Business Law Important Terms Kaplan University Rebecca McAvinue Professor William Muniak Business Law LS311-03 February 9, 2015 There are many terms in business that pertain to law that an individual must understand in order to succeed. One must understand what common law is and how it applies to businesses. It is important to understand what a jurisdiction and a precedent are and how they differ. To know what a statute and remedy are and how a business would utilize them.
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starting their business. Each company will have to make decisions as it deals with employment laws and regulations, as well as identifying risk that may arise while they begin to conduct business. Restaurant/Bar Scenario Lou and Jose plan on opening a sports bar and restaurant with help from Miriam. The pair, Lou and Jose, has little start up money and Miriam is willing to invest into their business. Miriam will provide the capital needed in order for them to start their business. Miriam is
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Duty to avoid conflicts of interest When acting for the principal, an agent must not allow his own personal interests to come into conflict with the interests of his principal. If the agent has any personal interest that might conflict with his principal's interest, he must disclose it and the principal must consent to the agent continuing to act for him. If the agent breaks this duty, his principal may set aside any transaction effected by the agent and claim any profit made by the agent. *
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Issue- Did an offer exists, which the plaintiff accepted? Rule of Law- Invitation to treat. An invitation to treat is not an offer in itself but is an invitation to others to make an offer. Discussion- according to the case, Tom placed an advertisement in the Motor Sports Magazine. Advertising to the public at large. The advertisement stated that the car was for sale, not that the seller would sell to all comers. Chris however saw the offer and was interested in taking the offer stated
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U04A1 Case Law Analysis – Business Entities Debbie M. Balzum BARKAN v. DUNKIN’ DONUTS, INC. United States Court of Appeals, First Circuit No. 10-1247 (2010) Facts: The plaintiffs, Irwin Barkan and D & D Barkan LLC, filed suit against Dunkin’ Donuts, Inc. and Baskin-Robbins USA, Co., alleging breach of contract. Barkan’s claimed that according to their contract, Dunkin’ Donuts, Inc. had promised to work with Barkan and the CIT group to refinance Barkan’s debt to CIT. Barkan became a
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Functions and Roles of Law in Business and Society xxxxxxx LAW/421 xxxxxxx Functions and roles of law in business and society The governance of business through state and federal laws is a very complex system. Many laws, statutes, and regulations are in place to protect the consumer and the business. These laws stem from city ordinances in local municipalities to Congress’s broad commerce powers that have the final say. Each of these laws and regulations have specific roles and
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Business Entities, Laws, and Regulations Paper BUS/415 Business Entities, Laws, and Regulations Paper Businesses can range from the small mom and pop shops to worldwide corporations. Either way when establishing a business a decision will need to be made regarding the type of entity to use; sole proprietorship, general partnership, limited partnership, limited liability company (LLC), limited liability partnership (LLP), franchise, or corporation. Fortunately, there is guidance, tools,
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RSM225 – Assignment 2 Issues 1. Whether Frank had entered a contract with the caller? 2. How long is the offer available for? 3. What is the liability of the manufacturer for Frank’s injury? 4. Liability of on-line supplier for inappropriate advice about his product? 5. Whether Frank had made payment for securing the price or a 1st payment towards purchase? 6. What is the proper conduct for miscommunication? 7. Making a purchase when incapacitated? 8. Having received
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lawteacher.net http://www.lawteacher.net/free-law-essays/2-2-essays/criminal-liability-essay.php Criminal Liability Essay "Criminal liability and the justifications for, and objectives of, punishment are based on the notion of individual blameworthiness" In light of the above statement, consider whether imposing criminal liability on corporations for manslaughter is ever justified. Introduction English law has yet to come to terms with the conceptually difficult task of attributing liability
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Quasi Contract | Court imposes contract on parties through an equitable remedy to prevent unjust enrichment of one party at the expense of the other. NOT AVAILABLE IF CONTRACT EXISTS. | Wagner v. Columbia | Columbia signed contract to give 50% of earnings from Charlies Angels tv series to Wagner. Later bought movie rights but didn’t give 50%. Court does not need to consider extrinsic evidence. Plain meaning rule. Wagner not entitled to remaining 50% | Lucy v Zehmer | Zehmer sold Lucy his farm
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