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339 Cards in this Set

  • Front
  • Back
What is a statute
an approved bill
What is an ordinance
local level law
A trial is based on _________
testimony
US law is based on precedent, also called _____ _______
stare decisis
What is dranshop liability?
if you serve a visibly intoxicated person, you are liable
The name of the case is called the _______
caption
Who is the appellant?
The party who is appealing the decision
Who is the appellee?
the person who won at the lower level and is being appealed against
Whose name usually appears first in a citation?
The plaintiff
What does a citation tell you and what are its parts?
A citation tells you where a case can be found.
Volume, Book (by geographic region), # of book, page number
What is an opinion?
The unanimous decision of the court.
When a judge concurs the decision, what does this mean?
He agrees with the verdict, but for different reason
What is a case of first impression?
When an issue is brought about in court for the first time
A primary source is written by the ___
law itself
Law reviews and Legal Encyclopedias are considered _________ _______
Secondary Sources
Explain Public Law
Law that involves the rights of society which are represented by the government
What are the three categories of public law?
Criminal, Constitutional, and Administrative
What are the four public classifications of crime?
Treason, Misdemeanors, Felony's, and summary offenses
What is a felony?
A crime punishable by more than a year in jail
What is a misdemeanor?
A crime punishable by less than a year in jail
When one is convicted of a summary offense, what is their punishment?
A fine
What does Actus Reus mean?
You must prove the defendant committed the crime
What does Mens Rea mean?
Criminal Intent
How is the caption named in public law cases?
Society vs. Defendant
How many articles and amendments in the constitution?
7 Articles, 27 amendments
What do the first three articles of the constitution accomplish?
Creates doctrine of "separation of the powers"
What is the 27th amendment?
Congress cannot give itself a pay raise
What are the four types of private law?
Contracts, torts, property, and family
What are the five elements of a contract
Offer
Acceptance
Consideration
Capacity
Legality
What is a tort?
A private civil wrong
What are the three kinds of torts?
Negligence, Intentional, Products Liability
What is negligence?
Failure to do what a reasonable person would do under the circumstances
What are the four elements of negligence?
Duty
Breach of Duty
Proximate Cause
Damages
What are the five elements of an intentional tort?
Assault
Battery
Defamation
Invasion of Privacy
False Imprisonment
What is the difference between real property and personal property?
Real property is everything attached to the land, Personal property is everything not attached to the land
What is family law?
Encompasses the rights, duties, and obligations involving marriages, civil unions, domestic partnership, child support, etc
What is alimony?
The award of money to support a former spouse
What is a prenuptial agreement?
A contract parties enter into before marriage on how the assets will be distributed upon divorce
What is palimony?
when parties live together, they agree to share assets and determine how they will be distributed
What is a contract?
Enforcement of promises voluntarily made
What are the five elements of contracts
Offer
Acceptance
Consideration
Capacity
Legality
What must the contract offer cite?
Subject Matter
Quantity
Price
An advertisement at a stated price is merely an invitation to do what?
Negotiate
Define an acceptance of a contract
An acceptance is a manifestation by the offeree to be bound by the terms of the offer
A dissenting opinion is written when?
A judge disagrees with the result reached by the majority
What is status and process?
A concept in which one can determine who might be the winner of a particular case based on the groups of people the law favors
What is an administrative agency?
A governmental body charged with administering and implementing particular legislation
Administrative agencies are created through congressional action called _________ ____
Enabling Acts
What is the federal register?
A Daily publication where administrative agencies' regulations are promulgated
What is a unilateral contract?
When one party makes a promise in exchange for an act
What is a bilateral contract?
When the parties exchange mutual promises to do some future act
What is a tort
Private civil wrong committed against another for which the law provides an award of money damages
What are 3 types of civil wrongs in a business setting
Unintentional, Intentional, Strict Liability
What is Strict Liability?
The responsibility imposed upon a business regardless of the care exercised or the precautions taken to prevent the harm

This liability may arise from owning a dangerous animal or by selling a defective product
What do Recoverable Damages include?
Recoverable damages include lost wages, medical expenses, harm to property, and pain and suffering
What is negligence?
Failure to do what a reasonable person would do under the circumstances
What are four elements of negligence?
A duty must be owed
There must be a breach of duty
The negligence must be the proximate cause of the harm
The aggrieved party must sustain damages
The ______ has the burden of proving all four elements of negligence by the preponderance of evidence
Plaintiff
What is a duty of care
Establishes the type of behavior a person must exhibit in a given situation
In cases of negligence, what standard of care does a person hold?
A person must conform to the standard of care of a “reasonable person under the circumstances”
True/False: Generally, the law does make a distinction concerning the standard of care between adults of different ages
False
Negligence of a professional is known as __________
malpractice
What standard of care is a minor held to?
A minor is held to the standard of care of a child of similar age, intelligence, and experience
What is the Good Samaritan Status
In the event of an emergency situation, this status encourages professionals to offer assistance when needed and only imposes liability in the event of gross misconduct
What is a trespasser
One who comes upon the premises of another without consent and with no legal right to be on the property
What duty of care does one owe a trespasser?
The only duty owed to a trespasser is to avoid injuring them through willful and wanton misconduct
What is the attractive nuisance doctrine
created to safeguard children who trespass on the land of another that contains an inviting but dangerous condition
What is a licensee?
A person who comes on the property of another with the owner consent or with the legal right to be on the land
What is the most common type of licensee?
Social Guest
What is the duty of care for a licensee?
The owner of the property is responsible for defects that were known of, or should have been known of, and the guest would not have known of.
What is the duty of care for a business visitor?
The owner of the property is responsible for defects that were known of, or should have been known of, and the guest would not have known of. There is also a duty for the owner to inspect his or her property for defects
What is proximate cause?
requires that there be a reasonable connection between the negligence of the defendant and the harm suffered by the plaintiff
What is the legal definition of damages?
The amount of money awarded to an injured person as the result of the wrongful or improper conduct of the defendant
What are Compensatory Damages?
the purpose of compensatory damages is to make an injured party whole by providing a sum of money that will return the aggrieved party to a position as though nothing ever happened
What are Punitive Damages?
May be claimed if the conduct of the wrongdoer is outrageous. The law will punish the party by awarding an additional sum of money to prevent the conduct from ever occurring again
What is contributory negligence? Which States follow this rule?
the failure of the plaintiff to act as a reasonable person under the circumstances.

North Carolina, Virginia, Alabama, Maryland, and the District of Columbia follow this rule
What is comparative negligence?
As long as the plaintiff’s negligence is not greater than that of the defendant, the plaintiff may recover damages
What is imputed negligence?
because of a special relationship that exists between the parties, one person can be held liable for the negligence of another.
What is an independent contractor?
One who undertakes to preform the act requested on his own and is not subject to the control of an employer
What are considered intentional torts?
Theories of Liability include actions for a battery, assault, invasion of privacy, defamation, infliction of emotional distress, and false imprisonment
What is emotional distress?
A person who by extreme and outrageous conduct intentionally or recklessly causes severe emotional distress to another is liable to that person for any bodily harm that may result from the emotional distress.
What is Battery?
The intentional touching of the body of another or an object closely associated with the body in an offensive or harmful manner
What is an Assault?
An act intended to put another in fear of an immediate battery
What is considered to be invasion of privacy?
An unwarranted intrusion of a person’s right to be left alone
Truth is not a defense to invasion of privacy
What is Defamation?
A statement is defamatory if it is false and tends to harm the reputation of another or to lower him in the estimation of the community.
What are the two categories of defamation?
Libel and Slander
What is Libel?
The publication of defamatory matter by written or printed words
What is Slander?
Defamatory communication that is verbal or oral in nature
In order for the defamatory comment to be actionable, it must be conveyed to a third person, known as publication
What is False Imprisonment?
The unlawful detention of a person against his or her will in a specific area
What are the five elements of contract interference
An enforceable contract
The defendant’s awareness of that contractual relationship
The defendant’s intentional inducement to breach the contract
A wrongful interference by the defendant to breach the agreement
Actual damages
What is products liability?
Defective products include those things that contain a manufacturing defect, lack of a proper warning, or a defect in the product’s design making it unsafe to a user or consumer
What is the official definition of a crime
an offense against society as determined by the legislature or considered a public wrong that carries the punishment of imprisonment or some other public sanction
What is a white collar crime?
illegal actions perpetrated in a business setting
What is Burglary?
Entering a building or occupied structure with the intent to commit a crime unless the premises is open to the public
What is criminal trespassing?
When a person enters the land of another without permission or no legal right to be there
What is larceny?
the taking and carrying away of property that belongs to another without the owner’s consent and with the intention of depriving the owner of the goods permanently
What is embezzlement?
The act by which someone takes ownership of property that has been entrusted to him with the fraudulent to deprive the owner of the property
What is Robbery?
Larceny by force or the threat of force
What is the crime of receiving stolen property?
When one intentionally obtains or disposes of property of another knowing that it has been stolen or believing that it has probably been stolen
What is electronic fencing?
When one uses the internet to sell property gained through unlawful means
What is conspiracy?
An all encompassing crime that allows the government to file charges against anyone who has participated in the planning or committing of a crime and to hold each liable for the actions of the other
What is bribery?
The act of offering something of value to another with the intent of influencing that person’s opinion or to have something done in return by that entity
What is Money Laundering?
Using a business to hide the transaction of illegal funds
What is Insider Trading?
Using information not available to the public to make financial decisions about stocks
What are the two theories of insider trading?
Classical Theory - Imposes liability on corporate insiders who trade on the basis of confidential information obtained by reason of their position within the business
Misappropriation Theory - Imposes liability on outsiders who trade based on the confidential information obtained by reason of their relationship with the person possessing the information
What is chapter 7 bankruptcy?
extinguishes or liquidates all debts
What is chapter 11 bankruptcy?
adjusts debts either by reducing them or extending the period of payback
What is chapter 13 bankruptcy?
Allows reorganization of plans to repay debt
What is a Respondeat Superior?
doctrine allowing criminal liability of a business
What does the Fourth Amendment say?
The Fourth Amendment prohibits unlawful search and seizure and that all warrants must be issued upon probable cause
How are warrants issued?
Police officers must present evidence before a judge to be granted probable cause for a warrant
What are the exceptions to needing a warrant
Plain View
Emergency
Search Incident to an Arrest
Hot Pursuit
Consent
Search Incident to a General Police Measure
Stop and Frisk
What is the obligation of a crime victim and or a witness?
When either the victim or witness files a criminal complaint with the police
Explain the preliminary hearing?
Held before the District Justice
To determine whether or not there is probable cause that the defendant committed the crimes charged against them
This hearing does not determine guilt
Explain the Arraignment?
Takes place in the Court of Common Pleas
The District Attorney draws up an information
a formal list of charges against the defendant
This is to insure the defendant knows the charges against them and to determine if the defendant has a lawyer
The defendant does not have to be present for the Arraignment
The trial is __ days after the Arraignment
30
The trial consists of the following events:?
Opening statement
Case in chief - The prosecutor’s attempt at establishing the defendant's guilt
Defense
Each side is permitted to make a closing speech
The judge charges the jury to make a decision
Verdict
In federal court, the ___________________ is utilized to determine that probable cause exists
Grand Jury Indictment
The grand jury consists of __ people and a majority vote is required to indict.
23
What is an infamous crime?
A crime that is punishable by imprisonment for more than 1 year
What does the 8th amendment guarantee?
The 8th amendment protects cruel and unusual punisment
The creation of statutory law is the primary function of the legislature, what is statutory law?
Designed to address specific problems in our society and to set forth rules and to regulate areas of concern
What is Common Law?
Common law is the empowerment of the judiciary to interpret the laws and establish standards of care
What are opinions?
(1) Judicial pronouncements that are rendered in the form of written explanations so that the parties to the litigation can understand the court’s reasoning
When the case is appealed to a higher court, the person who appeals the decision is the ________
Appellant
the person against whom an appeal is filed is the _________
Appellee
What is the Majority Opinion?
(a) A decision reached by more than half of the judges on a committee
What is a dissenting opinion?
(a) An opinion written by a judge who disagrees with the opinion - has no value
What is a concurring opinion?
(a) when the jurist agrees with the opinion but has a different logic in doing so
What are the four main parts of a case?
(a) The Action
(b) The Facts
(c) The Issue
(d) The Opinion of the Court
When a decision is _________, the appellate court determines the lower court made the correct decision
Affirmed
A case may be ________ when the appellate court finds that there was an error in the decision making or more evidence is needed
remanded
What is Binding Authority?
Binding authority is finding a ruling exactly on point within the same jurisdiction
What is Persuasive Authority?
Persuasive authority is using rulings from other jurisdictions
What are Form Books?
Outline the necessary format for legal documents
What is a treatise?
A treatise is dedicated to a single topic or area of law and describes the law in basic succinct paragraphs, often referred to as “Black Letter Law”
What is a Restatement?
Considered a form of a treatise

Explains the law in relatively simple paragraphs which cite to a wide variety of cases on the issue
What are digests?
Digests are compilations that list the primary sources of case law by topic
Explain Case Law
Written decisions issued by judges
Cases are collected in large volumes of books known as reporters
What are Statutes?
Statutes, also referred to as Codes, are statements of the law passed by the legislative body of a given jurisdiction
Statutes trump case law unless deemed _______________
unconstitutional
What is the Burden of Proof?
The burden of proof is the obligation resting on a party in a trial to produce the evidence that will shift the conclusion away from the default position to one's own position.
What is Common Law Marriage?
A marriage in which the parties have the capacity to marry, agree to be married, and hold themselves out to the world as being married. This concept is no longer recognized in Pennsylvania
What is a concurring opinion?
An opinion written by a judge who agrees with the outcome of the case but wants to note a difference in logic for reaching the decision
What is a court clerk?
A court clerk keeps track of the exhibits, administers the oath to all who testify, and oversees the jury
What is a dissenting opinion?
A judge writes a dissent when he or she disagrees with the result reached by the majority; the dissent has no value as precedent
What is a judicial decree?
A judicial command, order, or precept, written or oral, from a court; a direction that a court has the authority to give and an individual is bound to obey.
What is legislative enactment?
the act of making or enacting laws
What is a social host?
One who furnishes alcoholic beverages to a guest
What is Voyeurism?
A person commits the crime of voyeurism if, for the purpose of arousing or gratifying the sexual desire of any person, he or she knowingly views, photographs or films the intimate areas of another person without their consent and knowledge and under circumstances where the person has a reasonable expectation of privacy, whether in a public or private place
What is Public Law?
Public Law involves the rights of society, and those rights are usually represented by a governmental agency
Example of public law is a crime of ______
murder
What is Private Law?
Private law involves matters between individuals
What are examples of Private Law?
Examples: leasing of an apartment, medical malpractice, purchasing a new car
What are the major classifications of private law?
Major classifications: contract law, tort law, property law, and family law
What is a crime?
A crime is a violation of those duties that an individual owes to his or her community and the breach of which requires the offender to make satisfaction to the public
Who is violated by a crime?
A crime is a violation of the rights of society and not the individual victim of the crime
A ________ _________ can force a victim to testify against the accused if there is a compelling societal interest
District Attorney
Criminal laws are established by the legislature and are broken down into different categories based upon one thing - What is it?
Criminal laws are established by the legislature and are broken down into different categories based upon one thing - the penalty for the offense
How is treson defined?
Treason against the United States shall consist only in levying war against them or in adhering to their enemies, giving them aid or comfort
What is needed to convict someone of treason?
Can only be convicted if two witnesses testify or if the defendant confesses openly
What is the burden of proof for a crime?
The government has the burden of proving a defendant guilty beyond a reasonable doubt
Which elements are necessary for criminal prosecution?
Both Actus Reus and Mens Rea are necessary for criminal prosecution
What is constitutional relativity? How did this come about?
The Constitution is purposely written in broad and often vague terms so that it can adapt to changing times

This power was given to the judiciary in the decision of Marbury v. Madison
Article _ empowers the legislature to make the laws which the executive branch enforces pursuant to the authority to the President in Article _. Article _ designates the judiciary as that branch of government that interprets the Constitution
I, II, III
What is article IV of the Constitution?
Each state will enforce and recognize the laws, legal records, and results of lawsuits from every other state. No state shall discriminate against citizens from another state
What is article V of the Constitution
Congress may propose Amendments to the Constitution based upon a two-thirds vote of both Houses of Congress or two-thirds of the states can call a convention to propose Amendments. Three-fourths of the states must ratify the proposed change before it may become an Amendment to the Constitution
What is article VI of the constitution?
This Constitution, and the laws and treaties made under it, are the supreme laws of the land
What is article VII of the constitution?
The Constitution became effective on September 17, 1787
What is the first amendment?
Citizens have the right to freedom of speech, press, and to assemble peaceably
What is the second amendment?
Citizens have the right to bear arms
What is the third amendment?
Citizens cannot be required to house soldiers in their homes during peace time
What is the fourth amendment?
Citizens are protected against unreasonable searches and seizures of both their person and their property
What is the fifth amendment?
No person can be tried twice for the same crime or be forced to testify against himself. A person’s life, liberty, or property cannot be taken away by the government without going through the proper and fair legal procedures
What is the sixth amendment?
A defendant in a criminal trial is entitled to legal representation and must be provided with a speedy and public trial by an impartial jury
What is the seventh amendment?
Citizens are entitled to jury trials in civil cases involving more than twenty dollars
What is the eighth amendment?
A court cannot impose cruel and unusual punishment or excessive bail on defendants
What is the ninth amendment?
Rights that are not specifically mentioned within the Constitution are held by citizens
What is the tenth amendment?
Rights that are not delegated to the federal government are reserved for the states and the citizens
What is the eleventh amendment?
Citizens are not permitted to sue states where they are not residents
What is the twelfth amendment?
The Electoral College will select the President and Vice President
What is the thirteenth amendment?
Slavery and involuntary servitude is abolished
What is the fourteenth amendment?
No state can make or enforce any laws which will take away the privileges and immunities of citizens; nor deprive any person of live, liberty, or property, without due process of law; nor deny any person within its borders the equal protection of its laws
What is the fifteenth amendment?
Citizens of all races and colors have the right to vote
What is the sixteenth amendment
Congress may tax income
What is the seventeenth amendment?
When a senator is required to leave office before his or her term in congress expires, the governor of the Senator’s state can appoint another to fill the position until the citizens of the state elect a new Senator
What is the eighteenth amendment
The manufacture, sale, or transportation of intoxicating liquors is prohibited. [REPEALED]
What is the nineteenth amendment?
Both male and female citizens have the right to vote
What is the twentieth amendment?
The President and Vice-President begin their terms on January 20; Senators and Representatives January 3. If the President-Elect died before being sworn in, the Vice-President-Elect becomes President
What is the twenty-first amendment?
The Eighteenth Amendment enforcing prohibition of intoxicating liquors is repealed
What is the twenty-second amendment?
The President may not be elected more than twice
What is the twenty-third amendment?
The District of Columbia is entitled to representation at the Electoral College
What is the twenty-fourth amendment?
Citizens cannot be charged a fee in order to vote
What is the twenty-fifth amendment?
When the President cannot perform his official duties, the Vice President will assume the duties of the President. The President can be impeached upon a two-thirds vote of Congress
What is the twenty-sixth amendment?
Citizens who are eighteen years of age and older have the right to vote
What is the twenty-seventh amendment?
Members of Congress cannot raise their pay while in office. Any law that provides for a pay raise for Congress cannot take effect until after the election, which follows the vote, granting the raise.
What is an administrative agency?
An administrative agency is a governmental body charged with administering and implementing particular legislation
What is adjudication?
Making a formal judgment or decision about a problem or disputed matter
Review and overturning of an agency’s adverse determination is very _______
limited
Explain the offer of the contract
A proposal by one party (offeror) to the other (offeree) manifesting a willingness to enter into a valid contract
What is the consideration of a contract?
Refers to what each party gives up in return for the actor promise of the other
Explain having the capacity to enter the contract?
Ensuring full understanding of the contract and the ability to understand fully is present
The purpose and subject matter of the contract must be _____l
legal
When can a mistaken contract be void?
A mistaken contract caused by both parties is voidable
A mistaken contract caused by one party is voidable when
the effect of the contract is such that the enforcement of the contract would be unconscionable. Or, the other party had reason to know of the mistake or his fault caused the mistake
The grounds for a justifiable mistake include:
When the risk of the contract is granted to one person
When one has limited knowledge that seems sufficient but turns out not to be
What is property law?
Property law deals with the rights and duties that arise out of the ownership or possession of real property and personal property
What is real property?
Real Property includes land and everything attached to that land
What is personal property
Personal Property consists of all other property and would include a book, a car, money, or even a folding chair
What is the difference between tangible and intangible property?
Tangible property is a physical object
Intangible property is not a physical object
Usually evidenced by a legal document
Explain a fixture
A fixture is an item of personal property which, by reason of its being attached to a building, becomes part of the real estate
What is family law and who is it regulated by?
Family Law encompasses the rights, duties, and obligations involving marriages, civil unions, domestic partnerships, divorce, custody, child support, paternity, and other family related issues. Regulated by the state
What is marriage?
Marriage is a contract between a man and a woman whereby they take each other to be husband and wife for life
Legal dissolution of a marriage is called a _______
divorce
An _________ occurs when there is a legal impediment to a marriage so that the union is declared null and void from its inception
Annulment
What is Alimony?
Alimony refers to the legal obligations of an individual to provide periodic payments for the support and maintenance of the spouse or former spouse
What is Child Support?
Child Support is that sum of money awarded to the custodial parent or caregiver for the support of a minor child
What are Prenuptial Agreements?
A contract entered into before the marriage or civil union that spells financial responsibility if the union fails
What is Palimony?
Support and division of property given to a non-married partner based upon a contract entered into by the parties before they separate
True/false: It is possible to violate both private and public law
True
What is a Contract
A contract is the voluntary exchange of promises between two or more entities creating a legal obligation in court
What is the Uniform Commercial Code?
A uniform act that regulates the sale of goods and certain other commercial transactions
What is a Unilateral Contract?
When one party makes a promise in exchange for an act, a unilateral contract is formed
What is a Bilateral Contract?
A bilateral contract is created when the parties exchange mutual promises to do some future act
What is an Express Contract?
An Express contract is one in which the parties spell out the specifics of their agreement in direct terms
What is an Implied Contract?
A contract is implied-in-fact when the promises are inferred by the conduct of the parties in view of the surrounding circumstances
What are Implied-in-law contracts
made to prevent unjust treatment
Example: A patient who must pay for their emergency room treatment
A _____ contract satisfies all of the requirements of a binding and enforceable contract
Valid
A contract is ________ if one of the legal parties has the legal right to withdraw from the arrangement without liability
Voidable
A contract is _____________ when it satisfies the technical requirements of a valid contract but will not be enforced by the court
Unenforceable
What is an offer
An offer is a proposal by one party (offeror) to the other (offeree) manifesting a willingness to enter into a valid contract
What are the three requirements of an offer
Three requirements of an offer
A definite proposal
Made with the intent to contract
An advertisement is merely an invitation to discuss
Communicated to the party for whom the offer is intended
An offer may be revoked __ ___ ____ before acceptance
At Any time
An __________ is the unconditional promise by a party to be bound by the terms of the offer
Acceptance
A change in the proposal by the offeree ___________ _ _________ of the offer and becomes a counter-offer
Constitutes a Rejection
What is the postal reorganization act?
Statute making it illegal to send unsolicited products to customers in the mail
What are auctions with reserve?
Auctions where The auctioneer may reject the highest bid and remove the item from sale
What are auctions without reserve?
Auctions where The item must be sold to the highest bidder, regardless of the bid
What is an Illusory Promise?
A promise in which the act of performance is left solely to the discretion of one party
What is a Moral Obligation?
Doing something out of “love and affection”
What is past consideration?
Paying someone for something they did in the past
What is surety?
Someone who is primarily liable for the debt as though he or she borrowed the money
What is a guarantor?
Someone who is secondarily liable for the debt, after the debtor has defaulted
When one of the individuals in the contract does not have the ________ to fully understand the ramifications of the contractual obligation, mutual assent to bargain is lacking.
capacity
What is the Statute of Frauds
A statute ruling that certain types of contracts must be in writing
Generally pertains to the following agreements
Contracts that cannot be performed within one year
Contracts involving the sale or lease of real estate
Contracts to be liable for the debts of another
Contracts for the sale of goods over $500
What did The Electronic Signature in Global and National Commerce Act do?
Legalized the electronic signature
What is a consumer?
A consumer refers to an individual who enters into a transaction primarily for personal, family, or household purposes
What is a good?
A good means all things that are movable at the time of identification to a contract for sale.
What is a seller?
A seller means a person that sells or contracts to sell goods
What is a sale
A sale consists in the passing of title from the seller to the buyer for a price
What is a merchant?
A merchant is a person that deals in goods of that kind or otherwise holds itself out by occupation as having knowledge or skill peculiar to the practices or goods involved in the transaction
What is a buyer?
A buyer buys goods in good faith
What is a bill of lading?
A bill of lading refers to a document evidencing the receipt of goods for shipment issued by an entity engaged in the business of transporting or forwarding goods
What is Entrustment?
Any entrustment of the possession of goods to a merchant who deals in goods of that kind gives the entity the power to transfer all rights of the entruster to a buyer in the ordinary course of business
What is a Shipment Contract?
The risk of loss will pass to the buyer when confirming goods are delivered to the carrier
What is the Destination Contract?
The risk of loss will pass to the buyer when confirming goods are delivered to the destination
What is a Bailee?
A third party who holds the buyer’s goods
The liability of the goods transfers to the _____ upon delivery to a bailee
buyer
True/False: Merchants can revoke their offer to buy or sell goods
False
Businesses act through their ______ whether it is an employee or third party
agents
What is an example of an expressed and an implied agent?
Expressed: Lawyer
Implied: Sales Clerk
What is Expressed Authority?
An agent’s power is transcribed publicly
What is Apparent Authority?
A master’s conduct would lead a reasonable person to believe that the agent is acting on behalf of the master
Which business type is the most common and simple, while being the least expensive to form?
The Sole Proprietorship is the least expensive, most simple, and common business to form
Which Business Organization has the greatest risk
Sole Proprietorship has the greatest risk
Which Business Organization has the greatest risk?
Sole Proprietorship
How can liability be reduced in a sole proprietorship
Liability can be reduced by combining ownership with a spouse
When does a sole proprietorship terminate?
The business terminates whenever the owner stops doing business
What is a partnership
A partnership is an association of two or more entities to carry on a business as co-owners
What are the three elements of a partnership
Three elements of a partnership
The sharing of profits or loss by two or more people
Joint ownership of the assets of the business
An equal right in the management of the enterprise
What is Joint and Several Liability?
A creditor must first seek satisfaction of the debt out of the partnership assets
If the partnership assets are not sufficient, the creditor may advance a claim against any single partner or all of the partners for the remaining partnership obligations
What is indemnification?
When one partner sues the other partner or partners for reimbursement of partnership debts
How are partnerships taxed?
The profits of the business are apportioned to each partner to pay personal income tax on
When will a partnership terminate
The partnership will terminate at the expiration of the term of the partnership, when the business objectives have been reached, or when the partners agree to terminate the operation
What is a dissolution
When a partner ceases to be associated with the venture
What is winding up?
The process involving the collection and distribution of the partnership assets
Order of the distribution of assets:
Third party creditors
Refund of loans made to or for the firm by the partners
The refund of capital contributions
Distribution of the balance of assets
What is Buy-Sell Agreement
Document that creates a process in advance on how the remaining partners are to buy out the leaving partner
What is a limited partnership?
A limited partnership is a business entity that consists of one or more general partners and one or more limited partners
What is the liability of a limited partner?
Liability of a limited partner is restricted to that person’s investment
How will a limited partner be held fully liable?
If the limited partnership is organized in an improper manner and is not fixed, they will have unlimited exposure
What is the purpose of the Limited Liability Partnership
Designated for professionals to avoid personal liability for the malpractice of other partners
True/False: Since the corporation is its own person, its status is not changed by the death or sale of stock by a shareholder
True
Explain the liability of corporations?
Shareholders are not personally liable for the payment of corporate debt in the absence of a personal guarantee
Only risk is their purchase of stock
Shareholders can be found personally liable by piercing the corporate veil
What are Subchapter S Corporations?
Profits are passed on directly to the shareholders and taxed to them, as profits would be in a partnership
What are qualifications necessary for a subchapter s corporation?
Must be a domestic corporation formed in a particular state
Entity must be a stand alone company
Maximum of 100 shareholders and no shareholder can be a non-resident alien
What is a franchise?
A franchise is an arrangement in which the owner of the trademark, trade name or copyright allows another to offer its products for sale or use in a geographic area
What is a distributorship
A manufacturing concern that licenses a dealer to sell its product such as an automobile dealership
What is a chain cycle business operation
When the franchisee operates the business under the name of the franchisor and must follow standardized methods of operation
The _______________________________ was created as a result of the Great Depression to restore confidence in the stock market
The Securities and Exchange Commission was created as a result of the Great Depression to restore confidence in the stock market
Explain the Securities Act of 1933
Authorizes the SEC to regulate the trading of listed securities, investigate securities fraud, regulate securities dealers, supervise mutual funds, and recommend administrative sanctions for violations of the various securities laws

Governs the initial sales of securities by a business and mandates that all information concerning the issuance of securities must be made available to the public
Security - Stocks and bonds issued by a corporation
A registration statement must be filed with the SEC if a company wishes to go public
The SEC’s job is to make sure the public has enough information to determine whether or not one wishes to buy a security
Explain the Sarbanes-Oxley Act
Enacted by Congress after the collapse of the Enron Company and the revelation of massive accounting fraud and misleading corporate financial reports
Seeks to enhance corporate responsibility, enhance financial disclosures, and combat corporate and accounting fraud
Only applied to publicly traded companies
Explain The Securities Exchange Act of 1934
Regulates the subsequent sale of securities and requires the registration of security exchanges, brokers, and dealers of the markets in which securities are traded
Aggressive pursuit of insider trading
Pursues Tipping
What is tipping?
When someone is “tipped” with information not made public regarding whether or not a stock should be bought or sold
What is the Private Securities Litigation Reform Act of 1995
Requires corporations to release financial forecasts and variables that could change those forecasts
The United Nations was created in ____ to replace the League of Nations
1945
What is the General Assembly of the UN?
“Parliament of nations” - discuss world issues
Authority to adopt resolutions
Primarily responsible for analyzing legal matters of interest and in formulating international conventions
What is the Security Council of the UN?
The real power of the UN
15 countries whose purpose is to maintain international security and peace
Five permanent members
The United States
Russia
China
France
England
Two remaining members are selected by the general assembly and serve two year terms
Impose economic sanctions, order an arms embargo, or even dispatch troops to an area
What is the International Court of Justice?
Located in Hague, Netherlands
Role is to apply international law to legal disputes in attempt to settle controversies
Fifteen judges are selected by the Assembly and Securities Council
Only 137 Cases from 1945-2008 have been heard
The US is not a member
What are the political risks of international commerce?
Governments may place limitations on trade with nations involving national security threats
Expropriation is the taking of property by a foreign government without adequate compensation
What are the economic risks of international commerce?
Fluctuation of exchange rates
Price differences
What are the transaction risks of international commerce?
Non-Payment and Non-Delivery
What is Pre-Contractual Liability?
A duty to negotiate in good faith and a duty to proceed with negotiations in accordance with prior representations and promises
What is Comity?
Comity is the concept that represents the international equivalent of full faith and credit
Upon receipt of goods by a carrier, the carrier generates an irrevocable ____ __ _____ that operates as a receipt for the goods
Upon receipt of goods by a carrier, the carrier generates an irrevocable bill of lading that operates as a receipt for the goods
A ________ is the physical transfer of goods by the owner into the hands of another party for safekeeping or some other purpose
Bailment
The _______ _____ has exclusive jurisdiction over all controversies of a civil nature in which a state is a party and exclusive jurisdiction over proceedings against ambassadors or other public ministers consistent with the law of nation
The Supreme Court has exclusive jurisdiction over all controversies of a civil nature in which a state is a party and exclusive jurisdiction over proceedings against ambassadors or other public ministers consistent with the law of nation
The _______ _____also has appellate jurisdiction or the ability to hear cases on appeal from the federal circuit courts and courts of the states
The Supreme Court also has appellate jurisdiction or the ability to hear cases on appeal from the federal circuit courts and courts of the states
Which case legitimized the Supreme Court in the eyes of the public
Marbury v. Madison legitimized the Supreme Court in the eyes of the public
The federal courts are frequently described as the __________ of the United States Constitution because their decisions protect the rights and liberties guaranteed by this historic document
guardians
The court of original jurisdiction or trial court in the federal system is the District Court, and appeals are entertained by which court?
The court of original jurisdiction or trial court in the federal system is the District Court, and appeals are entertained by the Circuit Court of Appeals
The Supreme Court of the US will review a lower court’s decision if it presents what?
a compelling national question that needs to be answered
There are __ district courts in the US
94
What type of cases can the federal court hear?
The type of cases the federal court may hear are limited to questions involving federal law, the US Constitution, and disputes between citizens of different states where the amount in controversy exceeds $75,000
How many circuit courts are there in the US? What are their purposes?
13 circuit courts in the US
11 of them hear cases on appeal from the district courts
12th circuit is devoted to hearing cases from the District of Columbia
13th hears appeals involving tort claims against the US Government, patent cases, and appeals from the US Court of Federal Claims and the Court of International Trade
Parties may appeal to the circuit courts as a matter of _____
right
When the court of appeals decides a case, that decision is _______ over all of the district courts within that circuit
binding
What do the Supreme Court cases usually involve?
Cases usually involve important issues about the Constitution or federal law
What is an activist?
One who views his or her role as bringing about social change
Explain being Judicial Restraint-Oriented?
A justice that is judicial restraint-oriented tends to believe that his or her role is merely to make sure that a rule is constitutional
What is the supreme court term length
Term begins on the first Monday in October and ends when the list of scheduled cases is reached during the summer
What is a writ of certiorari?
Latin for “we wish to be informed”
What are the factors of whether or not the Supreme Court will grant an appeal:
A Conflict in the US Court of Appeal decisions on the same issue
A state’s highest court has issued a ruling on an issue that conflicts with a decision of another state’s highest court or with a United States Court of Appeal
A State Court or a US Court of Appeal has decided an important question of Federal law that has not been, but should be settled by the Supreme Court
A petition for a Writ of Certiorari is ______ granted when the alleged error merely consists of factual mistakes or the misapplication of a properly states rule of law
rarely
The court of original jurisdiction in PA is known as the ______ __ ______ _____
The court of original jurisdiction in PA is known as the Court of Common Pleas
What is the Trial Court of PA responsible for?
Civil and Criminal Cases
What is the Family court of PA responsible for?
Juvenile Cases and matters involving the family
What is the Orphan Court of PA responsible for?
Deals with matters involving estates
A ____ in a criminal trial generally consists of 12 people whose decisions must be unanimous
jury
What is a jurisdiction?
Jurisdiction refers to the power of a court to determine the merits of a dispute and to grant an aggrieved party relief
Courts must have jurisdiction over the _______ ______ and the _______ _________ to properly take action
Courts must have jurisdiction over the subject matter and the parties involved to properly take action
What is Subject Matter Jurisdiction
The Particular court where the dispute is heard must have the power to hear the kind of case that is in controversy
Explain Jurisdiction over the person
Requires the court to have power to exercise its authority over the defendant
The Supreme Court has rules that a state court may exercise personal jurisdiction over a non-resident defendant as long as there are minimum contacts between the defendant and the state in which the suit has been filed
What is a venue
A venue is the place where a case should be heard
What is the concept of forum non-conveniens
When it is inconvenient for both parties to have the lawsuit at a certain place
What is standing?
The plaintiff must actually have a direct and substantial interest in the outcome of the case he or she intends to bring
What is Full Faith and Credit?
Full Faith and Credit is a constitutional mandate that requires each state to uphold the laws and decrees of every other state
What is Arbitration?
When two parties agree to have a third party made a decision
This decision is binding and upheld by the court
What is Mediation?
Used primarily in disputes between labor and management but also is suited for disputes between neighbors and family members
Advisory in nature
A mediator makes recommendations to the parties in order to aid them in solving their differences
What is Private Judging
Used when both sides are time constrained and can afford to hire a private judge, usually a retired judge
What are non-binding or mini trials
Parties submit their case to a panel of experts and a neutral advisor who aids both sides
The panel and advisor suggest the likely outcome if the case were to go to court
What are Neighborhood justice centers?
Receive cases from local police or magistrates
Two sides represent themselves before a panel of local residents