Biz Law Vocab Final.

all da stuff

ad substantiation

required. must have a reasonable basis for claims in advertisements

cease and desist order

Require the company to stop an illegal behavior.

bait and switch ads

advertise for a cheap thing primarily, then tell all the reasons why not to buy it and buy the more expensive good instead. Prohibited

consent order

company agrees to stop the disputed behavior but does not admit that it broke the law.

corrective advertising

make a response ad for one that was previously deceptive. explicitly state previous ads were untrue.

deceptive advertising

prohibited. Ads can’t contain material misrepresentation that is likely to mislead a reasonable customer

half truth

information is true but incomplete. deceptive to consumer. makes a deceptive claim.

industry guides

interpretations of consumer law to encourage biz from doing unlawful activities.

multiple product orders

form of cease and desist order the misleading product and other products.

puffing

permitted. advertisers can exaggerate if it obvious.

FTC

Federal trade commission. Consumer law.

criteria pollutants

6 of them. Carbon monoxide, lead, nitrogen oxide, sulfur dioxide, ozone, suspended particles.

under the clean air act.

environmental impact statement

EIS. must be filed for every federal legislative proposal or agency action that is major and requires many resources and that would have an impact on quality of human environment

green taxes

tax on environmentally harmful activities to discourage people from making or using. “polluter and user pay”

manifests

a form that is required for people that generate waste to fill out an use that explains the hazardous waste- what kind it is, how to transport it, how to dispose of it.

nuisance

arises when a person uses their property in a way that interferes with the use or enjoyment of someone else’s land,

affiliate

aka foreign subsidiaries. a biz that is locatred in one state but owned and controlled by a company in another state.

arbitration

ADR by private non official person selected by parties.

bilateral free trade agreement

relate to trade between 2 states. US has several.

choice of law clause

lets the parties decide what law/interpretation they want to use to settle the dispute. generally enforceable

comparative law

study of legal systems of different states

convention of contracts for the international sale of goods

CISG. applies to commercial sale of goods. exchange of tangible property in return for consideration

dispute settlement understanding

allows members of WTO to bring a action alleging a violation

distributor

purchase foreign goods from sellers for resale in foreign markets. responsible for the products they sell, unlike sales reps.

dumping

exporter selling for less than the price of a same or comparable good in the domestic market.

foreign corrupt practices act

FCPA. prohibits bribes to foreign gov officials.

foreign sales representative

agent who distributes/ represents or sells goods on behalf of a foreign seller an forwards orders to the company.

foreign subsidiary

aka affiliate. a biz that is locatred in one state but owned and controlled by a company in another state.

forum selection agreement

allows parties to choose where disputes will be resolved

franchise agreement

contract where a company (Franchisor) grants a license to a foreign entity to utilize the franchisors name in their market.

freetrade agreement

3+ states agree to reduce or eliminate barriers of trade with each other

General Agreement on tariffs and trade

GATT. a trading system designed to minimize tariffs and remove artificial trading barriers

general personal jurisdiction

permits adjudication of claims against defendent regardless of whether the claim has anything to do with the forum, location where the claim is filed.

Hague evidence convention

convention that establishes procedures for transnational discovery between private persons in different states.

international law

governs conduct of states and interrnational organizations

joint venture

parties involve share profits and management responsibilities for a specific project. created for specific business undertaking

Jurisdiction

power to hear case and resolve a dispute

lex mercatoria

law of merchants. body of customs used to develop biz transactions. sources are public law, uniform law, general principles of contract law.

licensing agreement

foreign company grants license to the licensee to use intellectual property in return for loyalty payments.

National treatment

article 3. can’t tax imported goods differently from domestic products.

New York Convention

international agreement governing the arbitration of private international disputes

nontariff barrier

any impediment to trade that isn’t a tariff

normal trade relations

need to treat goods coming from other places equally.

North American Free trade agreement

US Canada Mexico. multilateral. reduce trade barriers between the three. ensure free flow of capital.

Personal jurisdiction

power of the court over the persons appearing before it

quantitative restriction

prohibition of limiting importation of goods on basis of quantitative characteristics.

specific personal jurisdiction

defendant must have purposefully availed itself if the protections of the forum and the selcted forum must be reasonable.

subject-matter jurisdiction

power over the type of case (civil, criminal, probate, domestic relations) or amount of money at issue

subsidy

government payment to an industry or enterprise.

tariff

a taxes levied on imported goods

venue

where litigation occurs. proper venue is the court where subject matter and personal jurisdiction are in most appropriate geographic location. (biz law in delaware)

World trade organization

(WTO) established by the Uruguay Round. Facilitates international cooperation in operating markets and provides a forum for future trade negotiations and settlement of international disputes. 164 states.

actus reus

wrongful behavior

affirmative defense

excuses for unlawful behavior

arraignment

defendant appears in court to answer the indictment

arrest

beginning of criminal proceedings

arson

intentional burning of another’s property

bail

dollar amount Defendents pay court on release of custody as security that they will return for trial.

bench trial

defendant waives right to trial judge hears case and acts as fact finder.

booking

after arrest and miranda rights. procedure where name and crimes are recorded for records.

bribery

white collar crime. offering giving, soliciting, or receiving money for the purpose of influencing judgement.

burden of proof

prosecutor has. 2 elements. to meet burden of production of evidence and to meet burden of persuasion,

burglary

entering building with intent to commit a felony

computer crime

wrongful act that is directed against coputers, uses computers to commit the crime, or involves computers.

cyber terrorist

hacker who intends to exploit ot target a computer or networkto create a serious impact.

duress

defense. threat of serious bodily harm/ loss of life. immediate and inescapable.

embezzlement

when a person is in charge of assets and then they convert those assets to their own for their own use. stealing assets.

embezzelor is lawfully trusted. thats how its dof from larceny.

entrapment

defense. idea for crime originated with a police officer or other government official. suggestion to commit crime from them.

extortion

blackmail. white collar crime

false pretenses

type of fraud. illegal obtaining of property belonging to another through false representations of fact with knowledge of falsity and intent to defraud

felony

serious crimes

first appearance

after booking. before magistrate. determine if there is probable cause for arrest. if not they are free to go.

forgery

fraudulent making or altering of any writing in a way that changes the legal rights and labilities of another.

fraud

use misrepresentation to gain advantage

hacker

person who illegally accesses a computer system to obtain information or steal money

indictment

after information. written accusation against defendant.

infant

anyone under the age of the majority/legal adult

information

for misdemeanor. a formal written accusation stating the facts and specifing violation of the law

insanity

mental condition impiared that they can’t understand the wrongful nature or distinguish between right and wrong.

insider trading

buying and selling of a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic info about the security

involuntary intoxication

forced to consume an intoxicating agent

justifiable use of force

defense. Self defense.

larceny

secretive an wrongful taking and carrying away of property with intent to deprive owner for forever

liability without fault

aka strict liability. action is prohibited.

mens rea

guilty mind

miranda rights

supreme court requirement that arrested individual knows their rights upon arrest. silent, what you say can be used against you, get a lawyer.

misdemeanor

step below felony. prison less than a year

mistake of fact

defense. proves that an honest mistake was made

necessity

defense. did a crime to prevent a bigger/worse one from occuring.

nolo contendere

not admitting guilty but not agreeing to the charges.

petit jury

fact finding jury

petty offense

least serious. prison less than 6mo

plea bargain

an agreement where the prosecutor agrees to reduce charges, drop charges or recommend certain sentence.

Benefits both parties. prosection saves time and resources. defendent gets less jail.

probable cause

liklihood that suspect planned to or committed a crime.

robbery

crime facing biz. forceful taking of property

strict liability

aka liability without fault. action is specifically prohibited.

strict liability offense

offenses that don’t require a state of mind.

virus

computer program that rearranges, damages, destroys, or replaces computer data

White collar crime

nonviolent illegal acts against society that occur in biz setting

copyright

protects the expression of creative ideas- books, periodicals..