General Business Exam 3 Review

General Business Exam 3 Review - GB 202 LEGAL ENVIRONMENT...

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GB 202 LEGAL ENVIRONMENT OF BUSINESS EXAM 3 REVIEW CHECKLIST While studying for the final exam in this course you might find it helpful to gain or check on your familiarity with the following concepts / definitions / ideas: Chapter 13 1. definition of warranty 2. express warranty 3. implied warranties 4. merchantability 5. fitness for a particular purpose 6. title 7. reasonable expectation test 8. who may enforce warranties (privity) 9. product liability theory 10. negligence 11. strict liability 12. strict liability (elements) 13. definition of a defective product 14. crashworthiness doctrine 15. defenses to strict liability 16. misuse 17. assumption of the risk 18. state of the art defense 19. buyer’s & seller’s rights & remedies under the UCC Chapters 14 & 16 20. types of freehold estates 21. fee simple absolute 22. fee simple subject to a condition subsequent 23. fee simple determinable 24. life estate 25. non-freehold estate 26. future interest 27. concurrent ownership 28. marriage (community property only) 29. tenancy in common
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30. joint tenancy 31.
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