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Bus Ess - Legal
Business Essentials - Ethics & Legal Responsibility Unit
| Question | Answer |
|---|---|
| Moral principles by which people conduct themselves personally socially or professionally | Ethics |
| An action that results in unfair benefit | Conflict of Interest |
| A written or unwritten agreement to exchange goods or services for something of value | Contracts |
| 1. Agreement 2. Competent Parties 3. Consideration 4. Legality | Contract Basics |
| An offer must be made, and an acceptance must occur | Agreement |
| Showing a willingness to enter into a bargain in such a way that another person would interpret that they could accept it and it would conclude negotiations. Can be words or actions, advertisements can be offers, negotiatons are not. | Offer |
| Once an offer has been made, the other party can accept the offer in any reasonable way, including starting performance. Can back out until performance begins. | Acceptance |
| Those entering into the contract must be of legal age and must be mentally competent | Competent Parties |
| Something of measurable value must be exchanged by the parties involved. Both parties have to get something, doesn't have to be equal, can't be a gift. | Consideration |
| The contract must be for a product or service that may be legally sold; also, no fraud or deception exists in the agreement. | Legality |
| Failure to perform contract | Breach |
| One party was tricked, fraud or duress, taking advantage of someone, if a company knows of a flaw, if terms require illegal behavior | Things that Make a Contract Void |
| Plantiff is the state, guilty or non-guilty, guilty=prison, must prove guilt beyond a reasonable doubt | Criminal Law |
| Plantiff is private party, liable vs. non-liable, liability results in paying damages, plantiff only needs preponderance of evidence | Civil Law |
| An undesireable or unfortuante happening that occurs unintentionally and usually results in harm, injury, damage, or loss. | Accident |
| The failure to exercise that degree of care, in the circumstances the law requires for protection of other persons | Negligence |
| A civil wrong for which a remedy may be obtained in the form of damages | Tort |
| Torts that are caused by the negligence of the person who commits the tort. | Negligent Tort |
| Torts caused intentionally by the person. | Intentional Tort |
| Torts where the law has determined that some activities are so dangerous that an individual engaging in those activities is liable for damages regardless of intent. | Strict Liability Tort |
| 1. Duty 2. Breach 3. Causation 4. Damages | Basic Tort Elements |
| The amount of care that a person would exercise under the circumstances | Due Care |
| If it wasn't for the person's actions would the injury have occured? | Causation |
| Where the law wants to cut off liability for negligence. 1.Foresability 2.Direct Causation 3. Danger Zone | Proximate Cause |
| All injuries can be reduced to a monetary amount. | Damages |
Created by:
mryan396
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