- The states regulated consumer transactions, including consumer credit, for many years. Consumer issues were considered to be matters of local rather than national concern. Consumer transactions normally involve contracts a
Who can be a Principal?
Any person who has the legal capacity (meaning that they are not insane, or in certain circumstances a minor) to perform an act may be a principal and empower an agent to carry out that act. Persons, corporations, partnerships, not
Tort: Is a civil wrong. Tort law is concerned with a body of private wrongs and used to resolve social and economic policy questions. It helps protect an induvial rights with respect to their property & person. Its a complicated body of law
due to the lon
Chapter 15 Business Organizations
Deciding on the proper form of business can be the most important decision. Default rules are rules that will apply if the parties dont have an agreement to the contrary. Can also be unmodifiable mandatory rules.
Contract Law allows the party injured by a breach of contract to determine the proper remedy awarded to the victim in the hope that it will make that party whole, usually awards are cash.
- If one party believes they performed as agreed, while the other d
Chapter 20 Labor and Fair Employment Practices
FEDERAL LABOR LAWS Originally, both state and federal courts viewed workers concerted activities as common law criminal conspiracies, tortious interference with contract and antitrust violations.
1) What type of action leads to a lawsuit or case? 2) Who initiates the action? 3) Who is their attorney? 4) What is the burden of proof in the case? 5) Who generally has the burden of proof? 6) Is there a jury trial? 7 What jury vote is
necessary to win
Every resident has certain imposed duties that exist to provide order and a structure on which we can rely. A tort is a civil wrong- a breach of an imposed duty that causes harm to another person. Tort law
is the body of law dealing with civil
Chapter 29 Agency: Liability for Contracts- Agency law varies from state to state; the distinction between servants and nonservants is not significant when the
agent has entered into a contract on behalf of the principal; distinction is irrelevant in cont