A common law doctrine under which judges are obligated to follow the precedents established in
A federal, state, or local government agency established to perform a specific function.
Discharge: not in breach of contract
Why didnt performance completely occur?
1. condition: can occur and does occur then the contract just ends
2. substantial performance: if someone has substantially performed then
they are not liable of breach of contr
Mutual Ascent: Has to be an offer and an acceptance and the offer must be
genuine(what were the parties actually thinking at the moment and use the
reasonable person standard
Lucy vs. Zimmer: Offered money for a Zimmers farm, wrote terms of the
1. Mutual ascent: offer and acceptance are both legally valid and all parties
intend to enter into binding argument and they understand what theyre
2. Capacity: Proper age and mentally competent; it is voidable by the
To behave ethically means to have a conscious of what is wrong and right and take
responsible action after considering all the stakeholders
Primary stakeholders are people/entities that are directly impacted by a decision;
downsizing company means th
Adversarial- there is always someone on the opposing side of a case
Discovery process- each party asks the other party to turn over any info that
would be helpful and relevant to the case
o -legally obligated to hand over info
In KY you can tell some
Public law is with the government
Private law is between two individuals
o Torts: a civil wrong
Civil Law is duties between private individuals (the government can be one of
o Burden of Proof: Preponderance of Evidence (51% sure)
THE FOUNDATIO N
2012 - 2016 Mark E. Smith
These slides are for use by students currently enrolled in
CLAW 301 at the University of Louisville.
These slides should not be considered a study guide or the
sole materials subject to examin
Thinkers Guide Library
The University of Louisville
Dark Blue Pantone 275M
Amber Pantone 118M
Concepts & Tools
over one million
Richard Paul &
Why A Critical Thinking Mini-Guide?
This miniature guide focuses on the ess
Securites Act of 1933
Created to regulate the securities market.
Securities and Exchange Act of 1934
Created the SEC.
Securities Exchange Commission
SEC. Regulates the securities market.
Right of ownership with voting privileges.
Job-hiring policies that give special consideration to members of protected classes in an
effort to overcome present effects of past discrimination.
Bona Fide Occupational Qualification (BFOQ)
Identifiable characteristics reasonably nec
o Business expanded too much so it gives general codes for all states to
adopt so people would have one code to follow
o Louisiana was the only one that didnt accept it
o Primary goal is to complete the transaction
o They have to be tangi