Midterm I Study Guide

Midterm I Study Guide - H ELPFUL H I NTS FOR FIRST EXAM...

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HELPFUL HINTS FOR FIRST EXAM BUSINESS 320 SPRING 2011 TERMINOLOGY YOU SHOULD KNOW AND UNDERSTAND Precedent Consideration Statute of Frauds Parol Evidence Rule Bilateral Contract Unilateral Contract Fraud Misrepresentation Third Party Beneficiary Condition (in a contract) Warranty Disclaimer Assignment Delegation Covenant Not to Compete Surety (Guaranty) Damages Compensatory damages Consequential damages Liquidated damages Punitive damages Specific Performance Cover Tort Negligence Defamation, Libel, Slander Duty Proximate Cause CONCEPTS YOU SHOULD KNOW
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Precedent What does it mean? How does it work? Bill of Rights What is it? Name 5 Statute What is it? Who makes it? Unconstitutional What does it mean? Who decides? Courts: Trial courts – know what they are State Federal Appellate courts –same When is there Jurisdiction in Federal Courts? Contracts What is a contract? What are the elements required to make a contract?
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