STUDY GUIDE FOR EXAM #3
What are the rules that the courts use to interpret the intentions of the parties to a contract?
The courts use a three-pronged test to interpret the intentions of the parties as to which States law
will apply. That test
1. In such situation if I have left the apartm
1. A tort is a civil wrongdoing that causes an individual to suffer damages. The victim may recover
as a consequence of the damages or have their damages repaired. In order for a tort to be
proven it must consist of the following: The Plaintiff must prove
BUAD 3250-01I & 02I
Study guide for exam #1
Items 1 thru 17 in the Notes
Terminology of the Court System is important.
Who files a lawsuit?
Who is a lawsuit filed against?
What is a plaintiff and a defendant?
What are the two main kinds of jurisdiction th
1A. This past April I traded in my vehicle which was paid off for a newer car. Once the trade in amount
was applied to the buying amount of the new car I still owed money to the dealership. I took out a
vehicle loan through the bank. I entered into an exp
1. When buying out my neighbors hardware store at least 15 days prior to the sale I will publish in the
local newspaper the details of the sale. With at least 10 days prior to the sale I will be provided with a
complete inventory of what is being sold, as
All contracts have to be for a lawful purpose. If a contract is prohibited by law or calls for the performance of an
illegal act or a tort then it is a void contract. I have picked out certain areas of contract law to that I feel are very
Study Guide for Test 2
You should know about the Essential Element of a Contract known as Legality of Contracts.
Review the notes on the Truth In Lending Act its requirements, when does it apply and what are the
penalties for failure to comply with the ac
June 24, 2016
STUDY GUIDE FOR EXAM #4
Be sure to watch the videos that pertain to ITEMS #45 thru ITEM #48 several times.
Know the parties to a negotiable instrument (Drawer, Drawee, Payee, Endorser Endorsee,
Drawer- the party who creates the obli
Item 1 - Courts and Court Procedure
We will go through a fact situation in class and I will walk you through a typical lawsuit from beginning to end. These things take time. They don't happen
in 55 minutes like they do on TV.
The lawsuit is begun by a PLA
Fair Labor Stands Act Minimum wage Section
What is the minimum wage? $7.25 per hour
What are the penalties for violating the FLSA?
Civil Pay the amount owed, plus a like sum, and attorneys fees.
Criminal - $10,000 fine or six months in prison, or both. Th
The Truth In Lending
What must you do to comply?
Disclose the following information to the consumer:
Principle amount being financed
Simple interest rate
Number of payments, amount of each payment, and total amount that will be paid
Credit life insura
Study Guide for Exam #3
This exam covers Employer-Employee Relations.
What is the Fair Labor Standards Act and who does it apply to?
Created the first minimum wage act including deducting the necessary taxes. Applies to all
employees other than the except