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Chapters 8,9,12,13

by: Dominique Marinelli

Chapters 8,9,12,13 law 101

Marketplace > Pace University > Law > law 101 > Chapters 8 9 12 13
Dominique Marinelli
GPA 3.6
business law 1

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business law 1
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This 8 page Bundle was uploaded by Dominique Marinelli on Monday September 21, 2015. The Bundle belongs to law 101 at Pace University taught by barnet in Summer 2015. Since its upload, it has received 40 views. For similar materials see business law 1 in Law at Pace University.


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Date Created: 09/21/15
Chapter 8 Violations are not crimes 0 Conviction of a violation in New York 0 Up to 15 days in jail o Fines andor 0 Community service If dismissed on must get a certificate of disposition A felony is a crime that is punishable by imprisonment or death 0 Over 1 year in jail A misdemeanor is punishable by a fine or less than year in prison Basis of Criminal Liability 0 Mental state 0 Act was done voluntarily 0 Act or omission Forfeiture is a penalty for a crime Victims can bring civil lawsuit against wrongdoer WhiteCollar nonphysical Crimes Conspiracies 0 Crimes related to production competition and marketing 0 Money Laundering taking money from illegal activities ex drugs 0 Racketeering Bribery 0 Commercial Bribery Corrupt Influence Counterfeiting Forgery Perjury False claims and Pretenses Bad checks nonsufficient funds 0 Credit card crimes Embezzlement Obstruction ofjustice Sarbanes Oxley 0 Corporate Fraud Sarbanes Oxley Bribery vs Extortion Bribery is offering any item of value to influence the actions of an official 0 Extortion obtaining money or property by threateningblackmail 0 Criminal offence The unauthorized taking of information from a computer is made a crime under both federal and state statues Chapter 9 Tort noncriminal 3 types 1 intentional substantial certainty 2 negligence breach of standard of care 3 strict liability liability without fault most commongt negligence Criminal assault can also be a tort Examples of strict liabilities Product liability Dynamite Intentional 0 False Imprisonment o Intentional detention without consent 0 Shopkeeper s Privilege permits detention for reasonable time with suspicion Intentional Infliction of Emotional Distress o Outrageous conduct 0 Example officials tell you your parents died in a plane crash Next day parents walk in o Invasion of Privacy 0 Intrusion into private affairs Example Tiger Woods yacht Defamation o Untrue statement published to a third party that damages a person s interest 0 Slandergt oral defamation o Libelgt written photo broadcast internet Wrongful Interference with Contracts 0 3rd party interferes with a contract between B and C causing either B or C to break the contract 0 Example Disney NY post case Negngnce Exists when a person acts with less care than is reasonable causing foreseeable injury 0 Elements 0 Is there a duty 0 Is there a breach of duty 0 Is there causation 0 Was the plaintiff damaged Defense to Negligence Most states are Comparative Negligence 0 Comparative Negligence a tort rule for allocating damages when both parties are at least somewhat at fault o If Plaintiff is less greater than 50 at fault he recovers nothing Liability for Negligence o Immunity Negligently Caused Mental Distress Bystander Recovery 0 Limited to spectators who are closely related to plaintiff Example if someone runs over my baby and I witness it and have a heart attack because of it that person is responsible for the both of us Strict Liability 0 Absolute Standard of Liability 0 Few defenses Example ultra hazardous activities such as dynamite excavations Difference between Tort and Crime 0 Tort civil private no jail Crime public duty Can commit a tort that is a crime 0 Example Bernie Madoff Jail where you are held until sentenced to prison If you are convicted of a crime you wouldn t be held liable of a tort Chapter 12 A contract arises when an offer is accepted with contractual intent the intent to make a binding agreement and the acceptance is communicated properly Offer acceptance contract No deal verbally Elements of a contract 0 An agreement 0 Between competent parties 0 Based on the genuine assent of the parties that is 0 Supported by consideration 0 Made for a lawful objective and o In the form required by law Must have original signature in court No contract today requires a seal Promisor obligor make the first offer Example of implied contracts 0 Buying at CVS Classes of Contracts 0 Valid gt binding and enforceable Voidable o Circumstances allows cancellation at option of one party 0 Can resend legally o Void 0 Without legal effect Bilateral 1 promise given exchange for another Example of a unilateral contract 0 Kay an art collector promised Hammer an art student that if Hammer could obtain certain rare artifacts within two weeks Kay would pay for Hammer39s postgraduate education At considerable effort and expense Hammer obtained the specified artifacts within the twoweek period When Hammer requested payment Kay refused Kay claimed that there was no consideration for the promise Hammer would prevail against Kay based on unilateral Quasi Contract 0 Unjust for a person to receive a benefit and not pay for it BZC gt business to consumer BZBgt business to business Chapter 13 Contract must have an offer and that it was accepted 0 If either element is missing there is no contract When an offer is accepted a contract arises 0 Only the offeree can accept an offer An offer does not exist unless the offeror has contractual intent The offeror must appear to intend to create a binding obligation Whether this intent exists is determined by objective standards If the parties meet to discuss the formation of a contract at a future date is there a contract 0 There is no contract The law does not favor the destruction or overturning of contracts Mailbox Rule 0 when the parties are negotiating at a distance from each other special rules have developed as to when the acceptance takes effect based on the commercial expediency of creating a contract at the earlier period of time and the protection of the offeree acceptance upon dispatch gt revocation upon recepit


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