Anderson's Business Law - Vocab Part 1

Front 1

1-1: stare decisis

Back 1

1-1: “let the decision stand”; the principle that the decision of a court should serve as a guide or precedent and control the decision of a similar case in the future.

Front 2

1-2: administrative regulations

Back 2

1-2: rules made by state and federal administrative agencies.

Front 3

1-3: case law

Back 3

1-3: law that includes principles that are expressed for the first time in court decisions.

Front 4

1-4: common law

Back 4

1-4: the body of unwritten principles originally based upon the usages and customs of the community that were recognized and enforced by the courts.

Front 5

1-5: constitution

Back 5

1-5: a body of principles that establishes the structure of a government and the relationship of the government to the people who are governed.

Front 6

1-6: duty

Back 6

1-6: an obligation of law imposed on a person to perform or refrain from performing a certain act.

Front 7

1-7: equity

Back 7

1-7: the body of principles that originally developed because of the inadequacy of the rules then applied by the common law courts of England.

Front 8

1-8: law

Back 8

1-8: the order or pattern of rules that society establishes to govern the conduct of individuals and the relationships among them.

Front 9

1-9: precedent

Back 9

1-9: a decision of a court that stands as the law for a particular problem in the future.

Front 10

1-10: private law

Back 10

1-10: the rules and regulations parties agree to as part of their contractual relationships.

Front 11

1-11: procedural law

Back 11

1-11: the law that must be followed in enforcing rights and liabilities.

Front 12

1-12: right

Back 12

1-12: legal capacity to require another person to perform or refrain from an action.

Front 13

1-13: right of privacy

Back 13

1-13: the right to be free from unreasonable intrusion by others.

Front 14

1-14: statutory law

Back 14

1-14: legislative acts declaring, commanding, or prohibiting something.

Front 15

1-15: substantive law

Back 15

1-15: the law that defines rights and liabilities.

Front 16

2-16: en banc

Back 16

2-16: the term used when the full panel of judges on the appellate court hears a case.

Front 17

2-17: voir dire examination

Back 17

2-17: the preliminary examination of a juror or a witness to ascertain fitness to act as such.

Front 18

2-18: admissibility

Back 18

2-18: the quality of the evidence in a case that allows it to be presented to the jury.

Front 19

2-19: affirm

Back 19

2-19: action taken by an appellate court that approves the decision of the court below.

Front 20

2-20: answer

Back 20

2-20: what a defendant must file to admit or deny facts asserted by the plaintiff.

Front 21

2-21: appeal

Back 21

2-21: taking a case to a reviewing court to determine whether the judgment of the lower court or administrative agency was correct. (Parties— appellant, appellee)

Front 22

2-22: appellate jurisdiction

Back 22

2-22: the power of a court to hear and decide a given class of cases on appeal from another court or administrative agency.

Front 23

2-23: arbitration

Back 23

2-23: the settlement of disputed questions, whether of law or fact, by one or more arbitrators by whose decision the parties agree to be bound.

Front 24

2-24: association tribunal

Back 24

2-24: a court created by a trade association or group for the resolution of disputes among its members.

Front 25

2-25: attorney–client privilege

Back 25

2-25: right of individual to have discussions with his/her attorney kept private and confidential

Front 26

2-26: complaint

Back 26

2-26: the initial pleading filed by the plaintiff in many actions, which in many states may be served as original process to acquire jurisdiction over the defendant.

Front 27

2-27: counterclaim

Back 27

2-27: a claim that the defendant in an action may make against the plaintiff.

Front 28

2-28: court

Back 28

2-28: a tribunal established by government to hear and decide matters properly brought to it.

Front 29

2-29: cross–examination

Back 29

2-29: the examination made of a witness by the attorney for the adverse party.

Front 30

2-30: defendant

Back 30

2-30: party charged with a violation of civil or criminal law in a proceeding.

Front 31

2-31: demurrer

Back 31

2-31: a pleading to dismiss the adverse party’s pleading for not stating a cause of action or a defense.

Front 32

2-32: deposition

Back 32

2-32: the testimony of a witness taken out of court before a person authorized to administer oaths.

Front 33

2-33: direct examination

Back 33

2-33: examination of a witness by his or her attorney.

Front 34

2-34: directed verdict

Back 34

2-34: a direction by the trial judge to the jury to return a verdict in favor of a specified party to the action.

Front 35

2-35: discovery

Back 35

2-35: procedures for ascertaining facts prior to the time of trial in order to eliminate the element of surprise in litigation.

Front 36

2-36: execution

Back 36

2-36: the carrying out of a judgment of a court, generally directing that property owned by the defendant be sold and the proceeds first be used to pay the execution or judgment creditor.

Front 37

2-37: expert witness

Back 37

2-37: one who has acquired special knowledge in a particular field as through practical experience or study, or both, whose opinion is admissible as an aid to the trier of fact.

Front 38

2-38: federal district court

Back 38

2-38: a general trial court of the federal system.

Front 39

2-39: garnishment

Back 39

2-39: the name given in some states to attachment proceedings.

Front 40

2-40: general jurisdiction

Back 40

2-40: the power to hear and decide most controversies involving legal rights and duties.

Front 41

2-41: impeach

Back 41

2-41: using prior inconsistent evidence to challenge the credibility of a witness.

Front 42

2-42: instruction

Back 42

2-42: summary of the law given to jurors by the judge before deliberation begins.

Front 43

2-43: interrogatories

Back 43

2-43: written questions used as a discovery tool that must be answered under oath.

Front 44

2-44: judge

Back 44

2-44: primary officer of the court.

Front 45

2-45: judgment n.o.v.

Back 45

2-45: or non obstante veredicto (notwithstanding the verdict), a judgment entered after verdict upon the motion of the losing party on the ground that the verdict is so wrong that a judgment should be entered the opposite of the verdict.

Front 46

2-46: judicial triage

Back 46

2-46: court management tool used by judges to expedite certain cases in which time is of the essence, such as asbestos cases in which the plaintiffs are gravely ill.

Front 47

2-47: jurisdiction

Back 47

2-47: the power of a court to hear and determine a given class of cases; the power to act over a particular defendant.

Front 48

2-48: jury

Back 48

2-48: a body of citizens sworn by a court to determine by verdict the issues of fact submitted to them.

Front 49

2-49: limited (special) jurisdiction

Back 49

2-49: the authority to hear only particular kinds of cases.

Front 50

2-50: mediation

Back 50

2-50: the settlement of a dispute through the use of a messenger who carries to each side of the dispute the issues and offers in the case.

Front 51

2-51: minitrial

Back 51

2-51: a trial held on portions of the case or certain issues in the case.

Front 52

2-52: mistrial

Back 52

2-52: a court’s declaration that terminates a trial and postpones it to a later date; commonly entered when evidence has been of a highly prejudicial character or when a juror has been guilty of misconduct.

Front 53

2-53: motion for summary judgment

Back 53

2-53: request that the court decide a case on basis of law only because there are no material issues disputed by the parties.

Front 54

2-54: motion to dismiss

Back 54

2-54: a pleading that may be filed to attack the adverse party’s pleading as not stating a cause of action or a defense.

Front 55

2-55: ombudsman

Back 55

2-55: a government official designated by a statute to examine citizen complaints.

Front 56

2-56: opening statements

Back 56

2-56: statements by opposing attorneys that tell the jury what their cases will prove.

Front 57

2-57: original jurisdiction

Back 57

2-57: the authority to hear a controversy when it is first brought to court.

Front 58

2-58: plaintiff

Back 58

2-58: party who initiates a lawsuit.

Front 59

2-59: pleadings

Back 59

2-59: the papers filed by the parties in an action in order to set forth the facts and frame the issues to be tried, although, under some systems, the pleadings merely give notice or a general indication of the nature of the issues.

Front 60

2-60: process

Back 60

2-60: paperwork served personally on a defendant in a civil case.

Front 61

2-61: prosecutor

Back 61

2-61: party who originates a criminal proceeding.

Front 62

2-62: recross–examination

Back 62

2-62: an examination by the other side’s attorney that follows the redirect examination.

Front 63

2-63: redirect examination

Back 63

2-63: questioning after cross– examination, in which the attorney for the witness testifying may ask the same witness other questions to overcome effects of the cross–examination.

Front 64

2-64: reference to a third person

Back 64

2-64: settlement that allows a nonparty to resolve the dispute.

Front 65

2-65: remand

Back 65

2-65: term used when an appellate court sends a case back to trial court for additional hearings or a new trial.

Front 66

2-66: rent–a–judge plan

Back 66

2-66: dispute resolution through private courts with judges paid to be referees for the cases.

Front 67

2-67: request for production of documents

Back 67

2-67: discovery tool for uncovering paper evidence in a case.

Front 68

2-68: reverse

Back 68

2-68: the term used when the appellate court sets aside the verdict or judgment of a lower court.

Front 69

2-69: reversible error

Back 69

2-69: an error or defect in court proceedings of so serious a nature that on appeal the appellate court will set aside the proceedings of the lower court.

Front 70

2-70: small claims courts

Back 70

2-70: courts that resolve disputes between parties when those disputes do not exceed a minimal level; no lawyers are permitted; the parties represent themselves.

Front 71

2-71: subject matter jurisdiction

Back 71

2-71: judicial authority to hear a particular type of case.

Front 72

2-72: summary jury trial

Back 72

2-72: a mock or dry–run trial for parties to get a feel for how their cases will play to a jury.

Front 73

2-73: summation

Back 73

2-73: the attorney address that follows all the evidence presented in court and sums up a case and recommends a particular verdict be returned by the jury.

Front 74

2-74: trial de novo

Back 74

2-74: a trial required to preserve the constitutional right to a jury trial by allowing an appeal to proceed as though there never had been any prior hearing or decision.

Front 75

2-75: writ of certiorari

Back 75

2-75: order by the U.S. Supreme Court granting a right of review by the court of a lower court decision.

Front 76

9-76: absolute privilege

Back 76

9-76: complete defense against the tort of defamation, as in the speeches of members of Congress on the floor and witnesses in a trial.

Front 77

9-77: contract interference

Back 77

9-77: tort in which a third party interferes with others’ freedom to contract.

Front 78

9-78: contributory negligence

Back 78

9-78: negligence of the plaintiff that contributes to injury and at common law bars from recovery from the defendant although the defendant may have been more negligent than the plaintiff.

Front 79

9-79: defamation

Back 79

9-79: untrue statement by one party about another to a third party.

Front 80

9-80: false imprisonment

Back 80

9-80: intentional detention of a person without that person’s consent; called the shopkeeper’s tort when shoplifters are unlawfully detained.

Front 81

9-81: intentional infliction of emotional distress

Back 81

9-81: tort that produces mental anguish caused by conduct that exceeds all bounds of decency.

Front 82

9-82: intentional tort

Back 82

9-82: civil wrong that results from intentional conduct.

Front 83

9-83: invasion of privacy

Back 83

9-83: tort of intentional intrusion into the private affairs of another.

Front 84

9-84: libel

Back 84

9-84: written or visual defamation without legal justification.

Front 85

9-85: malpractice

Back 85

9-85: when services are not properly rendered in accordance with commonly accepted standards; negligence by a professional in performing his or her skill.

Front 86

9-86: negligence

Back 86

9-86: failure to exercise due care under the circumstances in consequence of which harm is proximately caused to one to whom the defendant owed a duty to exercise due care.

Front 87

9-87: product disparagement

Back 87

9-87: false statements made about a product or business.

Front 88

9-88: qualified privilege

Back 88

9-88: media privilege to print inaccurate information without liability for defamation, so long as a retraction is printed and there was no malice.

Front 89

9-89: shopkeeper’s privilege

Back 89

9-89: right of a store owner to detain a suspected shoplifter based on reasonable cause and for a reasonable time without resulting liability for false imprisonment.

Front 90

9-90: slander

Back 90

9-90: defamation of character by spoken words or gestures.

Front 91

9-91: slander of title

Back 91

9-91: malicious making of false statements as to a seller’ title.

Front 92

9-92: strict liability

Back 92

9-92: civil wrong for which there is absolute liability because of the inherent danger in the underlying activity, for example, the use of explosives.

Front 93

9-93: tort

Back 93

9-93: civil wrong that interferes with one’s property or person.

Front 94

9-94: trade libel

Back 94

9-94: written defamation about a product or service.

Front 95

9-95: trespass

Back 95

9-95: unauthorized action with respect to person or property.

Front 96

11-96: appropriation

Back 96

11-96: taking of an image, likeness, or name for commercial advantage.

Front 97

11-97: contract

Back 97

11-97: binding agreement based upon the genuine assent of the parties, made for a lawful object, between competent parties, in the form required by law, and generally supported by consideration.

Front 98

11-98: cybercrime

Back 98

11-98: crimes committed via the Internet.

Front 99

11-99: cyberlaw

Back 99

11-99: laws and precedent applicable to Internet transactions and communications.

Front 100

11-100: cyberspace

Back 100

11-100: World Wide Web and Internet communication.

Front 101

11-101: defamation

Back 101

11-101: untrue statement by one party about another to a third party.

Front 102

11-102: E–sign

Back 102

11-102: signature over the Internet.

Front 103

11-103: fair use

Back 103

11-103: principle that allows the limited use of copyrighted material for teaching, research, and news reporting.

Front 104

11-104: identity theft

Back 104

11-104: use of another’s credit tools, social security number, or other IDs to obtain cash, goods, or credit without permission.

Front 105

11-105: infringement

Back 105

11-105: violation of trademarks, patents, or copyrights by copying or using material without permission.

Front 106

11-106: intellectual property rights

Back 106

11-106: trademark, copyright, and patent rights protected by law.

Front 107

11-107: invasion of privacy

Back 107

11-107: tort of intentional intrusion into the private affairs of another.

Front 108

11-108: misrepresentation

Back 108

11-108: false statement of fact, although made innocently without any intent to deceive.

Front 109

11-109: pump–and–dump

Back 109

11-109: self–touting a stock to drive its price up and then selling it.

Front 110

11-110: search engine

Back 110

11-110: Internet service used to locate Web sites.

Front 111

11-111: tort

Back 111

11-111: civil wrong that interferes with one’s property or person.

Front 112

11-112: warrant

Back 112

11-112: authorization via court order to search private property for tools or evidence of a crime.

Front 113

12-113: quantum meruit

Back 113

12-113: as much as deserved; an action brought for the value of the services rendered the defendant when there was no express contract as to the purchase price.

Front 114

12-114: bilateral contract

Back 114

12-114: agreement under which one promise is given in exchange for another.

Front 115

12-115: contract

Back 115

12-115: a binding agreement based on the genuine assent of the parties, made for a lawful object, between competent parties, in the form required by law, and generally supported by consideration.

Front 116

12-116: contract under seal

Back 116

12-116: contract executed by affixing a seal or making an impression on the paper or on some adhering substance such as wax attached to the document.

Front 117

12-117: executory contract

Back 117

12-117: agreement by which something remains to be done by one or both parties.

Front 118

12-118: express contract

Back 118

12-118: agreement of the parties manifested by their words, whether spoken or written.

Front 119

12-119: formal contracts

Back 119

12-119: written contracts or agreements whose formality signifies the parties’ intention to abide by the terms.

Front 120

12-120: implied contract

Back 120

12-120: contract expressed by conduct or implied or deduced from the facts.

Front 121

12-121: informal contract

Back 121

12-121: simple oral or written contract.

Front 122

12-122: oblige

Back 122

12-122: promisee who can claim the benefit of the obligation.

Front 123

12-123: obligor

Back 123

12-123: promisor.

Front 124

12-124: offeree

Back 124

12-124: person to whom an offer is made.

Front 125

12-125: offeror

Back 125

12-125: person who makes an offer.

Front 126

12-126: option contract

Back 126

12-126: contract to hold an offer to make a contract open for a fixed period of time.

Front 127

12-127: privity

Back 127

12-127: succession or chain of relationship to the same thing or right, such as privity of contract, privity of estate, privity of possession.

Front 128

12-128: privity of contract

Back 128

12-128: relationship between a promisor and the promisee.

Front 129

12-129: promise

Back 129

12-129: person to whom a promise is made.

Front 130

12-130: promisor

Back 130

12-130: person who makes a promise.

Front 131

12-131: quasi contract

Back 131

12-131: court– imposed obligation to prevent unjust enrichment in the absence of a contract.

Front 132

12-132: recognizance

Back 132

12-132: obligation entered into before a court to do some act, such as to appear at a later date for a hearing. Also called a contract of record.

Front 133

12-133: right of first refusal

Back 133

12-133: right of a party to meet the terms of a proposed contract before it is executed, such as a real estate purchase agreement.

Front 134

12-134: unilateral contract

Back 134

12-134: contract under which only one party makes a promise.

Front 135

12-135: valid contract

Back 135

12-135: agreement that is binding and enforceable.

Front 136

12-136: void agreement

Back 136

12-136: agreement that cannot be enforced.

Front 137

12-137: voidable contract

Back 137

12-137: agreement that is otherwise binding and enforceable but may be rejected at the option of one of the parties as the result of specific circumstances.

Front 138

13-138: acceptance

Back 138

13-138: unqualified assent to the act or proposal of another; as the acceptance of a draft (bill of exchange), of an offer to make a contract, of goods delivered by the seller, or of a gift or deed.

Front 139

13-139: counteroffer

Back 139

13-139: proposal by an offeree to the offeror that changes the terms of, and thus rejects, the original offer.

Front 140

13-140: divisible contract

Back 140

13-140: agreement consisting of two or more parts, each calling for corresponding performances of each part by the parties.

Front 141

13-141: firm offer

Back 141

13-141: offer stated to be held open for a specified time, which must be so held in some states even in the absence of an option contract, or under the UCC, with respect to merchants.

Front 142

13-142: offer

Back 142

13-142: expression of an offeror’s willingness to enter into a contractual agreement.

Front 143

13-143: output contract

Back 143

13-143: contract of a producer to sell its entire production or output to a given buyer.

Front 144

13-144: requirements contract

Back 144

13-144: contract to buy all requirements of the buyer from the seller.

Front 145

14-145: confidential relationship

Back 145

14-145: relationship in which, because of the legal status of the parties or their respective physical or mental conditions or knowledge, one party places full confidence and trust in the other.

Front 146

14-146: contractual capacity

Back 146

14-146: ability to understand that a contract is being made and to understand its general meaning.

Front 147

14-147: duress

Back 147

14-147: conduct that deprives the victim of free will and that generally gives the victim the right to set aside any transaction entered into under such circumstances.

Front 148

14-148: economic duress

Back 148

14-148: threat of financial loss.

Front 149

14-149: fraud

Back 149

14-149: making of a false statement of a past or existing fact, with knowledge of its falsity or with reckless indifference as to its truth, with the intent to cause another to rely thereon, and such person does rely thereon and is harmed thereby.

Front 150

14-150: necessaries

Back 150

14-150: things indispensable or absolutely necessary for the sustenance of human life.

Front 151

14-151: physical duress

Back 151

14-151: threat of physical harm to person or property.

Front 152

14-152: reformation

Back 152

14-152: remedy by which a written instrument is corrected when it fails to express the actual intent of both parties because of fraud, accident, or mistake.

Front 153

14-153: status quo ante

Back 153

14-153: original positions of the parties.

Front 154

14-154: undue influence

Back 154

14-154: influence that is asserted upon another person by one who dominates that person.

Front 155

15-155: cancellation provision

Back 155

15-155: crossing out of a part of an instrument or a destruction of all legal effect of the instrument, whether by act of party, upon breach by the other party, or pursuant to agreement or decree of court.

Front 156

15-156: composition of creditors

Back 156

15-156: agreement among creditors that each shall accept a part payment as full payment in consideration of the other creditors doing the same.

Front 157

15-157: consideration

Back 157

15-157: promise or performance that the promisor demands as the price of the promise.

Front 158

15-158: forbearance

Back 158

15-158: refraining from doing an act.

Front 159

15-159: illusory promise

Back 159

15-159: promise that in fact does not impose any obligation on the promisor.

Front 160

15-160: past consideration

Back 160

15-160: something that has been performed in the past and which, therefore, cannot be consideration for a promise made in the present.

Front 161

15-161: promissory estoppel

Back 161

15-161: doctrine that a promise will be enforced although it is not supported by consideration when the promisor should have reasonably expected that the promise would induce action or forbearance of a definite and substantial character on the part of the promised and injustice can be avoided only by enforcement of the promise.