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LAW EXAM 1
BUS LAW
24
Law
Undergraduate 4
02/10/2015

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Term
TORT
Definition
CIVIL WRONG
Term
INTENTIONAL TORT
Definition
ASSAULT, BATTERY, DEFAMATION, FALSE IMPRISONMENT, INVASION OF PRIVACY
Term
NEGLEGENCE
Definition
STANDARD OF CARE IS PRESENT. DUTY. BREACH. DAMAGES.
Term
CONTRACT
Definition
LEGALLY ENFORCABLE AGREEMENT
Term
CONTRACT COMPONENTS
Definition
1. OFFER
2. ACCEPTANCE
3. CONSIDERATION
Term
TYPES OF AGENTS
Definition
EMPLOYEE
INDEPENDENT CONTRACTOR
Term
TRAITS OF AN EMPLOYEE
Definition
1. WC
2. ABILITY TO SUE
3. UC
4. W/H
5. SS MC
6. LIABILITY
Term
WORKERS COMP
Definition
1. CLAIM W/ A DIV OF WC IN DOL
2. OFFIC OF HEARINGS
3. DISCTRICT COURT
4. WYO SC
Term
EEE VS IC
Definition
1. CONTROL OF THE DETAILS
2. SAME/DIFFERENT OCCUPATION
3. SUPERVISION
4. TOOLS
5. LENGTH OF TIME
6. PAYMENT
7. SKILL
Term
WAYS TO FORM AN AGENCY
Definition
1. AGREEMENT
2. RATIFICATION (WANT A DEAL OFFERED)
3. ESTOPPEL
4. OPERATION OF LAW (SPOUSE, KIDS)
Term
ESTOPPEL
Definition
1. MISREPRESENTATION
2. RELIANCE
3. INJUSTICE
Term
FIDUCIARY
Definition
A PERSON CONDUCTING THE BUSINESS AFFAIRS OF ANOTHER
Term
STANDARD OF A FIDUCIARY
Definition
AN EXPERIENCED AND PRUDENT BUSINESS PERSON
Term
DUTIES OF AN AGENT
Definition
1. LOYALTY
2. NOTIFICATION
3. OBEDIENCE
4. PERFORMANCE
5. ACCOUNTING
Term
PRINCIPAL OWES AN AGENT
Definition
1. COMPENSATION
2. REIMBURSEMENT
3. INDEMNIFICATION
4. COOPERATION
5. SAFE WORKING CONDITIONS
Term
RIGHTS AN AGENT HAS AGAINST A PRINCIPAL
Definition
1. TORT/CONTRACT REMIDIES
2. RIGHT TO DEMAND ACCOUNTING
3. NO SPECIFIC PERFORMANCE
Term
RIGHTS A PRINCIPAL HAS AGAINST AN AGENT
Definition
1. CONSTRUCTIVE TRUST
2. AVOIDANCE
3. INDEMNIFICATION
Term
AUTHORITY
Definition
1. EXPRESS-ACTUAL
2. IMPLIED
3. ESTOPPEL - APPARANT
4. RATIFICATION - AVOIDANCE
Term
KINDS OF PRINCIPALS UNDER AUTHORIZED ACTS
Definition
1. DISCLOSED
2. PARTIALLY DISCLOSED
3. UNDISCLOSED
Term
VICARIOUS LIABILITY
Definition
PRINCIPAL IS LIABLE FOR AGENT ONLY IF AGENT IS AN EMPLOYEE
Term
RESPONDEAT SUPERIOR
Definition
THE BOSS IS RESPONSIBLE
Term
FROLIC AND DETOUR
Definition
TORT IS WITHIN SCOPE BUT NOT COURSE OF THE JOB--CANNOT SUE OR RECIEVE WC
Term
TERMINATION OF AGENCY BY PARTIES
Definition
1. LAPSE OF TIME
2. PURPOSE IS ACCOMPLISHED
3. OCCURANCE OF A SPECIFIC EVENT
4. MUTUAL AGREEMENT
5. TERMINATION BY ONE PARTY
Term
TERMINATION OF AGENCY BY LAW
Definition
1. DEATH/INSANITY
2. IMPOSSIBILITY (DESTRUCTION OF PURPOSE)
3. CHANGE OF CIRCUMSTANCES
4. BANKRUPTCY
5. WAR BETWEEN TWO COUNTRIES
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