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Business Law

TermDefinition
1. Common Law originated in ENGLAND
ENGLAND 2. The laws of the US are virtually all based on COMMON LAW
3. The Heart of the golden rule is EMPATHY
4. Laws are Rules of conduct established by government to maintain stability
5. Decisions made by the highest court of any state follow the law of PRECEDENT
6. The power and authority given to a court to hear a case and to make a judgement JURISDICTION
7. What is the highest court in the land? SUPREME COURT
9. A contract that comes about from the actions of the parties is known as a/an IMPLIED CONTRACT
10.The jurisdiction of local courts is LIMITED
11.One person’s interference with another person’s rights, either through intent, negligence, or strict liability is defined as a/an TORT
12.Anything that interferes with the enjoyment of life or property NUISANCE
13.The interference with property of another is TRESPASS
14.A wrongful act of injuring another’s reputation by making false state DEFAMATION
15.A false statement made orally to a third party is SLANDER
16.People who are engaged in extremely dangerous activities may be held liable even without negligence or malice;this is known as the doctrine of STRICT LIABILITY
17.The negligence defense that might be used by a baseball organization that is sued by a spectator is ASSUMPTION OF RISK
18.In Criminal proceeding, the government is referred to as the PLAINTIFF
19.Two classifications of a crime according to the degree of their seriousness are FELONY AND MISDEMEANOR
20.A crime is defined by two elements (1) the criminal act and (2) the REQUIRED STATE OF MIND
21.If a law enforcement officer induces a law-abiding citizen to commit a crime, the accused may claim ENTRAPMENT
22.Threatening a person at gunpoint is a type of ASSAULT
23.The wrongful taking of another’s property by a person who has been entrusted with that property is EMBEZZLEMENT
24.A contract that is stated in words and my be either oral or written is known as a/an EXPRESS CONTRACT
25.A valid offer is met with a valid acceptance, the result is GENUINE AGREEMENT
26.To be effective, an offer must be communicated to the OFFEREE
27.A contract that contains a promise by both parties is BILATERAL
28.A contract that amounts to nothing and has no legal effect is VOID
29.The taking back of an offer by the offeror is REVOCATION
30.Which of the following is NOT a requirement of an offer? IT MUST BE IN WRITING
8. Which of the following is NOT a requirement of an offer? IT MUST BE IN WRITING
Created by: SavRose
 

 



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