeering by intensifying the punishments for engaging in certain criminal activities more than once |
| Fourth Amendment | protects against invasions of privacy; the search warrant amendment |
| fifth amendment | self incrimination protection |
| sixth amendment | right to trial protection |
| search warrant | judicially issued right to examine in any area |
| Miranda warnings | advice require to be given to those taken in custody; right to remain silent and lawyer |
| due process | right to trial before conviction |
| warrant | public document authorizing detention of an individual for criminal charges |
| initial appearance | defendant's first appearance in court ot have charges explained |
| preliminary hearing | presentation of abbreviated case by prosecution to establish sufficient basis to bind defendant over for trial |
| theft or embezzlement | employee steals from the company they work for |
| software theft | program or ducments stolen from a company |
| intentional damage | to do harm intentionally |
| Tort | action by another that results in damages that are recoverable |
| intentional tort | civilly wrong conduct that is done deliberately |
| negligence | conduct of omission or neglect that results in damages |
| contributory negligence | negligence on the part of a plaintiff that was partially responsible for causing injuries |
| Comparative negligence | reduces a plaintiff's recovery by the amount his negligence contributed to the cause of the accident |
| emissions offset policy | new plants not built until new emissions are offset by reductions elsewhere |
| Environmental Protection Agency(EPA) | federal agency responsible for enforcement of environmental laws at the federal level |
| Oil Pollution Act(OPA) | federal law imposing civil and criminal liability for oil spills |
| 3 categories of of pollution | conventional, non conventional, toxic pollutants |
| non attainment areas | areas with significant air pollution problems |
| National Environmental Policy Act(NEPA) | federal law that requires federal agencies to assess environmental issues before taking actions |
| Resource Conservation and Recovery Act(RCRA) | federal law controlling disposal of hazardous waste through a permit system |
| Comprehensive Environmental Response, Compensation, and Liability Act | federal law providing funds and authority for hazardous waste site cleanups |
| Effluent guidelines | standards for release of nonnatural substances into natural waters |
| two categories for determining areas for business growth | attainment areas and prevention of significant deterioration |
| Toxic Substance Control Act | authorized EPA to control the manufacture, use, and disposal of toxic substances |
| International Organization for standardization | emphasize not only compliance but also self audits and self correction |
| Contract | a promise or agreement between two parties |
| bilateral contract | contract of two promises; one from each party |
| unilateral contract | contract made of a promise for performance |
| Uniform Commercial Code (UCC or the Code) | to harmonize the law of sales and other commercial transactions |
| UCC (article 2) | Sales of goods |
| UCC (article 2A) | Leases of goods |
| Stages to form a contract | Offer, Offerer,offeree Revocation counteroffer acceptance consideration |
| Offer | is the first part of a contract |
| offerer | the person making the offer |
| offeree | the person who receives the offer |
| revocation | the offeror cancels the offer |
| counteroffer | counter proposal to the offer |
| acceptance | offeree's positive response to an offer |
| consideration | something of value exchange by the parties that distinguishes gifts from contracts |
| liability rules | owner,operator, transportation, & director |
| Clean water act | federal governing water pollution |
| Best Conventional treatment (BCT) | cheap way o clean |
| Best Available Treatment (BAT) | Expensive way to clean |
| Contract Defense | -situation, term, or event that excuses performance Capacity misrepresentation Illegal or public policy violations |
| Capacity | -mental and age thresholds for valid contracts Age- must be 18 years or older; minors are voidable contract Mental-if the party is incompetent |
| Misrepresentation | lying to the contract from party |
| criminal statutes | contracts that are agreements to commit a crime are voice |
| licensing statute | authorized to perform such services |
| usury laws | excess of interest of loans of state limit |
| public policy | violates certain standards of fairness or encourage conduct |
| Illegal or public policy violations | criminal statute licensing statute usury law public policy |
| contract performance | obligation of performance after contracts are done |
| Conditions | events that must occur before contract performance is due |
| condition precedent | an event or action that must take place before a contract is required to be performed |
| concurrent condition | must occur simultaneously for contract performance to be required. same time |
| substantial performance | performing a contract differently. |
| compensatory damages | damages to put non breaching party in the same position he would been had the breach not occurred. |
| incidental damages | damages suffered by the party to a contract as a result of the breach |
| commercial impracticability | excuses performance of a duty, where that duty has become unfeasibly difficult or expensive for the party who was to perform. |
| elements of negligence | the duty,breach of duty, causation |
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