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Business Law Exam 1

Business Law Ch 1-3

TermDefinition
Law -A body of rules of action or conduct prescribed by controlling authority, & having binding legal force. -Must be obeyed & followed by citizens subject to sanctions or legal consequences is a late.
Legislative branch (Congress) has the power to make (enact) the law
Executive branch (president) has the power to enforce the law
Judaical branch (courts) has the power to interpret & determine the validity of the law
Treaty A compact made between two or more nations
Federal statues written laws enacted by the US Congress
Ordinance law enacted by local government bodies
Executive Order an order issued by a member of the executive branch of government
Administrative Agencies Agencies that the legislative & executive branches of federal & state governments are empowered to establish
Sources of the Law in the United States 1.Constitution 2.Treaties 3.Codified Law: statues & ordinances 4.Executive orders 5.Regulations & orders of administrative agencies 6.Judicial decisions
Civil Law redresses wrongs committed against another through compensation -Negligence=civil
Criminal Law redresses wrongs committed against another by punishing the wrongdoer -Murder=criminal
Brown vs. Board of Education The decision in this 1954 U.S. Supreme Court case deviated from the precedent set in the 1896 U.S. Supreme Court decision in Plessy vs. Fergussan where in the principle of "separate but equal" was established
limited-jurisdiction trial court (inferior trial court) a court that hears matters of a specialized or limited nature -hears small cases
intermediate appellate court (appellate court or court of appeals) -a court that hears appeals from trail courts -they determine any errors that were made at trail
State Supreme Court -the highest court in a state court system -decisions of Supreme Courts are final-Authorized to hear appeals from intermediate appellate courts and directly from certain trial courts -No new testimony or evidence heard
petition for certiorari a petition asking the Supreme Court to hear a case
writ of certiorari an official notice that the Supreme Court will review a case
General-jurisdiction trial courts -Referred to as courts of record because testimony and evidence is recorded and stored -Authorized to hear cases that are not within the jurisdiction of limited-jurisdiction trial courts -hears big cases
Federal question case a case arising under the U.S. Constitution, treaties, or federal statues & regulations
diversity of citizenship -A case involves a plaintiff and a defendant who are citizens of different US states or one of these persons is a citizen of a US state and the other is a citizen of a foreign country -& a dollar amount exceeding $75,000
Plaintiff The person who files a law suit
Defendant The person who is sued
In rem jurisdiction Jurisdiction to hear a case because of jurisdiction over the property of the lawsuit, regardless of whether the parties live in the state
Quasi in rem jurisdiction Jurisdiction that allows a plaintiff who obtains a judgment in one state to try to collect the judgment by attaching property of the defendant located in another state
U.S. District Courts -Trial courts of general jurisdiction -These courts serve geographical areas referred to as districts. -What do they do?: Conduct trials,Impanel juries, Receive evidence, Hear testimony, Issue Opinions
U.S. Courts of Appeals -Intermediate appellate courts -Serve geographical areas referred to as circuits -What do they do?: Review the record of lower courts, determine if there has been any error of law, will not consider any new evidence or testimony
Types of Decisions issued by the US Supreme Court 1.Unanimous 2.Majority 1.all justices agree with the outcome and the reasoning 2.at least 5 justices agree with the outcome and reasoning
Federal courts have subject matter jurisdiction (power) over? Diversity of citizenship cases & Federal Questions cases
Diversity of citizenship jurisdiction exists when? A case involves a plaintiff and a defendant who are citizens of different US states or one of these persons is a citizen of a US state and the other is a citizen of a foreign country & a dollar amount exceeding $75,000
Federal Question jurisdiction arises when a case involves what? U.S. Constitution, Treaties, or Federal statutes and regulations
Concurrent Jurisdiction Means you can file your case in state or federal court
Exclusive jurisdiction -means ONLY the state or the federal court can consider the case -Federal courts have exclusive jurisdiction to hear the following: Federal crimes, Antitrust, Bankruptcy, Patent and copyright issues, Suits against the United States, Admiralty cases
Removal The defendant’s limited right to remove (transfer) a case filed in state court to a federal court
Long-arm statute A statute that allows for a state court to obtain personal jurisdiction over an out-of-state defendant because the out-of-state defendant committed certain acts in the state
Standing to Sue Plaintiff must have a stake in the outcome of case. So even if a court has jurisdiction it will not consider a case if plaintiff has no stake
Litigation Process a method for settling disputes in a court of law using a vehicle called a trial
Pretrial Litigation Process consists of: Commencement of the lawsuit by the filing of Pleadings, Discovery, Settlement conference, & Pretrial motions
Pleadings papers filed by the plaintiff (the person initiating the lawsuit) and papers filed by the defendant (the party being sued) in response to the lawsuit
Complaint Plaintiff files a complaint to initiate the lawsuit
Summons The court issues a summons when the Complaint is filed. -The summons notifies the defendant of the lawsuit and directs defendant to file an answer to the complaint
Service of Process Defendant should be served personally. This means the complaint and summons must be placed in the hand of the defendant
Answer defendant’s response to the complaint and summons. It is filed with the court and served on the plaintiff
Cross-complaint Can be filed by the defendant against the plaintiff (or a third-party) wherein the defendant alleges injuries caused by the plaintiff (or a third-party) and seeks damages or other remedy from plaintiff (or third-party)
Discovery A court sanctioned process through which plaintiff and defendant are permitted to discover, from each other, facts about the case and each others witnesses before trial
Deposition oral testimony given under oath by a party or a witness prior to trial and transcribed by a Court Reporter
Interrogatories written questions submitted by one party to another which must be answered within a time specified by court rules. The answers are signed under oath
Production of documents a request by a party that another party provide for inspection copies of all documents in its possession relating to the lawsuit
Physical and mental examination a court may, at a party’s request, order that another party submit to a physical or mental examination. This examination can only be requested in cases where the physical or mental condition of the party to be examined is placed at issue by that party
Objections A party can file objections to requests for depositions, interrogatories, production of documents, and physical and mental examinations
Motion A written or oral request by a party (movant) to a judge which asks the judge to enter an order favoring the movant
Pretrial Motion A request that seeks to dispose of all or part of a lawsuit prior to the trial
Motion to Dismiss Defendant files this before filing an answer asserting the complaint states no facts by which defendant could be held liable under applicable law
Motion for Judgment on the Pleadings Defendant or plaintiff files this after the Answer and all pleadings have been filed
Motion for Summary Judgment Defendant or plaintiff files this motion after the pleadings have been filed and usually after the discovery period closes
Settlement Conference is an informal proceeding over which a judge presides
7th Amendment states: In suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved. . ."
Jury gets to determine what are the facts & match that up against the law
Opening statements through their attorneys each party is provided an opportunity make opening statements during which they summarize the facts and legal issues in the case and the theory of the case
direct examination Plaintiff has the burden of proving entitlement to the relief sought. This is accomplished when plaintiff’s attorney calls witnesses to testify
cross- examination Defendant’s attorney will also ask questions of the witnesses that were called by plaintiff’s attorney
re-direct examination Plaintiff is allowed to question the witnesses called by the plaintiff
Closing Arguments Each party makes closing arguments to the jury at the close of testimony in the case
Judgment Notwithstanding the Decision -But the judge may overturn the jury’s decision -if it is determined the decision is not supported by the facts
Remittitur Judge reduces monetary damages awarded to plaintiff on the basis of jury bias or emotionalism
In a criminal case only the ____ can appeal Deffendent
Alternative Dispute Resolution (ADR) are methods of resolving disputes other than by litigation. ADRs are less formal and less time-consuming (and therefore, less costly) than traditional litigation
Arbitration -Parties choose neutral third party called to hear evidence and testimony and decide the case -They act as the judge/jury makes a decision and enters an award -Parties can agree to binding (non-appealable) or non-binding (appealable) arbitration
Mediation Parties choose a neutral third party called a Mediator to assist with settlement efforts Mediator is allowed to give opinions to either party about the strengths and weaknesses of their case
Burden of Proof Describes the threshold that a party to a lawsuit must reach to sufficiently establish a fact in a trial
Preponderance of Evidence The evidence is more likely true than not true
Trail Courts Court in which a case is considered for the first time
Appellate Courts Court that considers requests to determine whether the decision of the trial court was correct
Subject Matter Jurisdiction The power/authority to adjudicate the type of case before court
Personal Jurisdiction The power over the parties in the case
Created by: NickUD