1. An express contract is one in which the agreement is shown by acts and conduct of the
1. A bilateral contract is essentially an exchange of promises.
1. An optio
Jan. 29. 2016
BUSINESS LAW | ASSIGNMENT # 2
List the steps in a lawsuit. Begin with the filing of the complaint, and explain the
points at which there can be a final determination of the parties rights in the case.
A. A lawsuit begins with
Mandatory Assignment #1 Q.15
Q 15. In which category of ethical issues do these gifts fall? Do you think the doctors act
ethically in accepting gifts, meals, and favor? The Food and Administration recently issued rules
Question 1 & 8 Page 33/34
1. List steps in a lawsuit. Begin with the filing of the complaint, and explain the points which
there can be a final determination of the parties rights in the case.
8. Indicate whether the fol
BBG 231 Page 91 Question 5
5. Hines Cosmetic Co. sold beauty preparations nationally to beauty shops at a standard or fixed-
price schedule. Some of the shops were also supplied with a free demonstrator and free
Optional H.W. #5: Chap. 12 pg. 257-9 probs.1, 9
What is a contract?
A legally binding agreement between two or more parties that is enforceable by law as a
voluntary legal agreement.
Dozier and his wife, daughter, and grandson lived
BBG 231 Page 110 Question 11
11. The planning commissioner and a real estate developer planned to meet to discuss rezoning
certain land that would permit the real estate developer to construct certain building not allowed
Optional H.W. #6: Chap. 13 pg. 279 prob.8 Chap. 14 pg. 302 prob.12
8. A signed contract agreeing to sell land he owned but reserved the right to take the hay from the land
until the following October. He gave the contract form to B, a bro
Acronym Sources of Law
Constitution(state and fed)
Precedent (stare decisis)
Statutes (state and fed)
Acronym Types of Courts
General jurisdiction (civil/criminal trials)
Original jurisdiction (auth. to hear first)
The Court System and Dispute Resolution
The Federal Court System
a Federal District Courts: general trial courts of original jurisdiction in both civil and
Jurisdiction limited to:
- Civil suits against United States of America
Review for test
Foreign Corrupt Practices Act
- Prohibits any payments to government officials to obtain or retain business
- FCPA provides limited exception facilitating payments for routine government
actions (but this is narrowly construed)
Chapter 4 The U.S. Constitution and Federal System
The constitution created a federal system with a tripartite (3-part) division of government and a
bicameral (2-house) national legislature
State police powers: general welfare, health, safety, and morals.
Comparing the traditional point of view that freedman had vs Owens point of view
Business ethics is the application of values and standards to business conduct and decisions
Balancing goal of profits with societys values is called business ethic
Third Persons and Contracts
Assignee: third party to whom contract benefits are transferred.
Assignment: transfer of a right; generally used in connection with personal property rights, as
rights under a contract, commercial paper, an insuran