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Business Law 1
| Question | Answer |
|---|---|
| common law | case after case. •case law: (civil law) a law established by following earlier judicial decisions |
| statutes | a law passed by a legislative body. statutes command or prohibit something, or declare policy.[ |
| substantive rules | state the rights of the parties |
| procedural rules | how a court should go about settling disputes |
| stare decisis | let the decision stand |
| public law | rights and obligations of governments as they deal with the nation's citizens |
| sovereign | recoginzed political power whom citizens obey |
| ethics | how people should act |
| alternative dispute resolution | any other formal or informal process used to settle disputes without resorting to a trial |
| litigation | lawsuits, the process of filing claims in court, and go to trial |
| jurisdiction | courts power to hear a case |
| appellant | party filing appeal |
| appellee | party opposing the appeal |
| briefs | written arguments in a case |
| reversed | nullified |
| affirmed | permitted to stand |
| writ of certiorari | asking the court to hear the case |
| pleading | documents that begin a lawsuit |
| complaint | short, plain statement of the facts she is alleging and the legal claims she is making |
| default judgement | meaning a decision that the plaintiff wins without a trial |
| counter claim | second lawsuit by the defendant against the plaintiff |
| reply | answer to a counter claim |
| motion | formal request to the court |
| motion to dismiss | request that the court terminate a case without permitting it to go further |
| discovery | pre trial opportunity for both parties to learn strengths and weaknesses of opponents |
| deponent | person being questioned |
| summary judgement | a ruling by the court that no trial is necessary because there are no essential facts in dispute |
| voir dire | to speak the truth |
| preponderance of the evidence | plaintiff's burden in a civil lawsuit is to prove its case |
| direct examination | when a lawyer asks her own witness a question |
| cross examine | asking questions of opposing witnesses |
| directed verdict | a ruling that the plaintiff has entirely failed to prove some aspect of her case |
| judgment non obstante veredicto | a judgment notwithstanding the jury's verdict |
| precedent | earlier decisions by the state appellate courts on similar or identical issues |
| affirm | allow decision to stand |
| reverse | to nullify |
| common law | case after case |
| statutes | a law passed by a legislative body |
| substantive rules | state the rights of the parties |
| procedural rules | how a court should go about settling disputes |
| stare decisis | let the decision stand |
| public law | rights and obligations of governments as they deal with the nation's citizens |
| sovereign | recoginzed political power whom citizens obey |
| ethics | how people should act |
| alternative dispute resolution | any other formal or informal process used to settle disputes without resorting to a trial |
| litigation | lawsuits, the process of filing claims in court, and go to trial |
| jurisdiction | courts power to hear a case |
| appellant | party filing appeal |
| appellee | party opposing the appeal |
| briefs | written arguments in a case |
| reversed | nullified |
| affirmed | permitted to stand |
| writ of certiorari | asking the court to hear the case |
| pleading | documents that begin a lawsuit |
| complaint | short, plain statement of the facts she is alleging and the legal claims she is making |
| default judgement | meaning a decision that the plaintiff wins without a trial |
| counter claim | second lawsuit by the defendant against the plaintiff |
| reply | answer to a counter claim |
| motion | formal request to the court |
| motion to dismiss | request that the court terminate a case without permitting it to go further |
| discovery | pre trial opportunity for both parties to learn strengths and weaknesses of opponents |
| deponent | person being questioned |
| summary judgement | a ruling by the court that no trial is necessary because there are no essential facts in dispute |
| voir dire | to speak the truth |
| preponderance of the evidence | plaintiff's burden in a civil lawsuit is to prove its case |
| direct examination | when a lawyer asks her own witness a question |
| cross examine | asking questions of opposing witnesses |
| directed verdict | a ruling that the plaintiff has entirely failed to prove some aspect of her case |
| judgment non obstante veredicto | a judgment notwithstanding the jury's verdict |
| precedent | earlier decisions by the state appellate courts on similar or identical issues |
| affirm | allow decision to stand |
| reverse | to nullify |
| veto | it is not law |
| promulgate | to create a new rule |
| subpoena | order to appear at a particular time and place to provide evidence |
| adjudicate | hold a hearing about an issue and then decide it |
| framers | founding fathers |
| constitution | series of compromises about power |
| bill of rights | first 10 amendments |
| supremacy clause | the constitution, and federal statutes and treaties, shall be the supreme law of the land |
| judicial review | power of federal courts to declare a statute or governmental action unconstitutional and void |
| judicial activism | courts willingness or eagerness to become involved in major cases |
| judicial restraint | an attitude that courts should leave lawmaking to legislators and nullify a law only when it unquestionably violates the constitution |
| constitutional rights | protected against governmental acts |
| commercial speech | if false or misleading, may be outlawed altogether |
| procedural due process | before the government takes liberty or property, the affected person has a fair chance to oppose the action |
| takings clause | prohibits a state from taking private property for public use without just compensation |
| eminent domain | government taking land |
| equal protection clause | governments must treat people fairly |
| tort | a violation of a duty imposed by the civil law |
| intentional torts | harm caused by a deliberate action |
| negligence and strict liability | injuries caused by neglect and oversight rather than by deliberate conduct. |
| element | a fact that a plaintiff must prove to win a lawsuit |
| opinion | a valid defense in a defamation suit because it cannot be proven true or false |
| pubic official | police chief |
| public figure | movie star |
| malice | defendant knew the statement was false or acted with reckless disregard of the truth |
| qualified privilege | exists when two people have a legitimate need to exchange information |
| false imprisonment | intentional restraint of another person without reasonable cause and without consent |
| batter | intentional touching of another person in a way that is unwanted or offensive |
| assault | defendant does some act that makes a plaintiff fear imminent battery |
| trespass | intentionally entering land that belongs to someone else or remaining on the land after being asked to leave |
| conversion | taking or using someone's personal property without consent |
| single recovery principle | requires court to settle the matter once and for all by awarding a lump sum for past and future expenses |
| punitive damages | intended to punish the defendant for conduct that is extreme and outrageous |
| fraud | injuring another person by deliberate deception |
| commercial exploitation | prohibits the use of someone's likeness or voice for commercial purposes |
| licensee | anyone on the land for her own purposes but with the owner's permission |
| invitee | someone on the property as of right because it is a public place or a business open to the public |
| factual cause | if the defendant's breach physically led to the ultimate harm |
| res ipsa loquitur | the thing speaks for itself |
| compensatory damages | amount of money that the court believes will restore him to the position he was in before the defendant's conduct cause an injury. |
| punitive damages | money intended not to compensate the plaintiff but to punish the defendant |
| contributory negligence | if the plaintiff is even slightly negligent she recovers nothing |
| comparative negligence | plaintiff may generally recover even if she is partially responsible |
| assumption of the risk | a person who voluntarily enters a situation that has an obvious danger cannot complain if she is injured |
| judicial restraint | a court taking a passive role and requiring the parties to fulfill whatever obligations the agreed to |
| judicial activism | courts ignore certain provisions of a contract, or an entire agreement |
| contract | a promise that the law will inforce |
| bilateral contract | both parties make a promise |
| unilateral contract | on party makes a promise that the other party can accept only by doing something |
| express contract | two parties explicitly state all important terms of their agreement |
| implied contract | words and conduct of the parties indicate that they intended an agreement |
| executory | when one or more parties has not fulfilled its obligations |
| executed | when all parties have fulfilled their obligations |
| valid contract | one that satisfies all of the law's requirements |
| unenforceable agreement | when parties intend to form a valid bargain but a court declares that some rule of law prevents enforcing it |
| voidable contract | when the law permits one party to terminate the agreement |
| void agreement | one that neither party can enforce |
| quantum meruit | plaintiff gets as much as he deserved |
| offer | an act or statement that proposes definite terms and permits the other party to create a contract by accepting the terms |
| offeror | person who makes offer |
| offeree | person to whome the offer is made |
| output contract | obligates the seller to sell all of his output to the buyer, who agrees to accept it |
| requirements contract | obligates a buyer to obtain all of his needed goods from the seller |
| implied warranty of merchantability | goods must be of at least average, passable quality in the trade |
| acceptance | gnerally effective on dispatch, meaning the moment it is out of the oferee's control |
| consideration | must be bargaining that leads to an exchange between the parties |
| rescind | means to cancel |
| liquidated debt | no dispute for the amount owed |
| accord and satisfaction | to settle for less than the creditor claims |
| usury laws | prohibit charging excess interest on loans |
| noncompete clause | an employment contract is generally enfoceable only if it is essential to the employer, fair to the employee, and harmless to the general public |
| exculpatory clause | on the attempts to release you from liability in the event of injury to another party |
| bailment | giving possession and control of personal property to another person |
| unconscionable contract | on that a court refuses to enforce because of fundamental unfairness |
| adhesion contracts | standard form contracts prepared by one party and given to the other on a take it or leave it basis |
| minor | someone under the age of 18 |
| unilateral mistake | one party enters a contract under a mistaken assumption |
| bilateral mistake | both parties negotiate based on the same factual error |
| parol evidence | refers to anything that was said, done, or written before the parties signed the agreement or as they signed it |
| third party beneficiary | someone who was not a party to the contract but stands to benefit from it |
| incidental beneficiary | not an intended beneficiary |
| assignment of rights | contracting party may transfre his rights under the contract |
| delegation of duties | a party transfers her duties pursuant to the contract |
| assignor | the one making an assignment |
| assignee | the one receiving the assignment |
| gratuitous assignment | one made as a gift for no consideration |
| novation | three way agreement in which the obligor transfers all rights and duties to a third party. the obligee agrees to look only to the third party for performance |
| condition | an event that mus occur before a party becomes obligated under a contract |
| commercial impracticability | some event has occurred that neither party anticipated and fulfilling the contract would now be extraordinarily difficult and unfair to one party |
| frustration on purpose | some event has occurred that neither party andicipated and the contract now has no value for one party |
| remedy | method a court uses to compensate an injured party |
| injunction | an order forcing someone to do something or refrain from doing something |
| interest | a legal right in something |
| incidental damages | relatively minor costs that the injured party suffers when responding to the breach |
| legal remedies | expectation and reliance interests |
| restitution | a common remedy in contracts involving fraud, misrepresentation, mistake, and duress |
| injunction | a court order that requires someone to do something or refrain from doing something |
| preliminary injunction | an order issued early in a lawsuit prohibiting a party from doing something during the course of the lawsuit |
| mitigate | keep damages as low as he reasonably can |
| reformation | partially re writing a contract |
| nominal damages | a token sum such as a dollar |
Created by:
amdreiling6
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