Business law c713 - Study guides, Class notes & Summaries

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...

Tort A violation of a duty imposed by a civil law Negligence A surgeon removing the wrong kidney from a patient commits a tort called: Interference with a contract A business executive who deliberately steals a client away from a competitor interfering with a valid contract commits a tort called: The injured party When a tort is committed who brings the case to court District Attorney When criminal law or contract law is committed who bring the case to court ...

Litigation refers to lawsuits, the process of filing claims in court, and ultimately going to trial Alternative Dispute Resolution any other formal or informal process used to settle disputes without resorting to a trial Litigator Lawyer who handles court cases Negotiation In most cases, the parties will do this, whether personally or through lawyers. Fortunately, the great majority of disputes are resolved this way. Often begins as soon as a dispute arises and may last ...

Bilateral Contract A promise made in exchange for another promise. Unilateral Contract One party makes a promise that the other party can accept only by actually doing something. Executory Contract Control that has yet to be fulfilled Executed Contract Contract where all parties have fulfilled their obligations Voidable Contract When the law permits one party to terminate the agreement. Void Contract Contract that neither party can enforce Unenforc...

Which kind of law is made when an appellate court endorses a rule to be used in deciding court cases? -Constitutional law -Common law -Statutory law -Administrative law Common law is made when an appellate court endorses a rule to be used in deciding court cases - ️️Common law Which kind of law is based on the interpretation of an existing law? -Administrative law -Constitutional law -Statutory law -Common law Common law is based on the judicial interpretation of existin...

Which kind of law is made when an appellate court endorses a rule to be used in deciding court cases? Common Law Which kind of law is based on the customs of a group? Common Law Which kind of law is enacted by state or federal legislatures? Statutory Law Which type of law is used when the Federal Communications Commission publishes a regulation on cigarette advertising on television? Administrative Law A hair stylist and client disagree over whether the stylist pr...

Stare Decisis Let the decision stand: Set precedent for similar cases in the future, but must remain flexible for new issues and changing social climates. Statutory Law Enacted by a legislature, criminalize certain actions and spell out their penalties. We vote on states representatives who create these laws. Common Law Judge made law New Law House of Representatives and the Senate. Either house may originate a proposed statute, which is called a bill. The bill must be v...

Which kind of law is made when an appellate court endorses a rule to be used in deciding court cases?️️Common Law Which kind of law is based on the customs of a group?️️Common Law Which kind of law is enacted by state or federal legislatures?️️Statutory Law Which type of law is used when the Federal Communications Commission publishes a regulation on cigarette advertising on television?️️Administrative Law A hair stylist and client disagree over whether the stylist pr...

WGU C713 BUSINESS LAW QUESTIONS WITH PASSED ANSWERS 100%