Term
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Definition
| 1. Concideration 2. Agreement 3. Offer 4. Legality |
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Term
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Definition
| 500$ or more must be in writing and signed |
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Term
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Definition
| A person doing business for himself/herslef. Profits are taxed persnally to the proprietor |
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Term
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Definition
| A promise in exchange for a performance |
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Term
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Definition
| A promise in exchange for a promise |
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Term
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Definition
| Accidents that result from megligence of the business |
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Term
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Definition
| Allows businesses to keep operating, without lequidation of assets |
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Term
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Definition
| An association of 2 or more persons to carry on a business |
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Term
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Definition
| Association created to provide economic service to its members |
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Term
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Definition
| Copying a mark without authority to do so |
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Term
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Definition
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Term
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Definition
| General partnership for a limited time and purpose. |
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Term
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Definition
| Government can force sale of property or grant easement without cencent of the owner |
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Term
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Definition
| Have use of land for life but cannot ruin it. |
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Term
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Definition
| If differences are material, then second form is counter offer, not contract. |
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Term
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Definition
| Invasion of property rights. Ex-trademarks or trade secret |
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Term
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Definition
| Land houses, and things attached to land |
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Term
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Definition
| Legal ability to create a contract (minors, intoxicated and insane) |
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Term
| Intangible (Intelectual) Property |
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Definition
| Legally protected property created mostly by mental effort. |
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Term
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Definition
| Moveable property such as furniture, books, and cars. |
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Term
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Definition
| Name of a company or business ex. coca cola |
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Term
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Definition
| Only applies to individuals; voluntary |
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Term
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Definition
| Parties have an individed interest that passes to their heirs when they die. |
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Term
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Definition
| Product distribution, trademark and business franchise |
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Term
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Definition
| Promise by the maker to pay certain money to the payee. |
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Term
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Definition
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Term
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Definition
| Requires the sellers delivery is what is stated in contract. |
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Term
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Definition
| Restrictions imposes on the use of property such as easements |
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Term
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Definition
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Term
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Definition
| Substitutes for cash. ex-checks and notes. |
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Term
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Definition
| Tangible things that are movable |
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Term
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Definition
| The debtors ability to pay |
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Term
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Definition
| The debtors financial condition |
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Term
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Definition
| The oldest part of common law that focuses on real and persnal property. |
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Term
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Definition
| The strongest form of ownership with an indefinite time and right to dispose of it. |
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Term
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Definition
| Trademark is improperly used in a domain name |
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Term
| Intentional Torts reguarding Real Estate |
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Definition
| Tresspassing and Nuisance |
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Term
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Definition
| UCC fills parts of contract left open or unclear. i.e price, quantity, etc. |
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Term
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Definition
| Uniform Commerical Code-All states have adopted it except LOUISIANA. It coveres contract for sale of goods. |
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Term
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Definition
| Vouluntary but may be forced by creditors |
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Term
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Definition
| a promise or set of promises that create an agreement between parties. |
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Term
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Definition
| allow exclusive control over origional written work, music, art, and photography (70 year + life of creator) |
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Term
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Definition
| can be comerical or residental, it is a highly specific detail of the property that states premise, how long and how much |
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Term
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Definition
| concerns look and feel of products |
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Term
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Definition
| confusion of origin of goods by improper use of trademark. Essentially stealing another goods name. |
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Term
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Definition
| constitute the formal right of ownership, passes by deeds. |
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Term
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Definition
| designs, logos, distinctive marks or words that mannufacturers put on their goods for ID by consumers. (Good for 10 years) |
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Term
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Definition
| exclusive statutory grants to protect an invention, design or process that is useful and not obvious. (20 year life) |
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Term
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Definition
| forseeable damages that result from sellers breach |
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Term
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Definition
| good title will be trasferred free of claims against it. |
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Term
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Definition
| include cost of inspection, recieving, transporting, and taking care of goods. |
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Term
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Definition
| makes stealing a trade secret a federal crime |
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Term
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Definition
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Term
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Definition
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Term
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Definition
| subject matter must be lawful |
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Term
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Definition
| substitute goods and recover price diference |
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Term
| Basic obligation of the seller |
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Definition
| to transfer and deliver goods |
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Term
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Definition
| undevided interest where other owner has a right of survivorship. |
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Term
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Definition
| unlawful control of anothers personal property |
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Term
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Definition
| useful to transfer ownership interest in real property |
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Term
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Definition
| withdrawing of offer by oferror |
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