Business Law Vocab PDF

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List of vocab for the final exam...

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Business Law Vocab Words for Final business ethics : principles and standards that determine acceptable conduct in business civil disobedience : A form of political participation that reflects a conscious decision to break a law believed to be immoral and to suffer the consequences. conflict of interest : A situation in which a person in a position of responsibility or trust has competing professional or personal interests that make it difficult to fulfill his or her duties impartially. entitlement theory : all have certain rights that must be honored and protected by government ethical egoism : the belief that individuals should live their lives so as to maximize their own pleasure and minimize their own pain ethics : moral values integrity : honesty moral relativists : Persons who believe that ethical truths depend on the individuals and groups holding them. natural law : A doctrine that society should be governed by certain ethical principles that are part of nature and, as such, can be understood by reason. positive law : Laws created by the proper authority that enjoin specific obligations upon individuals and bind in conscience insofar as they conform to the dictates of the divine and natural laws primium non nocere : First do no harm rights theory : Everyone has a set of rights and it is the role of government to enforce those rights. social contract : A voluntary agreement among individuals to secure their rights and welfare by creating a government and abiding by its rules. stakeholder analysis : A technique of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project. stakeholders : All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address. theory of justice : Each person should act fairly toward others in order to maintain the bonds of community utilitarians : those who hold that an action is right that produces the greatest good for the greatest number of people administrative agency : a federal, state, or local government agency established to perform a specific function administrative law : The body of law created by administrative agencies (in the form of rules, regulations, orders, and decisions) in order to carry out their duties and responsibilities. administrative law judge (ALJ) : The official who presides over a hearing involving a government agency and someone affected by a decision of that agency. The ALJ hears evidence, including the testimony of witnesses, and renders a decision. Administrative Procedure Act : A law passed in 1946 requiring federal agencies to give notice, solicit comments, and (sometimes) hold public hearings before adopting any new rules.

exhaustion-of-administrative remedies : The completion of all possible administrative procedures and appeals in a case; required before a party can appeal an agency action to a court. case-and-desist order : An administrative or judicial order prohibiting a person or business firm from conducting activities that an agency or court has deemed illegal. consent decrees : informal settlements of enforcement actions brought by agencies Federal Register : An official document, published every weekday, which lists the new and proposed regulations of executive departments and regulatory agencies. Federal Register Act : requires that proposed administrative regulation be published in the Federal Register

Freedom of Information Act : Gives all citizens the right to inspect all records of federal agencies except those containing military, intelligence, or trade secrets; increases accountability of bureaucracy hearing examiner : another name for an administrative law judge hearing officer : another name for an administrative law judge informal settlements : settlements by people who do not hold legal claims to the land their homes are built upon intervenors : interested parties who are permitted to participate in agency hearings even though they are not parties to the case open meeting law : law that requires advance notice of agency meeting and public access blackmail : extortion of money by threats to divulge discrediting information computer crime : Any violation of criminal law that involves knowledge of computer technology for its perpetration, investigation, or prosecution. conspiracy : a secret agreement between two or more people to perform an unlawful act crime : An act against the law due process : fair treatment through the normal judicial system, especially as a citizen's entitlement. Economic Espionage Act : A federal statute that makes it a crime for any person to convert a trade secret for his or her own or another's benefit, knowing or intending to cause injury to the owners of the trade secret. embezzlement : theft or misappropriation of funds placed in one's trust or belonging to one's employer. extortion : the practice of obtaining something, especially money, through force or threats Federal Sentencing Guidelines : federal standards used by judges in determining mandatory sentence terms for those convicted of federal crimes felonies : A serious criminal offense punishable by a prison sentence of more than one year

Fifth Amendment : A constitutional amendment designed to protect the rights of persons accused of crimes, including protection against double jeopardy, self-incrimination, and punishment without due process of law. Foreign Corrupt Practices Act : U.S. law regulating behavior regarding the conduct of international business in the taking of bribes and other unethical actions. forgery : The fraudulent making or altering of any writing in a way that changes the legal rights and liabilities of another. Fourth Amendment : Protects against unreasonable search and seizure Miranda warnings : Warnings that police must read to suspects prior to questioning that advises them of their rights. misdemeanors : less serious crimes usually punishable by a sentence in a local jail predicate act : Qualifying underlying offense, for private RICO actions, absent a prior criminal conviction Racketeer Influenced and Corrupt Organizations Act (RICO) : United States federal law that provides for extended criminal penalties and a civil cause of action for acts performed as part of an ongoing criminal organization. search warrant : A court order allowing law enforcement officers to search a suspect's home or business and take specific items as evidence Sixth Amendment : A constitutional amendment designed to protect individuals accused of crimes. It includes the right to counsel, the right to confront witnesses, and the right to a speedy and public trial. uttering : crime of issuing or delivering a forged instrument to another person

white collar crime : crime committed by people of high social position in the course of their occupations absolute privilege : An immunity from libel suits granted to government officials and others based on remarks uttered or written as part of their official duties contract interference : Tort involving a third party's actions resulting in a valid contract being lost or invalidated; an unfair method of competition contributory negligence : A legal defense that may be raised when the defendant feels that the conduct of the plaintiff somehow contributed to any injuries or damages that were sustained by the plaintiff. defamation : the action of damaging the good reputation of someone; slander or libel. false imprisonment : unlawful restraint or restriction of a person's freedom of movement intentional infliction of emotional destress : The willful infliction of emotions or actions causing the patient to suffer duress intentional torts : Harm caused by a deliberate action invasion of privacy : violating a person's right not to have his or her name, photo, or private affairs exposed or made public without giving consent

libel : A written defamation of a person's character, reputation, business, or property rights. malpractice : Failure by a health professional to meet accepted standards negligence : careless neglect, often resulting in injury product disparagement : false statements made about a product or business qualified privilege : a legal right allowing journalists to report judicial or legislative proceedings even though the public statements being reported may be libelous shopkeeper's privilege : right of a store owner to detain a suspected shoplifter based on reasonable cause and for a reasonable time without resulting liability for false imprisonment slander : defamation slander of title : The publication of a statement that denies or casts doubt on another's legal ownership of any property, causing financial loss to that property's owner. strict liability : The legal responsibility for damage or injury even if you are not negligent tort : a wrongful act or an infringement of a right (other than under contract) leading to civil legal liability. trade libel : A business tort that occurs when false printed statements criticize a business product or service and result in a loss of sales. trespass : entry to another's property without right or permission compensatory damages : A money award equivalent to the actual value of injuries or damages sustained by the aggrieved party. consumer : A person who purchases goods and services for personal use consumer credit : a type of credit granted by retailers that is used by individuals or families for satisfaction of their own wants Consumer Financial Protection Bureau : An independent bureau within the Federal Reserve that helps consumers make financial decisions. development statement : statement that sets forth significant details of a real estate or property development as required by the federal Land Sales Act franchise : A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area hearsay evidence : Evidence given by a witness based on information received from someone else rather than personal knowledge predatory lending : take advantage of ill-informed consumers through excessively high fees property report : Government-required information that must be given to purchasers in subdivisions. punitive damages : Monetary damages that may be awarded to a plaintiff to punish the defendant and deter similar conduct in the future.

subprime lending market : a credit market that makes loans to high-risk consumers (those who have bankruptcies, no credit history, or a poor credit history), often loaning money to pay off other debts the consumer has due best available treatment : In environmental law, a requirement that state-of-the-art methods be used for treating water best conventional treatment : In environmental law, a requirement that water be treated with the most commonly used method brownfields : contaminated industrial or commercial sites that may require environmental cleanup before they can be redeveloped or expanded bubble concept : EPA policy of maximum air emissions in one area Clean Air Act : Set emission standards for cars, and limits for release of air pollutants Clean Water Act : Federal Law setting a national goal of making all natural surface water fit for fishing and swimming by 1983, banned polluted discharge into surface water and required the metals be removed from waste Council on Environmental Quality (CEQ) : federal agency that establishes national policies on environmental quality and then recommends legislation to implement these policies due diligence : the attention reasonably expected from, and ordinarily exercised by, a person who seeks to satisfy a legal requirement or to discharge an obligation. effluent guidelines : EPA standards for maximum ranges of discharge into water emissions offset policy : controls whether new factories can be built in a nonattainment area Endangered Species Act : identifies threatened and endangered species in the US, and puts their protection ahead of economic considerations environmental impact statement : Statement required by Federal law from all agencies for any project using Federal funds to assess the potential affect of the new construction or development on the environment. injunction : an authoritative command or order National Environmental Policy Act : Environmental Impact Statements must be done before any project affecting federal lands can be started Noise Control Act : Works toward reducing and eliminating noise pollution that poses a threat to human health and welfare. nonattainment areas : Defined by The Clean Air Act as a locality where air pollution levels persistently exceed National Ambient Air Quality Standards, or that contributes to ambient air quality in a nearby area that fails to meet standards. nonconforming use : A pre-existing use of land which does not conform to the zoning ordinance but which may legally remain. Oil Pollution Act : It states "A company cannot ship oil into the United States until it presents a plan to prevent spills that may occur. It must also have a detailed containment and cleanup plan in case of an oil spill emergency." point sources : discharge pollutants at specific locations through drain pipes, ditches, or sewer lines into bodies of surface water

private nuisance : A nuisance that affects only a single individual or a very limited number of individuals. public nuisance : An owner's use of land that causes damage or inconvenience to the general public. Resource Conservation and Recovery Act (RCRA) : Management of non-hazardous and hazardous solid waste including landfills and storage tanks. Set minimal standards for all waste disposal facilities and for hazardous wastes. Resource Recovery Act : provided federal money for cities and states with recycling programs

restrictive covenants : A statement written into a property deed that restricts the use of the land in some way; often used to prohibit certain groups of people from buying property Safe Drinking Water Act : Legislation that sets the national standards for safe drinking water. spot zoning : When a particular property or group of properties is rezoned to permit a use different form the neighboring properties use. Superfund Amendments and Reauthorization Act (SARA) : help solve problems with hazardous waste Superfund sites : Properties contaminated with hazardous substances that undergo management and cleanup by the EPA Toxic Substances Control Act (TOSCA) : First federal law to control the manufacture, use, and disposal of toxic substances. Transport Rule : can be used to identify and take action on messages that flow through your Exchange Online organization. zoning : dividing an area into zones or sections reserved for different purposes such as residence and business and manufacturing etc Clayton Act : Act that minimally restricted the use of injunctions against labor and legalized peaceful strikes, picketing, and boycotts. divestiture order : a court order to dispose of interests that could lead to a monopoly market power : the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices price discrimination : the business practice of selling the same good at different prices to different customers Robinson-Patman Act : prevents unfair price discrimination by ensuring that the seller offer the same price terms to customers at a given level of trade Sherman Antiturst Act : A federal law that include civil and punitive damages for activities in restraint of interstate and foreign trade. treble damages : three times the damages actually sustained tying : the anticompetitive practice of requiring buyers to purchase one product in order to get another case law : the rules of law announced in court decisions

civil law : A law that governs relationships between individuals and defines their legal rights. administrative regulations : rules made by state and federal administrative agencies common law : A legal system based on custom and court rulings consitution : the body of fundamental laws setting out the principles, structures, and processes of a government criminal law : A law that defines crimes against the public order. duty : A moral or legal obligation; a responsibility equity : a condition in which people receive from a relationship in proportion to what they give to it law : A body of enforceable rules governing relationships among individuals and between individuals and their society. precedent : an earlier event or action that is regarded as an example or guide to be considered in subsequent similar circumstances. private law : the rules and regulations parties agree to as part of their contractual relationships procedural law : Law that establishes the methods of enforcing the rights established by substantive law. right of privacy : The right to a private personal life free from the intrusion of government. stare decisis : Let the decision stand; decisions are based on precedents from previous cases statutory law : Law passed by the U.S. Congress or state legislatures admissibility : the quality of the evidence in a case that allows it to be presented to the jury affirm : To declare that a court ruling is valid and must stand. appeal : To ask a higher court to review the decision and determine if justice was done appellate jurisdiction : Authority of court to review a decision of a lower court or administrative agency. arbitration : settling a dispute by agreeing to accept the decision of an impartial outsider association tribunal : a court created by a trade association or group for the resolution of disputes among its members attorney-client privilege : right of individual to have discussions with his/her attorney kept private and confidential complaint : a formal notice that a lawsuit is being brought counterclaim : a position taken by someone with an opposing viewpoint court : A group of nobles who live near and serve or advise a ruler cross-examination : The questioning of an opposing witness during a trial. defendant : an individual or group being sued or charged with a crime

demurrer : a pleading to dismiss the adverse party's pleading for not stating a cause of action or a defense deposition : direct examination : The examination of a witness by the attorney who calls the witness to the stand to testify on behalf of the attorney's client. directed verdict : a ruling that the plaintiff has entirely failed to prove some aspect of her case discovery : A phase in the litigation process during which the opposing parties may obtain information from each other and from third parties prior to trial. en banc : the term used when the full panel of judges on the appellate court hears a case execution : the carrying out or putting into effect of a plan, order, or course of action. expert witness : federal district courts : The lowest tier of the federal court system and similar to the trial courts that exist in each state garnishment : a legal process that allows part of your paycheck to be withheld for payment of a debt general jurisdiction : Exists when a court's authority to hear cases is not significantly restricted. A court of general jurisdiction normally can hear a broad range of cases. impeach : To formally charge a public official with misconduct in office interrogatories : A series of written questions for which written answers are prepared by a party to a lawsuit, usually with the assistance of the party's attorney, and then signed under oath. judge : a person chosen to interpret laws, decide on a winner, or settle a controversy Judgement non obstante veredicto : a decision by a judge that overrules the verdict of the jury jurisdiction : the official power to make legal decisions and judgments. jury : a body of citizens sworn to give a true verdict according to the evidence presented in a court of law limited jurisdiction : courts that generally hear cases that raise questions about a federal law or the federal constitution mediation : A method of settling disputes outside of court by using the services of a neutral third party, called a mediator. The mediator acts as a communicating agent between the parties and suggests ways in which the parties can resolve their dispute. minitrial : a trial held on portions of the case or c...