Business Law Notes 9/30/16
Rejection: The terms of the offer may be rejected by the offeree, in which
case the other terminates.
-Any subsequent attempt by the offeree to accept will be construed as a
new offer, which the original offero
Business Law - 235 9/14/16 Some notes also in notebook
Legal Reasoning: How to answer a legal problem?
IRAC- (look at the question)
-Issue (look at the question)
Professors new email is [email protected]
Business Law Notes 10/5/16
Same formation requirements!
But E-Contracts come into attack with respect to whether the parties
voluntarily accepted the terms because the parties never actually
So BEST PRACTICES in e-Contract format
International Business Notes 10/12/16
Chapter 11: Globalization and Society
Companies must satisfy stakeholders
Foundations of Ethical Behavior:
Three levels of moral development
Business Law Notes: 9/16/16
Sources of Law
-Primary (Constitution, Statutes, Regulations, and Case Law)
-Secondary (Treatises, Compilations of Law)
Case Law/Common Law
-History of the Common Law
-How created? -> Doctrine of Stare Decisis
-Types of Prece
Business Law 10/7/16
1. If a court has previously determined that a person is mentally
incompetent, any k made by that person after the courts
determination is VOID.
-Only this persons court appointed guardian can represen
Business Law Notes 9/28/16
Classifying Ks by Validity
Requirements of a Valid Contract: (Four Requirements)
Agreement: The offeror must offer to enter into an agreement, and the
offeree must accept the terms of the offerors offer.
Business Law Class Notes 9/23/16
Contracts: Part 1
Contracts 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 pr
Business Law Notes 10/12/16
Third Party Rights
Rule: only the parties to the agreement have rights and obligations
under the agreement -> Privity of Contract
-Thus, Third parties, normally does not have rights under the contract
Two general exceptions:
Business Law Notes 10/14/16
Four situations where voluntary consent does not exist or DEFENSES:
2. Fraudulent Misrepresentation
3. Undie Influence
-Mistake: The parties entered into a contract with differe
Youve seen the PPT.youve looked at the statement.youve read things described
Hows your retention?
1. All transactions occurring between the
last statement date and this date appear
on the statement.
2. This is the lowest amount y
Click the link right below this!
Lets take a look at what affects a credit score.
MY CREDIT SCORE IS BETWEEN
MY CREDIT SCORE IS BETWEEN
MY CREDIT SCORE IS BETWEEN
You have three credit cards that you use regularly.
CREDIT CARD COMPARISON
1. Based on your chart, fill in the ranking with 1 being the best and 5 being the
2. Which credit card did you decide was best? WHY?
What exactly is a credit report?
1 A credit report includes a listing of any company/organization that has inquired
about you as being a good or bad credit risk.
1 A credit report lists all the credit you have
o Loans (student, home, personal,
1 Its a number used to estimate how much of a credit risk you are. The higher the number,
the better risk you are.
1 FICO stands for Fair Isaac Corporation who developed the complex formula used to
figure out your credit score (your credit worthiness).
1. Take a look at three different online car evaluation sites.
2. What is your FIRST impression of EACH home page? (Answer Yes, No, or Maybe)
3. Since you
COST OF OPERATING A CAR
Purchasing frequency and price
o Depends on the efficiency of your car and the number of miles you drive.
o Depends on the size of your fuel tank.
o Depends on the type of gasoline your car will use (regular, premium, di
YOUR UNDERSTANDING OF
1. Tom and Kathy were recently married and decided to buy a used car. Because
their income was limited, they looked online and in the paper for used cars. Tom
saw just the car he wanted and it was only $7,000 (sold as is) while
AAA Gasoline Index
Find Gas for Less
Find a price for gas: Using the links above, find the following gas
Northern New Jersey Bergen/Essex/Hudson
Down the shore Monmouth/Ocean County
Pick one of the five boroughs o
H ow to go from I want that house to I own that house!
1. Make sure that when you are looking to move, you will be in this new home for at least a few years. This gives
you a chance to build equity in your home.
Make sure your credit
There are different ways you can move
You can have professional movers pack, load, drive, unload and unpack
You can pack yourself and have professional movers load, drive, and unload
You can pack, load, unload, and unpack yourself
How much will this co
Economics Bingo Vocabulary Terms
1. Gross Domestic Product or GDP is the dollar value of all final goods, services, and
structures produced within a countrys national borders during a one year period
2. GDP Per Capita - Gross domestic product on a per per
Activity 1: Progressive Taxes and You
Progressive taxes take a larger percentage of income from individuals in high-income groups than from those in
low-income groups. Progressive taxes are based on the ability to pay. How does a progres
Ready to "tax" your brain? Below are some scrambled key terms from this lesson. Unscramble each
key term, and write in your answer in the space provided.
Tax paid when you fill up your car (asleniog)
Tax paid on the mak
Unit 3 Taxes Test Review
PART 1: Match the descriptions below to the correct terms found in the answer key. Write the letter
of each term in the space provided.
A. Property Taxes
K. A Greater Proportion
Unit 1 Study Guide: Fundamental Economic Concepts
The Economic Problem
There are unlimited wants and needs and limited economic resources
Societies do not have enough productive resources to satisfy everyones wants
and needs this resul
1. Economics the study of how individuals and societies make
decisions about ways to use scarce resources to fulfill wants and
2. Scarcity is the condition that results from societies not having
enough resources to produce all the