Terminology and Definitions in Tort Law and Securities, Quizzes of Business and Labour Law

Download Terminology and Definitions in Tort Law and Securities and more Quizzes Business and Labour Law in PDF only on Docsity! TERM 1 Tort Law DEFINITION 1 any non-criminal, wrongful action other than a breach of contract in which someone gets hurt. TERM 2 intentional tort DEFINITION 2 intent to do an action that leads to an injuryassault and battery TERM 3 intentional infliction of emotional distress DEFINITION 3 outrageous intentional conduct that has a strong possibility of causing mental distress TERM 4 false imprisonment DEFINITION 4 intentional, unjustified confinement of a non-consenting person TERM 5 trespass DEFINITION 5 entering a person's land without consent or remaining after being asked to leave TERM 6 conversion DEFINITION 6 civil side of stealing; only regards to personal property TERM 7 fraud DEFINITION 7 intentional misrepresentation of material facts TERM 8 defamation DEFINITION 8 rumors about other companies TERM 9 injurious falsehood DEFINITION 9 untrue statements disparaging another company''s product or company TERM 10 intentional interference with contractual relations DEFINITION 10 inducing another to breach or fail to fulfill a valid contractual obligation in order to have them enter one with you TERM 21 strict products liability DEFINITION 21 seller, manufacturer, or distributor of commercial products is responsible for any injury by a defected product TERM 22 abnormally dangerous activities DEFINITION 22 must be activities that involve a high degree of risk or harmthe risk can't be completely guarded against by the exercise of reasonable carethe activity is not one commonly performed in the area TERM 23 compensatory damages DEFINITION 23 gives compensation to the plaintiff for injuries suffereddoesn't punish the defendant; just makes it even TERM 24 punitive damages DEFINITION 24 intended to punish the defendantgoes above the harms to make an example and make sure none does it again TERM 25 security DEFINITION 25 large statute that list all terms considered securitiesanswer 'yes' to all of the following:is the investment in a common business activity?reasonable expectation of profits?profits earned through the efforts of someone else? TERM 26 Securities & Exchange Commission DEFINITION 26 (SEC)responsible for administering federal securities law TERM 27 Securities Act of 1933 DEFINITION 27 regulates the initial sale of a security TERM 28 issuer DEFINITION 28 the company who is actually selling the stock TERM 29 underwriter DEFINITION 29 investment bank or brokerage firm to help the issuer TERM 30 controlling person DEFINITION 30 the owner officer, or director of the corporation TERM 31 seller DEFINITION 31 sales person or company TERM 32 registration statement DEFINITION 32 (application) anyone who has a part in the sell and gives detailed general statements about the company TERM 33 prospectus DEFINITION 33 contains all financial information such as balance sheets and profit/loss data TERM 34 liability DEFINITION 34 the issuer can't commit fraud in the registration statement or prospectus, or any other information pertaining to the initial sale TERM 35 securities exchange act of 1934 DEFINITION 35 subsequent resell of a security after the initial delforbids the resell of a security on a national exchange without an effective registration TERM 46 trust DEFINITION 46 a big company that owns several smaller companies TERM 47 Sherman Act of 1890 DEFINITION 47 primary antitrust law2 sections TERM 48 Clayton Act of 1914 DEFINITION 48 fills loopholes of Sherman Actuses rule of reason to decide TERM 49 Sherman Act section 1 DEFINITION 49 agreements between 2 or more partiesevery contract, combination, or conspiracy in restraint of trade is illegal TERM 50 price fixing DEFINITION 50 2 or more competitors decide to charge the same price TERM 51 territory allocation agreements DEFINITION 51 can't restrict selling to one specific locationex. Coke and Pepsi can't agree that Coke will only sell in the South and Pepsi will only sell in the North TERM 52 Per se illegality DEFINITION 52 certain activities are always illegal no matter what TERM 53 Rule of Reason DEFINITION 53 agreements are illegal only if the constitute and undue or unreasonable restraint of trade TERM 54 horizontal agreements DEFINITION 54 agreements between competitors TERM 55 vertical agreements DEFINITION 55 agreements by a manufacturer with suppliers and distributorsmore acceptable TERM 56 Sherman Act section 2 DEFINITION 56 Every person who tries to monopolize shall be charged with a felony TERM 57 monopoly power in a relevant market DEFINITION 57 Can the company increase prices without the fear of losing sales?Focuses heavily on the number of actual or potential competitors in the relevant marketWhat would consumers view as a substitute? TERM 58 exclusionary conduct DEFINITION 58 doing something to harm the competition TERM 59 Price discrimination DEFINITION 59 can't sell identical quantities of goods at different prices to different people TERM 60 tying contracts DEFINITION 60 when you buy one product, you also have to buy anotherex. Nike can't sell one very popular shoe to footlocker and tell them they must buy 10 other less popular ones TERM 71 publicly held DEFINITION 71 owned by thousands and traded on the stock exchangeex. Coke, AT&T TERM 72 limited partnerships DEFINITION 72 limited partners who are not reliable for debt and don't control the businessgeneral partners run the business and are responsiblefile some paperwork with the state TERM 73 S corporations DEFINITION 73 treated like a partnership for income tax purposescan only have 75 shareholderscan't be publicly traded TERM 74 limited liability corporations DEFINITION 74 formed like corporationsmanaged equally by members via majority votemembers are generally not liable for the LLC's debtcan't be publicly traded TERM 75 Article of Incorporation DEFINITION 75 must be filed with the state gov't where the headquarters will bebasic charter of a corporation which spells out the name, basic purpose, types of stock, and any special characteristics TERM 76 4 parties regulated by the 1933 Securities Act DEFINITION 76 issuers, controlling persons, underwriters, sellers TERM 77 2 documents required by the 1933 act DEFINITION 77 registration statement and prospectus