Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
34 Cards in this Set
- Front
- Back
|
Contract |
Legally enforceable agreement between two or more parties regarding a specified act or thing |
|
|
Contract Law |
Body of laws that governs what is legal and enforceable agreement |
|
|
Negotiable Instrument |
Form of commercial paper that is transferable among individuals of businesses |
|
|
Breach of Contract |
When one party fails to live up to the terms of the negotiated contract |
|
|
Sales Law |
A law governing the sale of goods or services for money or on credit |
|
|
Damages |
Financial payments awarded to someone injured by a breach of contract |
|
|
Consideration |
In the Court of law, this term means something of value |
|
|
Federal Trade Commision |
Agency that protects against fake advertising |
|
|
Federal Food and Drug Act |
This act banned adulteration and misbranding of foods and drugs involved in interstate commerce |
|
|
Statutory Law |
A written law, including state and federal constitutions, legislative enactments, treaties of the federal government, and ordinances of local government |
|
|
Common Law |
And underwritten law, body of law arising out of judicial decisions, some of which can be traced back to early England |
|
|
Judiciary |
Court system, branch of government that is responsible for setting disputes by applying laws |
|
|
Appellate Courts |
Appeals in the decisions made at the general trial court level |
|
|
Patent |
Guarantees an inventor exclusive right to an invention for 17 years |
|
|
Copyright |
Protects written material such as books, designs, cartoon illustrations, photos, computer software, music and videos. |
|
|
Trademark |
Consists of words, symbols, or other designations used by firms to identify their products from those of other firms |
|
|
Tort |
French for "wrong", refers to civil wrong inflicted on another person or person's property or reputation |
|
|
Bankruptcy |
A legal procedure whereby a person, unable to pay their debts, are relieved of those debts by the court |
|
|
Chapter 7 |
Straight bankruptcy or liquidation |
|
|
Chapter 11 |
Allows reorganization by companies |
|
|
Chapter 13 |
Allows repayment plan |
|
|
Voluntary Bankruptcy |
You or debtor files |
|
|
Involuntary Bankruptcy |
Creditor files for you |
|
|
Hedge Funds |
Private investment companies open only to qualified, large investors |
|
|
Tender Offer |
An offer made by a firm to the target firms shareholder |
|
|
Leveraged Buyout (L.B.O.) |
Transaction in which public shareholders are bought out and the firm reverts to private status |
|
|
Divestiture |
Occurs when a company sells assets such as susidaries, product lines, or production facilities. A firm usually takes this action to rid itself of unprofitable holdings |
|
|
Spin-Off and Sell-Off |
Two types of divestitures |
|
|
Television |
Leading advertising media |
|
|
Skimming Pricing Strategy |
This method sets an intentionally high price relative to the prices of competing products |
|
|
Publicity |
Information communicated through the media that's not paid for |
|
|
Advertising |
Information communicated through the media that is paid for |
|
|
Everyday Low Pricing |
Strategy devoted to maintaining continuous low prices rather than relying on short-term price-cutting at tactics such as Cents-Off coupons, rebates, and special sales |
|
|
Morning and Evening |
Highest rates for radio |
