Legal And Social Environment Of Business Midterm Exam

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Adversary System of Justice

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Legal system in which the parties to a dispute present their own argument and are responsible for asserting their rights

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opening statement or argument

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oral presentations made to the jury by the attorneys before the parties present their cases.

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invasion of privacy

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in tort, the encroachment on the right of a person to their solitude, the appropriation of a person's reputation for commercial purposes, or the public disclosure of facts that the person had a legal right to keep private.

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Negligence

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The failure to do something that a reasonable person, guided by the ordinary considerations that regulate human affairs, would do or the doing of something that a reasonable person would not do.

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proximate cause

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in tort law, the action of the defendant that produces the paintiff's injuries, without which the injury or damage in question would not have existed.

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sine qua non

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Latin "without which not" an indespensable thing; something on which something else relies upon

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tort

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an injury or wrong commited with or without force against another person or his property; a civil wrong that is a breach of a legal duty owed by the person who commits the tort to the victim of the tort.

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tortfeasors

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an individual or business that commits a tort.

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unknown hazards

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in products liability, a claim that tort liability should be assigned to a producer for injuries suffered by a consumer due to a defect or hazard in a product that was not known by the producer at the time the product was made.

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privity

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a legal relationship between parties, such as between parties to contract.

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privity of contract

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the immediate relationship that exists between the parties to a contract

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scienter

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Latin for "knowingly" usually meaning that the defendant knew that the act in question was illegal.

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strict liability

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a legal theory that imposes responsibility for damages regardless of the existence of negligence; in tort law, any good sold that has a defect that causes injury leads to the imposition of liability

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commerce clause

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That part of the U.S. Constitution that gives Congress the power to regulate interstate commerce; the basis of much federal regulation.

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injunction

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an order issued by a court that restrains a person or business from doing some act or orders the person to do something. May be permanent or temporary.

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Interrogatories

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In the discovery process, a set of written questions for a witness or a party for which written answers are prepared with assistance of counsel and signed under oath.

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accord

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in a debtor/creditor relationship, an agreement between the parties to settle a dispute for some partial payment. The creditor has a right of action against the debtor.

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Contract

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a legal relationship consisting of rights and duties of contracting parties; a promise or set of promises constituting an agreement between the parties that gives each a legal duty to the other and also the right to seek a remedy for the breach of those duties. The elements of a contract include agreement, consideration, legal capacity, lawful subject matter, and genuine consent.

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duress

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when coercion or threats are used to get another person to act in a way, such as sign a contract, that the person would not otherwise agree to.

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equitable remedies

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the means by which a court enforces a right adjudicated in equity or prevents or redresses the violation of such a right. Remedies include specific performance, injunction, recission, reformation, and declaratory, judgement.

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fraud

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an intentional misrepresentation of a material fact designed to induce the person receiving the miscommunication to rely upon it ti her detriment, so that a loss is suffered

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nominal damages

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a damage award whereby a court recognizes that the plaintiff has suffered a breach of duty but has not suffered an actual financial loss or injury as a result.

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quasi contract

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a contract imposed by law, in the absence of an actual contract, to prevent unjust enrichment.A contract implied in law.

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Ratification

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In contract law, the act of accepting responsibility for a previous act that would not constitute an enforceable contractual obligation but for the ratification. Ratification causes the obligation to be binding as if it were valid and enforceable in the first place.

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Trade dress

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intellectual property protected by trademark law and the Lanham Act that concerns the total appearance and image of products and of service establishments, including shape, size, graphics, and color.

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Trade name

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A word or symbol that has become sufficiently associated with a product over a period of time that it has lost its primary meaning and has acquired a secondary meaning; once so established, the company has a right to bring a legal action against those who infringe on the protection provided the trade name.

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Trade Secrets

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in tort law, valuable, confidential data usually in the form of formulas, processes, and other forms of information not patented or not paentable that are developed and owned by a business.

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Trademark

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a distinctive design, logo, mark, or word that a business can register with a government agency for its exclusive use in identifying its product or itself in the marketplace.

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business trusts

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a business organization, similar to a corporation, by which investors receive transferable certificates of beneficial interest instead of shares or stock.

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conversion

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the unauthorized taking of property, permanently or temporarily, that deprives its rightful owner of its lawful use

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long arm-statute

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a state statute permitting courts to obtain personal jur

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jurisdiction

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the right of a court or other body to hear a case and render judgement

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civil law

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laws; written or unwritten, that specify the duties that exist between and among people, as opposed to criminal matters

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criminal law

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governs or defines legal wrongs, or crimes, committed against society. Wrongdoers are punished for violating rules of society.

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criminal negligence

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this is gross negligence so extreme that it is punishable as a crime. E.G. involuntary manslaughter killing someone drunk driving.

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misdemeanors

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a lesser crime that is not a felony nor treason and is punishable by fine and/or imprisonment in other than state or federal penitentiaries.

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Probable Cause

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Reasonable ground to believe the existence of facts warranting the undertaking of certain actions, such as the arrest or search of a person.

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constitution

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a written document establishing the powers of the government and its basic structure; the fundamental law of a nation; the controlling authority over all other law

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law

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enforceable rules of conduct set forth by a government to be followed by the citizens of the society.

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private law

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a classification of law; generally denoting laws that affect relationships between people

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procedural law

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the rules of the court system that deal with the manner in which lawsuits are initiated and go forward. Court systems usually have rules regarding pleadings, process, evidence, and practice.

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public law

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a classification law, generally denoting lawas that affect relationships between people and their governments.

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substantive law

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law that defines the rights and duties of persons to each other, as opposed to procedural law.

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complaint

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the initial pleading by the plaintiff in a civil action that informs the defendant of the material facts on which the plaintiff bases the lawsuit.

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premises liability

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when owner or party with responsibility for maintaining certain property fails to provide adequate safety for visitors to the property against criminal attacks or accidents.

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private nuisance

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when an activity reduces the right of one person, or a small number of persons, to enjoy property without unreasonable interference.

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profit

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a servitude that gives the right to pasture cattle, dig for minerals, or otherwise take away some part of the soil.

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public nuisance

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when an activity reduces the right of the public in general to enjoy property without unreasonable interference

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statutes of limitation

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a statute setting maximum time periods from the occurence of an event, during which certain actions can be brought or rights enforced.

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trespass

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an unauthorized intrusion upon the property rights of another.

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zoning

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when the land in an area, usually a city, is divided into categories according to the kind of structures that may be built, the purpose of the land, and any other bul regarding legal bulls who gives a f.