Terms and Concepts in Tort Law and Contracts, Quizzes of Introduction to Business Management

Download Terms and Concepts in Tort Law and Contracts and more Quizzes Introduction to Business Management in PDF only on Docsity! TERM 1 Negligence DEFINITION 1 To win a negligence case, the plaintiff must prove that the defendent failed in five areas; * duty of care: must be a duty owed to the plaintiff * Breach: duty must be breached * Factual Cause: injury must have been caused by thedefendent'sactions * Forseeable Harm: must have been forseeable that the action would cause this kind of harm * Injury: plaintiff must have been hurt TERM 2 Contributory Negligence DEFINITION 2 if the plaintiff is at all negligent, he cannot recover damages from the defendent TERM 3 Comparative Negligence DEFINITION 3 Plaintiff can recover from the defendent to the percentage that the defendent is found negligent TERM 4 Defenses DEFINITION 4 *superceding or intervening event that occurs between defendent's and plaintiff's injury * assumption of risk: voluntary consent to take your chances that yiou won't be harmed TERM 5 Licensee DEFINITION 5 For his own benefit enters the property (salesperson) TERM 6 Trespasser DEFINITION 6 In the law of tort, property, and criminal law a trespasser is a person who commits the act of trespassing on a property, that is, without the permission of the owner. No Duty of Ordinary Care TERM 7 Negligence per se DEFINITION 7 Negligence per se is the legal doctrine whereby an act is considered negligent because it violates a statute. TERM 8 Res ispa loquitor DEFINITION 8 one is presumed to be negligent if they had exclusive control of what caused the injury even though there is no specific evidence of an act of negligence, and without negligence the accident would not have happened. TERM 9 Palsgraf v. Long Island Rail Road DEFINITION 9 Long Island Rail Road attendents could not have forseen the possible injury and therefore did not breach any duty to her TERM 10 Prosecutor DEFINITION 10 decision to prosecute TERM 21 Executed Contract DEFINITION 21 when all parties to the contract have fulfilled their obligations under the contract TERM 22 Executory Contract DEFINITION 22 An executory contract is a contract which has not yet been performed or executed. TERM 23 Offer DEFINITION 23 Act or statement that proposes definite terms and permits the other party to create a contract by accepting those terms TERM 24 counter offer DEFINITION 24 if an offeree counters, it is a rejection that immediately terminates the offer TERM 25 Termination DEFINITION 25 Revocation Rejection Expiration Destruction TERM 26 Consideration DEFINITION 26 there must be bargaining that leads to an exchange between the parties * can be anything that someone might want to bargain for TERM 27 Capacity DEFINITION 27 the legal ability to enter into a contract * in some cases, lack of capacity creates a void contract TERM 28 Statute of Frauds DEFINITION 28 The statute of frauds refers to the requirement that certain kinds of contracts be memorialized in a signed writing with sufficient content to evidence the contract. * Any interest in land * cannot be performed in one year * to pay debt to another * made by executor of an estate * made in consideration of marriage * for sale of goods over $500 TERM 29 Bilateral Mistake DEFINITION 29 occurs when both parties negotiate based on same factual error Walker v. Sherwood and Rose the Cow who got pregnant TERM 30 Unilateral Mistake DEFINITION 30 one party enters a contract under a mistaken assumption Mac buying a stock mustang thinking it was a Shelby TERM 31 option contract DEFINITION 31 an offeree can prevent the offeror from revoking his offer by paying the offeror compensation to keep the offer open for an agreed-upon time period * consideration is required TERM 32 Parol Evidence DEFINITION 32 refers to anything that was said, done, or written before the parties signed the agreement or as they signed it * Rule: when two parties make an integrated contract, neither one may use parol evidence to contradict, vary, or add to the the terms TERM 33 Assignment of Third Party Rights DEFINITION 33 any contactual right may be assigned unless assignment; (a) would substantially change the the obligators rights or duties under the contract (b) is forbidden by law or public policy (c) is validly precluded by the contract itself TERM 34 Delegation of third party rights DEFINITION 34 by itself does not relieve the delegator of his own responsibility to perform the contract An obligator may delegate unless; (1) delegation would void public policy; or, (2) contract prohibits delegation; or, (3) obligee has substantial interest in personal performance by obligator TERM 35 Intended Beneficiary DEFINITION 35 may enforce a contract if the parties intended them to benefit and if either ; * enforcing the promise will satisfy a duty of the promisee to the beneficiary; or, * the promisee intended to make a gift to the beneficiary