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
