Business Law Final

If there is a direct conflict between federal law and an Alaska state law

the federal law takes precedence

Gail is a resident of NH. In Vermont, Gail enters into a contract with Heather, a resident of Vermont. When Gail breaches the contract, Heather files a suit against Gail in Vermont. Regarding Gail, Vermont can

exercise in personam jurisdiction

Betty files a suit against Carl. Before going to trial, the parties meet, with their attorneys to represent them, to try to resolve their dispute without involving a 3rd party. This is

negotiation

Mike files a suit against Kay. Before going to trial, the parties meet, with their attorneys to represent them, to formally present their dispute to a 3rd part ( other than a court) who renders a legally binding decision. This is

arbitration

Pat files a successful suit against Quality Stores based on Quality’s negligence. Normally, an award is given to make the injured party whole again. This type of damages is called what?

Compensatory damages

Harry, a resident of Indiana, has an accident with Jane, a resident of Kentucky, while driving through that state. Jane files a suit against Harry in Kentucky. Regarding Harry, Kentucky has

in personam jursidiction

Bette backs out of City Parking Garage, colliding with Dill’s car. Dill may recover $7,500 to cover the cost of the repairs if Bette failed to act as

a reasonable person

Caleb is driving a car in which Dotty is a passenger when an accident occurs. Caleb and Dotty are emotionally rattle, but neither is physically hurt. Caleb is not liable to Dotty on a negligence theory because

Dotty was not injured

A state statute requires machinery in industrial plants to include automatic shut-off switches accessible to each employee working on the machine. Steel Company’s (SC’s) equipment does not have the switches. Trudy, an SC employee, suffers an injury that an accessible shut-off switch would have prevented. Trudy’s best theory for recovery agains SC is

negligence per se

Sandy, a resident of Illinois, wants to file suit against Carl, a resident of Kansas, over Carl’s failure to pay Sandy for work on his house. The amount in dispute is $85,000 under diversity of citizenship requirements

a federal court can take jurisdiction because all elements are met

Vendors, INC, and Java Bistros Corporation dispute a term in their contract. The least expensive method of resolving the dispute between Bean and Java mat be

negotiation because no third parties are needed

Bubbly Cola features Sparkly Cola’s trademark without its owner’s permission. Bubbly’s use of the mark is actionable provided

consumers are confused

Ernie’s Good Eatin Cafe uses a distinctive decor, layout, menu, and style of service. This restaurant’s image and overall appearance is

trade dress

____ is the type of intellectual property that covers literary or artistic works

copyright

The commerce clause gives Congress the power to regulate commerce that crosses state lines. This type of commerce is _______ commerce

interstate

________ is the supreme law of the land

U.S. Constitution

What are the 3 classification of torts?

intentional, unintentional, strict/liable product

What are the 4 elements of negligence?

duty, breach, causation, damages ( injury)

________ is another name for the first 10 amendments to the Constitution

Bill of Rights

Freedom of Speech is guaranteed under the _____ amendment

first

List the 3 branches of government

legislative, executive, judicial

Giving someone a _____ grants that individual the right to use their intellectual property

license

____ and _____ are forms of defamation

libel, slander

Reno, driving while intoxicated, causes a car accident that results in the death of Santo. Reno is arrested and charged with a felony. A felony is a crime punishable by death or imprisonment for

more than one year

Edith works for Fast Trades, Inc, a brokerage that facilitates frequent, quick securities transactions for investors. Edith steals her employer’s computer program to start up her own competing business, Get Rick Quick, Inc. This is

Larceny

Mae is granted immunity after she agrees to testify about a crime. Mae has an absolute privilege against discrimination and can

not be prosecuted for any crime

In studying the legal environment of business, students also review ethics in a business context. Ethics includes the study of what constitutes

fair or just behavior

Precision Engineering Inc, like other corporations, is subject to laws that are broad in their purpose and their scope. Compliance with these laws is not always sufficient to determine “right” behavior because

the law does not codify all ethical requirements

In making business decisions, Glenda, personnel manager for HVAC Maintenance, Inc, applies her belief that all persons have fundamental rights. This is

the principle of rights

In making decisions for Commercial Janitorial & Maintenance Services, Inc, Isaiah uses a cost-benefit analysis. This analysis is part of

Utilitarianism

Palette Paints, Inc expends funds and takes steps to ensure funds and takes steps to ensure that all employees are safe on the job, that all products are safe for consumers, and that the environmental impact of the corporation is minimal

corporate social responsibility

Ira signs Jill’s name, without her authorization, on the back of a check made out to her. This is

forgery

Smitty, driving while intoxicated, causes a car accident that results in the death of Tiffany. Smitty is arrested and charged with a felony. A felony is a crime punishable by death or imprisonment for

more than one year

Page points a knife at Ray’s daughter, threatening to hold her hostage and “cut” her unless Ray takes a certain file from Skelter Supplies Corporation, his employer. Charged with theft, Ray can successfully claim as a defense

duress

Herb, a computer programmer for Inventory Control Corporation, is arrested in his employer’s parking lot on suspicion of larceny. Herb must be informed of his right to

remain silent

Bob, research manager for CornAgri Products, Inc applies utilitarian ethics to determine that an action is morally correct when it produces the greatest good for

the most people

__________is the application of moral and ethical principles in a business context

Business Ethics

Gail is a private lender who is charged with filing false claims in bankruptcy proceedings against her debtors. The standard of proof to find a defendant who has been charged with a crime guilty is

beyond a reasonable doubt

What is the burden of proof in a civil case?

a preponderance of the evidence

unsolicited junk email

spam

Owning a domain name for the sole purpose of keeping others from using it is called

cybersquatting

to be found guility of a particular crime you must have the _____ and the ________

actus reus/ menis reus

In the Ford Pinto Case, Ford used what kind of analysis to determine if they should fix the cars or pay out the claims?

cost benefit analysis

the type of action falls under which ethical theory?

utilitarianism

Grant and Hester enter into a contract for a sale of Hester’s Pastoral Valley Orchard. This contract

must be in writing to be enforceable

Craft Engineering, Inc contracts for a sale of technical instruments to Delta Design Company. Before the date on which performance is due, Craft notifies Delta that it will not preform. This is

Anticipatory repudiation

Lexi pays Mobile Edges Electronics $600 and receives a new phone. Under the UCC, Mobile Edge is

a merchant

Expert Stitching Corporation enters into a contract to sell denim clothing to Fine Fashion Company, which in turn sells a pair of jeans to Grady, a consumer. In contrast to standards that apply to customers, the UCC imposes on merchants

stricter standards

Marine Expeditions Inc, pays Nates Boats $4k to use an oceangoing vessel for a month. For the purposes of the UCC, this is

a lease

UCC Article 2 covers the transactions except for

stock

Asian Noodle Company contracts to sell 1,000 cases of rice noodles to Bob’s Bistros, Inc but refuse to deliver. Bob’s right to obtain substitute goods for those that were due under the contract is the right to obtain

cure

Greg, a salesperson for Home Improvement, tells Irena, “ This is the best floor sander I’ve ever seen!” This statement is

puffery

Tom enters a coffee show where he has an open account. Fills up a coffee, nods to the cashier and walks out. Tom has formed an

implied-in-fact contract

Chris, a minor, signs a contract to purchase alcoholic beverages for Dine & Drink, his parents restaurant. The contract is

void as a matter of law

When a seller is responsible for the goods until it reaches the buyers this is called a ______ contract

destination

When a shipper is responsible for the goods in a contract only until it leaves his business, this is called a _________ contract

shipment

In order to have a valid agreement there must be both an ___ and ____

offer and acceptance

List the elements for a valid contract

consideration, agreement, legality, contractual capacity

Under the Statute of Frauds, certain types of contracts must be in writing in order to be enforceable. List the 5 types of contracts discussed.

pre nup, sales over $500, selling of land/real estate, if the contract cannot be fulfilled in a year , and contracts involving paying another person’s debt

A truck load of oranges are

fungible goods

list the four types of damages available

nominal, punitive, compensatory, consequential