Business Law Test 1 Review

Front 1

Business Law

Back 1

rules imposed by the majority of citizens for the betterment of society. permits behaviors and punishes violations

Front 2

private law

Back 2

governs disputes between individuals/groups

Front 3

public law

Back 3

governs relationships between individuals/groups and government

Front 4

civil law

Back 4

ruling is liable and not liable, standard of proof is 51%, punishments include fines and monetary awards

Front 5

criminal law

Back 5

ruling is guilty and not guilty, standard of proof is higher at 95%/ Without reasonable doubt, punishments include fines and imprisonment

Front 6

cyberlaw

Back 6

governs issues of technology crimes such as id theft, phishing, etc. is not keeping up with the pace of technology

Front 7

Constitution

Back 7

Overarching law of the land, all other laws are compared and written in coordination with it.

Front 8

Federalism

Back 8

must abide by all arches of government. Constitution, statutes, federal, state, local ordinances

Front 9

precedent

Back 9

courts ability to make laws, rulings that made and used to make rulings in later cases

Front 10

Stare decisis

Back 10

courts obligation to follow precedent when making rulings

Front 11

administrative law

Back 11

government assigns regulation to agencies, treaty, executive order

Front 12

Natural law

Back 12

law of ethics, i.e. 10 commandments

Front 13

legal positivism

Back 13

obedience to the law, no gray area

Front 14

identification with the vulnerable

Back 14

pursuit of fairness, ex minimum wage

Front 15

tradition

Back 15

follow past practices, stare decisis

Front 16

legal realism

Back 16

weighs social factors, ex FMLA

Front 17

Business Ethics

Back 17

can be legally right but morally wrong

Front 18

Golden rule

Back 18

do unto others as you want them to do unto you

Front 19

Public Disclosure

Back 19

effects if the public knew this was taking place

Front 20

Universalization

Back 20

what would happen if everyone conducted this way

Front 21

Jurisdiction

Back 21

What court hears the case

Front 22

trial courts

Back 22

original jurisdiction, court of common pleas, presents evidence and calls witnesses, examines and rules on questions of fact

Front 23

appellate courts

Back 23

reviews previous judicial decisions to see if a court erred in its decision, reviews transcripts, briefs, oral arguments to rule on questions of law and not fact

Front 24

In personam jurisdiction

Back 24

over the person, geographic region

Front 25

In Rem Jurisdiction

Back 25

over property, land is in courts area regardless of owners location

Front 26

Federal Jurisdiction

Back 26

District courts, Intermediate courts of appeal, U.S. Supreme Court. Diversity of citizenship and question of a federal statute qualifies in its jurisdiction

Front 27

Venue

Back 27

Physical location that a case will be heard

Front 28

standing

Back 28

person has the legal right to bring action in court

Front 29

informal negotiation

Back 29

attempt to settle case prior to filing suit

Front 30

Pleading

Back 30

filing of a complaint, begins process of litigation

Front 31

defendant response

Back 31

Answers agree or deny, motion to dismiss, counterclaim

Front 32

Discovery

Back 32

trading of information before the trial, interragatories- list of questions needing to be answered, request to produce documents, depositions- sworm statement under oath, transcribed not in front of a judge

Front 33

Motions

Back 33

request for dismissal of special circumstance prior to trial

Front 34

Jury selection

Back 34

choosing of jurors prior to trial

Front 35

Trial

Back 35

actual hearing of case before judge and jury

Front 36

opening statements

Back 36

plaintiffs lawyer presents what they believe the can prove, followed by the defendant

Front 37

examination of witnesses and presentation of evidence

Back 37

plaintiff and defendants attempt to prove their case

Front 38

Closing arguments

Back 38

plaintiff and defendant explain to jury why they should rule in their favor

Front 39

Jury instructions

Back 39

Judge informs jury of requirements to meet their decision

Front 40

Verdict

Back 40

Judge presents the juries verdict

Front 41

post trial motions

Back 41

requests for dismissal or special circumstances

Front 42

appeal

Back 42

process of questioning law to examine or overturn verdict

Front 43

Alternate Dispute resolution (ADR)

Back 43

resolve a dispute without litigation, seen in all types of law but most often seen in business and contract law

Front 44

advantages of ADR

Back 44

1. quicker and less expensive
2. parties have partial control vs the uncertainty of a jury
3. no use of precedent or setting one
4. maintains business relationship and is less adversarial than litigation

Front 45

Negotiation

Back 45

bargaining process interacting informally for resolve issue, both sides generally make a compromise

Front 46

Mediation

Back 46

disputing parties mutually select a neutral party to settle case. Mediators role is to facilitate communication between sides and offer solutions and is nonbinding, but if agreement is made it becomes very difficult to change later

Front 47

Arbitration

Back 47

neutral third party gives a binding decision, most commonly used from a contractual agreement

Front 48

problems with ADR

Back 48

1. Informal
2. allows companies to hide bad behavior
3. very difficult to appeal an arbitration award
4. parties give up some of their legal rights in this process