Federal Government: A form of government where states
form a union and the sovereign power is divided between the
national government and the various states.
The Privileges and Immunities Clause: Article IV of the
U.S. Constitution provides tha
Consulting with an Attorney: The first step to take when
contemplating a lawsuit, or when facing a lawsuit, is to
consult a qualified attorney.
Legal Fees: The anticipated expenses of investigating and
prosecuting or defending the
Agreement: Mutual assent to a contracts essential terms,
voluntarily manifested through offer and acceptance.
Offer: An offerors promise or commitment to perform
or refrain from performing some specified act presently
or in the future.
NATURAL LAW AND POSITIVE LAW
Law: A body of enforceable rules governing relationships
among individuals and between individuals and their society.
Natural Law: A system of universal moral and ethical
principles that are inherent in human nature and that
Read chapters 4, 6 and 7. Each fully correct answer is worth 4 points.
1. What clause of the Constitution sets out to prevent states from establishing laws and
regulations that would interfere with trade and
1. There are four sources of American law. The four sources are (Executive)
Constitutional law, which is the body of law, which defines the relationship of different
entities within a state, namely, t
TYPES OF MONETARY DAMAGES
A breach of contract entitles the non-breaching party to sue
for money damages, including:
Compensatory Damages: Damages that compensate
the non-breaching party for the injuries or losses
actually sustained as a result of the bre
DISCHARGE AND PERFORMANCE
Discharge: The termination of a partys obligations arising
under a contract. Discharge occurs either when:
(1) both parties have fully performed their contractual
(2) events, conduct of the parties, or operation o
PRIVITY OF CONTRACT
As a general rule, only the parties to a contract the promisor
and the promisee owe any duties and enjoy any rights
arising from the contract. Common law recognizes three
Assignment (of Rights): A transaction whereby an
Mistake of Fact: The parties entered into a contract with
different understandings of one or more material facts
relating to the contracts performance.
Mutual Mistake: A mistake by both contracting parties
about one or more material facts generall
Contractual Capacity: The minimum mental capacity the
law requires to bind a party who enters into a contract.
The law presumes that the following classes of persons
lacked contractual capacity when they entered into a
contract to bin
Consideration: Legally sufficient value that an offeror
bargains for and an offeree gives in exchange for the offerors
Legally sufficient consideration may take the form of:
(1) promising to do something that the promisee has no
CONTRACT VS. PROMISE
Promise: A persons declaration that he will perform or
refrain from performing some present or future act.
Promisor: The person making the promise.
Promisee: The person to whom the promisor made the
Contract: An agreement bet
Crime: A wrong against society, defined in a statute, and
punishable by fines, imprisonment, or in rare cases death.
Requisites: A person may not be criminally liable unless she
(1) performed some prohibited act (or failed to perform
NEGLIGENCE: BASIC PRINCIPLES
Negligence: Failing to exercise the standard of care that a
reasonable person would exercise in similar circumstances.
Negligence requires no intent on the part of the
tortfeasor, nor does it require that the tortfeasor know o
TORTS: AN INTRODUCTION
Tort: A civil wrong, not arising from a breach of contract or
other agreement. A breach of a legal duty, proximately
causing another person harm or injury.
The duty that the tortfeasor (i.e., the wrongdoer)
violates must exist as a
Judicial Review: The process by which a court decides the
constitutionality of legislative enactments and actions by the
While the U.S. Constitution makes no mention of the
power of judicial review, Alexander Hamilton and
Business Law 1- BUSN 210
11 February 2016
1. a. There are four sources of American law. Describe each source.
There are primary and secondary sources of law. Secondary sources summarize primary sources
with books and a