Legal Terms and Definitions in Property Law, Torts, and Intellectual Property, Quizzes of Business and Labour Law

Download Legal Terms and Definitions in Property Law, Torts, and Intellectual Property and more Quizzes Business and Labour Law in PDF only on Docsity! TERM 1 Intent DEFINITION 1 the desire to bring about certain results a legal doctrine indicating that parties meant to do what they did. also includes results that are substantially likely to result from an action. TERM 2 Intentional Torts (9 kinds) DEFINITION 2 Assault and battery intentional infliction of mental distress invasion of privacy false imprisonment and malicious prosecution trespass conversion defamation fraud common law business torts TERM 3 Assault DEFINITION 3 the intentional creation of immediate apprehension of injury or lack of physical safety. *includes expectation that one is about to be physically injured. INTENTIONAL-IMMEDIATE- PHYSICAL TERM 4 Battery DEFINITION 4 the cause of action for physical contact that is not consented to and is offensive. DOESN'T need to cause injury. INTENTIONAL-OFFENSIVE-UNCONSENTED-PHYSICAL TOUCHING-NO PRIVILEGE TERM 5 Infliction of Mental Distress DEFINITION 5 intentional tort of the emotions that causes both mental distress and physical symptoms as a result of the defendant's outrageous behavior. INTENTIONAL-OUTRAGEOUS-PHYSICAL SYMPTOMS TERM 6 Invasion of Privacy DEFINITION 6 a tort based on misappropriation of name or likeness, intrusion upon physical solitude, or public disclosure of objectionable, private information. TERM 7 False Imprisonment DEFINITION 7 the tort of an intentional, unjustified confinement of a nonconsenting person who knows of the confinement TERM 8 Malicious Prosecution DEFINITION 8 Malicious prosecution is a common law intentional tort, while like the tort of abuse of process, its elements include (1) intentionally (and maliciously) instituting and pursuing (or causing to be instituted or pursued) a legal action (civil or criminal) that is (2) brought without probable cause and (3) dismissed in favor of the victim of the malicious prosecution. an action for recovery of damages that have resulted to person, property, or reputation from previous unsuccessful civil or criminal proceedi TERM 9 Trespass DEFINITION 9 an act done in an unlawful manner so as to cause injury to another; an unauthorized entry upon another's land. TERM 10 Conversion DEFINITION 10 an unlawful exercise of dominion and control over another's property that substantially interferes with property rights. deprives the owners of the lawful right to exclude others from such resources. MUST BE SERIOUS INVASION. Purchasing something that has been stolen. TERM 21 Proximate Causation DEFINITION 21 legal cause Those engaged in activity are legally liable only for the foreseeable risk that they cause. caused directly by the defendant's negligence. TERM 22 Defense to Negligence DEFINITION 22 Contributory negligence Assumption of risk BOTH ARE AFFIRMATIVE DEFENSES (the defendant must specifically raise these defenses) TERM 23 Contributory Negligence DEFINITION 23 offset with the doctrine of comparative responsibility (comparative negligence or fault) which does not bar recovery. compares the plaintiffs fault with the defendants and reduces damages awarded. more frequent and larger awards for plaintiffs. a failure to use reasonable care by the plaintiff in a negligence suit. TERM 24 Assumption of Risk DEFINITION 24 Plaintiff's knowing and willing undertaking of an activity made dangerous by the negligence of another. assumption of risk must be voluntary and understood risk contractual notices regarding assumption of the risk are more likely to be enforced if they prominently bring to attention the risk involved. may be implied by circumstances or arise from express agreement. TERM 25 Strict Liability -Definition -Types DEFINITION 25 legal responsibility for injury causing behavior that is neither intentional nor negligent. strict products ultrahazardous activity dram shops RESPONDEAT SUPERIOR TERM 26 Strict Products Liability DEFINITION 26 commercial sale of defective products retailer, wholesaler, manufacturer, suppliers of defective parts, and companies that assemble defective products. only applies to the sale of unreasonably dangerous defective products (production defects and design defects). does not protect businesses that lose profit due to defective product. contributory negligence is not a defense TERM 27 Production Defect DEFINITION 27 products are not manufactured to a manufacturer's own standards. TERM 28 Design Defect DEFINITION 28 when a product is manufactured according to the manufacturer's standards, but the product injures a user due to its unsafe design. common but controversial. TERM 29 What common carriers are not liable for... DEFINITION 29 acts of God (natural catastrophies) action of alien enemy order of public authority inherent nature of the goods misconduct of the shipper TERM 30 Damages -Definition -2 kinds DEFINITION 30 juries determine the size of damage awards in most cases but judges decide whether to approve substantial damage awards compensatory damages punitive damages TERM 31 Compensatory Damages -3 ways it compensates DEFINITION 31 past and future medical expenses past and future economic loss (property damage and loss of earning power) past and future pain and suffering. many are underinsured for major tort liability. TERM 32 Punitive Damages DEFINITION 32 exemplary damages. arise from intentional torts or extreme willful and wanton negligence. punishment. key is defendants motive. motive must be malicious, fraudulent, or evil. TERM 33 Contingency Fee DEFINITION 33 permits a plaintiff to sue without first having to pay an attorney. encourages litigation. TERM 34 Workers Compensation Acts -Definition -3 defenses DEFINITION 34 state statues designed to protect employees and their families from the risks of accidental injury, death, or disease resulting from their employment. 3 defenses: assumption of risk contributory negligence fellow-servant rule. TERM 35 Accession DEFINITION 35 property acquired by adding something to an owned object. also explains when you apply your efforts and ingenuity to raw materials and change their nature into finished products, you own the finished product TERM 46 Deeds of trust DEFINITION 46 a type of document to secure an extension of credit through an interest in the land. TERM 47 Deficiency DEFINITION 47 in land based security interest, the amount of the loan which remains unpaid after the land has been sold. TERM 48 Easement DEFINITION 48 the right of one other than the owner to some use. TERM 49 Eminent Domain DEFINITION 49 the government's constitutional power to take private property for public use upon payment. TERM 50 Estate DEFINITION 50 bundle of rights and powers of real property ownership. TERM 51 Fee Simple DEFINITION 51 the maximum bundle of rights or estate permitted by law TERM 52 financing statement DEFINITION 52 an established form that a secured party files with a public officer, such as a state official or local court clerk, to perfect a security interest under the UCC. it is a simple form that contains basic info such as a description of the collateral, names, and addresses. it is designed to give notice that the debtor and secured party have entered into a security agreement. TERM 53 Fixture DEFINITION 53 personal property that has become real property generally thru annexation. TERM 54 Foreclosure DEFINITION 54 if a mortgager fails to perform as agreed, the mortgagee may declare the whole debt due and payable. TERM 55 Gift DEFINITION 55 transfer of ownership by intent and delivery Testamentary Gift: given to someone through a will TERM 56 joint-tenancy DEFINITION 56 property ownership that is undivided (common) and equal between 2 or more owners. permits survivorship TERM 57 Land Sales Contract DEFINITION 57 type of document to secure an extension of credit thru an interest in the land purchased. TERM 58 Leasehold estate DEFINITION 58 the property granted to tenants (lessees) by a landlord (lessor). TERM 59 Life estate DEFINITION 59 a property that grants land ownership for the lifetime of a specified person. TERM 60 Mechanic's Lien DEFINITION 60 a lien on real estate that is created by statue to assist suppliers and laborers in collecting their accounts and wages. its purpose is to subject the owner's land to a lien for material and labor expended in the construction of buildings and other improvements. TERM 71 security interests DEFINITION 71 an application of property that gives someone an interest in what belongs to another, usually to secure an extension of credit TERM 72 tenancy in common DEFINITION 72 a property ownership that is undivided (common) but not necessarily equal between 2 or more owners TERM 73 title DEFINITION 73 ownership TERM 74 Zoning Ordinance DEFINITION 74 laws that limit land use based usually on residential, commercial, or industrial designations. TERM 75 Property divisions DEFINITION 75 REAL PERSONAL a fixture was personal but has become real. TERM 76 Acquiring property (5 ways) DEFINITION 76 Exchange--Contract Possession--rule of first possession Lost vs. Adverse vs. Mislaid Confusion Accession Gift TERM 77 4 Types of ownership DEFINITION 77 Fee Simple Life estate Leasehold estate Concurrent ownership -joint tenancy and tenancy in common TERM 78 Applications of property DEFINITION 78 easements bailments TERM 79 Trade Secrets 2 related terms and 2 types of enforcement DEFINITION 79 Reasonable measures Economic value Civil Enforcement: injunction Criminal Enforcement TERM 80 5 Types of Trademarks DEFINITION 80 Trademark Service Mark certification mark collective mark trade dress TERM 81 2 Classifications of Criminal Law DEFINITION 81 Felony Misdemeanor TERM 82 4th Amendment -3 concepts DEFINITION 82 illegal search and seizure warrant expectation of privacy TERM 83 5th amendment -2 concepts DEFINITION 83 self-incrimination double jeopardy TERM 84 6th amendment -7 concepts DEFINITION 84 case rights speedy and public trial trial by jury informed of charges confront accuser subpoena witnesses attorney TERM 85 6 Fraud types DEFINITION 85 Scheme to defraud Mail and wire fraud (intent, good faith) Securities Health care Counterfeiting Bankruptcy fraud (concealment) TERM 96 Collective mark DEFINITION 96 a mark representing membership in a certain organization or association TERM 97 Trade Dress DEFINITION 97 a colored design or shape associated with the general design. a legal doctrine giving someone ownership of a distinctive overall appearance or look and feel of a product or service. TERM 98 4 Fair uses of Copyrights DEFINITION 98 purpose and character of the use (commercial or nonprofit educational use) nature of copyrighted work amount and substantiality of the portion used in relation to the copyrighted work as a whole the effect of the use upon the potential market for the copyrighted work. TERM 99 Copyright DEFINITION 99 a statutorily created property in creative expression that protects authors. TERM 100 Fair Use DEFINITION 100 a statutorily permitted use of another's copyright for criticism, comment, news reporting, teaching, scholarship, or research. TERM 101 Generic DEFINITION 101 to lose distinctiveness in reference to the source of goods and thus to lose trademark protection most likely when 1) owner does not defend against unauthorized use 2) when the public becomes confused as to whether a term refers to a particular product or service or general class of products or services. TERM 102 Infringement DEFINITION 102 the tort establishing violation of intellectual property rights. Civil Violation of trademark or patent. Remedies: damages, injunction, prohibiting future infringements TERM 103 Injunction DEFINITION 103 a court order directing a party to do or to refrain from doing some act TERM 104 Patent DEFINITION 104 a statutorily created property in inventions TERM 105 Trademark DEFINITION 105 a statutorily created property in a mark, word, picture, or design that attaches to goods and indicates their source TERM 106 Trademark dilution DEFINITION 106 the impact of something that reduces the distinctiveness of a trademark. TERM 107 10 Specific Crimes for Criminal Law DEFINITION 107 Fraud Conspiracy Obstruction of Justice False Statement to a bank False Statement to a Federal agency Larceny Racketeer Influenced and Corrupt Organizations Act (RICO) Cyber Crime Endangering Workers Aiding and Abetting TERM 108 Accessory DEFINITION 108 a term used at the state level that is similar to "aiding and abetting". generally is either before the criminal act or after it. TERM 109 Aiding and Abetting DEFINITION 109 a criminal action that arises from association with and from assistance rendered to a person guilty of another criminal act. TERM 110 Bankruptcy crime DEFINITION 110 an action involving the falsification of documents filed in a bankruptcy case TERM 121 Intent to defraud DEFINITION 121 applies to an individual who knowingly and willfully makes a misrepresentation of a material fact that is relied on and thereby causes injury or harm TERM 122 Knowingly DEFINITION 122 intentionally TERM 123 Larceny DEFINITION 123 the unlawful taking of personal property with the intent to deprive the right owner of this property. TERM 124 Mail Fraud DEFINITION 124 the use of the United States Postal Service or any interstate carrier to conduct fraudulent activities with the intent to deprive an owner of property. TERM 125 Misdemeanor DEFINITION 125 a criminal offense of less serious nature, generally punishable by fine or jail sentence other than in a penitentiary. commenced when gov't files information TERM 126 Nolo Contendere DEFINITION 126 a plea entered by the defendant in a criminal case that neither admits nor denies the crime allegedly committed, but if accepted by the court, permits the judge to treat the defendant as guilty. TERM 127 Obstruction of justice DEFINITION 127 a criminal act involving the interference of the administration of the laws during the investigations and conduct of trials. TERM 128 Overt Act DEFINITION 128 an essential element of crime. without this action by a party, the intent to engage in criminal activity is not wrongful. TERM 129 Pattern of Racketeering DEFINITION 129 Under RICO, two or more similar acts of organized crime in a ten year period. TERM 130 Presumption of Innocence DEFINITION 130 the basis of requiring the government to prove a criminal defendant's guilt beyond a reasonable doubt. TERM 131 Probable Cause DEFINITION 131 the reasonable basis on which law enforcement officials convince a judge that criminal activity has occurred. this is the basis that must be satisfied before a judge will issue a criminal search warrant. TERM 132 Racketeering DEFINITION 132 a crime under RICO involving a pattern of actions that are indictable under state or federal laws. TERM 133 Embezzlement DEFINITION 133 a person entrusted with another's money or property fraudulently appropriates it. TERM 134 Scheme to Defraud DEFINITION 134 a plan to misrepresent a material fact in order to obtain something, usually money, from another. TERM 135 Search warrant DEFINITION 135 a court order required by the 4th amendment to be obtained from government officials prior to private property being searched or seized TERM 146 Assumed-name statue DEFINITION 146 a state law that requires partners to make a public filing of their identities if their partnership operates under a name that does not reveal the partners' identities. TERM 147 Buy and Sell Agreement DEFINITION 147 a contract, usually among partners, but could be among shareholders, wherein one party agrees to buy the ownership interest held by another party or the first party agrees to sell such an interest to another party. these contractual provisions help provide for a transition of owners without harming the business of the organization. TERM 148 Charter DEFINITION 148 the legal document issued by a state when creating a new corporation. TERM 149 Closely Held DEFINITION 149 an organization that is owned by only a few people. TERM 150 Corporation DEFINITION 150 an artificial, but legal, person created by state law. as a business organization, the corporation's separation of owners and managers gives it a high level of flexibility. Creation: charter-incorporators. more costly licensed in other states Continuity: perpetual existence management separate from ownership Control: shareholders, directors, officers Liability: limited personal liability (piercing the corp veil. alter ego theory) Tax: double tax TERM 151 Derivative Suit DEFINITION 151 a lawsuit filed by a shareholder of a corporation on behalf of the corporation. this action is filed to protect the corporation from the mismanagement of its officers and directors. CLOSELY HELD- CONTROL TERM 152 Director DEFINITION 152 those individuals who are elected by the shareholders to decide the goals and objectives for the corporate organization. TERM 153 Dissolution DEFINITION 153 the cancellation of an agreement, thereby rescinding its binding force. a partnership is dissolved anytime there is a change in partners. a corporation's dissolution occurs when that business entity ceases to exist. TERM 154 Domestic Corporation DEFINITION 154 a business organization created by the issuance of a state charter that operates in the state that issued the charter. TERM 155 Double Tax DEFINITION 155 a disadvantage of a corporate form in that the corporation must pay a tax on the money earned and the shareholder pays a second tax on the dividends distributed. TERM 156 Foreign Corporation DEFINITION 156 a business organization created by the issuance of a state charter that operates in the states other than the one issuing the charter. TERM 157 General partner DEFINITION 157 the owner of a limited partnership that enjoys the control of the partnership's operation. this type of partner is personally liable for the debts of the limited partnership TERM 158 Incorporator DEFINITION 158 those individuals who are responsible for bringing a corporation into being. TERM 159 Jointly and Severally Liable DEFINITION 159 the legal principle that makes two or more people, usually partners, liable for an entire debt as individuals or in any proportional combination. TERM 160 Limited Liability Company DEFINITION 160 a type of business organization that has characteristics of both a partnership and a corporation. the owners are called members, and their personal liability is limited to their capital contributions. not a taxable entity. TERM 171 Publicly held DEFINITION 171 a business organization that has hundreds, if not thousands of owners who can exchange their ownership interests on public exchanges. TERM 172 S corporation DEFINITION 172 a business organization that is formed as a corporation but by a shareholders' election, is treated as a partnership for taxation purposes. TERM 173 Say-on-pay DEFINITION 173 a policy of companies that allow the compensation of executives to be reviewed by shareholders. TERM 174 Shareholder DEFINITION 174 the owners of a corporation. typically, these owners vote on major decisions impacting their corporations, most commonly the election of a board of directors. TERM 175 Sole Proprietorship DEFINITION 175 the simplest form of business, created and controlled by one owner continuity: at will of proprietor. total control personally obligated for debt-unlimited liability not taxed as an organization TERM 176 Basic Concepts of Sherman Act DEFINITION 176 Restraint of trade Monopoly Legal Analysis Sanctions Exemptions TERM 177 Types of Cases-Sherman Act DEFINITION 177 Horizontal Price Fixing Vertical Price Fixing Indirect Price Fixing Territorial Agreements Concerted Activities International Cases TERM 178 Clayton Act Sections DEFINITION 178 Price Discrimination Special Arrangements Mergers and Acquisitions TERM 179 Federal Trade Commission Act DEFINITION 179 created the Federal Trade Commission and authorized it to protect society against unfair methods of competition and regulate unfair or deceptive trade practices. TERM 180 Beneficiary DEFINITION 180 a person entitled to the possession, use, income, or enjoyment of an interest or right to which legal title is held by another; a person to whom an insurance policy is payable. TERM 181 Celler-Kefauver amendment DEFINITION 181 amendment to the Clayton Act broaden the scope of Section 7 on acquisitions and mergers TERM 182 Clayton Act DEFINITION 182 legislation passed that exempts labor unions from the Sherman act. this law expanded the national antitrust policy to cover price discrimination, exclusive dealings, tying contracts, mergers, and interlocking directors. TERM 183 Colgate Doctrine DEFINITION 183 the legal principle that allows a form of vertical price fixing in that manufacturers may maintain the resale price of their products by announcing their pricing policy and refusing to deal with customers who fail to comply with the policy. TERM 184 Concerted activities DEFINITION 184 those activities involving an agreement, contract, or conspiracy to restrain trade that may be illegal under the Sherman Antitrust Act TERM 185 Conglomerate merger DEFINITION 185 the merger resulting when merging companies have neither the relationship of competitors nor that of supplier and customer. TERM 196 Monopoly DEFINITION 196 exclusive control of a market by a business entity. TERM 197 Noerr-Pennington doctrine DEFINITION 197 this doctrine exempts from the antitrust laws concerted efforts to lobby government officials regardless of the anticompetitive purposes. based on 1st amendment freedom of speech TERM 198 Parker vs Brown doctrine DEFINITION 198 the name given to the state action exemption of the Sherman Act TERM 199 Per se illegality DEFINITION 199 Under the Sherman Act, agreements and practices are illegal only if they are unreasonable. The practices that are conclusively presumed to be unreasonable. Only proof of the activity is required and it is not necessary to prove an anticompetitive effect. RULE OF REASON TERM 200 Predatory Conduct DEFINITION 200 an anticompetitive action that is intended to drive competitors out of business. a common example occurs when a business lowers its prices in the hope of gaining such a large market share that it can then raise prices without the fear of competition. TERM 201 Predatory pricing DEFINITION 201 a policy of lowering the price charged to customers for the purpose of driving competitors out of business. prices below the seller's costs of the products sold with resulting losses to the seller. TERM 202 Price fixing DEFINITION 202 an agreement or combination by which the conspirators set the market price, whether high or low, of a product or service whether being sold or purchased. TERM 203 Product extension merger DEFINITION 203 a merger that extends the products of the acquiring company into a similar or related product but one that is not directly in competition with existing products. TERM 204 Reciprocal dealing DEFINITION 204 a contract in which two parties agree to mutual actions so that each party can act as both a buyer and a seller. the agreement violates the Clayton act if it results in a substantial lessening of competition. TERM 205 Requirements contract DEFINITION 205 a contract under which the buyer agrees to buy a certain item only from the seller. TERM 206 Resale price maintenence DEFINITION 206 manufacturer control of a brand or trade name product's minimum resale price. TERM 207 Restraint of Trade DEFINITION 207 monopolies, combinations, and contracts that impede free competition. TERM 208 Robinson-Patman amendment DEFINITION 208 the amendment to section 2 of the Clayton Act covering price discrimination. Outlawed price discrimination in interstate commerce that might substantially lessen competition or tends to create a monopoly. TERM 209 Rule of Reason DEFINITION 209 Sherman Act Contracts or conspiracies are illegal only if they constitute an unreasonable restraint of trade or attempt to monopolize. an activity is unreasonable if it adversely affects competition. requires that an anticompetitive effect be shown. TERM 210 Sherman Act DEFINITION 210 Congressional enactment designed to regulate anticompetitive behavior in interstate commerce. TERM 221 Statutory Torts DEFINITION 221 antitrust employment discrimination intellectual property STATUES NOT COMMON LAW TERM 222 Patent Law DEFINITION 222 Art. 1 Sec. 8 authorizes Congress to create patent and copyright laws TERM 223 Obtaining A Patent DEFINITION 223 explaining it with words and drawings why the invention differs from prior art precisely describing the claims that deserve the patent TERM 224 Patent Duration DEFINITION 224 Utility Patent- 20 yrs Plant Patent- 17 yrs Design Patent- 14 yrs TERM 225 Copyright automatically DEFINITION 225 original fixed in a tangible medium creative literary, dramatic, musical, graphic, audio TERM 226 Trademark Registration denied for... DEFINITION 226 if the mark is the same or similar to a mark currently used on similar related goods. if the mark contains certain prohibited or reserved names or designs (US flag, governmental symbols, immoral names or symbols) if the mark merely describes a product or service if the mark is generic and represents a product or service TERM 227 Defenses for trademark infringement... DEFINITION 227 mark is not distinctive there is little chance of the public's being confused by the use of a term trademarked by someone else the use is a fair use. TERM 228 Grand Jury DEFINITION 228 determines if there is sufficient evidence to warrant a trial must be a majority to return an indictment. does not determine innocence or guilt investigative body SECRECY Probable cause-presumption of innocence. TERM 229 Money Laundering DEFINITION 229 falsely reporting income that is obtained through criminal activity as income obtained through a legitimate business enterprise.