Term
|
Definition
| a body of principles organized to protect, enforce, and govern conduct |
|
|
Term
|
Definition
1. Statutory law
2. case law
3. constitutions |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| "let the decision stand," the principle that the decision of a court should serve as a guide or precedent and control the decision of a similar case in the future. |
|
|
Term
|
Definition
| the authority of a court to hear and decide cases |
|
|
Term
| 3 ways to break up jurisdiction |
|
Definition
1. original vs. appellete
2. general vs. special
3. subject matter : civil or criminal |
|
|
Term
|
Definition
| the aettlement of disputed questions, whether of law or fact, by one or more arbitrators by whose decision the parties agree to be bound. |
|
|
Term
|
Definition
| the settlement of a dispute through the use of a messenger who carries to each side of the dispute the issues and offers in the case |
|
|
Term
|
Definition
| violation of the law that is punished as an offense against the state or government |
|
|
Term
|
Definition
| the collective voice of society |
|
|
Term
| victim of a crime can sue for? |
|
Definition
|
|
Term
| 2 categories of crime and sentence |
|
Definition
1. misdemeaner - less than one year
2. felony - year or more |
|
|
Term
|
Definition
| civil wrong that intereferes with one's property or person. |
|
|
Term
|
Definition
| tort in which a third party interferes with others freedom to contract |
|
|
Term
|
Definition
1. intentional tort
2. neglignce
3. strict liability |
|
|
Term
|
Definition
| civil wrong that results from intentional conduct |
|
|
Term
|
Definition
| failure to exercise due care under the circumstances in consequence of which harm is proximatelh caused to one to whom the defendant owed a duty to exercise due care. |
|
|
Term
|
Definition
| civil wrong for which there is absolute liability because of the inherent danger in the underlying activity, for example, the use of explosives. |
|
|
Term
|
Definition
1. duty
2. breach of duty
3. causation
4. damages |
|
|
Term
|
Definition
|
|
Term
|
Definition
1. contributory negligence
2. comparative negligence
3. assumption of the risk
4. immunity |
|
|
Term
|
Definition
| an agreement based on the genuine assent of the parties |
|
|
Term
|
Definition
1. offer
2. acceptance
3. consideration
4. legal capacity
5. legal subject matter |
|
|
Term
|
Definition
1. promisor
2. promisee
3. obligor
4. obligee |
|
|
Term
|
Definition
| parties to a contractual agreement and their relationship. |
|
|
Term
| acceptance turns an offer into a? |
|
Definition
|
|
Term
|
Definition
1. formal contracts
2. informal (simple) contracts
3. express contracts
4. implied contracts
5. valid contracts
6. voidable contracts |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| hold an offer to make a contract open for a fixed period of time |
|
|
Term
|
Definition
| right of a party to meet terms of a proposed contract before it is executed. |
|
|
Term
|
Definition
court-imposed obligation to prevent unjust enrichment in the absence of a contract.
a) prevention of unjust enrichment
b) extent of recovery |
|
|
Term
|
Definition
| expression of willingness to enter into a contractual agreement |
|
|
Term
| requirements for an offer |
|
Definition
1. certainty
2. communication
3. contractual intent |
|
|
Term
|
Definition
A1. revocation
2. counter offer
3. rejection of offer by offeree
4. lapse of time
5. death or disability of either party |
|
|
Term
|
Definition
| unqualified assent to the act or proposal of another. must be: absolute, complete, and unconditional. |
|
|
Term
|
Definition
| acceptance as soon as dispatched even before received by offeror. |
|
|
Term
|
Definition
| ordinarily effective only when it is made known to the offeree. Until it is communicated to the offeree, directly or indirectly, the offeree has reason to believe that there is still an offer that may be accepted. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| the ability to understand that a contract is being made and to understand its general meaning |
|
|
Term
|
Definition
| contrasts with incapacity imposed because of the class or group to which a person belongs. |
|
|
Term
|
Definition
| may make contracts under 18 |
|
|
Term
|
Definition
|
|
Term
| Minors power to avoid contracts |
|
Definition
| may affirm or ratify the contract by approving or allowing reasonable lapse of time without avoiding it. |
|
|
Term
| What constitutes avoidance? |
|
Definition
| may avoid or disaffirm a contract by any expression of an intention to repudiate the contract. |
|
|
Term
|
Definition
| only during minority and for a reasonable time after attaining majority. After lapse of reasonable time, contract is deemed ratified and cannot be avoided. |
|
|
Term
| Minors misrepresentation of age |
|
Definition
| the other party may disaffirm it because of minors fraud, however, the misrepresentation does not affect the choice of disaffirmation. |
|
|
Term
| Restitution by minor after avoidance |
|
Definition
| when minor disaffirms, question arises what minor must return to other contracting party. |
|
|
Term
| original consideration intact |
|
Definition
| minor must put things back to original position - status quo ante |
|
|
Term
| original consideration damaged or destroyed |
|
Definition
| minor can refuse to pay for what's recaived under contract even damaged or destroyed |
|
|
Term
| Ratification of former minor's voidable contract |
|
Definition
| a former minor cannot disaffirm a contract that has been ratified after reaching majority. |
|
|
Term
|
Definition
| validity of a contract may be affected by the fact that one or both of the parties made a mistake. |
|
|
Term
|
Definition
| a mistake by only one of the parties-as to a fact does not affect the contract when mistake is unknown to the other contracting party. the party making the mistake may avoid the contract if contracting party knew or should have known mistake. |
|
|
Term
|
Definition
| when both parties enter into a contract under a mutually mistaken understanding concerning a basic assumption of fact or law on which contract was made. |
|
|
Term
|
Definition
false statement of material fact made 1. with knowledge that it's false
2.the intent that listener rely on it
3. the result listener relies on it
4. the consequence that the listener is harmed. |
|
|
Term
| Statements of opinion or value |
|
Definition
| statements of opinion are not fraudulent when talking about something unknown. However, when knowledfge of past events make statements fraud/false is. |
|
|
Term
|
Definition
| a fraudulent statement made by one party has no imprtance unless the other party relies on the statement's truth. |
|
|
Term
|
Definition
| to recover damages for fraud, proof of harm to that individual is required. |
|
|
Term
|
Definition
|
|
Term
| General rule of nonliability |
|
Definition
| party to a contract has no duty to colunteer info to the other party. |
|
|
Term
|
Definition
| asserted upon another person by one who dominates that person. |
|
|
Term
|
Definition
| deprives victim of free will and generally gives the victim right to set aside any transaction |
|
|
Term
|
Definition
| threat of physical harm to person or property. |
|
|
Term
|
Definition
|
|
Term
| one of the elements needed to make an agreement binding is? |
|
Definition
|
|
Term
|
Definition
| what each party to a contract gives up to the other in making their agreement |
|
|
Term
|
Definition
| something of value must be given or promised in return for the performance or promise of performance of the other consideration. |
|
|
Term
| Benefit-detriment approach |
|
Definition
| defines consideration as a benefit received by the promisor or a detriment incurred by the promisee. |
|
|
Term
| In trying to determine whether a consideration exists consider: |
|
Definition
1. what kind of contract?
2. what is the agreed-upon exchange? |
|
|
Term
| Pre-existing legal obligation |
|
Definition
| doing or promising to do what one is already under a legal obligation to do is not consideration |
|
|
Term
|
Definition
| promise that in fact does not impose any obligation on the promisor. |
|
|
Term
| Forbearance as consideration |
|
Definition
| refraining from doing an act. |
|
|
Term
|
Definition
| lack consideration and are not enforceable |
|
|
Term
|
Definition
| reliance of the charity on the pledge in undertaking the project is deemed a substitute for consideration. |
|
|
Term
|
Definition
| an illegal agreement is void when an agreement is illegal, the parties are usually not entitled to the aid of the courts. |
|
|
Term
|
Definition
| equally guilty - both parties are guilty |
|
|
Term
|
Definition
| agreement violates is intended to protect one of the parties, that party may seek relief |
|
|
Term
|
Definition
| the least guilty party is granted relief when public interest is advanced by doing so. |
|
|
Term
|
Definition
| absence of knowledge of any defects or problems |
|
|
Term
|
Definition
| protection from that which tends to be injurious to the public or contrary to the public good which violates any established interest of society. |
|
|
Term
|
Definition
| local, state, and national laws regulate a wide variety of business activities and practices. |
|
|
Term
|
Definition
| agreement is not void unless the statute expressly specifies this. A statute expressly preserves the validitiy of the contract. |
|
|
Term
| Agreements not to compete |
|
Definition
| in the absence of a valid restrictive covenant, the seller of a business may compete with the buyer, or an ex-employee may solicit customers of the former employee. |
|
|
Term
|
Definition
| restriction to prevent competition by a former employee are held valid when reasonable and necessary to protect interest of the former employer. |
|
|
Term
|
Definition
| is committed when money is loaned at a higher rate of interest than the law allows. |
|
|
