Business Law Chapter 4-6

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Assumption Of Risk
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A doctrine under which a plaintiff may not recover for injuries or damage suffered from risks he or she knows of and has voluntarily assumed
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Business Invitee
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A person, such as a customer or a client, who is invited onto business premises by the owner of those premises for business purposes.
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Causation in Fact
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actual or substantial cause of harm; Can use “but for” rule or test; plaintiff’s harm would not have occurred but for defendant’s negligent conduct
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conversion
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Change from one (1) classification or use of land property to another is called __________.
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damages
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A sum of money paid in compensation for loss or injury in a civil case
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defamation
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Slander or libel
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dram shop act
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A state statute that imposes liability on the owners of bars and taverns, as well as those who serve alcoholic drinks to the public, for injuries resulting from accidents caused by intoxicated persons when the sellers or servers of alcoholic drinks contributed to the intoxication.
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duty of care
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The duty of all persons, as established by tort law, to exercise a reasonable amount of care in their dealings with others. Failure to exercise due care, which is normally determined by the reasonable person standard, constitutes the tort of negligence.
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fraudulent misrepresentation
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Any misrepresentation, either by misstatement or by omission of a material fact, knowingly made with the intention of deceiving another and on which a reasonable person would and does rely to his or her detriment
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intentional tort
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wrongs committed against individuals or property
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negligence
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An unintentional violation of a legal duty to use a standard of care.
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negligence per se
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An action or failure to act in violation of a statutory requirement.
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proximate cause
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Legal cause; exists when the connection between an act and an injury is strong enough to justify imposing liability.
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puffery
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Claims made in advertising of product superiority that cannot be proven true or untrue.
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slander of quality
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A business tort that occurs when false spoken statements criticize a business product or service and result in a loss of sales.
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slander of title
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A business tort that occurs when false published statements are related to the ownership of the business property.
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strict liability
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The legal responsibility for damage or injury even if you are not negligent
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tort
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Any wrongful act
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tortfeasor
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A person who commits a tort
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certification mark
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A mark used by one or more persons, other than the owner, to certify the region, materials, mode of manufacture, quality, or other characteristic of specific goods or services.
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copyright
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An exclusive right granted by the federal government allowing the owner to reproduce and sell an artistic or published work.
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intellectual property
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Refers to intangibles such as ideas, music, art, photos, logos, movies, and programs that are the result of creativity and intellectual effort.
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license
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An agreement by the owner of intellectual property to permit another to use a trademark copyright patent or trade secret for certain limited purposes
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patent
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Exclusive rights over an invention; copyright
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service mark
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A trademark that is used to distinguish the services (rather than the products) of one person or company from those of another.
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trade dress
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The image and overall appearance of a product
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trade name
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A commercial, legal name under which a company does business.
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trademark
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A brand that has exclusive legal protection for both its brand name and its design
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trade secret
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A formula, device, idea, process, or other information used in a business that gives the owner a competitive advantage in the marketplace.
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actus reus
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a guilty prohibited act
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double jeopardy
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Being tried twice for the same crime
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felony
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a crime, typically one involving violence, regarded as more serious than a misdemeanor, and usually punishable by imprisonment for more than one year or by death.
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larceny
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(n.) obtaining another’s property by theft or trickery (When my car was not where I had left it, I realized that I was a victim of.)
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mens rea
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the wrongful mental state
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misdemeanor
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(n.) a crime or offense that is less serious than a felony; any minor misbehavior or misconduct

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