Business Law 1 Multiple Choice

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9 Terms

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  1. Jurisdiction - juris (law), diction (to speak)

  1. The power of a court to hear a dispute and to “speak the law”

  2. The power to hear a case and enter a legally binding contract

  3. In personam (jurisdiction over the person)

    1. Long-arm statute (long-arming): A law that allows courts to reach ("extend their arm") beyond state lines to bring in out-of-state defendants, as long as certain conditions are met.

  4. In rem (jurisdiction over the thing/property)

  5. Original jurisdiction - where the case started

  6. Appellate jurisdiction - appeal

  7. Concurrent jurisdiction (state or federal) - plaintiff gets to decide

  8. Exclusive jurisdiction (only one type)

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  1. Supremacy clause

In cases in which there is someone versus the government/constitution, the government/constitution wins

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Alternatives to going to trial/Alternative Dispute Resolution (ADR)

  1. Negotiation - one-on-one between the parties (most of the time, the attorneys are not present)

  2. Mediation - with a neutral third party outside of the courts

    1. Nonbinding

  3. Arbitration - neutral third party (very knowledgeable in the subject matter)

    1. Binding

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  1. 4 types of damages 

  1. Compensatory damages - make the plaintiff whole again (first)

  2. Punitive damages - awarded to punish the wrongdoer/deter others from doing the same

  3. Consequential damages - damages that can be calculated

  4. Nominal damages - they have $1 or $2, have no idea how to compensate

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Standard of negligence

  1. The failure to exercise the standard of care that a reasonable person would exercise in similar circumstances

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  1. A type of negligence in which an individual is liable because they violated a statute

  1. Negligence per se

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Diversity of citizenship - want to have the case heard by the Supreme Cour

  1. The parties are not from the same state

  2. The amount in controversy is greater than $75,000

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  1. When is infringement present within intellectual property cases?

  1. When it causes consumer confusion

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  1. Type of intellectual property that covers the image and overall appearance of something (example: Starbucks)

Trade dress or trade secret