Shared Flashcard Set

Details

Business Law- Test 1
N/A
80
Business
Undergraduate 1
09/16/2013

Additional Business Flashcards

 


 

Cards

Term
Business Law
Definition
The enforceable rules of conduct that govern the actions of buyers and sellers in market exchanges.
Term
Law
Definition
Rules of conduct in any organized society that are enforced by the governing authority of the community.
Term
Private Law
Definition
Law that involves suits between private individuals or groups.
Term
Public Law
Definition
Law that involves suits between private individuals or groups and their government.
Term
Civil Law
Definition
The body of laws that govern the rights and responsibilities either between persons or between persons and their government.
Term
Criminal Law
Definition
The body of laws that involve the rights and responsibilities an individual has with respect to the public as a whole.
Term
Constitutional Law
Definition
The general limits and powers of a government as interpreted from its written constitution.
Term
Statutory Law
Definition
The assortment of rules and regulations put forth by legislatures.
Term
Model Laws
Definition
Laws created to account for the variability of laws among states. These laws serve to standardize the otherwise different interstate laws.
Term
Case Law
Definition
The collection of legal interpretations made by judges. They are considered to be law unless otherwise revoked by a statutory law.
Term
Precedent
Definition
A tool used by judges to make rulings on cases on the basis of key similarities to previous cases.
Term
Stare Decisis
Definition
"Standing by the decision"; a principle stating that rulings made in higher courts are binding precedent for lower courts.
Term
Restatements of the Law
Definition
Summarises of common law rules in a particular area of the law. Restatements do not carry the weight of law but can be used to guide interpretations of particular cases.
Term
Administrative Law
Definition
The collection of rules and decisions made by administrative agencies to fill in particular constitutions and statues.
Term
Natural Law
Definition
A school of jurisprudence that recognizes the existence of higher law, or law that is morally superior to human laws.
Term
Legal Positivism
Definition
A school of jurisprudence which holds that because society requires authority, a legal authoritarian hierarchy should exist. When a law is made, therefore, obedience is expected because authority created it.
Term
Identification with the Vulnerable
Definition
A school of jurisprudence which holds that society should be fair. Particular attention is therefore paid to the poor, the ill, and the elderly.
Term
Historical School
Definition
A school of jurisprudence that uses traditions as the model for future laws and behavior.
Term
Legal Realism
Definition
A school of jurisprudence which holds that context must be considered as well as law. Context includes factors such as economic conditions an social conditions.
Term
Cost-Benefit Analysis
Definition
An economic school of jurisprudence in which all costs and benefits of a law are given monetary values. Laws with the highest ratios of benefits to costs are then preferable to those with lower ratios.
Term
Ethics
Definition
The study and practice of decisions about what is good or right.
Term
Business Ethics
Definition
The use of ethics and ethical principles to solve business dilemmas.
Term
Ethical Dilemma
Definition
A question about how one should behave that requires one to reflect on the advantages and disadvantages of the optional choices for various stakeholders.
Term
Social Responsibility of Business
Definition
The expectations that a community places on the actions of firms inside the community's borders.
Term
WPH Approach (To Ethical Decision Making)
Definition
A set of ethical guidelines that urges us to consider whom an action affects. The purpose of the action, and how we view its morality.
Term
Ethical Guideline
Definition
A simple tool that helps determine whether an action is moral.
Term
Values
Definition
Positive abstractions that capture our sense of what is good and desirable.
Term
Universalization Test
Definition
The ethical guidelines that urges us to consider, before we do an action, what the world would be like if everyone acted in this way.
Term
Critical Thinking in the Legal Context
Definition
Examining a legal opinion to search for potential problems in the reasoning.
Term
Trial Court
Definition
A court in which most civil or criminal cases start when they first enter the legal system. The parties present evidence and call witnesses to testify. Trial courts are referred to as courts of common pleas or county courts in state court systems and as district courts in the federal system.
Term
Appellate Court
Definition
A higher court, usually consisting of more than one judge, that reviews the decision and results of a lower court (either a trial court or a lower-level appellate court) when a losing party files for an appeal.
Term
Question of Law
Definition
An issue concerning the interpretation or application of law.
Term
Question of Fact
Definition
A question about an event or characteristic in a case.
Term
In Personam Jurisdiction
Definition
The power of a court to require that a party (usually the defendant) or a witness come before the court. The court must have personal jurisdiction to enforce its judgements or orders against a party.
Term
Plaintiff
Definition
The person or party who initiates a lawsuit (also known as an action) before a court by filing a complaint with the clerk of the court against defendants.
Term
Defendant
Definition
The person or party against whom a civil or criminal lawsuit is filed in a court of law.
Term
Complaint
Definition
A formal written document that begins a civil lawsuit; contains the plaintiff's list of allegations against the defendant, along with the damages the plaintiff seeks.
Term
Long-Arm Statute
Definition
A statute that enables a court to obtain jurisdiction again an out-of-state defendant as long as the defendant has sufficient minimum contacts within the state, such as committing a tort or doing business in the state.
Term
In Rem Jurisdiction
Definition
The power of a court over the property of status of an out-of-state defendant when that property or status is within the court's jurisdiction area.
Term
Quasi In Rem Jurisdiction
Definition
A type of jurisdiction exercised by a court over an out-of-state defendant's property that is within the jurisdictional boundaries of the court. It applies to personal suits against the defendant in which the property is not the source of the conflict but is sought as compensation by the plaintiff.
Term
Subject-Matter-Jurisdiction
Definition
The power of a court over the type of case presented to it.
Term
Venue
Definition
(1) The place where a hearing takes place. Its geographic location is determined by each state's statutes and based on where the parties live or where the event occurred or the alleged wrong was committed. (2) A legal doctrine relating to the selection of a court with subject-matter and personal jurisdiction that is the most appropriate geographic location for the resolution of the dispute.
Term
Standing
Definition
The legal right of a party or an individual to bring a lawsuit by demonstrating to the court sufficient connection to and harm from the law or action challenged (i.e., the plaintiff has to demonstrate that he or she is harmed or will be harmed).
Term
Case or Controversy
Definition
A term used in the U.S. Constitution to describe the structure and requirements of conflicting claims of individuals that can be brought before a federal court for resolution. Requires an actual dispute between parties over their legal rights that remains in conflict at the time the case is presented and that is a proper matter for judicial determination.
Term
Ripeness
Definition
The readiness of a case for a decision to be made. The goal is to prevent premature litigation for a dispute that is insufficiently developed.
Term
Service of Process
Definition
The procedure by which a court delivers a copy of the statement of claim or other legal documents, such as a summons, complaint, or subpoena, to the defendant.
Term
Default Judgement
Definition
Judgement for the plaintiff that occurs when the defendant fails to respond to the complaint.
Term
Answer
Definition
The response of the defendant to the plaintiff's complaint.
Term
Motion to Dismiss
Definition
A request by the defendant that asks a judge or a court in a civil case to dismiss the case because even if all the allegations are true, the plaintiff is not entitled to any legal relief.
Term
Motion
Definition
An application by a party to a judge or a court in a civil case requesting an order in favor of the applicant.
Term
Counterclaim
Definition
A claim made by the defendant against the plaintiff that is filed along with the defendant's answer.
Term
Reply
Definition
A response by the plaintiff to the defendant's counterclaim.
Term
Motion for Judgement on the Pleadings
Definition
In a civil case, a request made by either party, after pleadings have been entered, that asks a judge or a court to issue a judgement.
Term
Motion for Summary Judgement
Definition
In a civil case, a request made by either party that asks a judge or a court to promptly and expeditiously dispose of a case without a trial. Any evidence or information that would be admissible at trial under the rules of evidence, such as affidavits, interrogatories, depositions, and admissions, may be considered on a motion for summary judgement.
Term
Discovery
Definition
The pretrial phase in a lawsuit during which each party requests relevant documents and other evidence from the other side in an attempt to "discover" pertinent facts and avoid any surprises in the courtroom during the trial.
Term
Interrogatories
Definition
A formal set of written questions that one party to a lawsuit asks the opposing party as part of the pretrial discovery process in order to clarify matters of evidence and help determine in advance what facts will be presented at any trail in the case.
Term
Request to Produce Documents
Definition
In a lawsuit, the right of a party to examine and copy papers of the opposing party that are relevant to the case.
Term
Deposition
Definition
A pretrial sworn and recorded testimony of a witness that is acquired out of court with no judge present.
Term
Pretrial Conference
Definition
An informal meeting of the judge with the attorneys representing the parties before the actual trial begins.
Term
Voir Dire
Definition
The process of questioning potential jurors to ensure that the jury will be made up of nonbiased individuals.
Term
Peremptory Challenge
Definition
In a jury trial, the right of the plaintiff and the defendant in jury selection to reject, without stating a reason, a certain number of potential jurors who appear to have an unfavorable bias.
Term
Mock Trial
Definition
A contrived or imitation trial, with a jury recruited by a jury selection firm, that attorneys sometimes use in preparing for an actual trial to test theories, experiment with arguments, and try to predict the outcome of the real trial.
Term
Shadow Jury
Definition
An unofficial jury, provided by a jury selection firm, that sits in during the actual trial and deliberates at the end of each day to evaluate for the attorneys how each side is doing.
Term
Directed Verdict
Definition
A ruling by the judge, after the plaintiff has put forward his or her case but before any evidence is put forward by the defendant, in favor of the defendant because the plaintiff has failed to present the minimum amount of evidence necessary to establish his or her claim.
Term
Prejudicial Error
Definition
An error of law that is so significant that it affects the outcome of the case.
Term
Brief
Definition
A written legal argument, which a party presents to a court, that explains why the party to the case should prevail.
Term
Affirm
Definition
An appellate court decision that accepts a lower court's judgement in a case that has been appealed.
Term
Modify
Definition
An appellate court decision that grants an alternative remedy in a case rendered when the court finds that the decision of the lower court was correct but the remedy was not.
Term
Reverse
Definition
An appellate court decision that overturns the judgement of a lower court, concluding that the lower court was incorrect and its verdict cannot be allowed to stand.
Term
Remand
Definition
An appellate court decision that returns a case to the trial court for a new trial or for limited hearing on a specified subject matter; rendered when the court decides that an error was committed that may have affected the outcome of a case.
Term
Writ of Certiorari
Definition
A Supreme Court order, issued after the Court decides to hear an appeal, mandating that the lower court send to the Supreme Court record of the appealed case.
Term
Alternative Dispute Resolution (ADR)
Definition
The resolution of legal problems through methods other than litigation.
Term
Negotiation
Definition
A bargaining process in which disputing parties interact informally to attempt to resolve their dispute.
Term
Mediation
Definition
A type of intensive negotiation in which disputing parties select a neutral party to help facilitate communication and suggest ways for the parties to solve their dispute.
Term
Arbitration
Definition
A type of alternative dispute resolution in which disputes are submitted for resolution to private nonofficial persons selected in a manner provided by law or the agreement of the parties.
Term
Binding Arbitration Clause
Definition
A contract provision mandating that all disputes arising under the contract must be settled by arbitration.
Term
Med-Arb
Definition
A type of dispute resolution process in which both parties agree to start out in mediation and, if unsuccessful, to move on to arbitration.
Term
Summary Jury Trial
Definition
An abbreviated trial that leads to a nonbinding jury verdict.
Term
Minitrial
Definition
A type of conflict resolution in which lawyers for each side present their arguments to a neutral adviser, who then offers an opinion as to what the verdict would be if the case went to trial. The decision is not binding.
Term
Private Trial
Definition
An ADR method in which a referee is selected and paid by the disputing parties to offer a legally binding judgement in a dispute.
Supporting users have an ad free experience!