Lecture Notes Week 4
Lecture Notes Week 4 FIN - 26074 - 001
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This 3 page Class Notes was uploaded by Olivia Zemanek on Thursday September 24, 2015. The Class Notes belongs to FIN - 26074 - 001 at Kent State University taught by Timothy D Ludick (P) in Summer 2015. Since its upload, it has received 212 views. For similar materials see LEGAL ENVIRONMENT OF BUSINESS in Finance at Kent State University.
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Date Created: 09/24/15
FIN 26074001 THE LEGAL ENVIRONMENT OF BUSINESSLECTURE 4 Jurisdiction is the power to hear a case A related concept to jurisdiction is VENUE Venue relates to the appropriateness for the court to hear a case Remember that just because a litigation is filed with a correct court and venue DOES NOT mean that it will necessarily be heard There are many doctrines that can stop the litigation from being heard in a court mostly for civil cases These are called Limitations of seeking legal relief 1 Concept of standing for the plaintiff to be able to present a case they must have standing meaning that there must be some real and personal loss or injury because of what the other party did 2 Concept that there has to be a case or controversy There has to be some type of remedy to fix the controversy there has to be a problem that can be solved 3 The ripeness doctrine This was related to fruit in lecture If the case has not yet ripened or matured if a loss or injury has not yet occurred then the litigation will be stopped because they need all the facts 4 Concept of mootness This occurs when the plaintiff had all the above things at one time but they are now irrelevant for a case 0 Example if someone were to file a case against a college because they denied them entrance because of race However in the meantime the individual was accepted elsewhere and graduated and got a job then the court would dismiss the case because it is now irrelevant 5 Concept of political question Many things are political depends on what politicians think If there is a political question usually the case is declined by the courts 0 Examples of political questions Should we build a wall between US and Mexico Should we send the young to Afghanistan Should we use money to protect the Pope while he is here Etc 6 Res J udicta let the judgement rest Once there has been a trial and all appeals have been pursued Parties CANNOT litigate the suit again once it has been res judicta 0 This is important because otherwise a party may continue to bring up the same case over and over again 7 In relation to res judicta the concept of collateral estoppel Once the court has litigated and the parties rights and responsibilities have happened the matter CANNOT be litigated again for recovery utilizing different legal theories It all must be done in one litigation 8 Statute of limitations mandates that a lawsuit has to be initiated in that time limit of that statute The lawsuit must be initiated in a timely matter Each matter has a different time limit 0 In some states the time limit is 2 years for an accident if it was an intentional tort must be filed within one year 0 The statute of limitations can be extended in certain situations 0 If the plaintiff is a minor when the accident occurs The time for the statute does not start until they are an adult 0 If the person becomes incompetent if they end up in a coma when the accident occurs The time does not start until they become competent 9 Concept of immunity the wrongdoer is immune they are not liable because of some legal doctrine that gives them immunity of wrongdoing Types 0 Contractual immunity When things say something like skiswimdo something at your own risk or Not responsible for damages 0 Exculpatory clause something might go wrong and if it does you can t sue us 0 Judicial immunityprosecutor immunity If the judge makes an error in the court room no one can go after the judge 10 Sovereign immunity Kind of went away after the Civil War The concept that the government could do no wrong They could only be sued if they consented to it which obviously was not likely Laws were passed that said the government could be sued only under certain circumstances Sovereign immunity is not absolute When officials operate in bad faith they can be sued All of these concepts stand that even though some injury has occurred there may be a legal doctrine that says the judge can dismiss the case Referred to as a legal excuse or summary of judgement IT is dismissed before it gets to a trial court The Trial Process There are never surprise witnesses or evidence because of the concept of discovery Each party is entitled to discover the evidence that the other side is going to use in the trial We have this concept so that cases can be settled The use of discovery will help an attorney decide whether or not the party should go to trial or not if they will win or not The purpose of discovery is to facilitate outside of the trial If the lawyer does not use the process of discovery they go in unprepared and it could be seen as malpractice Ways of discovery Deposition Attorney asks witnesses in person questions and witnesses take oath to tell truth and answer in person It is recorded in writing This will help the attorney decide whether or not the witness will be a good one to use in trial I Kept on file in case the witness disappears or dies I Also helps if the witness has a different story during the actual trial because the attorney will have proof of what they said in the deposition before Interrogatory Written questions submitted to the witness and then written answers by the witness Physicalmentalpsychological examinations and evaluations Production of documents
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