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LST 2012 Jan 26 240 sg 1-6

4 does milton friedman believe that corporations have

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4. Does Milton Friedman believe that corporations have a social responsibility? Why? Is he absolutely against corporations furthering the public good? Explain 5. Name the six stakeholders of the business corporation? Whose interest does the law focus solely on? Mangers, Employees, Community, stockholders, customers, Suppliers. Chapter 3 1. What are federal trial courts called? Federal appeals courts? District court 2. What outcomes can a case have on appeal? Primarily hears appeals from the district courts located within its circuit. 3. Which federal judicial circuit is Kentucky in? California?
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4. How is it possible that the rights of a citizen or a corporation in Kentucky, as to federal law, be different from the rights of a citizen or corporation in California? 5. Which courts do small businesses usually get sued in? What makes such a court attractive to unhappy consumers? Inferior trial courts 6. What is jurisdiction? Explain the two types. Jurisdiction means authority of a court to hear and decide a case. The first jurisdiction over the subject matter of the lawsuit. The second kind of jurisdiction is over the parties to a lawsuit. 7. Give examples of exclusive federal jurisdiction? federal courts have exclusive jurisdiction over bankruptcy cases. 8. After filing a suit, what does the plaintiff have to do? Complaint 9. Who issues the summons? Who has to serve the defendant? The clerk issues the summons to be severed upon the defendant to notify him that a suit has been brought against him. 10. What happens if the defendant does not file an answer? May not contain denials, admissions, affirmative defenses, and counterclaims. 11. What is discovery? Why is it important? Pretrial exchange of information between opposing parties to lawsuit. 12. What is a pretrial conference? Why is it held? Process requiring the parties to disclose what evidence is available to prove the disputed facts, designed to encourage settlement of cases or to make the trail more efficient. 13. How is collection handled after a judgment is obtained against a defendant?
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