Business Law Ch 10

Precedent – A tool used by judges to make ruling on cases on the bases of key similarities to previous cases.
Law – Tells us how to live in a society, every society has laws. Most laws are written by attorneys, and some laws are biased, some even the playing field, and some are a reflection of morals and values. The laws we follow are mostly state and local laws.
Procedural law – Rules that define the manner in which the rights and duties of individuals may be enforced.
What agreements are required to be in writing? – 1. The sale of land
2. A contract that cannot possibly be completed in less than one year
3. The sale of goods valued $500.00 or more
4. A promise to pay another's debt in instance of default (co-sign)
A River City ordinance that restricts most vendors from doing business in a heavily trafficked area might be upheld under constitutional provisions covering… – equal protection
Small-Claims Court – Handles cases about disputes over small amounts of money
Contract – Any agreement enforceable by law
Can be oral or written, implied or express
Defendant – a person or institution against whom an action is brought in a court of law, an individual or group being sued or charged with a crime
Courts of original jurisdiction – courts in which lawsuits begin, trials take place, and evidence is presented. First instance/trial courts
100. _____ An implied warranty of merchantability arises in every sale or lease by a merchant. – T
liquidated debt – Debt for which the parties agree that the debt exists and on the amount of the debt
Civil Law – Group of laws used to provide remedy for wrongs against individuals. ( Jessica Simpson v Brittany Spears)
Name of Parties on the Trial Level – Plaintiff-sues
Defendant-being sued
Elements of Sexual Harassment Claims: – 1. The harassment was unwelcome;
2. The harassment was on account of plaintiff's gender
3. The harassment must be objectively and subjectively offensive.
Copy right – rights given to writters and artist for works for a certain period of time
Cost-Benefit Analysis – An economic school of jurisprudence in which all costs and benefits of a law are given monetary values. Laws with the highest ratios or benefits to costs are then preferable to those with lower ratios.
monogamy – married to one person

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