Business Law Exam 1

Alternative Dispute Resolution

The resolution of disputes in ways other than those involved in the traditional judicial process, such as negotiation, mediation, and arbitration

Answer

Procedurally, a defendant's response to a complaint, admitting or denying each allegation.

Complaint

The pleading made by a plaintiff alleging wrongdoing on the part of the defendant. When filed with court, the complaint initiates a lawsuit

Counterclaim

A claim made by a defendant in a civil lawsuit against the plaintiff. In effect, the defendant is suing the plaintiff

Default Judgement

A judgement entered by a court against a defendant who has failed to appear in court to answer or defend against the plaintiffs claim

Deposition

The testimony of a party to a lawsuit or a witness taken under oath before a trial

Discovery

A method by which the opposing parties obtain information from each other to prepare for trial

Docket

The list of cases entered on a court’s calendar and thus scheduled to be heard by the court

Interrogatories

A series of written questions for which written answers are prepared by a party to a lawsuit, usually with the assistance of the party’s attorney and then signed under oath

Jurisdiction

The authority of a court to hear and decide a specific case

Litigation

The process of resolving a dispute through the court system

Long Arm Statue

A state statue that permits a state to exercise jurisdiction over nonresident defendants

Service of Process

The delivery of the complaint and summons to the defendant

Mediation

a method of settling disputes outside the courts by using the services of a neutral third party who acts as a communicating agent between the parties and assists them in negotiating a settlement

Motion to Dismiss

A pleading in which a defendant admits the facts as alleged by the plaintiff but asserts that the plaintiffs claim to state a cause of action has no basis in law

Negotiation

A process in which parties attempt to settle their dispute informally, with or without attorneys to represent them

Pleadings

Statements by the plaintiff and the defendant that detail the facts, charges, and defenses in a case

Service of Process

The delivery of the complaint and summons to the defendant

Small Claims Court

A special court in which parties can litigate small claims without an attorney

Standing to sue

The legal requirement that an individual must has a sufficient stake in a controversy in order to bring a lawsuit

Venue

The geographic district in which a legal action is tried and from which the jury is selected

Voir Dire

A part of the jury selection process in which the attorneys question prospective jurors about their backgrounds, attitudes, and biases to ascertain whether they can be impartial jurors. “To see, to speak”

Business Ethics

The application of moral principles and values in a business context

Corporate Social Responsibility (CSR)

The idea that corporations can and should act ethically and be accountable to society for their actions

Cost Benefit Analysis

A decision-making technique that involves weighing the costs of a given action against the benefits of that action

Duty Based Ethics

An ethical philosophy rooted in the idea that every person and business has certain duties to others, including both humans and the planet

Ethics

Moral principles and values added to social behavior

Moral Minimum

The minimum level of ethical behavior expected by society, which is usually defined as compliance with the law

Outsourcing

The practice by which a company hires an outside firm or individual to perform work rather than hiring employees to do it

IDDR

“ desire to do right.” 1. Inquiry 2. Discussion 3. Decision 4. Review

actionable

capable of serving as the basis of a lawsuit. An actionable claim can be purchased in a lawsuit or other court action

actual malice

The deliberate intent to cause harm that exists when a person makes a statement with either knowledge of its falsity or reckless disregard of the truth. Required to establish defamation against public figures

appropriation

In tort law, the use by one person of another’s persons name, likeness, or other identifying characteristic without permission and for the benefit of the user

assault

Any word or action intended to make another person fearful of immediate physical harm- a reasonably believable threat

assumption of risk

A defense to negligence that bars a plaintiff from recovering for injuries or damage suffered as a result of risks that were known and voluntarily assumed

battery

Physical contact with another that is unexcused, harmful or offensive, and intentionally performed

causation in fact

an act or omission without which an event would not have occurred

comparative negligence

Rule in tort law, used in majority of states, that reduces plaintiff recovery in proportion to the plaintiffs degree of fault, rather than barring the recovery completely; both plaintiff and defendant are negligent, but different degrees

damages

A monetary award sought as a remedy for a breach of contract or tortious action

defamation

defense

A reason offered by a defendant in an action or lawsuit as to why the plaintiff should not prevail

DRAM Shop Acts

State statue that imposes liability on those who sell or serve alcohol for injuries resulting from accidents caused by intoxicated persons when the sellers or servers of alcoholic drinks contributed to the intoxication

duty of care

The duty of all persons, as established by tort law, to exercise a reasonable amount of care in their dealings with others

fraudulent misrepresentation

Good Samaritan Statue

intentional tort

lible

malpractice

negligence

privity of contract

product liability

proximate cause

puffery

punitive damages

reasonable person standard

slander

strict liability

tort

trespass to land

trespass to personal property

unreasonably dangerous product

IDDR

Inquiry, Discussion, Decision, Review