BUCKEYE CHECK CASHING, INC. V. CARDEGNA FACTS: Buckeye cashes personal checks for consumers in Florida. Buckeye agrees to delay submitting a check for payment in exchange for a consumers payment of a finance charge. For every transaction with Buckeye, the
Yasmin Essa September 9, 2009 BSLW-264 Professor Richard J. Barton Chapter 1 Questions 1-1 through 1-9
1. How does statutory law come into existence? How does it differ from the common law? If statutory law conflicts with the common law, which law will go
Two types of Compensatory Damages.
Special damages: Compensate for monetary damages
(medical expenses, lost wages & benefits (now and in the
future, extra costs, the loss of irreplaceable items, and
the costs of repairing or replacing damaged property).
Making ethical business decisions
Being ethical- doing the right thing-pays.
It's not an easy task, getting everyone to behave in
an ethical manner. The idea is to ge tworkers to think
in terms of how their decisions will affect the
community at large.
Jurisdiction over subject matter (con't)
Federal courts: Because the federal government is a
government of limited power (limited jurisdiction) not
every case can go there.
Article III of the constitution establishes limits of federal
powers. There are tw
What is a court?
Courts hear cases, make decisions & provide remedies.
Remedies are legal means to enforce a right and redress
(compensate) a wrong.
Today, we call them damages.
*(Compensatory damages- to put us back in a place
before it happened.*)
Co-equal Branches of Government
1) Legislative passes laws,
they approve nominations (e.g nominating posts in
government + senate has to approve)
controlling the budget,
has the power of the purse (manipulate and control
actions of another group by wit
Schools of Jurisprudential thought:
(1) Positivist school
those who adhere to legal positivism believe there is no
higher law than the nation's law. There is no such thing as
natural rights. Thus, whenever law is in essence "good" or
"bad" doesn't matter.
Chapter 1- Impact of law on business environment
Law, as defined by St. Thomas Aquinas, is the ordinance
of reason made for the common good and promulgated
by those who are charged with the care of the
(Our state legislatives, gov, etc.)
Jurisdiction over the subject matter
In both federal and state systems, there are
courts of general (unlimited) jurisdiction and
Courts of General Jurisdiction can decide
cases involving a broad array of issues (exist in
(1) Duty: Defendant owed a duty to care to plaintiff.
(2) Breach: Breached that duty.
(3) Causation: Breach caused the plaintiff's injury
(4) Damages: Plaintiff suffered a legally recognizable
Duty of Care and Breach
Basic principle= People are fr
ADR -> Alternative Dispute Resolution
ADR is cheaper, less time consuming, and can be
More than 90% of civil lawsuits are settled through
one of the means of ADR
Sometimes forced to do so by contract.
First form of ADR is Negotiation
to determine whether there is jurisdiction over a
1) Passive= no jurisdiction (website is there but isn't
2) interactive= jurisdiction (website is there but is doing
things e.g selling goods "putting goods into stream of
duty to do something is not legally sufficient
consideration. (Also foreseeable difficulties such as
worker wages, not making enough money, prices
change is not sufficient).
-E.G. A sheriff that already works to capture criminals, will
not serve as consid
Invasion of privacy (intentional tort cont'd)
Four acts qualify as invasion of privacy:
(1) Appropriation of identity: Taking someone's name or
likeness for commercial purposes without permission.
Right to privacy includes the right to your identity.
Intentional Torts Against Persons (cont'd)
The law assumes that individuals intend the normal
consequence of their actions.
Thus, forcefully pushing another-even if done in jest and
without evil motive- is a tort if injury results.
Assault is a
Strict Product Liability
Liable for defective products that injures someone or if
the product was dangerous and unsafe.
(1) Manufacturing Defects
-Product departs from its intended design.
-Liability is imposed on the manufacturer regardless of
-But they cannot unreasonably interfere with another's
business in an attempt to gain better share of the market.
-Difference between competitive practices and predatory
behavior (actions undertaken with the intention of
unlawfully driving competition out
Everyone knows ignorance of the law is no excuse.
Ordinarily, ignorance of what the law is, or a
mistaken idea about it, is no defense.
Mistaken of fact as opposed to a mistake of law is a
defense if it negates the mental state necessary to
agrees to offer 100 units of furniture for a price of $50 per
unit, with this offer good for 60 days,"
An option contract is created when an offeror promises to
hold an offer open for some specified period of time in
return for some payme
Precedent-> Decision that gives court an example to
follow in deciding subsequent cases involving identical or
similar legal principles or facts.
Judges are obligated to follow the law within their
Jurisdiction is the geographic area in which
Contract: Valid agreement between parties who have capacity to contract in
terms of which a bargain for exchange will take place (consideration) to effect a
legally acceptable (not contrary to the law) transaction.
Valid contract: Contract compl
Corporate Expansion & Growth
Merger: Survival of fittest: combination of 2 corp./more corp.s = only one
continues & other one ceases to exist: A + B=Bigger A.
Consolidation: Lets combine resources =new beginning: combination of
2/more corps.= each ceases
Sole proprietor: Single owner, e.g., convenience store on block + enjoys all
benefits (all proceeds) + cons=bears all losses alone.
Franchise: Starbucks=buys license from established group=use trade mark, etc.
pro + con?
LLP: Limited liabil
ACCT 202 Principles of Managerial Accounting Professor Steve Markoff MAJOR IDEAS ON MID-TERM #1 Study Guide by Topic
o o o o o o o o o o o o CostAllocation: Reasonsforallocation Definitions: costobjects,costpools,allocationbase, allocationrate o o Pricin
The Quadrangle Ms. Wayne is an 87 year old senior who is considering moving into an independent-living senior living community. She has chosen a community known as The Quadrangle. She is considering either the one bedroom unit, or the one bedroom with den
ACCT 202 Professor Steve Markoff Discussion/Presentation Highlights (Ch 6) Thursday October 29, 2009
Here are the most important points of our meeting on Thursday 10/29. Please review this and make sure you understand what we discussed in these terms. Thr
MONTCLAIR STATE UNIVERSITY SCHOOL OF BUSINESS (SBUS) Department of Accounting, Law and Taxation FUNDAMENTALS OF MANAGERIAL ACCOUNTING SYLLABUS & COURSE PROCEDURE OUTLINE FALL 2009 ACCT 202 Day
Catalogue Description: This course introduces basic concepts o