Business Law & Ethics BPA

Ethical decisions

Decisions made based on opinions, feelings, the greatest good principle, or the Golden Rule.

Greatest good principle

Making decisions that create the greatest good for the greatest number of people.

Golden Rule

A principle that requires a person to treat others as they would like to be treated.

Ethical character traits

Honesty, justice, compassion, and integrity.

Honesty

Being open and truthful in dealings with others.

Justice

Treating people fairly and equally.

Compassion

Showing sympathy and wanting to help others with their problems.

Integrity

Refusing to compromise values regardless of personal consequences.

Ethics vs

Ethics are subjective and vary from person to person, while laws provide an objective standard of behavior.

Sources of law

Constitution, common law, statutory law, court decisions, and regulatory agencies.

Jurisdiction

The power and authority given to a court to hear a case and make a judgment.

Original jurisdiction

A court that hears a case for the first time.

Appellate jurisdiction

A court that reviews a case on appeal from a lower court.

Limited jurisdiction

Courts that handle minor matters.

General jurisdiction

Courts that have the power to hear most types of cases.

Federal courts

U.S. district courts, U.S. courts of appeals, and the Supreme Court of the United States.

State courts

Local trial courts, courts of general jurisdiction, and appellate courts.

Delinquent juvenile

A child who commits an adult crime.

Unruly child

A minor who has done something that wouldn't be a crime if committed by an adult.

Neglected or abused child

A child without adequate parental care or who is homeless.

Alternate Dispute Resolution (ADR)

Mediation, arbitration, med-arb, early neutral evaluation (ENE), summary jury trial, private civil trial, partnering, settlement week.

Criminal case

Starts with an arrest, defendant's constitutional right to a speedy trial, plaintiff sues defendant for a remedy, district attorney prosecutes on behalf of the government.

Civil trial steps

Jury selection, opening statements, introduction of evidence, closing arguments, jury instructions, jury verdict, court's judgment.

Rights of arrested individuals

Remain silent, call an attorney, have an attorney present when answering questions.

Crimes

Acts against the public good, classified as felonies or misdemeanors.

Felony

Major crime punishable by imprisonment or death.

Misdemeanor

Less serious crime.

Police power

Inherent power of state governments to enact criminal statutes.

Commerce clause

Federal government's power to regulate commerce among the states.

Elements of a crime

Criminal act and required state of mind.

Defenses in criminal cases

Insanity, entrapment, self-defense, defense of family members.

Crimes against people

Murder, manslaughter, assault, battery, kidnapping, sex offenses, domestic violence, hate crimes.

Crimes against property

Burglary, larceny, embezzlement, robbery, arson, vandalism, shoplifting.

Computer crimes

Computer trespass, computer fraud, theft of computer services, destruction of equipment, misuse of computer information.

Tort

A private wrong committed by one person against another.

Intentional torts

Assault, battery, trespass, nuisance, false imprisonment, defamation, invasion of privacy.

Negligence

Four elements - duty of care, breach of duty, proximate cause, actual harm.

Affirmative defenses to negligence

Contributory negligence, comparative negligence, assumption of risk.

Strict liability

Liability for injury or damage regardless of intent or care.

Contract

An agreement enforceable by law.

Elements of a contract

Offer, acceptance, genuine agreement, consideration, capacity, legality.

Offer

A proposal by one party to another intended to create a contract.

Acceptance

Unqualified willingness to go along with the offer.

Genuine agreement

Valid offer met by a valid acceptance.

Capacity

Legal ability to enter a contract.

Consideration

Exchange of things of value.

Legality

Contract must not require illegal acts.

Valid contracts

Legally binding contracts.

Void contract

A contract that has no legal effect because one of the elements of a contract is missing.

Voidable contract

A contract that is not void, but may be voided by one of the parties due to some defect.

Unenforceable contract

A contract that cannot be enforced due to some rule of law, such as the statute of limitations.

Express contract

A contract that is stated in words, either written or oral.

Implied contract

A contract that is implied from the actions of the parties.

Bilateral contract

A contract formed by promises that each party makes to the other.

Unilateral contract

A contract that contains one party's promise that will be fulfilled if and when the other party performs an act.

Oral contract

A contract created when a party promises something by speaking and the other party responds with a spoken promise.

Written contract

A contract in which the promises are in writing.

Offer

A proposal by one party to another party to enter a contract.

Acceptance

The act of agreeing to the terms of an offer.

Invitation to negotiate

An invitation that may look like an offer, but is not.

Revocation

The termination of an offer by the offeror.

Rejection

The refusal to accept an offer by the offeree.

Counteroffer

A response to an offer that changes its terms.

Fraud

Deliberate deception to secure an unfair or unlawful gain.

Misrepresentation

An innocent statement of supposed fact that turns out to be false.

Concealment

Keeping silent about a material fact of which the other party has no knowledge.

Disaffirm

The right of a minor to show the intent not to live up to a contract.

Ratify

To approve or confirm a contract made as a minor when reaching the age of majority.

Duress

Overcoming a person's will by using force or threat of force.

Undue influence

Unfair and improper persuasive pressure used to force someone into entering a contract.

Consideration

The exchange of benefits and detriments between parties to an agreement.

Benefit

Something that a party was not previously entitled to receive.

Detriment

A loss suffered by a party.

Promissory estoppel

Enforcing a promise based on the doctrine of fairness, even without consideration.

Illusory promise

A promise that does not actually bind the promisor.

Past consideration

Consideration given for a promise or act that took place in the past.

Legality

The requirement that a contract must not involve an agreement to do something that violates statutory law or public policy.

License

A legal document granting permission to engage in a specific trade or profession.

Licensing laws

Laws designed to protect the public by requiring certain trades or professions to be licensed.

Restraint of trade

A limitation on the full exercise of doing business with others.

Parol evidence rule

Presumption that all the terms of a contract are within the written document.

Reasonable time

The suitable, fair, and proper time for completing a contract.

Satisfactory performance

Completion of a service that a reasonable person would deem performed to their satisfaction.

Assignment

The transfer of a right under a contract from one party to another.

Novation

An agreement where an original party to a contract is replaced by a new party with the agreement of all involved parties.

Privity of contract

The binding relationship between parties to a contract.

Anticipatory breach

A breach of contract that occurs when one party notifies the other before the time of performance that they will not perform.

Specific performance

An equitable remedy where the court orders the breaching party to fulfill their contractual obligations.

Mitigation

The principle that the innocent party must try to minimize damages resulting from the other party's failure to perform.

Sale of goods

The transfer of ownership of goods from a seller to a buyer for consideration.

Firm offer

An offer to buy or sell goods that is irrevocable for a specified period of time.

Risk of loss

The responsibility for loss or damage to goods.

Breach of Sales Contract

When a buyer or seller fails to fulfill their obligations under a sales contract, resulting in a breach of contract.

Express Warranty

An oral or written statement, promise, or representation made by a manufacturer or seller about the quality, ability, or performance of a product.

Implied Warranty

A warranty that is not explicitly stated but is implied by law, such as the warranty of fitness for a particular purpose or the warranty of merchantability.

Magnuson-Moss Warranty Act

A federal act that requires merchants to label written warranties as either "full" or "limited" for consumer products costing more than $10.

Fraudulent Misrepresentation

A false statement about a product's construction, durability, reliability, safety, strength, condition, or life expectancy, made with the intent to deceive.

Bait and Switch Advertising

A deceptive sales tactic where a store advertises nonexistent bargains to attract customers and then tries to sell them more expensive goods.

Lemon Law

A law that provides protection to consumers who purchase defective vehicles, allowing them to seek remedies or compensation from the seller.

Financial Responsibility Law

A law that requires individuals to have insurance coverage to protect against injury or damage resulting from a motor vehicle accident.