Business Law: Principles and Practices – Flashcards
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acts
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laws passed by Congress
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administrative regulations
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rules made by administrative agencies that have the same force and effect as statutes and court decisions
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business ethics
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branch of ethics that relates to what is right or good in business setting
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case law
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law arrived at through court decision
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civil law
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law dealing with the relationships between individuals
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code of ethics
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document outlining the type of ethical behavior expected of an employee on the job
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common law
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unwritten law based on local English customs
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constitutional law
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law derived from the U.S. Constitution and the constitution of the individual states
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criminal law
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laws that deal with the relationships between individuals and society and that maintain order
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equity
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nonmonetary relief granted by courts when money damages are inadequate
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ethics
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inquiry into the moral judgements people make in deciding what is wrong or right
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law
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enforceable set of rules of conduct
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ordinances
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laws passed by local governments such as cities, towns, and villages
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precedent
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example or standard for deciding subsequent cases involving the same or similar facts
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stare decisis
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practice by which judges follow precedents in previously decided cases
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statutes
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laws passed by legislative bodies rather than the courts
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accommodation of interests
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Acknowledgment of the equitable consideration of parties involved in a dispute
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appellate courts
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courts that hear appeals of lower court decisions
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Bill of Rights
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first ten amendments to the U.S. Constitution
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commercial claims court
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special lower court, similar to small claims court, that allows businesses to sue debtors up to a certain limit
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drug courts
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courts that handle drug-related crimes
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general jurisdiction
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power of a court to hear almost any case brought before it
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judicial review
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power of a court to review the decisions of a lower court
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jurisdiction
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power to hear and decide a case
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limited jurisdiction
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power of a court to hear only certain kinds of cases
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litigation
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lawsuit or legal action
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separation of powers
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concept of independent branches of government
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small claims court
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court that hears minor civil cases involving small amounts of money
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standing to sue
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a person has legitimate issues giving him or her the legal right to bring a lawsuit
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writ of certiorari
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grants permission for a case to be heard by the U.S. Supreme Court
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arraignment
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charging a person with a crime and asking for that person's plea
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arrest
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to take into police custody
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arson
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intentional, illegal burning of a home, building, or personal property
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assault
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crime of unlawfully causing physical injury to another; tort of threatening another with bodily harm
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bail
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money or property given to a court to obtain the release of a person from jail
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blackmail (extortion)
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crime in which a person illegally obtains money or other property by making threats; also called extortion
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bribery
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unlawful payment used to secure new business, obtain proprietary information, or manage some personal gain
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burglary
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unlawfully entering another's home or building with the intent to commit a crime
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computer crime
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using a computer for fraudulent purposes
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crime
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wrongful act against society defined by law and made punishable by law
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cyber crimes
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crimes committed with or through the use of computers or computer technology
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defense
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reason an accused offers to excuse his or her guilt in a criminal action; also, reason offered by defendant in a lawsuit for being relieved of responsibility
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dram shop act
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law imposing liability on bars and taverns selling alcoholic beverages to intoxicated individuals
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driving while intoxicated
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having consumed sufficient alcohol that the ability to properly operate a motor vehicle is affected
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duress
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threat to do harm to a person for failure to perform an unlawful act against his or her will
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embezzlement
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unlawful use or stealing of property by one who has been legally entrusted with the property
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entrapment
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a law enforcement officer persuading or forcing a person to commit a crime
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false pretense
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unlawfully obtaining, through deception or trickery, possession of another's lawful property
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felony
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serious crimes punishable by death or imprisonment for more than one year
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forgery
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making a false written instrument or the material alteration of an existing genuine written instrument with the intent to deceive
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identity theft
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unlawfully obtaining and using personal identifying information of another person
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indictment
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formal, written accusation by a grand jury that one has committed a crime
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initial appearance
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person's first appearance before a judge after being arrested
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insider trading
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receiving and profiting from advance inside information about the stock of a publicly held corporation. Trading in securities by someone having information not available to the public
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larceny
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intentional theft of the money or personal property of another
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Miranda warnings
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rights read to a suspect upon arrest
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misdemeanor
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less serious crime punishable by a jail sentence of less than one year
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parole
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conditional release from prison allowing a person to serve the rest of a prison sentence outside of prison
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preliminary hearing
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hearing immediately following an arrest to determine if probable cause for the arrest existed and whether continued restraint of the accused was warranted
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probable cause
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reasonable belief that a crime has been committed or certain facts exist
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probation
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allowing a person convicted of an offense to avoid prison and be free on good behavior, usually under the supervision of a probation officer
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receiving stolen property
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possession of property acquired as the result of some wrongful act or dishonest act of taking
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RICO
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Racketeer Influenced and Corrupt Organizations Act
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robbery
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forcible taking of money or personal property of another
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shoplifting
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taking merchandise from a store without paying for it
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theft
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unlawful taking of a persons property without the use of force and with the intent of permanently depriving the person of their property
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assault
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crime of unlawfully causing physical injury to another; tort of threatening another with bodily harm
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assumption of risk
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defense against people who voluntarily expose themselves to a risk of harm, suffer an injury, and then sue
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battery
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unlawfully striking another person
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comparative negligence
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comparing the negligence of the injured party and the one being sued
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compensatory damages
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actual measurable damages
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contributory negligence
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defense that injured party's negligence led to injury
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conversion
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wrongfully exercising control or ownership over another's personal property
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cyber torts
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wrongful acts causing personal injury or damage committed on the internet
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damages
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money paid by a defendant to a successful plaintiff for his or her injuries
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defamation
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oral or written false statements that injure a person's reputation
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false arrest
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unauthorized detainment by an officer of the law
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false imprisonment
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unlawfully restricting a person's freedom of movement
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fraud
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deliberate false statement or concealment of a material fact
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infliction of emotional distress
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when one person's extreme conduct causes severe mental suffering in another; also called outrage
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injunction
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court order forbidding a person from doing a certain act
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intentional tort
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when one person deliberately inflicts injury to another person or damages that person's property
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interference with contractual relations
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intentional procuring of breach of a valid contract
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invasion of privacy
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violating one's right to be left alone
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libel
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written false statements that injure a person's reputation
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malicious prosecution
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wrongfully initiating a lawsuit against one who has done no wrong
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malpractice
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professional's improper or immoral conduct in performing duties done intentionally or through carelessness or ignorance
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negligence
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breach of a legal duty to act carefully resulting in injury to another or damage to another's property
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nuisance
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use of one's property to annoy or disturb others
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punitive damages
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damages imposed upon a wrong doer as punishment for intentionally committing a wrongful act
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slander
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oral false statements that injure a person's reputation
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strict liability
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legal responsibility for harm done to another even when there is no proof of fault on the part of the party that caused the harm
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theft of trade secrets
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unlawfully acquiring information vital to a business
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tort
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wrongful act causing injury to another person or another person's property
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tort law
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law dealing with private wrongs and affecting individuals rather than society as a whole
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trespass
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illegally entering or remaining on the property of another
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wrongful death
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wrongful act that causes the death of another
