Details

Title: Business Law

Description: Ch. 7-8, 49-51

Total Flash Cards: 104

Created: 03/04/2010 19:26:37

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Additional Business Flashcards

Cards in this set:

Term
Intentional infliction of harmful or offensive bodily contact.
Definition
Battery
Term
Intentional infliction of apprehension of immediate bodily harm or offensive contact
Definition
Assault
Term
Intentional confining of a person against their will
Definition
False Imprisonment
Term
Extreme and outrageous conduct intentionally or recklessly causing severe emotional distress
Definition
Infliction of emotional distress
Term
False communication that injures a person's reputation
Definition
Defamation
Term
Written or electronically transmitted defamation
Definition
Libel
Term
Spoken defamation
Definition
Slander
Term
Truth, absolute privilege, conditional privilege, and constitutional privilege are defenses to a defamation action
Definition
Defenses
Term
Unauthorized use of a person's identity
Definition
Appropriation
Term
Unreasonable and offensive interference with the seclusion of another
Definition
Intrusion
Term
Offensive publicity of private information
Definition
Public disclosure of private information
Term
Offensive and false publicity about another
Definition
False light
Term
Appropriation includes which of the following:
A. Publicity
B. Private Facts
C. Offensiveness
D. Falsity
Definition
A. Publicity
Term
Intrusion includes which of the following:
A. Publicity
B. Private Facts
C. Offensiveness
D. Both B & C
Definition
D. Both B & C
Term
Public disclosure excludes which of the following:
A. Publicity
B. Private Facts
C. Offensiveness
D. Falsity
Definition
D. Falsity
Term
False light excludes which of the following:
A. Publicity
B. Private Facts
C. Offensiveness
D. Falsity
Definition
B. Private Facts
Term
Land and everything attached to it.
Definition
Real Property
Term
Wrongfully entering land of another, or an intentional taking or use of another's personal property.
Definition
Trespass
Term
A nontrespassory interference with another's use and enjoyment of land
Definition
Nuisance
Term
Property other than land
Definition
Personal Property
Term
intentional exercise of control over another's personal property.
Definition
Conversion
Term
intentionally causing one of the parties to a contract not to perform.
Definition
Interference with Contractual Relations
Term
publication of false statements about another's property or products.
Definition
Disparagement
Term
a false statement, made with knowledge of its falsity, intended to induce another to act.
Definition
Fraudulent Misrepresentation
Term
a person may not recover for injury to which he willingly and knowingly consents.
Definition
Consent
Term
a person may take appropriate action to prevent harm to himself where time does not allow resort to the law.
Definition
Self-defense
Term
conduct that falls below the standard established by law for the protection of others against unreasonable risk of harm.
Definition
Negligence
Term
degree of care that a reasonable person would exercise in a given situation.
Definition
Reasonable Person Standard
Term
except in special circumstances, no one is required to aid another in peril.
Definition
Duty to Act
Term
Children and those with a physical disability must conform to conduct of a reasonable person of like:
A. Age
B. Intelligence
C. Experience
D. All of the above
Definition
D. All of the above
Term
In an emergencies, the reasonable person standard applies, but the emergency is considered part of the ---
Definition
Circumstance
Term
permits the jury to infer both negligent conduct and causation.
Definition
Res Ipsa Loquitur
Term
no liability if defendant could not reasonably have anticipated injuring the plaintiff or a class of persons to which the plaintiff belongs.
Definition
Forseeability
Term
an intervening act that relieves the defendant of liability.
Definition
Superseding Cause
Term
failure of a plaintiff to exercise reasonable care for his own protection, which in a few States prevents the plaintiff from recovering anything.
Definition
Contributory Negligence
Term
damages are divided between the parties in proportion to their degree of negligence; applies in almost all States.
Definition
Comparative Negligence
Term
plaintiff's express consent to encounter a known danger, some states still apply implied assumption of the risk.
Definition
Assumption of Risk
Term
liability for nonintentional and nonnegligent conduct.
Definition
Strict Liability
Term
Physical objects
Definition
Tangible Property
Term
property that does not exist in a physical form.
Definition
Intangible Property
Term
land and interest in land
Definition
Real Property
Term
personal property so firmly attached to real property that an interest in it arises under real property law.
Definition
Fixture
Term
An example of real tangible property is:
A. Land
B. Building
C. Fixtures
D. All of the above
Definition
D. All of the above
Term
Intangible personal property include all of the following except:
A. Commercial paper
B. Stock certificates
C. Contract Rights
D. Easements
E. Copyrights
F. Patents
G. None of the above
Definition
D. Easements
Term
transfer of property for a price.
Definition
Sale
Term
transfer of property without consideration (price).
Definition
Gift
Term
right to property acquired upon death of the owner.
Definition
Will
Term
right of a property owner to any increase in such property.
Definition
Accession
Term
intentionally disposed of by owner; finder is entitled to the property.
Definition
Abondoned Property
Term
unintentionally left by owner; the finder is generally entitled to the property.
Definition
Lost property
Term
intentionally placed by the owner but unintentionally left; the owner of the premises is generally entitled to the property.
Definition
Mislaid Property
Term
coins or currency hidden or concealed by the owner for such a length of time that the owner is probably dead or undiscoverable.
Definition
Treasure Trove
Term
contractual arrangement that distributes risk of loss among a large number of members through a company
Definition
Insurance
Term
fire & property insurance protects against loss due to fire or related perils.
Definition
Coverage
Term
insurance in which a person insures property for less than its full or stated value and agrees to share the risk of loss.
Definition
Co-insurance
Term
fire contained in its intended location.
Definition
Friendly Fire
Term
any fire outside its intended or usual location
Definition
Hostile Fire
Term
covers full value of property as agreed upon by the parties at the time the policy is issued.
Definition
Valued Policy
Term
covers fair market value of property as calculated immediately prior to the loss.
Definition
Open policy
Term
a financial interest or a factual expectancy interest in someone's property that justifies insuring the property; the interest must exist at the time the property loss occurs.
Definition
Insurable Interest
Term
amount to be paid for an insurance policy.
Definition
Premium
Term
false representation of a material fact made by the insured that is justifiably relied upon by the insurer; enables the insurer to rescind the contract within a specified time.
Definition
Misrepresentation
Term
the failure of a required condition; generally an insurer may avoid liability for a breach of warranty only if the breach is material.
Definition
Breach of Warranty
Term
fraudulent failure of an applicant for insurance to disclose material facts that the insurer does not know; allows the insurer to rescind the contract.
Definition
Concealment
Term
an insurer intentionally relinquishes the right to deny liability.
Definition
Waive
Term
an insurer is prevented by its own conduct from asserting a defense.
Definition
Estoppel
Term
an insurance contract may be terminated by due performance or cancellation.
Definition
Termination
Term
the temporary transfer of personal property by one party to another .
Definition
Bailments
Term
storer of goods for pay; must exercise reasonable care to protect the stored goods and deliver them to the proper person.
Definition
Warehouser
Term
security interest by possession.
Definition
Pledge
Term
an instrument evidencing ownership of the document and the goods it covers.
Definition
Title
Term
document issued to the shipper by the carrier (1)­as a receipt for the goods, (2)­as evidence of their carriage contract, and (3)­as a document of title.
Definition
Bill of Lading
Term
a person who negotiates or transfers a document of title for value, other than a collecting bank or other intermediary, incurs certain warranty obligations unless otherwise agreed.
Definition
Warranties
Term
In an instance of a missing or lost title the claimant:
A. could apply for a court issuing of a substitute document
B. obtain another substitute document from claimer
C. nothing could be done
Definition
A.
Term
right to immediate possession of real property for an indefinite time.
Definition
Fee estates
Term
absolute ownership of property
Definition
Fee simple
Term
ownership subject to its being taken away upon the happening of an event.
Definition
Qualified Fee
Term
ownership right in property for the life of a designated person, while remainder is the ownership estate that takes effect when the prior estate terminates.
Definition
Life Estates
Term
grantor's right to property upon termination of another estate.
Definition
Reversion
Term
are of two kinds: vested remainders (unconditional remainder that is a fixed, present interest to be enjoyed in the future) and contingent remainders (remainder interest conditional upon the happening of an event in addition to the termination of the preceding estate).
Definition
Remainders
Term
both (1)­a contract for use and possession of land and (2)­a grant of an estate in land.
Definition
lease
Term
owner of land who grants a leasehold interest to another while retaining a reversionary interest in the property.
Definition
landlord
Term
possessor of the leasehold interest in the land.
Definition
Tenant
Term
lease consisting of specific terms that continue in indefinite succession.
Definition
Periodic Tenancy
Term
lease that is terminable at any time.
Definition
Tenancy of Will
Term
possession of real property without a lease.
Definition
Tenancy at Sufferance
Term
if the tenant breaches one of the covenants of her lease, the landlord may terminate the lease and evict (remove) her from the premises.
Definition
eviction
Term
under the common law, if the premises are destroyed the tenant is not relieved of his obligation to pay rent and cannot terminate the lease.
Definition
Destruction of the Premises
Term
the right of the tenant to have physical possession of the premises free of landlord interference.
Definition
Quiet Enjoyment
Term
most courts impose for residential leases an implied warranty of habitability that the leased premises are fit for ordinary residential purposes.
Definition
Fitness for Use
Term
unless there is a statute or a specific provision in the lease, the landlord has no duty to repair or restore the premises
Definition
Repair
Term
co-ownership in which each tenant holds an undivided interest with no right of survivorship.
Definition
Tenancy in Common
Term
co-ownership with the right of survivorship; requires the presence of the four unities (time, title, interest, and possession).
Definition
Joint Tenancy
Term
co-ownership by spouses in which neither may convey his or her interest during life.
Definition
Tenancy by Entireties
Term
spouses' rights in property acquired by the other during their marriage.
Definition
Community Property
Term
separate ownership of an individual unit with tenancy in common with respect to common areas.
Definition
Condominium
Term
the corporate owner of the property leases units to its shareholders as tenants.
Definition
Cooperative
Term
limited right to use the land of another in a specified manner.
Definition
Easement
Term
rights and duties created by the easement pertain to and run with the land of the owner of the easement (dominant parcel) and the land subject to the easement
Definition
Appurtenant
Term
rights and duties created by the easement are personal to the individual who received the right.
Definition
In gross
Term
right to remove produce from the land of another.
Definition
Profits a’ Prendre
Term
permission to use land of another.
Definition
License
Term
Easements may be created by:
Definition
(1)­express grant or reservation, (2)­implied grant or reservation, (3)­necessity,
(4)­dedication, and
(5)­prescription (adverse use)
Term
***Rights of Concurrent Owners***
last slide of Ch. 49
Definition