Wgu c713 - Study guides, Class notes & Summaries

buyer invests money in a common enterprise and expects profit from others work - Security Government securities, bank securities, short term notes, non profit issues, insurance policy, annuity contracts - Exempt Securities Federal agency that enforces securities laws. - SEC (Securities and Exchange Commission) Bring cease and desist order against those who violate the law and can levy fines or confiscate profits from illegal transactions. - Functions of SEC Criminal action for SEC vio...

What purpose does the law serve in our society? -To resolve conflicts in our society without the ise of volence. What are the three branches of government? - Executive, Legislative, and Judicial What is Statutory Law? - Law that is created by a legislative body, known as congress, at the federal Level. What is common Law? -Is Judge-Made Law. It is law that comes from previous Judge rulings in similar cases. What is administrative Law? - A branch of law that governs the creation and operat...

What is the restatement of contracts? Detailed Analyses of the decided cases in the field. the restatements declare the law as the courts have determined it to be. What is the Uniform Commercial Code? A large collection of legal rules regarding many important businesses or commercial activities. What are the Elements of a legal contract? 1. the parties reached an agreement. 2. consideration was present. 3. the agreement was legal. 4. the parties entered into the contract with ca...

WGU C713 Business Law Questions and Answers 100% Solved common law refers to? law made when judges decide cases and then follow those decisions in later cases three branches of government in the US are? the executive, legislative, judicial when the food and drug adminstration prohibits a certain drug from being marketed in the US this is? an agency regulation statutory law is to legislative bodies as common law to? courts if in 1900 the Minnesota supreme court ruled that a minor can void a c...

Expectation Interest What the injured party reasonably thought she would get from the contract Reliance Interest If the injured party has not shown an expectation interest, but proves that he spent money in reliance on the agreement and that, in fairness, he should receive compensation: Designed to put an injured party in the position he would have been in had the parties never entered the contract Restitution Interest The injured party has conferred a benefit on the other party...

What is a tort? A private wrong Money given to victims that can include a replacement of property, lost wages, and medical expenses is called _____. Additional payments used to deter others from similar conduct is called _____? Compensatory damages Punitive damages. In a work parking garage, a recently terminated employee approaches his boss and verbally mocks him. The boss punches the employee in the face, knocking him out. Later, the employee sues the boss for assault. The bos...

What purpose does the law serve in our society? To resolve conflicts in our society without the ise of volence. What are the three branches of government? Executive, Legislative, and Judicial What is Statutory Law? Law that is created by a legislative body, known as congress, at the federal Level. What is common Law? Is Judge-Made Law. It is law that comes from previous Judge rulings in similar cases. What is administrative Law? A branch of law that governs the c...

How long can a trademark be protected under federal law? indefinitely One reason for the legal protection of intellectual property is to promote -----? Innovation What is a work considered once copyright has expired. Public Domain Improper Misappropriation occurs when you obtain which protected item by using improper means Trade Secrets In addition to phrases, symbols and designs, which of the following can also be trademarked? Words What is the term for w...