Final study set Bus&201

Determining employee status (c.34)

1. How much control can the employer exercise of over the details of the work? 2. Is the worker engaged in an occupation or business distinct from the employer? 3. Is the work done under the employer's direction or by a specialist? 4. Does the employer supply the tools at the place of work? 5. For how long is the person employed? 6. What is the method of payment-by time period or or at the completion of job? 7. What degree of skill is required of the worker?

Chapter 7 schedules (c.22)

1. assets 2. debts 3. income 4. expenses

Deficiency judgements bear interest at (c.21)

12%

Judicial lien bears interest at (c.21)

12%

In a lawsuit served in WA, how many days does a defendant have to respond?

20

The maximum period for a debtor to pay off assets under Chapter 13 bankruptcy is?(c.23)

5 years

Forged checks [UCC 3-403(a)] (c.20)

A forged signature on a check has no legal effect as the signature of a customer-drawer

Debtor (c.21)

A person who owes payment or other performance of a secured obligation

Independent contractor (c.23)

A person who works for or receives payment from an employer but whose working conditions and methods are not controlled by the employer, thus, is not an employee but me be an agent.

Prior to searching a citizen, the police must first obtain

A warrant

With regard to consideration, courts are reluctant to determine

Adequacy of consideration because adequacy is what others think whereas sufficiency is what the courts think

Security agreement

Agreement that creates or provides for a security interest [UCC 9-102(a)(73)] AKA. The contract in which a debtor agrees to give a creditor the right to take this or her property in the event of a default.

Agent (c.23)

Agrees to represent or act for the principal

What contract proceeds can be assigned

All three: funds, goods, and land

What will happen to cases for civil damages under $100,000.00 in Pierce County Superior Court?

Arbitrated

Agency Relationship (c.20)

Arises between the customer and the bank when the customer writes a check. One party (agent) agrees to represent or act for the other party (principal).

Availability of funds (c.20)

Banks manage funds through deposits, loans, and other financial instruments. Access to funds is subject to compliance with regulatory requirements, loan agreements, and the terms of deposit accounts.

Suretyship (c.21)

Both are equally liable and the creditor does not have to go to any debtor first

Stale checks (c.20)

Check that is presented for payment more than 6 months from its date. Banks are not obligated to pay an uncertified check presented more than 6 months from its date

What defense allocates partial blame on the plaintiff

Comparative fault

Secured party (c.21)

Creditor who has a security interest in the debtor's collateral

When is an offer terminated? (Double check)

Damage of item, death of party, a reasonable time to accept has passed, or a counteroffer was made

When a party seeks to enforce a liquidated damages provision, the court will make sure at the onset of the assignment that:

Damages were difficult to estimate, damages amount was a reasonable amount, and the parties agree

Perfection by filing

Debtors name must be accurate [UCC 9-502(a(1)]

To which tort is trust a complete defense?

Defamation, libel, and slander

What occurs when a third party accepts responsibility for a contract and releases the other party?

Delegation

Name the fourth forms of discovery that can be pursued in a lawsuit

Depositions, interrogatories, admissions, and request for documents

What element of a negligence claim provides the standard of conduct?

Duty

When an employee takes the company car out on a date without permission, they have committed

Embezzlement

How can a plaintiff obtain personal jurisdiction offer a defendant who is not residing in Washington?

Employ the Long Arm statute

What is the best defense where the police induced the person to commit a crime they might not otherwise have been predisposed to commit?

Entrapment

When might a contract not be enforced as unconscionable?

Fair for lack of consideration

A summons tells a person why they are being sued

False, a complaint tells them the reason why they're being sued

When a party submits to mediation, the mediator will render a decision either for or against them

False, a mediator offers a suggestion unless it the case was arbitrated and parties agreed that the answer would be legally binding

A complaint informs a person that they are being sued

False, a summons is what lets them know that they are being sued

Punitive damages are allowed in Washington as a punishment for predatory conduct

False, punitive damages are not allowed under RCW unless legislation changes

What are the four primary civil courts in Washington State

Federal Court, Small Claims, District Court, and Superior Court

Agency (c.23)

Fiduciary relation that the other shall oact in his or her behalf and subject to his or her control. Is consented from both parties

What crime effects businesses

Forgery

What is the term for when someone lies to induce another to enter into a contract

Fraud

What are the elements a plaintiff must prove to support the presentment of an implied contract?

Furnished a service, anticipated payment, and a chance to reject

Principal (c.23)

Has the right to control the agent's conduct in matters entrusted to the agent

Payment after death (c.20)

If a bank is unaware that a customer who wrote a check has been declared incompetent or has died, the bank can pay the item without incurring liability or if they knew, for up to (10) days after their date of death

Consumer funds transfers (c.20)

If a consumer's debit card is lost or stolen and used without his or her permission, the customer will be required to pay no more than $50 if he or she notifies the bank of the loss or theft within two days of learning about it. Otherwise, the liability increases to $500. The customer may be liable for more than $500 if he or she fails to report the unauthorized use within 60 days after it appears on the customer's statement. This does not apply if a customer voluntarily gives her or his debit card to another who then uses it improperly.

Financing statement

Instrument normally filled to give public notice to third parties of the secured party's security interest [UCC 9-102(a)(30)]

Creditor-Debtor Relationship (c.20)

Is created when a customer deposits into a checking account (customer - creditor) (bank - debtor) for amount deposited

Chapter 7 bankruptcy does what? (c.22)

Liquidates all non-exempt assets (necessary items to survive)

What is the Latin term for the bad intent the state must prove in a criminal case

Mens Rea

What are the implied warranties under a sales contract?

Merchantability, and fitness for use

What defense requires a plaintiff to make sure the harm caused by negligence is the least amount practical?

Mitigation

Description of goods

Must be accurate and determinative

For what contracts can a minor be held responsible

Necessaries

Stop payment orders (c.20)

Order by a customer to his or her bank not to pay or certify a certain check (14 days orally) (6 months written)

What rule prevents oral testimony that contradicts a written contract

Parole evidence

In order for a (federal) court to hear a case, the plaintiff must show

Parties reside in different states and $75,000.00 is being disputed

Fiduciary definition (c.23)

Person having a duty who works or receives payment primarily for another's benefit in matters connected with the undertaking.

To which contracts does the Statute of Frauds apply?

Purchase of a home, buying most cars, and agreeing to pay your brothers loan

How do you provide a secured deal for real estate? (c.21)

Real estate is secured with a deed of trust filed with the County Auditor

What behavior standard does a judge or jury use to compare the conduct of a defendant in a negligence action to establish liability/fault?

Reasonable person

In order for recovery under a tort claim, the consequences of the wrongful conduct must be

Reasonably forseeable

PMSI (Purchase Money Security Interest)

Security interest that arises when a seller or lender extends credit for part or all f the price of goods purchased by a buyer

Purchase Money Security Interest (PMSI) (c.21)

Security interest that arises when a seller or lender extends credit for part or all of the price of goods purchased by a buyer

Contractual duties cannot be delegated when

Special skills are involved, special trust is placed on a party, performance might vary, and the contract prohibits it

Check (c.20)

Special type of draft that is drawn on a bank, ordering the bank to pay a fixed amount of funds on demand [UCC 3-104(f)]

What is the equitable remedy when a party sues to compel the defendant to sell them the item they purchased?

Specific performance

What are the primary sources of law in Washington State?

State constitution, RCW, and WACs

What law requires some contracts to be in writing to be enforceable

Statute of Frauds

Collateral (c.21)

Subject of the security interest

Collateral

Subject of the security interest [UCC 9-102(a)(12)]

Perfection by filing (c.21)

The Debtor's name must be accurate under [UCC 9-502)(a)(1)]

Security agreement (c.21)

The contract in which a debtor agrees to give a creditor the right to take his or her property in the event of default

Priorities (c.21)

The first security interests are the priority security interests

Financing statement (c.21)

The instrument normally filled to give public notice to third parties of the secured party's security interest

Security interest

The interest in the collateral (personal property or fixtures) that secures payment or performance of an obligation

Security interest (c.21)

The interest in the collateral (such as personal property or fixtures) that secures payment or performance of an obligation.

A unilateral mistake might be applied

To a math error, and when the other party knew you made a mistake

Stare decisis requires courts to follow case law in rendering decisions

True, it is pretty much referring to precedent

A bank must re-credit a customer's account when the bank pays a check on which the drawer's signature is forged (c.20)

True. If the holder is an HDC, then the bank is liable for damages directly related to the forged check

When someone overcomes the free will of another with a person in a trusting relationship, the contract might be avoided using the defense of

Undue influence

Sale of collateral (c.21)

Usually occurs on the default of loans

What is the term for a convenient location (i.e. county) for a court to adjudicate a case?

Venue

What effect does a counter offer have on the original offer (non-sales)

Voids the offer

Bank's Duty to Honor Checks [UCC 4-402(b)] (c.20)

When a drawee bank wrongfully fails to honor a check, it is liable to its customer for damages resulting from its refusal to pay.

Comity

When a state or jurisdiction respects the laws and judicial decisions of other jurisdictions under international law if rules are similar to where jurisdiction takes place.

Customer negligence (c.20)

When the customer's negligence substantially contributed to the forgery, the bank normally will not be blighted to re-credit the customer's account for the amount of the check [UCC 3-406]

Mechanics lien (c.21)

a non possessory lien acquired only through improvement of real estate

Artisan Lien (c.21)

a possessory lien acquired through services to personal property

Contractual Relationship (c.20)

a relationship with an enterprise involving certain rights and duties

Description of goods must be (c.21)

accurate and determinative

Automatic stay (c.22)

break in trying to collect debt by suspending debt

A secured party may retain the collateral unless (c.21)

it consists of consumer goods and the debtor has paid 60% or more of the purchase price or loan amount

Meeting 341 (c.22)

meeting for questions under oath about properties and assets using the 4 questions (assets, debts, income, and expenses)

Guaranties (c.21)

must first try to collect from the debtor, then guarantor

Chapter 13 bankruptcy does what? (c.22)

offers repayment by reinstating or finding ways of coming to an agreement such as goals to find ways to pay (secured creditors are prioritized)

Writ of Execution (c.21)

orders the directs the sheriff to seize (levy) and sell any of the debtor's nonexempt real or personal property

Writ of Garnishment (c.21)

permits creditor to collect a debt by seizing property of the debtor that is being held by a THIRD PARTY

Chapter 11 bankruptcy (c.22)

reorganization

Supplemental Proceedings (c.21)

series of questions that is first served that a person has to go to a specific location to talk about people otherwise they would have a court issue a bench warrant (order for arrest)

Certificate of Title; anything with a VIN is filed with (c.21)

the Washington State Department of Licensing

For machinery and inventory, you fill out a UCC-1 file and file it to (c.21)

the Washington State Department of Licensing

To track items without a VIN (c.21)

the debtors name must be accurate and asset must have a description

Checks bearing forged Indorsements will create a loss on (c.20)

the first person to take the check