Business Law Clep

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Business Law Clep
2011-12-25 18:09:33
Clep business law

Study notes for clep test of business law tip course
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  1. What is law?
    Rule established by a controlling body that members must obey
  2. What is a legal system?
    Established laws.
  3. Common law
    Judge makes a decision on a case by case basis this decision generates new rules
  4. Where did the common law begin.
  5. Sir William Blackstone
    Published what is considered to be the most comprehensive history of common law
  6. What was Sir William Blackstone commentaries entitled
    Commentaries on the law of England
  7. Named other countries colonized by England that use English common law
    Australia Canada New Zealand
  8. Named countries with several law systems
    France Spain Germany Latin America
  9. What is precident
    The common law systems where judges make decisions consistent with past decisions
  10. Precedent
    Previous decisions
  11. Stare decisis
    Judges must make decisions on precedents
  12. What are some sources of the law
    Federal constitution state constitution Federal statutes state statutes local statutes
  13. What are the three branches of gov't established by the U.S. constitution
    • Article 1-legislative branch
    • Article 2-executive branch
    • Article 3-judicial branch
  14. Congress is what branch?
  15. The Federal legislature is divided into what to branches?
    Senate-house of representatives
  16. What branch is responsible for making laws?
  17. What is Congress?
    Members of the legislature acting as representatives of the people.
  18. Who is a part of the executive branch?
    The president, the vice president, other executives officers
  19. What is the primary responsibility of the president
    To enforce laws
  20. Congress is authorized to establish inferior Federal courts through which article in the constitution?
    Article I
  21. What is the supreme court?
    A court that consist of nine justices appointed by the president with the advice and consensus of the senate
  22. What does the judiciary do?
    Interpret the law
  23. And what is judicial review
    Judicial review gives courts the ability to declare the Federal or state law unconstitutional
  24. What are checks and balances?
    Each branch of government has specific authority and can balance out the power of other branches of government.
  25. How many constitutional amendments do we have to day?
  26. What are the bill of rights?
    The first 10 amendments of the constitution
  27. What does the bill of rights protect?
    Protecting from a gov't intrusion and preventing gov't from making laws that interfere in certain fundamental rights
  28. What freedoms does the bill of rights project?
    Freedom of speech, freedom of religion, freedom from cruel and unusual punishment, write to a jury trial, slavery, women voting, limiting president to two terms in office
  29. What is federalism?
    Federalism the states and the Federal government share the power of governing
  30. What is the supremacy clause
    The cannot violate the Federal constitution or Federal law
  31. What is an ordinance?
    Laws passed by local governments, city councils, or county boards
  32. What are uniform laws?
    Laws established by a group of experts seeking to create uniform legislation on a given topic
  33. What is the uniform commercial code?
    This provides for legislation concerning various aspects of commercial law
  34. The first amendment states what? The
    • No laws respecting the establishment of a religion.
    • No laws preventing free exercise of religion.
    • No laws preventing the freedom of speech.
    • No laws preventing the freedom of the press
    • No laws preventing the right of the people to peaceably assemble
    • Allows for petition of the government for redress of a grievance
  35. What is due process?
    No person shall be deprived of life and liberty or property without due process.
  36. The fifth amendment?
    The government cannot take the property of any individual without just compensation
  37. What are takings?
    The fifth amendment restricts the government from taking the property of an individual without just compensation
  38. What is equal protection?
    A shall deny any person " the equal protection of the laws"
  39. What is a suspect classification?
    Classification based on race, religion, national origin.
  40. What is quasi suspect classification?
  41. What is criminal law?
    Crimes against the state and society
  42. What is civil law?
    Law that regulate relationships between parties
  43. How many district court's(Federal trial courts) are there in the United States?
  44. What is the Federal circuit court of appeals?
    If appeals the district court's decision she can bring a case to the appeals or Appellate Court.
  45. What is writ of certiorari?
    A petition to have the Supreme Court here your case
  46. How many justices have to agree to hear a case?
  47. The court of original jurisdiction?
    The first court to hear a case
  48. What is Appellate jurisdiction?
    Jurisdiction of an Appellate Court to hear a case from a lower court.
  49. Note: Appellate courts
    Appellate courts are limited to reviewing a firming advising or modifying decisions of the lower courts they do not conduct trials
  50. Federal rules of civil procedures
    Govern the procedures for filing a civil suit in Federal Court makes
  51. Remand
    The will send the case back to the lower court for a new trial so that the lower court can take other actions consistent with the Appellate court's finding
  52. de novo
    Means new and does not deferred to the lower court's judgment
  53. Federal rules of civil procedures
    Govern up the the procedures for filing civil suit in Federal Court
  54. Standing
    The legal right to bring a suit
  55. Injury in fact
    Must recognized injury or loss
  56. Plaintiff
    In a civil lawsuit the person who brings be suit
  57. Defendant
    The person who is being sued
  58. Pleadings
    The the documents parties filed in connection with a lawsuit
  59. Summons
    The notice that states a lawsuit has been filed against a defendant
  60. Answer
    The defendants response to a complaint
  61. Motion
    A request for the court to take some action
  62. Demurrer
    A motion to dismiss the case because the plaintiff complaint does not establish a legal basis for any remedy against the defendant
  63. Motion for more definitive statement
    When pleadings are they vague or ambiguous
  64. Res judicata
    Prevents the parties from RE litigating the same action
  65. Indictment
    Written charges against a defendant to with a grand jury
  66. Grand jury
    A group of 16 to 23 jurors that whom decided whether there is sufficient evidence to charge the defendant with a crime
  67. Writ habeous corpus
    Represents the defendant's request for a new proceeding to determine if she is being unlawfully deprived a liberty
  68. Federal question jurisdiction
    Refers to court's power to hear cases arising under the constitution Federal laws or U.S. treaties
  69. Diversity jurisdiction
    Refers to the court's ability to hear cases where the parties are diverse
  70. State courts have a ---- jurisdiction
    Broad subject matter
  71. Personal jurisdiction
    Power over a particular party in a case
  72. Domicile
    State of current residency
  73. Express Contract
    a promise stated in words written or oral
  74. Goods
    All things that are movable at the time of the contract
  75. Implied Contract
    a promise inferred from a persons conduct or circumstances
  76. Promise
    a commitment to act or not act in the future
  77. executed exchange
    purchase is made money exchanged and good is exchanged
  78. promisor
    person making a promise
  79. quasi contract
    a transaction that creates a basis for recovery for one who is unfairly benefited
  80. implied in law
    no contract formed but courts will use transaction as basis of recovery to prevent injustice
  81. Mutual Assent
    each party in the contract must agree to be bound by a given exchange
  82. objective standard
    the courts determine intent by analyzing how a reasonable person would interpret the conduct of the parties.
  83. subjective intent
  84. Termination of offer by Time Lapse
    if offer indicates it will be terminated within certain time, once that time passes the offer is terminated
  85. Termination of offer by Death or Mental capacity
    If an offerer dies prior to the time that an offer is accepted the offer is terminated
  86. Termination of offer by mental capacity
    If an offeror is is deemed to be mentally incompetent after an offer is made then the offer is terminated.
  87. Once acceptance occurs an offerors -------- or ---------- does not negate the contract.
    • death
    • mental capacity
  88. Revocation of offer by indirect means: If Bob offers to sell house to Grant the offer would be revoked if:
    Grant discovered that the house had been sold before he accepted. If Grant does not discover the house has been sold then the offer is still valid. This would be a breach of contract because Bob never let Grant know his intent to sell the house to someone else. pg 37
  89. Offers may not be revoked if:
    • Offeree has paid to keep the offer open
    • Offerer has agreed to keep the offer open
    • Offeree has begun to execute performance on the contract
  90. Revocation: If Bob offers to pay Bill 100.00 to paint his house. Bob ------------ change his mind once Bill has ------------- painting
    • cannot
    • started
  91. Termination by rejection
    Rejection terminates the offer and once it is rejected he cannot attempt to later accept it.
  92. Termination by counteroffer
    A counter offer is both a rejecton of a original offer and a new offer. This terminates the original offer.
  93. Acceptance of offer
    When offeree reveals his agreement to comply with thte terms of the offer. Only the person invited to accept the offer can accept.
  94. Offer: Mirror Image rule
    any response by the offeree that changed the terms of the agreement (even slightly) "is" a rejection
  95. Offer: Mailbox Rule
    An acceptance "Only" of an offer is effective when it is "mailed". Same in emails and faxes. Offer is accepted once it has been sent.
  96. A rejection is effective:
    Once it has been received.
  97. Counteroffer (which is also a rejection) is only affective once it has been -------------
  98. Peremptory Challenge
    gives the attorneys of each side the right to reject potential jurors without reason. The number is usually limited to around three.
  99. Liquidated damage clauses
    Liquidated damage clauses are supposed to reflect actual cost of damages due to breach of contract--they may not be enforced if they are found to be unreasonable.
  100. Direct Examination
    Direct Examination occurs first after a witness is called to the stand. Then the opposing attorney gets to question the witness in what is known as cross examination.
  101. Summation.
    Summation. During the summation, each attorney reviews the evidence and makes his closing statement to the jury. After the summations, the judge instructs the jury concerning the law that is applicable to the case.
  102. Respondeat Superior
    means an employer is liable for his employee's actions. There are certain limits, but generally, if an employee was doing something he was supposed to do for his job, and causes injury or damage, then he as well as his employer may be liable.
  103. In a ___________ trial, the judge or jury must be convinced by a "preponderance of the evidence."
  104. ___________ ethics states that the rightness of an action entirely depends on the value of its consequences--an action is good if it increases the "total happiness" in the people it affects.
  105. One of the major schools of thought in law is the ___________ Law school, which believes that ethics is the source of legal authority; the principle of this school of thought is that there is a clear right and wrong universal to all human beings, and what is "good" must be done, what is "evil" must be prohibited.
  106. The ________ Law school of legal thought believes in an unchanging law that is the same for all people throughout time; it is not made up by human beings--it is to be discovered through reason.
  107. The Natural Law school of thought believes that law reflects a higher moral purpose or order--bad laws cannot be obeyed or enforced. ____________ Law, however, believes that law is the command of a constituted authority figure, and that even bad laws can be enforced.
  108. The _________ School of legal thought differs from Natural and Positive Law in that it looks at why law exists--it's origin and history, instead of asking "what is law?".
  109. When used for advertising or promotional purposes, flattering, often exaggerated praise and publicity, is known as __________.
  110. Legal realism
    Legal realism sees law as an instrument of social control, and law is good depending on how well it serves society.
  111. The ______th Amendment states that all powers not granted to the federal government are reserved to the States or the People.
  112. The system of ___________ seeks to prevent any one branch of the government from having too much power; an example is the judicial branch has the power to declare laws passed by Congress, the legislative branch, to be unconstitutional
  113. The power of judicial review, which allows the courts to declare federal or state actions to be in violation of the Constitution, was established in the Supreme Court case Marbury v. _____________.