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Business Law notes

Business Law notes - WHY DO PEOPLE SUE Money Declaratory...

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WHY DO PEOPLE SUE: - Money - Declaratory relief: when the court declares the rights (usually within a contract) ex: custody, child support - Injunctive relief (asking the court to do something or to stop something) ex: Restraining order - Specific performance relief: I want a defended to perform a certain act (contract) ex: a unique item, real property You can sue for all as many as 50 3 TYPES (stages) OF INJUNCTIVE RELIEF: (a court-ordered act or prohibition against an act or condition which has been requested) 1. Temporary restraining order (one side the victim) beginning of the case 2. Preliminary injunction (both sides) During the case 3. Permanent injunction (either granted or not granted at the end of the case) MONETARY RELIEF: damages is an award of money to be paid to, a person as compensation for loss or injury 1. Compensatory- Money damages- standard and usual form of money damage 2. Punitive damages – designed to punish 3. Nominal damages- small damages; “so what” 4. Attorneys fees 5. Interest PUNITIVE DAMAGES: Damages awarded by a court against a defendant as a deterrent or punishment to redress an egregious (bad or offensive) wrong perpetrated by the defendant. This payment goes to the injured person STATUTE: is the product of the lawmaking of a legislature A statute is a written law passed by a legislature on the state or federal level. Statutes set forth general propositions of law that courts apply to specific situations. A statute may forbid a certain act, direct a certain act, make a declaration, or set forth governmental mechanisms to aid society. CRIMINAL CASE CIVIL CASE ELEMENTS Intentional violation of a statute Harm to another person or property or breach of a contract ACTORS Prosecutor VS defendant (Government) (Accused) Plaintiff VS defendant (Wronged party) (Party causing harm) PUNISHMENTS Fines, imprisonment, execution Defendant may have to pay the plaintiff compensatory and punitive damages CONSTRUCTIVE TRUST: A constructive trust is a legal concept created by the courts against one who, by fraud, wrongdoing, or any other unconscionable conduct, either has obtained or holds legal right to property which he ought not to HOW DO YOU GET AN ATTORNEY: - Do you need one; do you have the money ?? YOU NEED AN ATTORNEY IF: 1. Criminal charges/ Accident/ injuries 2. Custody and divorce 3. Bankruptcy Wills / Guardian/ adoption 4. Sued (no small clams) 5. Taxes PLACES TO GET A LAWYER: 1. People the you trust
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2. bar associations (local, state) 3. Yellow pages / internet INTERVIEWING A LAWYER - Make sure your confortable - Make sure they know what they are doing - Focus on the wholes in your case (he has to explain them to you), so you would know how to defend your case - hire a lawyer before you have a problem*** LEGAL FEES: - flat fee - Contiguous fee (lawyer gets a quarter or a third when recover (usually personal cases) - Hourly fee (Have a written contract of how exactly you paying your lawyer) COST BENEFIT: determine if suing this person is worth it. Make sure there will be a good outcome.
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