LSB 3213 Exam 1 (Okstate) Study Guide with Complete Solutions
7 views 0 purchase
Course
LSB 3213
Institution
LSB 3213
LSB 3213 Exam 1 (Okstate) Study Guide
with Complete Solutions
knowledge of "black-letter" law and what conduct leads to liability is
enough - Answer️️ -false
areas of law that affect business decision making - Answer️️ -contracts,
intellectual property, product liability, torts, sales,...
LSB 3213 Exam 1 (Okstate) Study Guide
with Complete Solutions
knowledge of "black-letter" law and what conduct leads to liability is
enough - Answer✔️✔️-false
areas of law that affect business decision making - Answer✔️✔️-contracts,
intellectual property, product liability, torts, sales, internet law (privacy),
environmental law
torts defined - Answer✔️✔️-common law jurisdiction; a civil wrong that
causes someone else to suffer loss
primary sources of law - Answer✔️✔️-those that establish the law, such as
constitutions, statutes, and regulations
what do secondary sources of law do - Answer✔️✔️-summarize and clarify
the primary sources (restatements)
deceit defined - Answer✔️✔️-a promise made without intent of performing
it
what is the fourth branch of government - Answer✔️✔️-administrative law
what does administrative law consist of - Answer✔️✔️-federal agencies and
state/local agencies
what law is American law based upon - Answer✔️✔️-English common law
what do the courts of law do? - Answer✔️✔️-they grant limited kinds of
remedies
what do the courts of equity do - Answer✔️✔️-they award non-monetary
relief
why would anyone use an equity court - Answer✔️✔️-pride and leverage
what is the hierarchy of primary sources of law - Answer✔️✔️-US
constitution, federal statutory law, state constitution, state statutory law,
local ordinance, administrative regulations, common law
have equitable maxims lost their relevance in the 21st century -
Answer✔️✔️-no
may a party request both legal and equitable remedies in the same action -
Answer✔️✔️-yes
action of law/equity initiation of lawsuit - Answer✔️✔️-filing complaint/
filing a petition
action of law/equity parties - Answer✔️✔️-(plaintiff, defendant)/(petitioner,
respondent)
action of law/equity decision - Answer✔️✔️-by judge or jury/ by judge
action of law/equity result - Answer✔️✔️-judgement/decree
action of law/equity remedy - Answer✔️✔️-monetary damages/ injunction,
specific performance, or rescission
what amendment grants the right to a jury trial to actions at law -
Answer✔️✔️-7th
what is statutes of limitations - Answer✔️✔️-a legal defense (self
explanatory)
what are laches - Answer✔️✔️-you waited an unreasonable amount of time
to file a lawsuit
define rescission - Answer✔️✔️-undo or terminate a contract
define stare decisis - Answer✔️✔️-a common law doctrine under which
judges must follow precedents established in prior decision
how do judges make their own decisions - Answer✔️✔️-they apply the law
to the facts of the case
what are the 2 aspects of stare decisis - Answer✔️✔️-a court should not
overturn its own precedent unless it has a compelling reason not to,
decisions made by higher courts are binding to lower courts
define binding authority - Answer✔️✔️-any source of law a court must
follow when deciding a case
define a controlling precedent - Answer✔️✔️-a binding authority that
requires a court to follow prior court decisions in its jurisdiction
what happens if there is no authority - Answer✔️✔️-it is called a case of first
impression
3
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SophiaBennett. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
