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Intro To Bus Law

by: Dr. Alexandro Mosciski

Intro To Bus Law BSL 212

Dr. Alexandro Mosciski
GPA 3.98

K. Turner

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K. Turner
Class Notes
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This 9 page Class Notes was uploaded by Dr. Alexandro Mosciski on Thursday September 17, 2015. The Class Notes belongs to BSL 212 at University of Miami taught by K. Turner in Fall. Since its upload, it has received 14 views. For similar materials see /class/205778/bsl-212-university-of-miami in Business Law at University of Miami.


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Date Created: 09/17/15
CHAPTER 3 Civil Dispute Resolution 1 Jurisdiction Power of a court to hear and decide a case Not every court has the Power to do so Ifyou go to a court that does not have jurisdiction the case will be dismissed A State Court Each state has one i Subjective matter jurisdiction Only have the power to hear speci c cases Small claims court only has the power to hear cases under 500 ii Personal Jurisdiction Jurisdiction over the parties bound by the court 1 The defendant voluntarily subjects himself to the courts order in that state a The defendant enters a contract Forum Selection Clause that says you are subject to the state of a contract b The defendant fails to challenge the courts personal jurisdiction by saying You do not have personal jurisdiction 2 The defendant is a resident of that state 3 The defendant is served with process in the state Complaint and summons 4 Specific Jurisdiction The defendant does business entersbreaches a K or commits a tort in the state and the lawsuit relates to that conduct 5 General Jurisdiction The defendant has sufficient minimum contacts a Exception Does not include social ecents iii In Rem Jur Real Esate l The court can determine ownership of real estate located within their state even though it may impact something whom they don t have personal jurisdiction over B Federal Courts Not every case can be heard in the Federal Court i Subject Matter The power to address the subject matter of the case 1 Exclusive SMJ a Federal Crimes must go to the federal Court b Bankruptcy c Intellectual property Patents trademarks etc 2 Concurrent SMJ Can go to either the federal court or the state court a Federal Question Jurisdiction b Diversity Jurisdiction i A resident of l statecountry sues a resident of a different state country and must be gt 75000 CHAPTER 6 Business Ethics 1 Moral Philosophies A Ethical Fundamentalism Approach that when deciding what to do you look to some external source that dictates what is right and what is wrong External Source Codes of Conduct B Ethical Relativism There is NO absolute morality Rather you need to look at the culture or the circumstance of the decision Draw backs Always try to justify your behavior Teology Outcome based What matters is the consequences of your action Consequences dictate what is right and what is wrong 1 Egoism Maximize your self interest That is the right thing to do 2 Utilitarianism Outcome based Under this theory what is right is what is the greatest good for the greatest number a CostsBenefits b Strengths 1 Efficient 2 Objective 3 Suitable for businesses c Weakness l Ignores rightsjustice 2 Problems of measurement D Deontology Duties Rights based 1 Kant a Golden Rule Do unto others as you would like done unto you bRight to be treated as an End Social Justice Fairness What is ethical is what is fair a Veil of Ignorace We should look at what a group of hypothetical people and their job is to distribute in a veil of ignorance Not knowing their capabilities 3 Duty of Care The idea is that we have a higher duty of care to those whom we have a relationship vs utilitarianism 4 Virtue Ethics Idea that when deciding what to do you would act in a virtuous way Honesty respectful hardworking loyal O N CHAPTER 9 Introduction to Contracts I III Elements of a contract Binding agreement What is binding A Agreement 1 Offeror makes an offer 2 The offeree accepts B Consideration What the offeror asked for in exchange for the promise 1 Exceptions have been created C Legality Must be for a lawful purpose D Capacity 1 Under 18 2 Intoxication 3 Mentally Handicapped Classi cation of Ks Bilateral Ks Offeror and Offeree made a legally binding K A promise for a promise Unilateral Ks Just one of the parties Offeror has a legally binding K A promise for an act Express K Created by the party s words Implied K Created by the party s actions Valid K K that has all of the elements and is COMPLETELY enforceable a Unenforceable K Has all the elements but is unenforceable for some other legal w F1150 reason b Voidable K K that is otherwise enforceable but one of the party s has the to cancel the contract if they choose c Void Agreement No K at all it does not exist F Executory K a Has not been fully performed b Executed K Has been fully performed Alternative Theories of Recovery A Quasi K Almost a K but not a K a Doctrine that courts use to prevent unjust enrichment b Element i Plaintiff conferred a bene t from a defendant AND ii Defendant knowingly accepted the bene t AND iii Unfair for a defendant not to pay iv Defendant pays reasonable value B Promissory Estoppel Someone makes a promise and doesn t do it a Protects reasonable reliance b Elements i Promisor made a promise ii Promisor should have anticipated promisee would act in reliance iii Promisee acted in reasonable reliance iv Promisee will suffer detriment c Promisor must pay reliance damages IV Sources of Law A Common Law Ks for Real Estate and Services B UCC Article 2 Supercedes certain common laws Ks for the sale of goods C CISG Parties have places of business in two different countries have adopted the CISG a Parties can opt out h Only applies to commercial transactions c Does not apply to non commercial items CHAPTER 10 Mutual Assent 1 Offer Made by the offeror A Elements a Must have evidence that the offeror objectively intends to be bound i Objectively intends What your intent APPEARS to be bound ii Subj ectively intends What you really meant Does not count in court b AND de nite reasonable certainty as to material most important terms i Can you identify the parties subject matter is consideration spelled out quanity Unless both sides subsequently act as though they are in a K c AND communication from offeror to offeree directly B Speci c Offer Rules a Ads are NOT offers They are simply providing information about a product i Exception High speci c regarding the nature of goods services and what offeree must do to accept b Auctions are NOT offers i Exception Auctioneers reserve the right to reserve Unless auctioneer says Will sell to the highest offer because this is speci c c Rewards ARE offers to enter unilateral K s because they are very speci c i Unless you didn t know a reward was being given out Communication is missing C DurationTermination of Offers a Expiration i Terms of offer Offeror is the lVIaster of their offer offeror gets to say when offer will end ii OR Reasonable Time Depends on the time b Revocation Cancellation An offeror can revoke offer any time prior to the acceptance This is true even if they said they were going to keep the offer open i Recovation is effective when it is received 1 Exception Offer to the general public ii Exceptions to the General Revocation Rule 1 Option K Offeree pays offeror to keep the offer open 2 Firm Offer for the sale of goods UCC iii Irrevocable for time stated max 3months l Offeror is a merchant regularly sells the item 2 Signed Written 3 States that it will be held open iv CISG Commercial deals 1 Doesn t have to be a merchant and doesn t have to be written N An offer indicated it would be held open OR offeree acted in reasonable reliance on offer being held open OR Offer to enter a unilateral K You perform a Once the offeree begins performance the offer is irrevocable for the amount it would reasonably take them to nish W 5 0 Promissory Estoppel i Offeror made an offer PromisorPromisee ii Acted in reliance iii Offeree suffered consequences iv Offeror must compensate the offeree Rejection Not interested in the offer The K is overwhen the other party rejects Counteroffer Not a K Death Incapacity Destruction House is destroyed Subsequent Illegality II Acceptance Valid Acceptance A Elements a Evidence must indicate that Offeree intends to be bound b AND On the terms ofthe offer i Common Law Real Estate 1 Mirror Image Rule In order to be valid it must mirror the offer on every important term ii UCC Battle of the Forms 1 Is there a K a De nite and Timely expression of acceptance created a binding K EVEN if it adds or changes a terms of the offer UNLESS the acceptance is expressly conditioned on offeror agreeing to the added andor changed terms 2 What are the terms of the K a Unless both parties are merchants terms of the K terms of the offer b If both parties are merchants i Changed terms are not automatically included unless l Offeror objects 2 OR Original offer limited acceptance to its terms 9 rqorbsv iii CISG l Definite and timely expression of acceptance creates a binding K even if it adds changes terms Unless i 9 Acceptance is expressly conditioned Or Offeroror Objects Or Original Offer limited acceptance The added changed terms is material 111 Communication A Method Offeror is the lVIaster of their Offer i Or Reasonable method ii 1 When effective a Offeror is master of their offer b Or Mailbox rule Timely acceptance properly dispatched Via stipulatedreasonable method is effective upon dispatch 2 Silence is not acceptance unless a Offeree imposes a duty to respond b OR Course of Conduct Prior to dealins 3 CISG Acceptance is effective upon receipt 1 Organization of court systems a Trial court level i Decides what happens ii Identifies applicable rules of law iii Applies rules to facts Intermediate Appellate Court i Questions ofLaw ii Highest court of appeal c H Plaintiff d A Defendant e Discovery the parties discover everything about each others case 11 jurisdiction a State Court i Subject matter jurisdiction ii Personal jurisdiction or in rem jurisdiction state court has power to determine rights to Real Estate located within their state 1 A voluntarily subjects themselves a forum selection clause i clause that says if a dispute arises in the K a forum may be predetermined ii fail to challenge 3060 days OR A is a resident OR A is served with process while in the state OR A is being served for activities they engaged in in the state OR A quotsufficient minimum contacts i quotGeneraljurisdictionquot 9 999 b Federal Court i Subject matter jurisdiction Exclusive subject matter jurisdiction a Patent trademark copyright taX bankruptcy federal crimes 2 Concurrent SM if filed in state court A can file Motion to move to Federal Court a Federal Question jurisdiction b Diversityjurisdiction i Resident of one state vs resident of another ii AND gt75000 ii AND Personal Jurisdiction III ADR a Settlement sit down and talk b Mediation independent 3ml party help c Arbitration binding no middle ground


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