Business Law Chapter 2

Front 1

Alternative dispute resolution

Back 1

general name applied to the many nonjudicial means of settling private disputes

Front 2

Mediation

Back 2

a form of dispute resolution in which the disputing parties resolve their dispute with the help of a third party

Front 3

Arbitration

Back 3

alternative to settling disputes in court. Fast/cheap, no appeal

Front 4

Minitrial

Back 4

form of dispute resolution in which the disputants voluntarily hear a shortened verison of their cases presented by their lawyers

Front 5

Private judging

Back 5

hired judge renders a binding opinion after hearing the proofs and arguments of the parties

Front 6

Moot

Back 6

when events occurring after the foling of the lawsuit have made a decision beside the point

Front 7

Jurisdiction

Back 7

authority of a court to hear and determine disputes

Front 8

Personal jurisdiction

Back 8

does not exist unless the defendant has some close connection with the territory where the suit is brought

Front 9

Venue

Back 9

where within a jurisdiction a suit must be heard, rules are established by the states

Front 10

Conflict of laws

Back 10

rules for a court to follow in deciding which states law to apply

Front 11

Adversary systerm

Back 11

idea that truth is best discovered through the presentation of competing ideas

Front 12

Complaint

Back 12

legal process that usualy consists of formal allegation or charge against a party, made or presented to the appropriate court or officer

Front 13

Pleadings

Back 13

the complaint, answer, and reply, each of which is discussed below

Front 14

Summons

Back 14

a writ or process issued and served on a defendant in a civil action for the purpose of securing his appearance in the action

Front 15

Answer

Back 15

the pleading of a defendant in which he or she may deny any or all the facts set out in the plaintiffs declaration or complaint

Front 16

Allegation

Back 16

a declaration, a formal averment or statement of a party to an action in a declaration or pleading of what the party intends to prove

Front 17

Discovery

Back 17

parties gather the evidence they wil use at trial ro prove or disprove the allegations made in the pleadings, exchange of info between parties

Front 18

Reply

Back 18

answers paragraph by paragraph the affirmative denfense or counterclaim of the defendant

Front 19

Pretrial conference

Back 19

procedural device that is designed to narrow issues to be proved at trial or to facilitate a settlement

Front 20

Burden of proof

Back 20

the last word

Front 21

Hung jury

Back 21

jury cant come to a verdict, decision made by plaintiff whether to bring the case to trial again

Front 22

Material

Back 22

a fact is material if a reasonable person would consider it important in his decision to purchase shares or to vote shares