Mgmt 209 - Study guides, Class notes & Summaries

Clayton Celler-Kefauver Act (1950) correct answers If the government choses to block a merger is is usually done under what law and what act under that law? The court's interpretation of Sherman correct answers What caused the weakness of Sherman? Specific and preventative correct answers How would you describe the language of Clayton? Broad correct answers How would you describe the language of Sherman? Prevent and punish anticompetitive practices correct answers What is antitrust...

Is contract law statutory or common law? CORRECT ANSWER Usually common law Can vary state by state, but is becoming more uniform Can be supplemented by State statutes Two functions of contracts CORRECT ANSWER Dictate Performance Allocate Risk Contract law definition CORRECT ANSWER System of rules for enforcing promises and the breaking of promises Least cost avoider of risks CORRECT ANSWER Better at minimizing costs associated with risks Efficient legal rules are one that enforce ...

What is a tort? correct answers Civil wrong other than breach of contract for which the law provides a remedy in the form of damages For torts, Crimes are against correct answers society as a whole Torts are to punish by correct answers hitting the defendant in the pocketbook by making him/her pay money for damages Torts proven by a more likely than not correct answers standard Three major types of torts correct answers intentional torts, negligence, strict liability Intentional T...

Chapter 1 CORRECT ANSWER Introduction to Law and Sources of Law 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 ANSWER 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) Crimin...

What is law? correct answers Law consists of enforceable rules governing relationships among individuals and between individuals and their society. Types of Law correct answers U.S. Constitution and the constitutions of the various states Statutory laws - including laws passed by congress state, legislatures, or local governing bodies Regulations - created by administrative agencies, such as the Food and Drug Administration Case law and common law doctrines Constitutional Law correct an...

Civil Law correct answers law that provides remedies for individuals or entities that have been wronged by the other individual or entity Common Law correct answers how judges make most of American Law through stare decisis Constitutional Law correct answers derived from the United States Constitution Criminal Law correct answers designed to further society's interest in preventing crime and punishing criminals Dispute Resolution correct answers the law gives people and business ent...

TAMU MGMT 209 STUDY GUIDE MULTIPLE CHOICE Chapter 1 Introduction to Law and Sources of Law 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 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?

TAMU MGMT 209 STUDY GUIDE MULTIPLE CHOICE Chapter 1 Introduction to Law and Sources of Law 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 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?

NLRB v. Mackay Radio & Telegraph Co. correct answers This doctrine clearly establishes the legality of using permanent strike replacements in economic strikes NLRB v. Washington Aluminum Co. correct answers 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 answers see Norris- LaGuardia Act of 1932. 1) Outlawed "yellow dog contracts". 2) makes it difficult fo...

The nature of contractural exchange correct answers Gives us: -Contract Law -Common Law It is a fundamental part of our: -economic system -the legal environment of business Contract Law correct answers A system of rules for ENFORCING promises and BREAKING promises Contract law tells us... correct answers -Which promises are legally enforceable -the Consequences of breaking the promises Societal Level of contracts correct answers Provide a legal environment conductive to volun...