Mgmt 209 - Study guides, Class notes & Summaries

A court can change statutory law by interpretation of the statutory law. correct answers True The meeting of the states that we now call the Constitutional Convention was attended by delegates from all 13 of the original colonies which became the first thirteen states. correct answers False The Enumerated Powers Clause is found in the First (1st ) Amendment. correct answers False Regulation standardizes private, business activities. correct answers True The New Jersey Plan at the Con...

Major types of torts correct answers - Intentional tort - Negligence - Strict liability Crime is wrong against __, and a tort is a wrong against __ __. correct answers Society. Private party. What is the fundamental results of criminal law and tort law? correct answers Deterrence of activities considered to be wrong What are strict liabilities limited to? correct answers Reserved for abnormally dangerous activities In what ways are victims appeased? correct answers - Receipt of co...

NLRB v. Mackay Radio & Telegraph Co. CORRECT ANSWER This doctrine clearly establishes the legality of using permanent strike replacements in economic strikes NLRB v. Washington Aluminum Co. CORRECT ANSWER non-unionized workers walk off job and protest due to poor conditions = fired = firing is ruled illegal by NLRB due to activity of mutual aid/ protection Anti-Injunction Act CORRECT ANSWER see Norris- LaGuardia Act of 1932. 1) Outlawed "yellow dog contracts". 2) makes it difficult for emp...

What are the three types of tort law? correct answers 1. Intentional Torts: Against persons, business rights, and against property 2. Negligence: No intent, just recklessness and carelessness. 3. Strict Liability: Always liable no matter what Give example of reputation damages. correct answers Defamation -> leads to compensation ($) What are punitive damages? correct answers Violating the law in a reckless way, leads to large $ amounts. What is tort reform? correct answers A handle...

Contract CORRECT ANSWER A legal agreement of the parties to do something not obligated to do or to refrain from doing something legally entitled to do. ____ consist of a promise, but not all promises are ___. (promises-manifestation of intent to do or not do something) Standard CORRECT ANSWER Apparent intention of a party to enter into a contract is determined by the objective, outward manifestation of his or her assent as it would be interpreted by a reasonable person, rather than by tha...

What are the purposes of tort law? CORRECT ANSWER - Appeasement - Justice - Deterrence - Social Insurance A tort's purpose it to make guilty party pay Appeasement CORRECT ANSWER the purpose of the law is to limit the negative impact of the infliction of injury to the event of the injury itself Justice CORRECT ANSWER Ethical retribution and Ethical compensation Ethical retribution CORRECT ANSWER places emphasis on the fact that the payment of compensation is harmful to the tortfeas...

Two major roles of law in the business world CORRECT ANSWER 1. Dispute Resolution Role 2. Regulation (Regulatory) Role Dispute Resolution role CORRECT ANSWER - Settles differences between two or more parties - Mainly covered in a Business Law class Regulation (Regulatory) role CORRECT ANSWER - Government interferes with private business - Directs and standardizes business activities (Government becomes an active third party) Definition of Law CORRECT ANSWER Law is a collection of rul...

contract law correct answers a system of rules for enforcing promises and breaking promises contract law gives extent to which promises correct answers 1. Are legally enforceable 2. consequences of breaking the promises societal level contracts correct answers provide a legal environment conductive to voluntary exchanges individual level contracts correct answers 1. the facilitation of mutually beneficial exchange 2. allocation of risks 2 functions of contracts correct answers 1. p...

Chapter 1 CORRECT ANSWER Two Main Functions of Law CORRECT ANSWER 1. Dispute Resolution 2. Government Regulation Law CORRECT ANSWER Collection of rules and regulations that govern how we interact with each other and with the government, and the enforcement thereof, gray areas What does Enforcement of Law lead to? CORRECT ANSWER Predictability and Stability, want uniformity 5 Sources of Law CORRECT ANSWER 1. Constitutional Law 2. Congress 3. Executive Creation of Law 4. Courts 5...

You get angry at your roommate and decide to kill him/her. If you do, what type of law have you violated? A) Statutory B) State C) Criminal D) Public E) All of the above correct answers E) All of the above There are two major functions of the legal system. When you are sued in Court this is an example of what type of major function of the legal system? A) Gov. regulation B) Dispute resolution C) Civil Law D) Criminal Law E) All of the above correct answers B) Dispute resolution ...