FINA 2244 Final Review (The Legal Environment of Business)

  1. Constitution
    Established the limits and powers of the federal government
  2. 3 Branches of the Government
    • Legislative
    • Executive
    • Judicial
  3. Statutory Law
  4. Common Law
    Judge made law
  5. Criminal Law
    Guilty beyond a reasonable doubt
  6. Civil Law
    Liable by preponderance of the evidence
  7. Jurisdiction
    • The right of a court to hear and decide the case
    • 2 Types: subject matter & personal/property
  8. Subject Matter Jurisdiction
    Amount in controversy is more than $75,000
  9. Personal Jurisdiction
    If person is present in the state, state has jurisdiction
  10. Basic Trial Procedures
    • Pleading stage 
    • Discovery stage
    • Pretrial stage
    • Trial stage 
    • Appellate stage
    • Enforcement stage
  11. Remedies in Civil Litigation
    • Monetary Damages 
    • Equitable Remedies
  12. Monetary Damages
    • Compensatory 
    • Punitive or exemplary 
    • Nominal
  13. Equitable Remedies
    • Gets someone to do something, no $
    • Specific performance
    • Injunction (can be permanent, temporary, or preliminary) -- gets someone to stop doing something
  14. Appellate Stage
    • Appeals cases
    • Assures judge applied the law correctly
  15. Bill of Rights
    The first 10 amendments ratified in 1791 by the states
  16. Amending Procedure
    • Amendment must be passed by 2/3 vote in the House and Senate
    • Then ratified by 3/4 of state legislatures or may be proposed by 2/3 of state legislatures by calling for a constitutional convention
  17. First Amendment
    • Freedom of Speech
    • Political speech has more protection than commercial
  18. Fourth Amendment
    • Unreasonable search and seizure
    • Need a warrant or permission to search or seize property
    • Exception: closely related businesses
  19. Fifth Amendment
    • Right against self incrimination
    • Applies to people NOT corporations
  20. Fifth Amendment: Takings Clause
    • Public property shall not be taken for public use without just compensation
    • Destruction of property value must be almost complete to receive compensation
  21. Negligent Torts
    Unintentional careless conduct that creates an unreasonable risk of harm to others
  22. Elements of a Negligent Tort
    • Duty
    • Breach of duty
    • Causation
  23. Negligent Tort: Duty
    • How persons in the relative community ought to behave
    • Refers to what a reasonable person would do in the same of similar situation
  24. Negligent Tort: Causation
Card Set
FINA 2244 Final Review (The Legal Environment of Business)
Final review for the exam for the entire coure