Exam 1 Review - Alexis Stokes lecture notes for Business Law; includes definitions and key words PDF

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Alexis Stokes lecture notes for Business Law; includes definitions and key words to know on exam day. (All organized by section and highlighted) ...

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Business Law 2361 Prof. Alexis Stokes

Exam #1 Review Strategies I encourage you to do the following to prepare for Exam #1, which will be given in class: (1)

Read Chapters 1, 2, 6, and 5 very carefully. As you read, think of “real-world” examples of each concept. Review the Power Point presentations and your class notes. Peruse the online learning resources on your textbook’s website, which is noted on your syllabus. Review the problems at the end of each chapter. Attend the optional review session (time and place TBA). Email me or stop by my office with any questions.

(2) (3) (4) (6) (7)

In addition, you should, at a minimum, be able to apply the following concepts (please note that this is not an all-inclusive list):   

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Stare Decisis Schools of jurisprudence, especially natural law and positivism Personal jurisdiction: Court’s authority to bind the defendant to its decisions (legal authority to require the defendant to stand trial, pay judgements) o Defendant is resident of state/doing business o Defendant files papers o Summons is served to defendant Subject matter jurisdiction: Court has authority to hear a PARTICULAR type of case Federal question jurisdiction: The rights/obligations of a party are created or defined by law o Diversity of citizenship: dispute between the citizens are of different states o Controversy is over $75,000 In rem jurisdiction: (Jurisdiction over Property) Power to decide issues relation to property, but must be within the geographical borders of state o Minimum contacts do not apply Original jurisdiction: Where you file a lawsuit (brought to trial) versus appellate jurisdiction: NO trial; only allowed to review questions of law in the case/hear appeals from lower courts Venue: Appropriate location for the trial o Can only move to a different county of the state but cannot move out of state o 1st best: County where the incident occurred; 2nd best: where the defendant resides

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Standing: Plaintiff must have a vested-legal interest in the incident to sue; have to approach the court with an existing problem that can be solved Identification of parties in a lawsuit (plaintiff, defendant, appellant, appellee) o Plaintiff: The party who is suing o Defendant: The party that is being sued o Appellant: Party who lost the case; filing the appeal o Appellee: Party who won the case; opposing the appeal The structure of the federal court system: US District Court-> Circuit Court of Appeals-> US Supreme Court o Federal Question Cases: Claim is based on the constitution, federal statue, or federal treaty The stages of the litigation process --- what happens, when: o 1. Pleadings: Documents that begin the lawsuit (complaint, the answer, and sometimes a reply)  Counterclaim: Second lawsuit by the defendant against the plaintiff ( suing the one that originally sued)  Cross-Claim: Plaintiff sues another plaintiff; Defendant sues another defendant o 2. Discovery: Information gathering; parties obtain info from the opposing part prior to trial/question witnesses o Pre-Trial/Litigation: Process of filing claims and going to trial  Push towards anything to not have to go to trial  Dismissal: Case is done and cannot file again (prejudice) or case is done but the plaintiff can fix mistakes then re-file (without prejudice)  Summary Judgement: No questions of fact remaining of the case; trial is not necessary (usually a win for the defendant) o Trial: Evidence presentation and authentication procedure; putting witnesses on the stand for questioning  Voir Dire: “speak the truth”; process of selecting the jury  Opening Statements: Each attorney makes a statement to the jury, summarizing the proof they expect to offer; plaintiff going first  Direct Examination: Lawyer asks questions of their OWN witness  Cross-Examine: Asking questions of the OPPOSING witness to create cause in the jury’s mind  Verdict: Recommendation of the ruling of the court; doesn’t become official until the judge accepts the verdict o Post-Trial: Trial is concluded  Judgement Not Withstanding the Verdict (JNOV)  Filing an appeal; making sure the judge followed the law  Alternative Dispute Resolution (ADR): methods to resolve dispute that are inexpensive, quick, and give parties more control  Negotiation: Parties come to compromise without a third party present (most common)

Mediation: Involves neutral third party to help come to a conclusion  Arbitration: Private judge is neutral third party to come to an legally-binding decision o Enforcement/Collection of Judgement: Defendant is legally required to comply with the judgement terms  If they don’t comply then the judgement can be compelled to do so by seizure/sale of assets The burden of proof in a civil lawsuit: (Preponderance) Plaintiff must convince the jury that it’s version of the case is correct/convince the jury that it’s version of the facts is at least slightly more likely than the defendant’s version The types of relief a court may award (monetary damages, equitable remedies, etc.) An appellate court’s scope of review Discovery tools in a lawsuit: o Deposition: Oral interrogation of potential witnesses o Interrogatories: Written questions for opposing party o Request for Admissions: Request opposing party to admit facts o Request for Production: Submit documents relevant to dispute, physical evidence, and permission to enter land to make an inspection o Request for Examination: (Physical and Mental) o Electronic Discovery: How the contingency fee system operates Summary judgment: Ruling by the court that a trial is not necessary because the essential facts are not in dispute Case law citations: Plaintiff v. Defendant, Volume, book, page, year Regulation of commercial speech --- how/when are such restrictions valid?: Business perspective: Advertising o 1. Any restriction must have a really good reason for restriction o 2. Don’t persuade bad interests (not morally good) o 3. Must go no further than needed (narrowly tailored to the goal) Commerce Clause: Gives Congress the power to regulate commerce with foreign nations and among states (trade of goods so that we have fair trade) Supremacy Clause: Federal law is supreme; in case of conflict between state and federal law, state law is valid Privileges and Immunities Clause: State cannot discriminate to another out of state business Full Faith and Credit Clause: Every state has to honor, recognize, and help enforce any legal contracts made in other states Equal Protection Clause/Due Process Clause: No person shall be deprived of life, liberty, or property without due process of law (5th and 14th amendments) The Tenth Amendment: All power that is not expressly given to congress then the power stays at the state level Constitutional basis for blue laws: Closed for Sundays for church= closed for a day of rest Procedural versus substantive due process: 

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o Procedural: Guarantees adequate notice of claims against you and the right to a fair trial o Substantive: Looks at the content of law and asks: “If the government is restricting fundamental right? Are they doing so out of compelling state interest?” (limiting fundamental rights) The law governing searches and seizures: FOURTH AMENDMENT- requires warrant with probable cause o Evanescent Evidence: evidence in plain-sight (do not need a warrant) The types of protected speech under the First Amendment: Free speech (symbolic), commercial speech, corporate political speech, Ethical duties owed by corporate officers and directors Models of ethical decision-making: Utilitarianism, Deontological, Categorical Imperative, Kantian Evasion, Rawlsian Justice, Moral Universalism, Moral Relativism Ways companies can foster ethical workplaces Foreign Corrupt Practices Act The differences between common law, administrative law, and statutory law: o Common Law: (Lower courts) when a court/judges decides a case tending to apply the legal rules that other courts have used in similar cases o Administrative Law: Administrative agencies created by Congress have the authority to create regulations (DEA) o Statutory Law: Laws created by a legislature that can cover any topic as long as it does not violate the Constitution

Good Luck!...