Business 80 Notes:
Absolute Privilege: Immunity, judicial proceedings and government proceedings
o Ex: statements made by attorneys and judges within the court room plus
government officials during a debate
American Arbitration Association: older, for pro
Express Authority: Authority declared in clear, direct, and definite terms, orally or in writing.
Equal Dignity Rule: If a contract being executed by an agent on the principals behalf is written, most states require that
Equal Employment Opportunity Commission (EEOC): The federal agency charged with enforcing Title VII of the
Civil Rights Act of 1964 and other federal statutes and regulations prohibiting employment discrimination.
EMPLOYMENT AT WILL
Absent a contrary provision in a written agreement between the employer and employee, employment is presumed to be
at-will - meaning that the employer may terminate the employee at any time, for any reason, or for no reason a
CONTRACT VS. PROMISE
Promise: A persons declaration that something will or will not happen in the future.
Promisor: The person making the promise.
Promisee: The person to whom the promisor made the promise.
Contract: An agreement between two or
Promise: a persons declaration that something will or will not happen in the future
o Promisor: the person making the promise
o Promisee: the person to whom the promisor made the promise
Contract: An agreement b/w 2+ competent parties, for valuable consi
ISSUES IN SELECTING A BUSINESS FORM
Entrepreneur: Someone who initiates and assumes the financial risk of a new enterprise.
One or more entrepreneurs setting out to start a business should consider the following four factors when deciding what
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
Business Law: Midterm 1
Alternative dispute resolution (ADR): resolution of disputes in ways other than those involved in
the traditional judicial process.
o Services are provided by both government agencies and private organizations
Mediation (ADR method
Economics 1B notes
December 2, 2015
Homework 6 due this Friday
All quizzes are done yay! Econ in the medias are all done too!
In class review next Monday
Final December 16th 12:00 pm, Chapter 9 through 12 is on the exam
Create questions for chapters 9 thr
Business Law Notes November 19, 2015
Example: Doctrine of Substantial performance
Gas model fireplace
Wood burning model fireplace
The contract called for a wood fireplace, not a gas model fireplace, refuse
Business Law notes November 12, 2015
1. Intentional misrepresentation- saying something is in perfect condition with knowing the issue
with it, therefore it is intentional
2. Negligent misrepresentation- saying something is in perfect co
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