Business Law I - Part 1

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PLANTIFF

Back 1

The party who begins a lawsuit by filing a complaint in the appropriate court

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DEFENDANT

Back 2

The party against whom a lawsuit is brought and from whom recovery is sought

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EXPRESS POWERS

Back 3

Powers that are explicitly stated; for example, in the U.S. Constitution

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IMPLIED POWERS

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Powers that arise as a result of an interpretation of the express powers by the courts

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JUDICIAL REVIEW

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The process by which a court determines the constitutionality of various legislative statues, administrative regulations, and executive actions

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STARE DECISIS

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The practice of relying on previous decisions in which similar disputes arose

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COMMON LAW

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The body of recorded decisions that courts refer to and rely upon when making later legal decisions

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PRECEDENT

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A model case that a court can follow when facing a similar situation

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CASE LAW

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The effects of court decisions that involve the same or similar facts

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STATUTORY LAW

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The field of law involving statues, which are laws passed by Congress or by state legislatures

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ORDIANCE

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A law that is passed by a local government such as a city council

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ADMINISTRATIVE LAW

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The body of rules, regulations, and decisions created by administrative agencies.

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UNIFORM COMMERCIAL CODE (UCC)

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A set of laws that govern various commercial transactions and that are designed to bring uniformity to the laws of the states.

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MORAL LAW

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The "law" concerened with the uneforceable oblicagtions that people have to one another

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JURISDICTION

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The authority of a court, as granted by a constitution or legislative act, to hear and decide cases

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ETHICS

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The philosophical study of what is right and wrong, good and bad

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MORALS

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Beliefs about behavior as judged by society

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VALUES

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Beliefs or standards considered worthwhile, and from which a society derives its moral rules

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CULTURE

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The set of shared attitudes, values, goals, and practices that characterize a social,racial, reigious, or corporate group.

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SUBCULTURE

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An ethnic, economic, regional, religious, or social group with attitudes or behaviors that distinguish it from others within a larger culture

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CODE OF ETHICS

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A set of rules that a company or other group adopts to express principles of ethical behavior that are expected o its personnel

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WHISTLEBLOWER

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An employee who discloses to the government, media, or upper management that the company is involved in wrongful or illegal activities

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CRIME

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An oense against the public at large punishable by the official governing body of a nation or state

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TORT

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A private wrong that injures another person's physical well-being, property, or reputation.

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TREASON

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The levying of war against the United States, or the giving of aid and comfort to the nation's enemies

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FELONY

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A crime punishable by death or imprisonment in a federal or state prison for a term exceeding one year

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MISDEMEANOR

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A less serious crime that is generally punishable by a fine and/or a prison sentence o not more than one year

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WHITE-COLLAR CRIME

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A term used to describe various crimes that typically do not involve force or vilence committed by and against businesses.

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ARSON

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The willful or malicious act of causing the burning of another's property.

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BURNING TO DEFRAUD

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A special category of crime providing for the punishment of persons who burn their own property with the aim of collecting insurance money

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LARCENY

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The act of taking and carrying away the personal property of another without the right to do so.

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ROBBERY

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The taking of property in the possession of another person against that person's will and under threat of bodily harm.

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BURGLARY

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The illegal entering of another person's premises for the purpose of committing a crime

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BRIBERY

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The act of offering, giving, receiving, or soliciting something of value to influence ofical action or the discharge of a public duty.

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FALSE PRETENSES

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A broad category of crimes that involve activities intended to deceive others or to obtain goods by making false claims

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FORGERY

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The false making or alteration of a writing with the intent to defraud

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PERJURY

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The crime of intentioanlly giving false oral or written statements under oath in a judical proceeding after having sworn to tell the truth

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EMBEZZLEMENT

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The wrongful taking of money or other property that has been entrusted to a person as a part of his or her job

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EXTORTION

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The act of taking of demanding money or other property from someone by using force, threats of force, or economic harm

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DEFAMATION

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The harming of a person's reputation and good name by the communication of a false statement

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LIBEL

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The spreading of damaging statements in written form, including pictures, cartoons, and effigies.

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SLANDER

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The spreading of damaging words or ideas about a person, directly or indirectly, in all other forms not considered libel.

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TRADE LIBEL

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Deamation that desals with an individual's title to property, or to the quality or conduct of a business

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NUISANCE

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An unlawful interference with the enjoyment of life or property.

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CONVERSION

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The wrongul exercise of dominion and control over another's personal property.

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NEGLIGENCE

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The ailure to exercise necessary care to protect others from unreasonable risk of harm

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REASONABLE PERSON

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A completely ictitious individual who is assumed to have the judgment and skill one would expect rom a person with the strengths and limitations of the person whose behavior is being judged

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VICARIOUSE NEGLIGENCE

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Charging a negligent act of one person to another

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CONTRIBUTORY NEGLIGENCE

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A legal defense that involves the failure of an injured party to be careful enough to ensure personal safety

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COMPARATIVE NEGLIGENCE

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A form of negligence that requires the court to assign damages according to the degree of ault of each party

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LIABLE

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Being judged legally responsible

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VICARIOUS LIABILITY

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The concept of laying responsibility or blame upon one person for the actions of another

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STRICT LIABILITY

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The doctrine under which persons may be liable for injuries to others whether or not they have been negligent or committed an intentional tort. Liability without the necessity of proving fault

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ADMINISTRATIVE AGENCY

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A Governmental body resonsible for the control and supervision of a particular activity or area o public interest

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LEGISLATIVE BRANCH

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The branch of a government body that consists o elected representatives who have the responsibility for passing laws that represent the will of the people

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EXECUTIVE BRANCH

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The branch of a government body that consistes of an elected executive, including his or her appointed staff

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JUDICIAL BRANCH

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The branch of a government body that determines if there have been violations of the law and interperts the law if there are questions about what the law means in particular situations

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ADMINSTRATIVE HEARING

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A trial-like judicial proceeding, without a jury, in which an administrative agency rules on matters of the law that the agency is charged with enforcing.