Understanding Law: Constitutional, Statutory, Administrative, and Common Legal Systems, Quizzes of Banking Law and Practice

Download Understanding Law: Constitutional, Statutory, Administrative, and Common Legal Systems and more Quizzes Banking Law and Practice in PDF only on Docsity! TERM 1 Doctrine of Marginal Compliance DEFINITION 1 The idea that we will violate the law but keep boundaries intact.I.E. Violating the speeding limit TERM 2 What are the three branches of the goverment DEFINITION 2 Legislative, Executive and Judicial TERM 3 What are the four types of law? DEFINITION 3 Constitutional, statutory, administrative and common law TERM 4 Characteristics of Statutory law DEFINITION 4 Written by legislature.I.E. united states code, michigan compiled laws and ordinances. TERM 5 Characteristics of constitutional law DEFINITION 5 what the constitution says, plus court opinions.Federal, but sometimes state law TERM 6 Characteristics of Administrative law DEFINITION 6 Created by admin agencies.I.E. code of federal regulation and michigan administrative code. TERM 7 What are administrative agencies? DEFINITION 7 Groups created by legislative groups to administer law. TERM 8 Characteristics of common law: DEFINITION 8 Made by judge's previous court decisions. Considered the "Most Important" TERM 9 What are the three types of state level courts? DEFINITION 9 State Supreme CourtAppeals CourtTrials Court TERM 10 What are the three types of federal level courts? DEFINITION 10 Supreme courtCircuit court of appealsDistrict Court TERM 21 When was the first amendment ratified DEFINITION 21 1791 TERM 22 The supreme court has ____ members DEFINITION 22 9 TERM 23 Supreme court members are elected ____, unlike presidency DEFINITION 23 To life terms TERM 24 When is the supreme court members' off time? DEFINITION 24 July 1st - the first monday of october TERM 25 List the current supreme court members name's (in alphabetical order) DEFINITION 25 AlitoBreyerGinsburgKaganKennedyRobertsScalia *****SotomayorThomas TERM 26 Explain what each of these components of this citation mean: 316 U.S. 52 (1942) DEFINITION 26 316 - VolumeU.S. - U.S. report52 - Page Number1942 - Year decision was made TERM 27 What are the 3 key facts about Valentine vs. Chrestensen? DEFINITION 27 1. First case to consider advertising under the first amendment2. Chrestensen handed out invitations to tour his submarine; was told he was littering3. Wrote a protest on the back of new invitations TERM 28 What as the DECISION of the valentine vs. Chrestensen case? DEFINITION 28 Supreme Court said it was protest, but also an obvious way of overcoming the law.Win Chrestensen TERM 29 What was the significance of the valentine vs Chrestensen case? DEFINITION 29 Advertising isn't protected under the first amendment. TERM 30 What is the citation for the New York Times vs. Sullivan case? DEFINITION 30 376 U.S. 254 (1964) TERM 31 What is the new your times vs sullivan case about? DEFINITION 31 Libel TERM 32 What are the 4 KEY FACTS of the new york times vs sullivan case? DEFINITION 32 1. The court focused on the listener as the concern2. A civil rights ad was put together by 4 clergy men3. Sullivan wrote to the NYT asking them to revoke the ad due to inaccurate information.4. NYT refused(cont.)Mayor wrote a letter to NYT, NYT removed the add, Sullivan sued because of misinformation (Wrong song used in the ad) and lost TERM 33 What was the decision of the New York Times vs. Sullivan case? DEFINITION 33 Sullivan lost TERM 34 What are the 2 significances of the new york times vs sullivan case? DEFINITION 34 1. Supreme court carved out a type of advertisement that is protected by the first amendment (More like an editorial)2. Libel TERM 35 What is the citation for the pittsburgh press vs. Human Relations commission case? DEFINITION 35 413 U.S. 376 (1972) TERM 46 What did official Rehnquist do? DEFINITION 46 1. Dissented with the Bigelow vs. Virginia case ruling2. Quoted the Virginia Pharmacy vs Virginia citizens' consumer council case, "Next thing you know, the court will allow lawyers to advertise..."3. did the 4 step of hierarchy of speech determinant test on the Posadas de Puerto Rico vs. Tourism Company case as Rehnquist was just becoming the new Chief Justice of the Supreme Court. TERM 47 What is the Citation of the Bates vs. State Bar of Arizona DEFINITION 47 433 U.S. 350 (1977) TERM 48 What are the 2 key facts of the bates vs state bar of Arizona case? DEFINITION 48 1. john bates and van o'steen started a legal pratice for poeple who can't afford lawyers2. advertising by lawyers was illegal at the time; they ran an ad anyway and the state bar suspended their licenses TERM 49 What was the Decision of the Bates vs State bar of Arizona case? DEFINITION 49 The Layers (Bates) won TERM 50 What was the reasoning behind the decision of the bates vs state bar of arizona case? DEFINITION 50 Overreaching, if lawyers start advertising, this will cause overreaching (when lawyers take advantage of customers "ambulance chasing") TERM 51 What are the 2 significances of the bates vs state bar of arizona case? DEFINITION 51 1. lawyers were allowed to advertise2. reinforced the va pharmacy case TERM 52 what is the citation of the centeral hudson gas vs public service commission of new york case? DEFINITION 52 447 U.S. 557 (1980) TERM 53 What are the 2 key facts of the centeral hudson gas vs public service commission of new york case? DEFINITION 53 1. energy shortages caused prices to go up2. commission banned promo advertising for public utilities TERM 54 What was the decision of the centeral hudson gas vs public service commission of new york case? DEFINITION 54 Central Hudson won TERM 55 What was the reasoning behind the decision of the central hudson gas vs public service of new york case? DEFINITION 55 courts want a hierarchy of speechesPolitical speechArt and SciencesCommercialUnprotected (Porn) TERM 56 What are the 4 steps in the courts hierarchy of speech determinants? DEFINITION 56 1. Screening Test - is the speech lawful and not misleading?2. Is there government interest? if yes...3. Does this regulation advance the interest? if yes..4. Is it more extensive than it needs to be? TERM 57 What was the significance of the central hudson gas vs public service etc DEFINITION 57 banning advertising is more extensive than necessary TERM 58 What is the Citation of the Posadas de pureto rico vs tourism company case DEFINITION 58 478 U.S. 328 (1986) TERM 59 Posadas de Puerto rico key facts DEFINITION 59 1. Pueto Rico allowed gambling but not gambling advertising to citizens, only to tourists.2. posadas had already gotten in trouble twice for previously violating the law3. Rehnquist let the legislature decide. TERM 60 What was the Decision of the Posadas de Puerto Rico case? DEFINITION 60 Posadas De puerto Rico lost TERM 71 Citation, Edenfield vs Fane DEFINITION 71 507 U.S. 761 (1993) TERM 72 Key Facts, Edenfield vs Fane DEFINITION 72 1.Scott fane is an accountant that went door to door to help business save money2. He wasn't allowed to do in person solicitation (overreaching) aka catching someone at a moment of weakness 3. He believed he wasn't overreaching TERM 73 Decision, Edenfield vs fane DEFINITION 73 Scott fane wins TERM 74 Reasoning, Edenfield vs fane DEFINITION 74 there was no evidence of overreaching; the current policy is too extensive TERM 75 Citation of US vs Edge Broadcasting DEFINITION 75 509 US 418 (1993) TERM 76 Key facts, US vs Edge Broadcasting DEFINITION 76 1. Took place in North Carolina, just under the virginia border2. ads on lottery are illegal except if they're state lottery and done in that specific state3. edge's audience was mainly in VA so all competitors could advertise but not the edge4. edge believed the law was too extensive TERM 77 Decision US vs Edge Broadcasting DEFINITION 77 Edge Broadcasting lost TERM 78 Reasoning US Vs Edge Broadcasting DEFINITION 78 Is similar to the gambling case, they couldn't just ban the lottery all together, but could if they wanted to. TERM 79 44 Liquormart (44) vs Rhode Island Key facts DEFINITION 79 1. MOST IMPORTANT DECISION RELATING TO COMMERCIAL SPEECH2. R.I. had laws against advertising alcohol prices (more low price advertising = more attraction to booze)3. 44 ran an ad saying WOW! next to drinks implying low prices4. 44 was fined and fought it being unconstitutional TERM 80 Decision , 44 vs rhode island DEFINITION 80 44 won TERM 81 Reasoning 44 vs rhode island DEFINITION 81 1. Failed the 3rd and 4th step of the Hudson test2. Justice stevens wrote the decision -- advertising is vital to giving information to the market, the current ban was not narrowly tailored "The greater includes the lessor" is illogical TERM 82 Why are advertisement restrictions in place? DEFINITION 82 To protect the public TERM 83 What years were crucial in Oklahoma for alcohol bans? DEFINITION 83 1981, 1983, 1984 and 1985 TERM 84 in 1981, what happened in OK? DEFINITION 84 a law banning alcoholic beverage advertisements was implemented TERM 85 in 1983 what happened in OK? DEFINITION 85 lawsuit #1 occured, the 1983 law was challenged but the courts upheld the law because of belief that the ban is related to alcohol related problems/consumption. TERM 96 what happened in 1986? DEFINITION 96 Mike Synar proposed a bill to ban any and all advertising for any tobacco products TERM 97 What gaps were in the bill to ban tobacco advertising? DEFINITION 97 Does advertising for tobacco kill people?Why not just ban tobacco (doesn't work, like alcohol/prohibition) TERM 98 What happened to the bill to ban tobacco advertising DEFINITION 98 it died as there was no evidence supporting it TERM 99 in 1989 what happened DEFINITION 99 the banning of tobacco advertising came back to life, instead only restricting it. TERM 100 what was the new bill called and what did it do? DEFINITION 100 "Protect our children from Cigarettes act" put restrictions on colors, photos, typefaces etc that could be used in ads TERM 101 What happened to the protect our children form cigarettes act bill? DEFINITION 101 It failled TERM 102 What happened in 1995? DEFINITION 102 the FDA questioned the FTC about why tobaco ads hadn't been banned yet, the FDA claimed they would have banned them years prior. TERM 103 What resulted when the Tobacco ad banning situation was moved into the FDA's control. DEFINITION 103 The FDA proposed banning the ads after four months the law passed TERM 104 what is competitor protection DEFINITION 104 protecting one business from another TERM 105 Competitor protection basically is.. DEFINITION 105 trade regulation TERM 106 Consumer lead to DEFINITION 106 Torts and contracts TERM 107 Torts are... DEFINITION 107 Wrongs by a person done to another person TERM 108 "Caveat Emptor" means DEFINITION 108 Let the buyer beware. its the nuyer's responsiblity to look after themselves; sellers may lie TERM 109 what are the three magic words originally used to create a promise? DEFINITION 109 WarrantyPromiseGuaranteee TERM 110 Intent means: DEFINITION 110 Proving that a seller intended a warranty so they are held responsible TERM 121 Describe the 2 points about the sears case from 1919 DEFINITION 121 The FTC had to wait for competitors to be harmed to stop the ads, they can be stopped wheneverCapacity or tendency, ads don't actually hurt the competitor TERM 122 What happened in 1931 DEFINITION 122 The supreme Court said the FTC is a competitor protection agency, not a consumer agency. TERM 123 What amendment was declared in 1938 DEFINITION 123 The wheeler -lea amendment TERM 124 Describe the 2 points about the Wheeler - lea act DEFINITION 124 1. " Unfair methods of competition in commerce, and unfair or deceptive acts or practices in commerce, are hereby declared unlawful"2. Turned the FTC into both competitor AND consumer protection agency TERM 125 What happened in 1975 DEFINITION 125 The wheeler lea amendment was adapted, added the words "or affecting" to describe commerce TERM 126 States started passing laws to DEFINITION 126 Regulate monopolies TERM 127 These laws led to: DEFINITION 127 Trusts, created to benefit company owners and to combine smaller companies to make one bigger company. TERM 128 What occurred in 1890 DEFINITION 128 The Sherman Anti-Trust act was developed TERM 129 What is the Sherman Anti-Trust act? DEFINITION 129 Makes it illegal for companies to join together and use their power to hurt competitors TERM 130 What happened in 1906 DEFINITION 130 The pure food and drug act was developed TERM 131 What happened in 1911? DEFINITION 131 The printer's ink model statue was developed . TERM 132 What is the printer's ink model statue about? DEFINITION 132 A law that regards regulating falsity in advertising TERM 133 What was the flaw of the printer's ink model statue? DEFINITION 133 There was a hard time enforcing it because it was thought to prove falsities were intentional in (i think criminal law?) TERM 134 What two acts were developed in 1914 DEFINITION 134 The FTC act and the Clayton ACt TERM 135 The FTC act was created to DEFINITION 135 Protect businesses not consumers TERM 146 damages DEFINITION 146 not always about moneythere are a variety of possibilities TERM 147 concour DEFINITION 147 to agree on the outcome but differ on the reasoning. TERM 148 dissent DEFINITION 148 to disagree on the outcome. (could be for the reasoning or the same reasoning with a different views on the same reasoning) TERM 149 Consumerism DEFINITION 149 laws that favor the consumer TERM 150 sellerism DEFINITION 150 laws that favor the seller TERM 151 gross negligence DEFINITION 151 Reckless disregard for the truth TERM 152 negligence DEFINITION 152 making a statement without a reasonable ground to believe it TERM 153 Misrepresentation DEFINITION 153 consumer must reasonably rely on the misinterpretation to his or her detriment TERM 154 Palming off or passing off DEFINITION 154 where you represent your good as a good of another (fakes, knock offs ) TERM 155 Stipulations DEFINITION 155 two sides of the case get together and agree on certain things before the hearing. TERM 156 Fairness doctrine DEFINITION 156 if a station is going to air something controversial then that station is reasonable for giving time to other/opposing different views TERM 157 doctrine of marginal compliance DEFINITION 157 the idea that we will violate the law but keep boundaries in tact .example, speeding TERM 158 Warranty DEFINITION 158 enforceable promise TERM 159 Fraudulent Misrepresentation DEFINITION 159 A statement known by the seller to be false