Business Law Unit 2

Two Required Elements of a Crime

Criminal Act & Criminal Intent

Insanity

Criminal defense that the accused did not know the difference between right and wrong when committing the criminal act.

Entrapment

Criminal defense that maintains law enforcement originated the criminal idea or initiated the criminal action.

Self-Defense

Criminal defense that someone believed they (or others) were in imminent danger and had no choice but to use force to protect themselves.

Arrest

The first phase of criminal procedure. Occurs when law enforcement legally deprives someone of their freedom.

Miranda Rights

Rights possessed by persons who are arrested by the police. (Remain silent, Attorney, etc.)

Crime

An illegal act against the public good for which one may be punished by the government

Felony

Most serious crime that is typically punishable by over a year of jail time, fines over $1,000, and (in some cases) the death penalty

Misdemeanor

Less serious crime, usually punishable by fine. May involve jail time, but no more than 1 year.

Infraction

Least serious type of crime. Typically not punishable with jail time.

Bail

A sum of money used as a security deposit to ensure that an accused person returns for his or her trial

Indictment

The formal charge or accusation of a crime

Arraignment

A hearing in which a suspect is charged and pleads guilty or not guilty

Direct Examination

The examination of a witness by the attorney who calls the witness to the stand to testify on behalf of the attorney's client.

Cross Examination

The questioning of an opposing witness during a trial.

Verdict

The decision a jury makes in a trial; the decision said by the jury

Hung Jury

A jury that cannot agree on a verdict

Double Jeopardy

Being tried twice for the same crime (forbidden by the Constitution)

Sentence

The punishment issued to someone found guilty of committing a crime

Interstate Commerce Clause

Section of the Constitution that gives Congress the authority to regulate business across state lines

Federal Bureau of Investigation (FBI)

Federal government's criminal law enforcement agency

Securities & Exchange Commission (SEC)

Responsible for creating and enforcing regulations related to the sale of stocks and other securities

Internal Revenue Service (IRS)

Federal agency responsible for creating and enforcing tax policy

Federal Trade Commission

Federal government agency responsible for regulating monopolies and forms of business collusion

Accessory

Taking actions to help a criminal escape prosecution

Copyright Infringement

Intentionally using or distributing someone else's artwork for your personal gain

Tax Evasion

Using illegal means to avoid paying taxes

Pyramid Scheme

System in which a person recruits others to bring in money on a product by continuously recruiting more people

Money Laundering

Hiding "dirty money" by disguising it as coming from a clean source

Hacking

Unauthorized access to a computer system to steal/alter data

Bribery

Giving money or property to a public official in exchange for a favor

Extortion

Holding items hostage in exchange for money

Larceny

Unlawfully taking another person's property (theft)

Conspiracy

Making an agreement to participate in a crime

Forgery

Placing a false signature on a check or some other document

Phishing

Attempting to deceive another person into giving private information

Fraud

Intentionally lying or deceiving to gain something of value

Insider Trading

Trading securities using information unavailable to the public

Aiding and Abetting

Indirectly assisting in committing a crime

Identity Theft

Using another person's identity to steal from them or commit a crime

Embezzlement

Unlawfully taking or using property that was entrusted to you

Tort

A wrongful act or violation of someone else rights that causes damage and leads to a civil lawsuit.

Tortfeasor

One accused of committing a tort

Remedy

The court order to correct a wrong in a tort case

Damages

A sum of money paid in compensation for loss or injury in a civil case

Punitive Damages

Monetary damages that may be awarded to a plaintiff to punish the defendant and deter similar conduct in the future.

Injunction

A court order to either do something or stop doing something.

Intentional Tort

An act committed against another person with the intent of doing harm

Assault

The threat of doing harm or injury to another person

Battery

Unlawful touching of another person without

Defamation

Slander or libel. A knowingly-false statement that causes damage to another's reputation.

Invasion of Privacy

Violating a person's right not to have their private affairs exposed

Trespass

Entry onto another's property without permission

Conversion

When personal property is taken from the owner and given to someone else to use or changed in a significant manner

Nuisance

An act that interferes with another's enjoyment of their land and property

Disparagement

Telling wrongful information about a piece of property, such as a used vehicle

Duty of Care

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

Negligence Requirements

Duty of Care; Breach of Duty; Damages; Proximate Cause

Breach of Duty

Failure to use the degree of care required under the circumstances

Proximate Cause

Legal cause. It exists when the connection between an act and an injury is strong enough to justify imposing liability.

Strict Liability

The legal responsibility for damage or injury for an especially dangerous act, even if you are not negligent.

Product Liability

The legal liability of manufacturers and sellers of goods to consumers, users, and bystanders for injuries or damages that are caused by the goods.

Contributory Negligence

A legal defense against negligence that may be raised when the defendant feels that the conduct of the plaintiff contributed in any way to the injuries/damages they sustained.

Comparative Negligence

A legal defense against negligence that may be raised if the defendant feels that at least 50% of the liability for injuries/damages could be owed to the plaintiff's own negligence.

Assumption of Risk

A defense against negligence that can be used when the plaintiff was aware of a danger and voluntarily assumed the risk of injury from that danger.

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