Legal - 3

Card Set Information

Legal - 3
2012-12-06 21:12:31
Legal Terms

Page 4
Show Answers:

  1. Sunset Laws
    Laws to cause an agency to close or stop existing.  Example cutting off funding.
  2. Sunshine Laws
    Provisions that agencies will have records open and will be transparent and available to the public.
  3. Informal rulemaking
    Federal Register. (newspaper in DC) Propose regulations and wait for input for 30 days
  4. Administrative law
    Rules and regulations and agency tribunals that hear apeals created to allow an agency to do its job.
  5. Ultra Vires
    • The doctrine in the law of corporations that holds that if a corporation enters into a contract that is beyond the scope of its corporate powers, the contract is illegal. The doctrine of ultra vires played an important role in the development of corporate powers. Though largely obsolete in modern private corporation law, the
    • doctrine remains in full force for government entities. An ultra vires act is one beyond the purposes or powers of a corporation. The earliest legal view was that such acts were void. Under this approach a corporation was formed only for limited purposes and could do only what it was authorized to do in its corporate charter.
  6. International Law
    Law based on treaties, conventions and customs. Multilaterial. WTO, NAFTA. Must submit to jursidiction. Law that governs relations among nations.
  7. Act of State Doctrine
    US Courts should acept the right to set offical acts. A doctrine pproviding that hte judicial brance of ones country will not examine the validity of public acts committed by a recognized foreign government within its own territory.
  8. Soverign Immunity
    Idea you cant sue when government is exercising its governmental duty.
  9. Theory of Competitive Advantage
    • Competitive advantage theory suggests that states and businesses should pursue policies that create high-quality goods to sell at high prices in the market. Porter emphasizes productivity growth as the focus of
    • national strategies. Competitive advantage rests on the notion that cheap labor is ubiquitous and natural resources are not necessary for a good economy. Free trade is a good thing. Trade is good.
  10. Letter of Credit
    Process of international trade. A wtitten instruent usually issued by a bank on behalf of a customer in which the issuer promises to honor drafts or other demands by payement by third persons in accordance with the terms of the instrument.
  11. Correspondent Bank
    Ban in far city with relationship with your bank
  12. Bill of Lading
    Contract for the transport of goods.
  13. Foreign Sovereign immunities act
    US Law that that establishes the limitations as to whether a foreign sovereign nation (or its political subdivisions, agencies, or instrumentalities) may be sued in U.S. courts—federal or state
  14. Quotas
    Limit on import of certain products...part of protectionism.
  15. Tariffs
    Special taxes on income and imported  goods part of protectionism.
  16. NAFTA
    The North American Free Trade Agreement (NAFTA) is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994. It superseded the Canada – United States Free Trade Agreement between the U.S. and Canada.
  17. Grey Market Goods
    United States manufacturers often find themselves in the unlikely position of competing against their own goods imported from abroad.These competing products are called grey-market goods. Grey-market goods are products sold in the United States that were lawfully produced here or elsewhere, which the manufacturer did not intend for sale in the U.S. market. Three distinct scenarios are the most common sources of parallel imports.

    The primary distinguishing features of a grey market sale are low price combinedwith the fact that the seller is not authorized to sell the merchandise inquestion in the U.S. Health and safety problems are additional areas of concerns.
  18. Repatriation
    The term may also refer to the process of converting a foreign currency into the currency of one's own country.[
  19. Comity
    the principal by which one nation defers and gives effect to the laws and judicial decrees of another nation. This recognition is based primarily on respect.
  20. Uniform Commerical Code
    general and inclusive group of laws adopted, at least partially, by all the states to further uniformity and fair dealing in business and commercial transactions. Adopted by all states. Provides uniform, yet fleible set of rules governing commercial transactions.
  21. Offer
    a promiis or comitment to perform or refrain from performing some specific act in the future.
  22. Acceptance
    a voluntary act by the offerie that shows assent or agreement to the terms of an offer: may consist of words or conduct.
  23. contract Option
  24. Illusory Contract
  25. objective Theroy of Contract
  26. Express Contract
    Formed by words, oral written or a combination
  27. Consideration
    Generally, the value given in return for a promise. the consideration must be something of leagally sufficient value and there must be a bargined for exchange.
  28. Impled in fact Contract
    formed at least in part by the conduct of the parties.
  29. Implied in Lay Contract
  30. Void Contract
    A contract that has no legal force or binding effect. Treated as if the contract never existed
  31. voidable Contract
    A contract that may be legally canceled at the option of one or both of the parties.
  32. Unenforceable Contract
    A valid contract rendered unenforcable by some statue or legal defense.
  33. Contract Ratification
    The confirmation or adoption of an act that has already been performed. Ratification is a principal's approval of an act of its agent where the agent lacked authority to legally bind the principal. The term applies to private contract law, international treaties, and constitutionals in federations such as the United States and Canada.
  34. Contract Rescission
    rescission has been defined as the unmaking of a contract between parties.[1] Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract
  35. Executed and Excutory Contract
    A fully performed contract, a contract not yet fully performed.
  36. Statute of Frauds
    a state statute under which certain types of contracts must be in writing to be enforcable.
  37. Contractual Capacity
    both parties entering into the contract must have the contracutal capacity to do so. the law must recognize them as pessessing characteristics that qualify them as competent parties.
  38. Defamation
    anything published or publically spoken that causes injury to anothers good name reputatino or charactor.
  39. Slander
    Defamatino in Oral Form
  40. Libel
    Defamation in writing or other form such as digital recording, having the qulity of permanance.
  41. Intentional Tort
    a wrongful act knowingly Civil liability
  42. False Imprisonment
    ulnlawful restraint or confinment of another person without justification. interfears with the persons freedom to move without restraint.
  43. Tresspass to land
    Tresspass to land - the entry onto above or below the surface of land owned by another without the owners permission or legal authorization.
  44. Reasonable Care
    he degree of caution and concern for the safety of himself/herself and others an ordinarily prudent and rational person would use in the circumstances. This is a subjective test of determining if a person is negligent, meaning he/she did not exercise reasonable care.
  45. Contributory Negligence
    A rule in Tort Law that completly bars the plaintif from recovering any damages if the damage suffered is partly the plaintifs own fault. used in a minority of states.
  46. Assumption of Risk
    A doctrine under which a plaintif may not recover for injuries or damages sufferd from risks he or she knows of and has voluntairally assumed. the user or consumer knew of the risk and voluntairly assumed it.
  47. Res Ipsa Loquitor
    A doctrine under which negligence may be inferred simply becuase an event occured, if it is the type of event that would never occur in the absense of negligence. literally the term means the facts speack for themselves.
  48. tresspass to personal property -
    the unlawful taking or harming of anothers personal property. interfearance with anothers right to the exclusive posession of his or her personal property.
  49. Fraud
    • Tort - Intentionally
    • misrepresenting a material fact.
  50. Wrongful Interferenc with contractual relations
    • Contract has to exist. Intentional Tort. The
    • party knows it exists. And still tries to get them to break the contract.
  51. Strict Liability
    3 kinds of tort liablility. Strict liability is a tort for really dangerous products. Selling dynamite. Society telling in advance to figure lawsuits into your price. Product on which there is really no neglegent, but it is defective in its design. Ultrahazardous activites.