Study Plan: The Legal Environment

actual causation

breach of duty of care caused the harm; except for the breach

antitrust legislation

laws that create and maintain a competitive market that results in lower prices

breach

failing to meet the duty of care

breach of contract

when one party to a contract fails to fulfill the terms of the agreement and has no legal excuse for failing to act

common law

law made through judicial rulings

compensatory damages

compensates for the wrong and restores the plaintiff to their original position

consideration

exchange of value

contract

an agreement between parties that contains details about the performance of a specified action that is enforceable by law

copyright

gives creators of literary

damages

monetary payment to correct a wrong

damage

the injury or other loss caused by the breach of duty of care

design defect

the manufacturer’s design is inherently dangerous or defective

design patent

are based on an item’s appearance and prevent unauthorized use of a product design or design element

duty of care

legal responsibility to another person

equity and inclusion

demonstrating the awareness and ability to respectfully engage and include people from different local and global cultures while also actively challenging the systems and policies that are unfairly exclusionary

express contract

specifies the terms of the agreement in either written or spoken words

express warranty

are specific statements of fact or promises about a product by the seller

failure to warn defect

the manufacturer or seller failed to provide adequate instructions regarding the product’s use or warn the buyer of the potential danger of misuse

implied contract

depends on the acts and conduct of the parties to show agreement

implied warranty

guarantees are imposed on sales transactions by statute or court decision

intellectual property

an intangible asset

intentional tort

a wrongful act that is deliberately done and causes harm

laws

the rules of conduct created and enforced by a controlling authority

legal capacity

to enter into a contract

legality

the purpose of a contract must be legal

manufacturing defect

the defect results from a failure in the manufacturing and/or quality control process

negligence

a wrong that occurs when reasonable care is not taken for the safety of others

offer and acceptance

one side proposes details and the other agrees

patent

gives the holder of the patent the exclusive right to the invention for a limited period of time

payment of damages

money awarded to the party who was harmed by the breach of contract

plant patent

protects new varieties of plants

precedence

requires judges to decide a dispute based on previous decisions in cases with similar facts

product liability

manufacturers’ and sellers’ responsibility for defects in the products they make and sell

proximate causation

the harm caused by the breach of duty of care is foreseeable

punitive damages

awarded in cases where the defendant’s actions were so unacceptable that the additional payment is meant to deter the defendant from repeating the actions in the future

restitution

canceling the contract and returning to the situation that existed before the contract

service mark

a trademark that represents a service rather than goods

specific performance

a court order requiring the breaching party to perform the duties under the terms of the contract

statutory law

laws that come from the legislative branch of the government

strict liability

a manufacturer or seller having responsibility for harm solely because the product or activity is ultrahazardous

tort

an act that harms other people or their property where the victim may sue to recover damages for the harm

trademarks

any word

utility patent

protects how inventions work whether they are processes

warranty

a promise that goods sold will meet certain standards