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Business Law Chapter 2
N/A
19
Business
Undergraduate 3
02/16/2013

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Term
"to speak the law"
Definition
what "jurisdiction" means
Term
1. the defendant or the property involved
2. the subject matter
Definition
2 things a court must have to have jurisdiction
Term
"in rem"
Definition
A court has _____ jurisdiction over property within its area
Term
1. federal questions
2. diversity of citizenship (and $75,000 +)
Definition
2 things that qualify a case for federal jurisdiction
Term
standing
Definition
the interest that a plaintiff has in a case
Term
trial courts
Definition
courts in which trials are held and testimony is taken
Term
appellate courts
Definition
courts that hear appeals from trial courts
Term
U.S. District Courts
Definition
the federal equivalent of a state trial court of general jurisdiction
Term
U.S. Courts of Appeals
Definition
hear appeals from the district courts
Term
U.S. Supreme Court
Definition
the highest level of the federal court system
Term
Alternate Dispute Resolution (ADR)
Definition
any procedure or device for resolving disputes outside of the traditional judicial process
Term
negotiation, mediation, arbitration, summary jury trials
Definition
primary types of ADR
Term
negotiation
Definition
the parties come together informally with or without attorneys and attempt to settle or resolve issues without using any third parties
Term
mediation
Definition
the parties themselves attempt to negotiate an agreement but with the assistance of a mediator
Term
arbitration
Definition
the settling of a dispute by an impartial third party
Term
submission, hearing, award
Definition
the arbitration process
Term
summary jury trial
Definition
mock trial that occurs in a courtroom before a judge and jury
Term
forum-selection/choice of law clauses
Definition
designate the jurisdiction in which a dispute arising under the contract will be litigated and that jurisdiction's law will be applied
Term
one is not necessarily better, federal has a better jury pool though
Definition
which is better? federal or state court
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