Importance of Negotiable Instruments
Negotiable instrument: a signed written document that can be used either as a substitute for money
or as a credit device (a means of extending credit).
- Substitutes for money: when a person pays a bill by
Offer and Acceptance: a process by which parties to a contract agree to its terms, often called mutual
assent or meeting of the minds. These terms maybe made orally, in writing, or by conduct of the
parties that recognizes the existence of a co
Commercial paper: its a special kind of instrument used in commerce and trade as a
replacement of the money its also called negotiable instrument.
Negotiable instrument: the transfer ability of such instrument from a person to another and it
Contract: any voluntary legally binding agreement between two or more parties to do or not do
something. Legally binding means that the court will enforce the agreement.
Some agreements (ex. social) are not considered contracts, since there is
An overview of Tort Law
People have a duty not to cause harm to others. If they violate that duty and someone suffers a loss, the
victim may sure the wrongdoer in a tort
Tort: wrongful act causing either physical or mental injury to another pe
Liability: violation of the duty of care, its either physical or to your property
Criminal Liability: about a crime
Tort: Wrong doing
The elements of the tort liability:
1- There must be a wrong act either intentional or non-intentional
Criminal law: its for crimes and its very specific.
Crime as matter of fact its a crime against the whole community in the west
1st part simple infructratoin - Fine + 1 week
2nd part misdemeanor less than a year in prison & fine don
Civil law establishes rules that protect the rights and property of individuals from harmful acts by other
individuals, a business, or a government. An individual who suffers personal harm or property damage
may initiate a civil lawsu