Exam Guide

Exam Guide - Parol Evidence Rule Applies: Apply: BADM 055...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Yes Does defendant desire to cause consequences? Intent Yes No Does defendant believe consequences are substantially certain to result? No No Intent Written contract? Integrated contract? Evidence prior or contemporaneous? Evidence varies contract? srepresentation, undue influence, mistake, duress, incapacity, illegality, or unconscionability? Parol Evidence Rule Does Not Apply: Evidence is Admissible Evidence of a condition precedent? Parol Evidence Rule Applies: Evidence is NOT Admissable Evidence of a clerical error? Evidence explains ambiguity? BADM 055 FINAL STUDY OUTLINE Fundamentals of Business Law Chapter 1 Nature of Law Law: A rule of civil conduct prescribed in a state, commanding what is right, and prohibiting what is wrong (William Blackstone). Function of law : To maintain stability in social, political and economic system through dispute resolution, protection of poverty, and the preservation of the state, while simultaneously permitting order and change. Laws and Morals : Are different but overlapping; law provides sanctions while morals do not. Justice: Is the fair, equitable and impartial treatment of competing interests with due regard for the common good. Right: Legal capacity to require another person to perform or refrain from performing and act. Duty: Legal obligation requiring a person to perform or refrain from performing an act. Classification of Law Substantive law: the basic law creating rights and duties. Creates, defines and regulates legal rights and duties; e.g. the rules of contract law that determine a binding contract are rules of substantive law.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Procedural law : defines the method by which to obtain a remedy in court; rules for enforcing substantive law. Public law: is the branch of substantive law that deals with the government’s rights and powers and its relationship to individuals or groups. Private law: Is a branch of substantive law, governing individuals and legal entities (such as corporations) in their relationships with on another. Business law is primarily private law. Civil law: defines duties, the violation of which constitutes a wrong against a party injured by the violation. Civil law is part of private law Criminal law : establishes duties, the violation of which is a wrong against the whole community. Sources of Law Constitution: The fundamental law of a particular level of government – establishes the governmental structure and allocates power among governmental levels, thereby defining political relationships. Judicial Review : Under the principle of judicial review, the supreme court of the US determines the constitutionality of all laws. Judicial law: - Common law - Equity
Background image of page 2
Common Law system: The US legal system, like the system first developed in England, relies heavily on the judiciary as a source of law and on the adversary system for settling disputes. Adversary system:
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/20/2010 for the course BADM 055 taught by Professor Mariamsarwary during the Spring '10 term at GWU.

Page1 / 69

Exam Guide - Parol Evidence Rule Applies: Apply: BADM 055...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online