Mgmt 209 - Study guides, Class notes & Summaries

MGMT 209 EXAM 4 SWIM TAMU secured predictor - correct answer the collateral a creditor has, something of yours they can take away in case you do not pay what are the 4 types of liens - correct answer artisan, workers, landlords, mechanic/contractor artisan lien - correct answer until you pay, you don't get property back (think dry cleaning a wedding dress, you have to pay them before you can get the dress back)

What is litigation? CORRECT ANSWER Disputes that arise due to the belief by one party that the other party has committed a wrong or violated some law that cannot be resolved through mutual agreement and compromise; it is a lawsuit that is filed What are the three types of judicial systems in which businesses might become involved? Which is used less than the other two systems? CORRECT ANSWER 1) A criminal court (if accused by the state or fed. gov. of violating a criminal statute). This is pr...

You get angry at your roommate and decide to kill him/her. If you do, what type of law have you violated? CORRECT ANSWER Statutory, State, Criminal, and Public law is violated 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? CORRECT ANSWER Dispute Resolution Which of the following are sources of law? CORRECT ANSWER Administrative, Judge Made, Statutory, and Judicial interpretation When th...

Rex tries to make decisions in such a way as to benefit as many people as possible. Sam tries to treat everyone as he would wish to be treated. Rex takes a ______________ approach to decision making, and Sam follows a _______________ approach. A. Utilitarian; Utilitarian B. Utilitarian; Deontological C. Deontological; Utilitarian D. Deontological; Deontological correct answers B. Utilitarian; Deontological Reason: doing the greatest good for the greatest number is the goal of utilitaria...

values of capitalism correct answers 1. efficiency 2. opportunity 3. individual liberty anticompetitive correct answers deliberate actions by firms to harm their competitors rather than improving their own products or services antitrust law correct answers designed to prevent anti competition beginning of antitrust law correct answers john d. rockefeller begins owning the majority of shares in the oil industry breaking up of standard oil correct answers standard oil of new jersey ...

arbitrary/capricious standard correct answers determined by whether or not there is any rational reason for the agency decision delegation correct answers Congress gave power over certain activities to specialized administrative agencies deregulation correct answers to do away with regulation (more popular among Republican Administrations) economy-wide correct answers regulatory agencies that regulate problems that are not isolated in one particular industry (ex: FTC, NLRB, EPA, EEOC, e...

Judicial Review correct answers The process for making decisions on whether the laws or actions of the other two branches are constitutional or not Marbury V. Madison correct answers Established the power of Judicial Review by saying "If two laws conflict, the courts must decide on the operations of each..." Jurisdiction correct answers Power of the court to speak the law Functions of In Personam Jurisdiction correct answers - Residents of state (sued where the Defendant is a reside...

MGMT 209 FINAL STUDY GUIDE QUESTIONS (TAMU SWIM) You get angry at your roommate and decide to kill him/her. If you do, what type of law have you violated? - correct answer Statutory, State, Criminal, and Public law is violated 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? - correct answer Dispute Resolution Which of the following are sources of law? - correct answer Administrative, Jud...

Litigation correct answers the process in which a lawsuit is filed in order to have the issues resolved by the courts Plaintiff correct answers the party that begins the lawsuit Defendant correct answers the party that is being sued Preponderance of the Evidence correct answers the standard for proving the defendant responsible or liable in a civil court Beyond Reasonable Doubt correct answers the standard of proof necessary in a criminal court Trail Court correct answers the lowe...

Acceptance correct answers The offerees choice to accept the terms and conditions of a contract. Must be unconditional, unequivocal, and legally communicated. [In Texas, silence is normally not acceptance (Thurmond v. Wieser)] Agency correct answers A relationship in which one party (the principal) authorizes another party (the agent) to act as the principal's representative in dealing with third parties. Agent correct answers A representative of the principal and can bind the principal t...