...LAW 5072 FINAL EXAM STUDY GUIDE CONTRACTS Definition: A contract is a promise(s) for the breach of which the law gives a remedy, or the performance of which the law recognizes as a duty. Offer: Showing a willingness to enter into a bargain in such a way that another person would interpret that they could accept and it would conclude the negotiations. It can be words, actions, advertisements (NOT negotiations, estimates or price quotes.) Acceptance: Once an offer has been made, the other party can accept the offer in any reasonable way, including starting performance. The party who accepts can back out up until performance begins. Factors: Were terms finalized? Did performance begin? Consideration: A contract must include a promise and a return promise. It cannot only go in one direction: both parties have to get something valuable (a good or service). A promise of a gift is NOT enforceable because one party gets nothing. The exchange doesn’t have to be equal: one person may value something more than someone else. Enforcement: Breach: Failure to perform Substantial Performance: Doing exactly what is in the contract is not always possible, but the parties have to reasonably live up to the terms. If one party does not materially perform, the other party no longer has to perform. If one party breaches: Damages ‐ The party who is harmed can request money from the other party equal to the loss from the breach. The court said that you can...
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...care while under addiction or mental illness, felony convictions, insufficient record keeping, employing unlicensed persons to practice medicine, and prescribing drugs in excessive amounts. We currently live in a litigious society. Medical providers must balance providing quality and keeping abreast with current health care regulations to protect themselves from health care law suits (Fremgen, 2009). Laws are enforceable rules set by a government authority. An article related to a regulatory issue in health care will be analyzed to reflect how laws affect the regulatory process in health care. The Four Categories of Law Laws fall into different categories which include constitutional law, statutory land and regulatory law and common or case law. Constitutional law consists of U.S. Constitution and individual state constitutions that act as the country’s highest judicial authority. U.S. Constitutional laws take precedence over all state laws and state constitutions. Constitutional law is limited to addressing the relationship between individual and their...
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...FRAUD BASICS WHAT IS FRAUD? Fraud, sometimes referred to as the fraudulent act, is an intentional deception, whether by omission or commission, that causes its victim to suffer an economic loss and/or the perpetrator to realize a gain. A simple working definition of fraud is theft by deception. Legal Elements of Fraud Under common law, fraud includes four essential elements: 1. A material false statement 2. Knowledge that the statement was false when it was spoken 3. Reliance on the false statement by the victim 4. Damages resulting from the victim’s reliance on the false statement In the broadest sense, fraud can encompass any crime for gain that uses deception as its principal technique. This deception is implemented through fraud schemes: specific methodologies used to commit and conceal the fraudulent act. There are three ways to relieve a victim of money illegally: force, trickery, or larceny. Those offenses that employ trickery are frauds. The legal definition of fraud is the same whether the offense is criminal or civil; the difference is that criminal cases must meet a higher burden of proof. For example, let’s assume an employee who worked in the warehouse of a computer manufacturer stole valuable computer chips when no one was looking and resold them to a competitor. This conduct is certainly illegal, but what law has the employee broken? Has he committed fraud? The answer, of course, is that it depends. Let us briefly review the legal ramifications...
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...Business Torts Outline Fall 2009 (Mittleman) |Overview | |Plan of Attack for Answering Questions | |Contractual relationships, where one party alleges a tort. | |Economic Loss Doctrine | | | |Fraud: | |Intentional Fraud (false statement, concealment, omission) ...
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...Week 2 Knowledge Check Study Guide Concepts Intentional business related torts Negligence torts Strict liability torts White collar crimes 100% 100% 67% 100% Mastery Questions 1 2 3 Score: 11 / 12 4 5 6 7 8 9 10 11 12 Concept: Intentional business related torts Mastery 100% Questions 1 2 3 1. Identify the true statement about a claim of defamation. A. A statement must have the ability to hurt the reputation of an individual in order to qualify as defamatory. B. A statement does not have to be heard by a third party in order to qualify as defamatory. C. An unkind statement made against a profession as a whole is also considered defamatory. D. A statement should be based on pure opinion to qualify as defamatory. Correct: The Correct Answer is: A. In a defamation case, the plaintiff must prove that the defamatory statement was heard or seen by a third party and that the statement had the ability to hurt the reputation of the plaintiff. 2. Who among the following is given absolute privilege or immunity against defamation? A. Journalists while covering the news B. Employers while recruiting new employees C. Business owners during press conferences D. Congress members during congressional debates Correct: The Correct Answer is: D. The members of Congress have absolute privilege against defamation for statements made during congressional debates. This immunity was given through the “speech and debate clause.” 3. ...
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...Management 200 Dawson Study Guide-After Midterm Spring 2014 Extensive List of Concepts: starting Week 7 of the quarter -Civil Law and Litigation What types of evidence is there? What are the rules of evidence? What are the requirements for evidence to be admissible in court? Explain how evidence can be excluded (exclusionary rules) What are the types of privileged evidence? -Torts What is a tort? Name the different types of torts What happened in the McDonalds story discussed in class? Explain Intentional Torts: Battery, Assault, Mental Distress Explain what elements are required for a tort to be negligent What is professional negligence? What are defenses to negligence? Compare and contrast Contributory Negligence and Comparative Negligence What is strict liability? What is products liability? -Contracts What is a contract? What are the types of contracts? Details about executory, enforceable, void, express, implied, and voidable What are requirements of contracts? What happens when a contract is breached? -Real Property What things are considered real property? What is an interest in real estate? Details about fee simple absolute, leasehold, life estate, joint tenants, subsurface interests, above surface interests, easement, and restrictive covenants What is a deed? Details about Statutory Warranty and Quit Claim What is title insurance? What are the types of title insurance? Know the process for buying a house, with a lender, with a contract ...
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...investment for the business using these private security forces. Potential for Civil Liability Civil liability is considered the potential responsibility for payment to be assessed to an individual or organization that has incurred damages based on a lawsuit. There are several different factors that can determine the potential for liability based on certain tort laws that may be applied. A tort is considered to be a wrongful act that was committed that may result in compensation based on varying levels of proof and damages that are present. Rules, evidence, precedent, and judicial discretion all help to determine which category or tort law will be applicable. The elements and burden of evidence and proof can also vary from state to state, and can focus on different aspects of the damages or injuries caused. Types of Liabilities and Lawsuits There are three different types of tort laws that private officers and employers must understand effectively to mitigate as much potential liability as possible. Negligence is the most common type of tort, and consists of accidental or negligent act that created a risk to another person. Intent does not play...
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...The Law and Ethics within a Business Noel Jones BUS 670: Legal Environment Professor Eliza Gordner January 16, 2012 The Law & Ethics within a Business In the world of business companies and their employees are bound by both ethics and the law. Ethics is defined as “the philosophical study of what is right and wrong, good and bad” (Liuzzo and Bonnie, 2010; p19). All those are companies are bound by the same code of ethics, they are not all bound by the same laws. Depending on the type of business, they will either be governed by Federal, State, Local, or a combination of the three law governing bodies. This paper will discuss an example of issue and demonstrate where the law, ethics, or both was violated by a company or its employee(s). First, is to discuss a bit about Ethics. Resisting Acts to Perform Unethically It is of the utmost importance that not only managers, but all employees, act and perform ethically while carrying out their duties. A manager or employee should try to recognize unethical acts, and also bosses. Although, an employee may not always be able to recognize unethical requests or bosses; therefore it is best to thoroughly consider what is being asked of them. It is possible that a boss may ask an employee to perform the unethical task for them in hopes that the employee does not realize or is just a “team player”. If this occurs, the employee should take action. An employee may “buy time” in order to...
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...Chapter 2 THE AUDIT MARKET Revision: 11 September 2012 2.1 Learning Objectives After studying this chapter, you should be able to: 1. Distinguish between different theories of audit services including agency theory. 2. Understand drivers for audit regulation. 3. Understand the role of public oversight. 4. Distinguish between different audit firms. 5. Identify some current developments in the audit market. 6. Portray the series of industry codes of conduct and guidance 2.2 Introduction The emergence of today’s auditors happened during the Industrial Revolution that started in Great Britain around 1780. This revolution led to the emergence of large industrial companies with complex bureaucratic structures and, gradually, the need to look for external funds in order to finance further expansion: the separation between capital provision and management. Both developments resulted in demand for the services of specialists in bookkeeping and in auditing internal and external financial representations. The institutionalization of the audit profession was then merely a matter of time. Management Controls Operations and Communications Management has control over the accounting systems and internal controls of the enterprises that auditors audit. Management is not only responsible for the financial and internal control reports to investors, but also has the authority to determine the precise nature of the representations that go into those reports. However, management...
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...5. The Key Study Areas are as follows….. * TCO A -Business ethics: Three layers of Business ethics: * 1) Basic values (honest, keeping promises) * 2) Notion of fairness (how do we treat others?) * 3) Issues related to community, environment, neighbors Business ethics considers fairness and morals standards amidst the pressure of earning a profit and providing returns to shareholders. Sometimes we may have business ethical tensions where Employee has personal economic interests in continuing employment that may compromise certain personal moral standards. -Ethical Models/Tests The Blanchard and Peale Model * Is it legal? (IF NO, analysis is done) * Is it balanced? (Is our deal with the other side balanced or was it cutthroat?) * How does it make me feel? (The action may be legal and appear balanced; but, do you feel good about it?) * Front Page of the newspaper test: Simple question that requires a decision maker to envision how a reporter would describe a decision on the front page of a local or national newspaper. * Laura Nash Perspective Model: How would I view the issue if I stood on the other side of the fence? What am I trying to accomplish? Can I discuss my decision with friends, family, and those closest to me? * The Golden Rule: “Do unto others as you would have them to unto you. This requires one to apply the same standards of fairness and equity to their own actions that they would demand...
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...Instructor’s Name: Anthony (Tony) Damiano Class Day/Time/Class Room: On-line Contact: [->1] or (760) 371-0633 (AT&T Cellular Service) After Hours: Monday-Tuesday-Wednesday-Thursday-Friday-Saturday 4:30 PM to 9:30 PM (All times are Pacific Standard) General Course Information: It is every student’s responsibility to ensure proper enrollment or withdrawal from this class. You are responsible for your administrative issues. I am responsible for your education and participation in this class. Course Title: Introduction to Business Law Course Description: This course introduces students to the legal environment of business and the American legal system. Students will examine contracts in depth and agency law. The course will include a study of the governmental regulation of business and the relationship between administrative/legislative (state and federal) law, and business ethics. Text: Business Law 4rd Business Ed Revised (2012): Morgan, Shedd & Corley ISBN: 978-1-61882-007-5 COURSE GOALS & OBJECTIVES: Provides an overview of relevant Business Law principles and practices as applied to contemporary organizations. The focus of this course will be the generally applicable laws affecting people and business organizations in the United States, any United States jurisdictions, and doing business with other countries. Student learning outcomes: Upon successful completion of the course, the student will be able to ? Understand the legal system, legal ethics, and the...
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...SEMINAR ON LEGAL CONSIDERATIONS Submitted by, TANIA M. JAMES Submitted on, 01- 11-2012 INDEX S.NO | TOPICS | PAGE.NO | 1. | OBJECTIVES | | 2 | INTRODUCTION | | 3 | DEFINITION OF LAW | | 4. | SOURCES OF LAW | | 5 | TYPES OF LAW | | 6 | SELECTED CATEGORIES OF LAW AFFECTING NURSES | | 7 | SELECTED LEGAL ASPECTS OF NURSING PRACTICE | | | COMPONENTS AND CHARACTERISTICS OF THE LEGAL PROCESS | | 8 | LEGAL PROTECTIONS IN NURSING PRACTICE | | 9 | | | 10 | NURSING PRACTICE AND THE LAW | | 11 | LEGAL ISSUES IN PRACTICE | | 12 | NURSE–CLIENT RELATIONSHIP | | 13 | LEGAL ROLES OF NURSES | | | SUMMARY | | | CONCLUSION | | | RESEARCH ABSTRACT | | 14 | BIBLIOGRAPHY | | OBJECTIVES * To introduce legal considerations * To define law * To understand sources of law * To list out the types of law * To explain the selected legal aspects of nursing practice * To understand the components and characteristics of the legal process * To explain the regulation of nursing practice * To enumerate standards of nursing care * To describeselected legal aspects of nursing practice * To explainlegal protections in nursing practice * To describe nursing practice and the law * To describe legal issues in practice * To explain nurse–client relationship * To list out the guidelines for safe nursing practice * To formulatelegal...
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...excess revenue. Riordan Manufacturing is headquartered out of San Jose, California, and supplies plastics to market verticals such as automotive, aircraft, and the government. Riordan Manufacturing prides themselves on the focus of using polymer materials for customer needs and building long-term relationships with each client. Since the start of the organization in 1991, growth has been a definition of Riordan Manufacturing. Growth is a necessity to any organization, but with growth provides risks that should be assessed. The following discussion, will analyze potential areas of risk within Riordan Manufacturing. The potential risks that will be analyzed include contract, tangible and intellectual property risk, employee risk, along with tort and regulatory risk. Each of the identified potential risk areas could inhibit the ability for Riordan Manufacturing to continue growth and potentially include major decrease in business success. In addition to the potential risk areas, compliance is another factor that needs to be ensured. Sarbanes-Oxley has specific requirements that will require Riordan Manufacturing to meet for continued growth and success, but the assistance of principles from the Committee of Sponsoring Organization of the Treadway Commission will assist Riordan Manufacturing in meeting compliance. (Riordan Manufacturing, 2006) The first assessed risk area will include the intellectual and tangible property areas of Riordan Manufacturing. An area that has been identified...
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...Law 252 Business Torts — Week One Course Reading Assignment 1 Part One: The "borderland" between tort and contract. Sommer v, Federal Signal Corp., 79 N.Y.2d 540 (1992); IKEA North American Services, Inc. v. Northeast Graphics, Inc., 56 F.Supp.2d 340 (S.D.N.Y. 1999). Part Two: Introduction to the economic loss doctrine. Grams v. Milk Products, Inc., 283 Wis.2d 511 (2005). ' I have edited the cases in this attachment. Le • ' 593 N.E.2d 1365 79 N.Y.2d 540, 593 N.E.2d 1365, 583 N.Y.S2d 957 • (Cite as: 79 N.Y.2d 540, 593 N.E.2d 1365, 583 N.Y.S.2d 957) Page I .'Sommer v. Federal Signal Corp. N.Y.,1992. Court of Appeals of New York. Beverly SOMMER et al., Respondents-Appellants, v. FEDERAL SIGNAL CORPORATION et Respondents-Appellants, andHohnes Protection, Inc., Appellant-Respondent, et al, Defendant (And a Third-Party Action and All Related Consolidated Actions.) May 12,1992. OPINION OF THE COURT KAYE, Judge. substitute-initially understood that 810 wanted normal service restored. But as the brief conversation proceeded, the dispatcher became confused by the caller's repeated insistence that he would "activate" the system and the dispatcher concluded-without attempting to elicit greater clarification from the caller, or any other confirmation-that 810 wanted its system taken out ofservice. Seven to nine minutes later, Holmes began receiving fire signals from the building. However, consistent with his mistaken impression that the system was to be taken out...
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...1. Introduction 1.1 From the dawn of human civilization, we, human being are directly or indirectly dependent to each other. For our better living, we created family, then formed group/society, then country and international community. Each individual, each family, each group and each country are dependent on each other by some means. For the easy exchange of dependency, people introduced business. “Business is defined as the exchange of goods, services or money for mutual benefit or profit.” (Skinner and Ivanncevich, 1992, p.8) The organizations that involve in profit making activities are called business organizations. Business may be trade, commerce or industry. To make business organized, it must be governed by some rules and regulations which we call business laws. Each country has independent business laws. Business organizations must operate within the boundaries of laws and government regulations. 1.2 Laws have been developed not only to protect consumers but also to preserve competition. Government agencies enforce these laws at the federal, state, and local levels. Business firms that do not comply with the laws face fines and other penalties. 2. Aim The aim of this assignment is to give a general idea regarding the laws that affect business. 3. Scope In this assignment I have limited my focus on the laws of Bangladesh that affect business. However, I have also focused on some of the laws of USA, UK and India those affect business but not yet clearly...
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