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L201 Exam 1 Study Guide

by: Lydia Knoll

L201 Exam 1 Study Guide BUS-L201

Marketplace > Indiana University > Business Law > BUS-L201 > L201 Exam 1 Study Guide
Lydia Knoll

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About this Document

First half of the study guide, second half coming tomorrow
Tim Lemper
Study Guide
50 ?





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This 5 page Study Guide was uploaded by Lydia Knoll on Monday September 19, 2016. The Study Guide belongs to BUS-L201 at Indiana University taught by Tim Lemper in Fall 2016. Since its upload, it has received 16 views. For similar materials see LEGAL ENVIRONMENT OF BUSINESS in Business Law at Indiana University.

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Date Created: 09/19/16
L201 Types and Order of Law: 1. US Constitution Created by Congress, ratified by population 2. Fed. Statute or Treaty Treaty: Negotiated by President, approved by US Senate Statute: Created by legislator *Treaty regulating foreign matter > Statute *Treaty regulates domestic matter… Most recent takes priority 3. Fed. Executive Order or Admin Rules and Regulation Created by Exec (President) 4. State Constitution 5. State Statue 6. State Exec. Order/ Admin Rule Created by Governor 7. Municipal Charter 8. Municipal Ordinance Created by town/city legislative body; City Council 9. Municipal Order/ Admin Rule Created by Mayor 10. Common Law Legal rules created by judges in court decisions in certain areas of law; precedents (torts, property, contracts) Jurisdiction and Venue Jurisdiction: courts power to hear and decide a case Personal jurisdiction: Where can business be sued? Where defendant resides/located, served (face to face), consent (response or contract), sufficient contacts (where defendant does business) Subject-matter jurisdiction: In what type of court? State: ANY state law or fed law EXCEPT specifically exclusive, i.e. bankruptcy, copyright, patent laws Federal: $75,000=< and claims between citizens of different citizenship, Federal law in question Venue: Proper place for case; where defendants reside, event took place (allows for evidence and witnesses), place of impact on the final event Steps: 1. Determine state of jurisdiction 2. Determine type of court 3. Determine which court of this type is a proper venue Steps of Lawsuit 1. File a complaint; pick court (above) 2. Service of Process (summons) and copy of complaint 3. Defendant Responds—Answer/ Challenge a. Denies jurisdiction, venue, legal claims b. Motion to dismiss 4. Discovery; Longest process; finding facts/arguments for BOTH sides a. Written request for documents, photos, emails, receipts. Interrogation. 5. Pleadings— pre trial a. Jury is used to determine credibility and truthfulness b. Judge determines the law 6. Trial 7. Post-Trial Pleadings 8. Appeal ADR: Alternative Dispute Resolution; both parties come to a conclusion on their own terms outside of trial Arbitration: instead of a trial, arbitrator settles disputes quicker and cheaper *businesses can’t be represented by an employee or CEO, must have lawyer Forms of Business Sole Proprietorship Partnership Limited Partnership Limited Liability Partnership Limited Liability Limited Partnership C. Corporation S. Corp Benefit Corporation Limited Liability Company *LLC, S. Corp and C. Corp = most commonly used Factors choosing bus: Taxation, owner liability, financing/capital, transferability of ownership, control/ability to manage, duration, formality/ ease to create Written by: Lydia Knoll (@lydknollFB) I began this article after Indiana’s 30­20 victory over Ball State when a solid  student turnout left either at halftime or shortly thereafter, as an investigation as  to why Indiana University students either do not attend or leave football games  early. Little did I think that Indiana head football coach Kevin Wilson would pull  out an all­time caliber of a quote today about the fan support for his program. At Wilson’s weekly press conference in Bloomington mid­day Monday he took a  shot across the bow of Hoosier Nation saying, “ I think we probably played like  our fans and just left in the fourth quarter, it looked like” in reference to the team  hitting a lull as the stadium emptied. Later on in his press conference he called  out the fans again. “It is what it is.” He said of the fan support, “We just talked  about create your own energy. I think our team's close. We don't have a long way to go but I think we're playing good. It's just, we've got good fans. Those tailgates are still there. If you buy the good enough cooler, that stuff will stay cold for you.  Just ride out the second half, man. Just play ball. I mean, we're just ­­ they're  good kids. I'm not complaining about them but the great thing about the home  crowd is the energy of the fans, and you love to have second half energy. And at  the same time, the football team has to create it. The fans aren't going to cheer if  you don't make plays.” Wilson is a coach who speaks his mind and is not wrong in his assessment of the fan support, but it still begs the question as to why can’t Indiana draw good  football crowds for the entire duration of a game? Last year, Michigan University ranked number one in attendance with an average of 110,168 fans per game with an enrollment of 42,716 students. Indiana  University had an average of 44,314 fans while simultaneously having an  enrollment of 49,927 students. While I am not disregarding the differences in the  football programs themselves, one has to wonder why such a deficit appears  between the Hoosier football attendance and other Big Ten schools, meanwhile  basketball attendance is ranked eighth in the entire nation. So I decided to find  out for myself. According to IU students, it’s quite common for the fans to attend the game but  then to leave early. Some reasons for this include intoxication, exhaustion, and  boredom. Many people claimed that they get tired of watching a super long  game, or they get hungry and decide to leave to get food rather than paying for  expensive concessions. While these reasons are understandable, they also  apply to all other Big Ten schools. Which leaves one lone explanation… the  success of the football team. Several students claimed that they stay for the  entire game while Indiana is winning or if it’s a close game; it was unanimously  decided that if Indiana had a better football record then more fans would come  and stay for the games.  All of this begs the “chicken and egg” question… what comes first? What if the  football team would achieve a better record if they had a better fan base there to  cheer them on and encourage them even in their losses? At Monday’s press  conference, Coach Wilson was spot on calling out the fan base for support and  urging them to invest in a better storage device for their beverages of choice to  be consumed after the game instead of at the end of the third quarter.  Indiana University has the student enrollment, and it has the facilities. After last  season, I am confident that Coach Kevin Wilson is building a program that soon  will be competitive with every other school in the Big Ten. The last piece of the  puzzle is getting the full support of Hoosier Nation, and putting to rest the chicken or the egg question. It may take more than a season, but Indiana has won four of their last five games overall and have been ultra­competitive at home against the  Nation’s top teams. While Memorial Stadium is not the largest venue in the Big  Ten, it has the potential to be a very loud environment. However, there is work to do on both ends. The fans should support this program because it is probably at its highest level since the mid­1990’s and is on the brink of getting to that next level, which is a consistent bowl team who is exciting to  watch. As for the product on the field, well two decades of gut punches, toe­stubs and  heartache can be difficult to come back from and there is a lot of damage to  repair.. The two entities need each other simultaneously to thrive. Effort has to be put in on both ends. The coaches and players have put in their work; it is time for  Indiana fans to invest in a better cooler for their post game beverages and return  the gesture by giving the football team four quarters of their attention. The consensus as to why students either don't show up or leave early is because the football team has to win more games. The Hoosiers need to win over the  freshman students and hook them on Indiana Football. All the other variables,  outside of the weather, are fixable. If students think food is too pricey, maybe  have a stand that takes meal points (I'm pretty sure they accept CampusAcess  already), Become bored? Well, find something more entertaining than a Pizza  Race. If they really need a drink that badly, IU should start selling beer in the  stadium. Students will buy it, maybe not four of them at seven dollars a pop, but  they'll buy at least one. Alcohol sales in the stadium would be a game changer  for both students and alumni.   While this week may turn into a "Oh Snap! Did you hear what Coach Wilson said  about the fans?" debate, the Hoosiers are undefeated and welcome a fellow  undefeated Power­Five team, Wake Forest, to Memorial Stadium at 3:30  Saturday afternoon.


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