IMBA International Business Law

Law rules of order that dictate some minimum expectation for how to live in a society for civility and reduced chaos with reasonable protections of rights and minimal interference of others rights Burden of Proof (2) obligation to prove one’s assertion, always rests on plaintiff Types of Law (2) criminal, civil Main civil theories (2) […]

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Business Law 1 (first exam review)

1. Jurisdiction The authority of a court to hear and decide a case. To make a legally valid decision in a case, a court must have both “subject matter jurisdiction” (power to hear the type of case in question, which is granted by the state legislatures and Congress). 2. Venue The appropriate location according to […]

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Business Law 140 Riolo Mesa College Exam Two

What is a Merchant? 1. Person 2. Engaged in purchase or sale 3. of “goods” 4. Involved in contract 5. Knowledgeable/constructive knowledge Why is it important to be a merchant in a dispute resolution? Because they are knowledgeable and held to a higher standard What is an Assignment? Legal transfer of a benefit What is […]

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Instructional Area: Business Law (BL)

Discuss the nature of law and sources of law in the US 1) Law is a body of rules prescribed by a controlling authority (government) with binding legal force 2) The law consists of rules that regulate the conduct of individuals, business, and other organizations within society 3) The law is intended to protect people […]

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Business Law

Consideration Parties must have this to be considered a contract Unilateral Contract formed by an offer on one side for an act to be done on the other, and a doing of the act by the other by way of acceptance of the offer; that is, a contract wherein the only acceptance of the offer […]

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Business Law (Ch. 5 —> Ch. 12)

Contract Any agreement enforceable by law Equity Theory Exchange of items of equal value What do contracts do? Create both moral and legal obligations. Social Arrangements Are not contracts and not enforceable by law. (Prom date). Will Theory Wether the parties agreed to the terms set forth by the contract without duress. Formalist Theory What […]

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Business Law Definitions

Act Legislation adopted by Congress or a state legislature. Administrative Law The legal principles involved in the workings of administrative agencies with the regulatory process Breach of Contract A party’s failure to perform some contracted-for or agreed-upon act, or failure to comply w/ a duty imposed by law. Citation the reference identifying how to find […]

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Business Law Chapters 11-19

Promisor Person making the promise Promisee Person to whom the promise is made Objective Theory of Contracts intent to form a contract will be judged by outward, objective facts as interpreted by a reasonable person, rather than by the party’s own secret, subjective intentions Requirements of a valid contract Agreement, Consideration, Contractual Capacity, Legality Offeror […]

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Business Law

The characteristics of the law is that the law is: Powerful, Important, & Fascinating The sources of contemporary law is the: US Constitution, State Constitution, Statute, Common Law, Administrative, Treaties and Executive order The reason why one bothers with ethics is because: Society as a whole benefits by encouraging economic competition. People feel better when […]

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