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BADM 7140 (Business Law) Quiz 2 Questions with Explanations of Answers | latest upate 2024
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BADM 7140 (Business Law) Quiz 2 Questions with Explanations of Answers | latest upate 2024
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BADM 7140 (Business Law) Quiz 2Tort (4 parts) - ANS-a. Duty - act in a reasonably prudent manner (RPM)
b. Breach
c. Cause
i. In Fact
ii. Proximate
d. Damage - Injury
Negligence per se - ANS-violating a statute - still have to have cause and damage
Unreasonably dangerous (2 Parts) - ANS-1. Product Liability
2. Strict Liability
Product Liability (3 parts) - ANS-i. Defective Design
ii. Defective Manufacturing
iii. Failure To Warn
a. Still have to have Cause and Damage
Strict Liability (2 parts) - ANS-i. Blasting **
ii. Wild Animals
a. Still have to have cause and damage
2 Defenses to Tort - ANS-a. Assumption of Risk
i. Some things are inherently risky
b. Contributory Negligence
Allocating Fault - ANS-Comparative Negligence
i. Company
1. %
ii. Worker
1. %
Intentional Torts (2 types) - ANS-1. Defamation
2. Tortious Interference with a Contractual Relationship (TICR****)
Defamation - ANS-i. Libel - written down
ii. Slander - verbal
Tortious Interference with a Contractual Relationship (TICR****) - ANS-i. Valid Exclusive
Contract
ii. Other Party is aware
, iii. Entices Breach
iv. Causes Damage
Best 2 Defenses to Tortious Interference with a Contractual Relationship (TICR****) - ANS-i. No
awareness of an exchange relationship
ii. I don't entice a breach (had knowledge from other side)
4 Parts of a contract - ANS-a. Agreement - Offer/Acceptance
b. Consideration - Velcro - Sticks you and I together
i. Bargain for exchange of value
ii. Does not have to be equal in value
c. Capacity
i. Makes it voidable
d. Legality - pg 276
i. Void in Whole or part
4 attributes of a contract - ANS-a. Formal or Informal
i. Statute of Frauds - statute of it must be in writing!! Marriage - must be in writing
b. Executory = Not Performed or Executed = Fully Performed
i. If it is full executed, then the writing requirement disappears
c. Unilateral = Promise for behavior vs Bilateral = Promise for Promise
i. Unilateral - accepting by action
d. Void vs voidable
Capacity and Legality
Capacity is void(able)? - ANS-• Capacity - Voidable
o The party is under duress, minor, incompetent, under extreme medication
o Threatening harm (selling car or I will hurt you)
Capacity and Legality
Legality is void(able)? - ANS-Void (in whole or part)
- Exculapatory
Exculpatory - - ANS-contracting yourself out of your duties in terms of being reasonably prudent
Unconscionability - ANS-Behavior is just unacceptable
Unconscionability (2 types) - ANS-o Procedural - hide the terms, put it in difficult print, you
change a term or condition and do not tell the other part
o Substantive - subject matter (terms or conditions) of the contract itself.
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