Business Law Exam 2 Review Guide
Review the Following:
1. Definition of a contract (Agreement enforceable in Court)
2. Revocation (Up until what point can it occur?)
3. Accord and Satisfaction
4. Statute of Frauds (Look at different types of con
2 out of 2 points
In a suit against Sandy, Tippy obtains damages. In the U.S. legal system, this remedy at law is
2 out of 2 points
The stability and predictability of the law is essential to business a
Standard of Proof for a Criminal Case: Beyond a Reasonable Doubt
Review the Purpose of a Preliminary Hearing:
person with legal duty to another is required to reasonably avoid harm.
There is no general duty to rescue.
Defendant breached that duty.
Causal connection between breach and injury:
Defense to Negligence
If Plaintiff is negligent at all
he recovers nothing.
Plaintiff recovers in proportion of his loss
attributable to his negligence.
Ordinary comparative negl
Defamation: the communication (or publication)
to a third party of an untrue statement of fact
that injures the plaintiffs reputation by exposing
him or her to hatred, ridicule or contempt.
Intentional Torts that
Conversion: the exercise of dominion and
control over the personal property of another.
Trespass to Personal Property: taking,
destroying, or substantially altering personal
Ultra hazardous Activities:
Defendants activity is so dangerous that no amount of care could protect others
from the risks of harm.
Respondeat Superior and Vicarious Liability
Review Notes Chapter 1
1. Contract An agreement that can enforced in court.
2. In contract law, the withdrawal of an offer by an offeror. Unless the offer is
irrevocable, it can be revoked at any time prior to acceptance without liabil
Intentional torts require the plaintiff to prove:
Intent actual, implied or transferred.
Voluntary act by the defendant.
Review Notes Chapter 2
1. Copyright The exclusive rights of an author or originator of a literary or artistic
production to publish, print, or sell that production for a statutory period of time
A copyright has the same monopolistic na
6.67 out of 6.67 points
If you are trying to determine the value of a business, which of the following factors would be irrelevant?
None of the factors are irrelevant.
Interest rate (discount rate).
Costs incurred by t