MGT 2050 Ferguson final exam prep
Deontological Schools of Thought
looks to the acts themselves in determining the ethicality of an action, irrespective of the consequences categorical imperative
In response to the demands of the industrial revolution, some early industrialists engaged in
social welfare activities
Moral Justification
use moral justification as a means of making their conduct seem less blameworthy Most often seen in the context of military action or warfare
What is the foundation of international law?
Sovereignty
The Uniform Commercial Code sets the law regarding the need for a written contract when the sale of goods is valued at over
$500
Which of the following is considered a white collar crime?
Embezzlement
Employees hired in different countries and jurisdictions must follow the rules of the company's home country. (true/false)
False
Creative works are copyrighted for the life of the author plus
70 years
Incrementalism
A bias related to ethical fading How we unconsciously lower our ethical standards over time through small changes in behavior The crossing of ethical lines repeatedly until they become habit
Which of the following can be protected by a patent? (all of these)
A cellphone A car A business plan Software
One-year-rule
A contract that cannot be performed within a year must be in writing
Complete performance
A contract that has been fully performed is deemed complete and is said to have achieved
Locus of control
A key personality concept that explains how one views their relationship with their environment
Receiving a citation by a policeman is a result of violating
A law
Tenancy for years
A lease for a specific period of time
Which of the following contracts is usually required to be in writing (depending on the state)?
A mother agrees to cover the payments for her son's car if he defaults
Agent
A party who agrees to act on behalf of another
Which of the following is true about the risk of loss (ROL)? (true/false)
A person can bear the ROL without owning the property
Contributory negligence
A plaintiff engaging in behavior that contributes to his or her injury may be guilty of
Which of the contracts is required to be in writing?
A prenuptial agreement
Ms. Palsgraf was hit in the head by
A set of brass scales
Which of the following is true of the theory of mistake?
A unilateral mistake is where one party errs.
laws are NOT
Absolute
A business may lawfully use a competitor's trade secret if the competitor acquired it through all of the following ways
Accidentally released information by the original business Reverse engineering Reading published literature Self-invention
A Veil of Ignorance
According to John Rawls when debating the issue of "Is slavery ethical?" decision makers should use
Which of the following is are duties an agent owes a principal? (all of these)
Accounting Loyalty Notification to Principal Obedience Performance
Sovereignty is not a defense against international responsibility when
Actions harm another nation
From a legal standpoint, Malum Prohibitum refers to
Actions that are only prohibited because some law or regulation defines them as being wrong Drug possession
Malum in Se
Actions that are wrong in and of themselves
Using the phrase "At least I am not a serial killer" is an example of which mechanism?
Advantageous comparison
Advantageous Comparison
Advantageous comparison occurs when a person compares their action to something far more heinous "At least I am not a serial killer,"
Isla hires Brodie to work as an HR associate at her firm, BigCorp, Inc. He is bummed that he has to be in at nine and cannot leave till after five, but he has a great deal of freedom in running his area of HR. Brodie is most likely
An employee
If Samantha hires Darren to create an app that will run certain smart aspects of her house, Darren would be
An independent contractor
IRAC "A" =
Analysis The lengthiest portion of the IRAC method summarize the reasoning of the court
Nicomachean Ethics
Aristotle provided early and foundational descriptions of virtue ethics in his seminal work
Which of the following is a reason the dissolution of a partnership by operation of law can occur? (all of these)
Bankruptcy of a partner Illegality of a partnership Bankruptcy of the partnership Death of a partner
An administrative law judge hears the evidence from
Both the agency and the entity accused
Before the Palsgraf v. Long Island RR case, the standard for tort causation was
But-for causation
Freedom of speech
Can cover oral, written, and symbolic speech
Alan tells Sherry that he will pay her $5,000 if she runs the Boston Marathon. Once Sherry starts running the marathon, Alan
Cannot revoke the offer
Owners of a corporation are liable for
Capital investment into the corporation
Usury
Charging too high of an interest rate some states will interpret the contract to not be in violation of the law by reducing the interest rate to the legally allowed level. Each state determines the standards
Disregard of Consequences
Committing an immoral act is easier if the consequences of those acts are somehow removed or not visible to the perpetrator increasing use of drones in military battles instead of fighting in person
Which of the following is are duties a principal owes an agent? (all of these)
Compensation Cooperation Reimbursement Safe work environment
IRAC "C" =
Conclusion explain what conclusion the court came to likely be one sentence that directly answers the question of the issue
In order to live in a peaceful society, people need organizing rules to avoid
Confusion
Which of the following are requirements for creating a partnership?
Create a name Get a local business license File partnership taxes Filing a partnership agreement with the state.
Franchisors are most concerned with protecting
Consistency of franchises
Article 2 of the Uniform Commercial Code covers which type of contracts?
Contracts for the sale of goods
Some argue that the biggest reason corporations must exercise social responsibility in relation to stakeholders is that
Corporations are provided many benefits from society, so they must pay it back.
Keith Davis argues for the "iron law of responsibility." What is this law?
Corporations must act in a socially responsible way or they will lose power in the long run
The D in the FISH SEDER framework stands for
Decide After evaluating the various solutions you created, decide which is the best
Which of the following is an exception to the perfect tender rule? (all of these)
Destruction of identified goods Cure Agreement of the parties Commercial impracticability
When working with stakeholders, which of the following is important? (all of these)
Determine the interests of stakeholders Find stakeholder's motivations Communicate with stakeholders Identify the stakeholders
Trade dress is the image and overall appearance of a product. (true/false)
True
Problems of Negotiation
Enforcement Power disparity Lack of negotiation skills Communication problems
Which of the following is NOT protected by a trademark?
Escalator
Which of the following mechanisms dehumanize a victim? (all of these)
Euphemistic language Moral justification Advantageous comparison
Euphemistic Language
Euphemistic language is used widely to make harmful conduct respectable and to reduce personal responsibility for it shooting a colleague is "friendly fire."
The E(1) in the FISH SEDER framework stands for
Evaluation Utilitarianism/Results (Cost/benefit) Universalism/Rights (respected and violated) Virtue Ethics/Values (upheld and violated) explain^
The Perfect Tender Rule requires that contracts be performed
Exactly as agreed upon with few exceptions
Executives of a corporation
Executives see that the business runs according to the Articles of Incorporation. Executive positions can include secretary and treasurer. Executives carry out the day-to-day operations of a corporation. Executives are subject to the same duty of care in carrying out a corporation's purposes as is the board of directors.
The E(2) in the FISH SEDER framework stands for
Explain Explain how your solution does the following: Maximizes net benefits Respects rights Fairly distributes benefits and burdens Reflects values Adheres to law Why the remaining harms are justifiable
The F in the FISH SEDER framework stands for
Facts Collecting and managing the relevant facts
All stakeholders are equal. (true/false)
False
Data privacy is a human right and is unanimously agreed upon across the world (true/false)
False
It is usually cheaper to not give stakeholders attention and focus on business priorities instead. (true/false)
False
Most businesses do not need to be concerned about international law. (true/false)
False
Which of the following is true of federal courts? (all of these)
Federal courts have 13 circuit courts. Federal courts include the US Supreme Court. Federal courts can hear cases involving admiralty. Federal courts have 94 district courts.
What is personal property that gets attached to the land?
Fixture
Lower courts are supposed to
Follow the rulings of the courts above
What Consideration Is Not
Gifts and Pre-Existing Duties Illusory Promises Past Consideration
Which of the following is NOT a true statement?
Guaranty contracts can be either oral or written.
The World Intellectual Property Organization attempts to
Harmonize intellectual property protections across jurisdictions
The H in the FISH SEDER framework stands for
Harms how each of these stakeholders could be harmed or benefited by the issues involved
Mutual mistake of material fact
If both parties make a mistake about an important element of the subject matter of the contract
Public Law
If either or both participants involved are a government or governmental entity the outcomes are often based far more on political power and influence
Objective intent
In a legitimate offer, to become bound by an agreement the offeror must manifest
Which of the following is true of offers? (all of these)
In order to have a valid agreement, the acceptance must be unequivocal. The silence of an offeree is not acceptance. Acceptance may be communicated to the offeror by any reasonable manner. The offer must have express terms.
Which duty requires a principle to cover the agent for possible torts?
Indemnification
A major assumption in economics as applied to decision making is that
Individuals are rational in decision making
In the case Janus v. AFSCME, the court debated
Infringed First Amendment rights
A holistic stakeholder theory must have all of the following elements
Instrumental Normative Descriptive Thoughtful
A court may pierce the corporate veil when the corporation
Is not sufficiently distinct from a shareholder
IRAC "I" =
Issue look to see what it is that the court is trying to decide often presented as a single sentence and is phrased in the form of a question
The I in the FISH SEDER framework stands for
Issues identify and understand what the ethical issues really are in a situation
Which of the following is true of the U.S. Constitution? (all of these)
It enumerates and protects citizens' rights. Every law in the US must comply with the Constitution. It establishes three branches of government.
Which of the following is true of an agency relationship? (all of these)
It is a legally binding agreement. The agent has the power to act to the extent authorized by the principal. The principal authorizes the agent to work on his or her behalf. The relationship is based on fiduciary duties.
Which of the following is true of a contract? (all of these)
It is between two or more people. It is a promise. It is enforceable. It can be a single promise or a set of promises.
Which of the following is true of moral education? (all of these)
It sensitizes a person to moral issues and creates greater empathy with the various parties involved in moral conundrums. It helps a person focus on moral issues and think through moral problems. The most effective method of gaining moral education is moral training.
One problem that quickly arises when determining governing law in an international situation is
Jurisdiction
Real property
Land and the buildings attached to the land are considered
Moral judgments, decision making, and actions differ from moral reasoning and justification because
Moral reasoning and justification are more deliberative and conscious
The core of Gilligan's arguments is that
Men and women focus on different things while making moral decisions
Which of the following is true of causation? (all of these)
Modern courts primarily rely on the proximate cause test. Foreseeability limits liability in the proximate cause test. The but-for test states that the injury would not have occurred, but for the actions of the defendant. It must be shown that the plaintiff's injury is caused by a breach of the duty of care.
Grounds for canceling a contract
Mutual mistake of fact Undue Influence Duress Fraud
What are the 2 Schools of Jurisprudential Thought?
Natural Law Legal Positivism
Which of the following is true of copyright?
No notice of ownership is necessary to protect and original work. Copyrights can be owned by individuals or business entities. Copyrights protect the tangible representation of an idea, not the idea itself. A copyright is the exclusive right to reproduce, distribute, and/or license original creative works.
n 2020, Eric wants to gain the attention and favor of a local real estate developer Ronald Spade. Though Eric is not an agent of Spade, he acts as though he is and convinces a local property owner to sell their property to Spade, even though Eric has no authority to make this contract. When Spade is presented with the deal he likes and accepts it, claiming that both he and the property owner are bound by the contract. Can the property owner void the contract?
No, because agency was created through ratification
Jolene purchases computers from Dolly and includes in the sales contract that the computers be delivered by Fedex. Dolly finds that Fedex cannot ship the delivery in the timeframe required by the contract, so she ships with the US Postal Service instead. Can Jolene reject the shipment as a violation of the perfect tender rule?
No, because change of shippers is an exception to the perfect tender rule
Professor Fearsome is headed to the university to teach his business law class. On his way he is distracted by thinking big thoughts about his business law class and causes a wreck. Will his employer, the university, be liable for this wreck?
No, because of the coming and going doctrine
Tally was driving through a small town with Post Malone playing loudly when she was pulled over and ticketed for playing dangerous music. She had no idea her music was illegal in the town. Ignoring the First Amendment issues and similarities to the movie Footloose, does she have a defense against this ticket?
No, due to mistake of law
Thomas is focused on a deontological approach to what is best for stakeholders. What element of stakeholder theory is Thomas addressing when looking at these ethical questions?
Normative
The definition of stakeholders is
Not easily defined
When discussing Mens Rea, negligence is known as
Not exercising the care a reasonable person would in a specific situation
The ethical dilemmas during the Holocaust is an example of
Obedience to authority Conformity bias Role morality
non-disclosure agreement
One way businesses attempt to protect trade secrets a legal agreement where the employee agrees not to disclose the secrets or face stiff penalties
In the Haidt metaphor of the elephant and the rider, what does the elephant represent?
Our emotional, automatic, and instinctive self How we do not always behave or act rationally
The choice of business structure determines
Owner liability Difficulty or raising capital Ease of formation Tax liability
Triple bottom line approaches to business priorities refer to
People, profit, and place
Which of the following may an offeree do? (all of these)
Present a counter offer Reject an offer Accept an offer Revoke an offer
Breanna and Trayvon have been doing business for several years, with Trayvon purchasing Breanna's surgical masks every week. When their latest sales contract came through, Trayvon only filled out the quantity, leaving the purchase price blank. Breanna shipped the order and invoiced Trayvon. How will the price be determined?
Price will be based on industry standards.
The role of silent partners in a limited partnership is to
Provide capital investment
The R in the FISH SEDER framework stands for
Reflect often overlooked spend time learning from and reflecting on the ethical decisions you have made in the past to improve your ethical decision making in the future
When the FBI asked Apple to unlock an iPhone belonging to Syed Rizwan Farook, Apple
Refused to unlock the iPhone
The Hippocratic oath
Requires certain professionals to uphold certain ethical standards Is an ancient Greek oath Is a voluntary code of conduct
Yasmin purchases a part that she needs to restore her '66 Mustang from Ingrid. The part was damaged during shipping, but no agreement was made prior as to who would bear liability in case of damage. Based on the Connecticut v. Cardwell case, the default is a ________ contract and therefore the risk of loss falls to ________.
Shipment, Yasmin
Heuristics can be problematic because
Reduce awareness of ethical decision-making errors Limit awareness in dangerous situations Limit awareness of ethical dilemmas
IRAC "R" =
Rule standard to provide objective criteria by which to make their decision should be stated as neutrally as possible and not be stated as a conclusion of law
Which of the following crimes did Enron commit (as far as anyone knows)?
Securities fraud Misrepresentation Money laundering Wire fraud
For a jury to be impaneled means that the jury is
Selected
Codes of Conduct
Sets of rules or guidelines outlining social norms, expectations, and responsibilities for a particular group or organization
The S(2) in the FISH SEDER framework stands for
Solutions Develop at least two alternatives to resolve the ethical problem or issue
Spaulding v Zimmerman
Spaulding likely suffered an aortic aneurysm during the accident The doctor who examined Spaulding as well as Zimmerman's defense team failed to notify Spaulding of his condition It was later decided in the Minnesota Supreme Court that Zimmerman's lawyer had no legal obligation to disclose the life-threatening information
The S(1) in the FISH SEDER framework stands for
Stakeholders all of the people who will be affected by the actions of those involved
Selective moral disengagement
Stanford psychologist Albert Bandura used his work in social cognitive theory people will use six different mechanisms to disengage their internal morality so that they can justify and assuage their guilt for actions they recognize as immoral
What is a good resource to help a company wanting to work in international environments?
State World Trade Centers
Personal property
Tangible property (clothes, car, Xbox) and intangible property (intellectual property, stock)
Which of the following contributes to the structure of the Constitution? (all of these)
The Preamble Seven Articles 27 Amendments
Which of the following is true concerning a verdict? (all of these)
The court enters an official judgment in accordance with the jury verdict. The verdict is the complete finding and conclusion of the issues presented. If a judge discovers bias or jury misconduct, the judge may reject the verdict. The jury must deliberate before reaching a decision.
What is a title?
The documentation of legal ownership of property
Duty of care
The first and central element of a negligence tort claim the obligation one person owes another to not unreasonably harm or put at risk of harm
Which of the following is associated with the shared value paradigm? (all of these)
The goal is to benefit both business and community. It is focused on long term v. short term benefit. It attempts to increase the size of the economic and resource pool. It was created by Porter and Kramer.
Immanuel Kant
The idea that became known as the categorical imperative was started by
At the conclusion of a trial
The judge may override the decision of the jury in rare cases
Rational bias
The least stringent form of scrutiny
In the following citation: A.L.A. Schechter Poultry Corp. v. United States, 295 U.S. 495 (1935), "United States" is the
The party the case is being brought against
Majority opinion of the Supreme Court:
The ruling that other courts must follow
Which of the following is associated with Milton Friedman? (all of these)
The single-minded pursuit of profits is the only social responsibility that business needs to concern itself with. Social responsibility beyond shareholder profits is the purview of the stockholders themselves. The most important social responsibility a corporation has is to its stakeholders. The social responsibility of corporations is to make as much money as possible for stockholders.
The purpose of Stanley Milgram's experiment was to observe
The teacher
Causation
The third element of a negligence claim the plaintiff must show that the breach of the duty of care is the cause of the injury suffered by the plaintiff
Corporate bylaws
They are created after the corporation is created. They may contain rules on how the corporation will engage with government officials. They are binding on directors of the corporation. They are not required to create a corporation.
How did the crew aboard the yacht Mignonette survive?
They killed one of the crew members and consumed his flesh and blood.
Why are stakeholder policy documents important to a business?
They require decision-makers to remain cognizant of stakeholders.
Natural law philosophy
Thomas Aquinas's idea that each person has been provided the tools to discover and obey naturally occurring truths
When is parole evidence allowed?
To determine if fraud was present
A property owner owes an invitee all the following duties
To reasonably re-inspect for dangers To inspect for dangers To repair dangerous situations To warn the invitee of a dangerous situation
Critics of utilitarianism and other teleological approaches claim that the school of thought is
Too dismissive of individual rights
The closest thing to codified laws in international law are
Treaties and conventions
Most larger companies have policies for working with stakeholders. (true/false)
True
Physical development is necessary when moving through the lower stages of development (true/false)
True
Some people may be doing business internationally without even knowing it. (true/false)
True
Substantial performance rule governs common law contracts. (true/false)
True
The Bhopal disaster response did NOT involve which of the following?
US EPA regulators
Rescission
Undoing a contract
A reason the legitimacy of a contract agreement may be challenged
Undue influence Fraud Confusion Mistake
Contracts are said to violate public policy if they include any of the following?
Unequal bargaining power Excessive non-competition restrictions Broad exculpatory clauses Unfair terms
Non-contract interest rates in excess of 10 percent are illegal in Utah. If someone were to charge more, they would be guilty of
Usury
When considering the long and short term consequences of solutions, you should use which frameworks? (all of these)
Utilitarianism/Results Virtue Ethics/Values Universalism/Rights
According to Archie Carrol, corporate responsibilities
Vary in importance and relationship to the survival of the corporation
In the following citation: A.L.A. Schechter Poultry Corp. v. United States, 295 U.S. 495 (1935), "295" is the
Volume of the reporter where the case can be found
A gift
Voluntary transfer of property without remuneration
Morris works for a local restaurant. He is required to get to work early to get his temperature checked and fill out a wellness check to make sure he is ok to work. His employer does not allow him to clock in until his pre-checks are all done. Which crime has Morris' employer committed?
Wage theft
In 2012, Facebook conducted an experiment on 700,000 users that
Was legal
When can the defendant move for a directed verdict?
When there is not enough evidence to find in favor of the plaintiff
Which causes the most damage in terms of dollars annually?
White-collar crime because it costs over $1 trillion annually
Dissenting opinion
Written when some justices disagree with both the reasoning and the conclusion that the majority came to
Concurring opinion
Written when some justices of the court agree with how the case should ultimately be decided but disagree about the reasoning process used to get to that conclusion
Can real property be converted to personal property?
Yes, if it is removed from the land it was attached to
Private Law
a legal conflict arises between two private individuals or entities
Mens Rea
a person have some level of intention to act in a harmful way in order to be guilty of a crime Different levels: 1.Purposeful action: 2.Recklessness: 3.Negligence: 4.Strict Liability:
Stage three
a person looks to their immediate family and friend group for acceptance and validation
Stage one
a person makes ethical choices solely to avoid punishment
Script
a series of behaviors, actions, and consequences that become routine or expected in a particular situation or environment
The UN Global Compact is
a set of principles designed to help companies worldwide be a force for good
Actus Reus
act of committing a crime an action based on that intent on the part of the accused is required requires voluntary action
Natural Law
all persons have inalienable, natural rights there exists a higher or supreme universal law that can be found and studied reflected in the U.S. Constitution, the Universal Declaration of Human Rights, and the United Nations Charter
Consideration
anything of value that parties exchange as the purpose of a contract.
Target is an example of
arbitrary trademark
Internal locus of control
believe that their actions and decisions create the outcomes they get "i got an F on the test because i didn't study"
Displacement of Responsibility
claim an abdication of their moral judgment in favor of some authority figure "I was following orders"
Attribution of Blame
classic method of dehumanizing involves shifting the blame from the perpetrator of an action to the recipient of the action blaming sexual assault on the way a woman is dressed
Greenwashing
companies would attempt to hide or distract from negative practices by pointing out other positive practices that were little more than window dressing
close corporation
dependent on the state, but shares are limited to 50 or fewer shareholders and shares are only available to some, not publicly traded
External locus of control
feel as though their circumstances control them "My teacher gave me an F on the test bc they hate me..."
prima facie case
enough evidence to go forward with trial most basic level of proof
Franchise
established when one party licenses another party for use of its trade name, trademarks, commercial symbols, patents, and other property in the selling of goods and services
A purchase
exchange of property for value (usually money) is known as
Stage two
focused not only on the punishment that will result, but also looks to the rewards a person receives from engaging in moral behavior
Virtue Ethics
focuses on the motivations and character of the person these virtues define the core of a person
The Lanham Act
governs trademark protection
Criminal Law
harm or injustice against all the people in the jurisdiction
A licensee is someone who
has the property owner's permission to be on the property
Fiduciary Duty
highest form of duty in a business relationship, and it means that each partner must put the interest of the partnership ahead of their own interests No self-dealing: No usurping an opportunity: No competing: No secret profits: Confidentiality: No misuse of partnership property:
Post-Conventional Level
highest level of moral development don't just follow the laws in place, but in some cases supersede the law, often creating new paradigms of ethical decision making
Moral Standard
how an individual judges moral situations
Strict Scrutiny Test
if a law treats people differently based on what is called a suspect class (usually race or ethnicity) or involves a constitutional right (freedom of religion, right to a trial, and so on) it will be constitutional only if designed to achieve a compelling state interest(usually health, safety, or the welfare of people)
Which of the following is true of joint and several liability in a general partnership? (all of these)
if the partner who committed the tort is released from the partnership, the other partners are still liable. A partner who goes bankrupt cannot be responsible for their portion of the partnership. If only one partner committed the tort, the partners can be jointly sued. Every partner is personally liable for the entirety of any liability.
Patagonia claims that its focus is on ________, even if that is not profitable in the short-term.
improving the environment and lives of its workers
alien corporation
incorporated and does business in one country, but also does business in another country
Diffusion of Responsibility
instead of an authority figure, the actor is claiming that the moral action was not their responsibility driving past a car wreck instead of stopping to help
Legal Positivism
laws are human creations that reflect the reality of human existence in that moment laws are human constructions created by those who have been put into authority
Rational Basis Test
least stringent form of scrutiny It will allow for the treatment of citizens in a disparate way in matters of economic or social welfare if there is a justifiable reason or a rational basis for the government action
Civil Law
maintain order and justice between citizens in the US system focuses on disputes between private parties or groups, though governmental actors or agencies can also be involved
Corporate officers
makes decisions regarding the day-to-day operations of a corporation
The Limited partner of a limited partnership
may invest capital, but may not participate in the management of the business
preponderance of the evidence
must be met to find someone liable in a civil case the plaintiff is more likely than not correct in their assertion than the defendant is in their defense
Howard Bowen's definition of social responsibility concluded that businesses and large corporations
must take broader societal objectives and values into consideration while conducting business
What duty does a property owner owe a trespasser?
no duty to a trespasser with three exceptions.
Stage six
no longer be concerned with current systems of rules but would instead seek to change the paradigms of ethical understanding to create whole new types of universal ethics for all people Some theorize this would apply to people like Jesus, Gandhi, or Buddha.
foreign corporation
one that is incorporated in one state but then does business in other states or countries
domestic corporation
one that is incorporated in the same state that it does business in
The Industrial Revolution was in response to
poverty long hours poor working conditions
Burdens of Proof
prima facie case preponderance of the evidence beyond a reasonable doubt
Teleological schools of thought
primarily concerned with the outcomes of actions judge an action's morality on whether the results of the action are good Utilitarianism is the best known and most often referenced teleological theory
Moral justification
relies on justifying violent and atrocious behavior behind the veil of working toward some higher or more noble good
Kohlberg's Theory of Moral Development
represent the progression of moral development that people can go through in life 2 stages at each level
beyond a reasonable doubt
required to find someone guilty in a criminal trial no reasonable person would be able to doubt what the prosecutor has presented
Legislative rules
rules that govern activities that the agency has authority over
Stage four
see beyond their immediate peer group and look to the broader rules of society and understand that these rules are beneficial follow the laws and rules of society in an effort to be a good citizen.
Notification
the agent must inform the principal of any information relevant to the agency relationship
Directed verdict
the court to decide in his or her favor without having to present his or her defense If at the end of the case, a plaintiff has not established the facts and law to support her/his claim, the defendant may make a motion for
Articles of incorporation
the document that must be filed with the secretary of state of the state of incorporation to create a corporation It provides the governing structure and guidelines for the corporation
Life estate
the grant of an interest in real property until that person's death
Strict liability
the law holds that some activities are of such a dangerous nature that, even if reasonable care is exercised, the party conducting the activity will be liable for any injuries incurred therefrom
Conventional Level
the level most adolescents and adults achieve understand that something is right or wrong conceptually and not just respond to basic stimuli
Pre-Conventional Level
the most basic and least sophisticated level of moral reasoning Often associated with children, at this level a person tends to focus on ethics only to the extent that it impacts their immediate pleasure or happiness ethical choices solely to avoid punishment
Fee simple determinable
the ownership interest in land that lasts until a specific event occurs
Fee simple absolute
the ownership of property with no limitation or inheritability
Real estate
the partnership must be in writing if the object of the partnership involves
The secret recipe for Coca-Cola is an example of a
trade secret
Stage five
understand that laws play a role in society but are willing to break the law if it is seen as morally lacking or wrong
Intermediate Scrutiny Test
when a law treats people differently based upon classifications that are protected but do not rise to the level of suspect class (usually gender or age), the law has a lower threshold to meet in order to be ruled constitutional
Cognitive dissonance
when a person is confronted with something that does not fit into or coincide with their previously held understanding of the world