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Legal Environment of Business I

by: Johanna Bailey

Legal Environment of Business I GBUS 20300

Marketplace > Ithaca College > General Business > GBUS 20300 > Legal Environment of Business I
Johanna Bailey
GPA 3.57

Todd Livingston

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Todd Livingston
Class Notes
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This 6 page Class Notes was uploaded by Johanna Bailey on Tuesday October 13, 2015. The Class Notes belongs to GBUS 20300 at Ithaca College taught by Todd Livingston in Fall. Since its upload, it has received 22 views. For similar materials see /class/222295/gbus-20300-ithaca-college in General Business at Ithaca College.


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Date Created: 10/13/15
Chapter 11 Key Terms Communicating Media these are tvs radios and web where offers are nt intended for anyone speci c thus are not generally considered real offers Limited Class of Offeree these type of offers pertain to a limited number of offerees such as the first ten people Offer a clear and de ned proposal insinuating a contract OutputRequirement an exception to the quantity terms for contracts under the UCC which allows merchants to purchase goods on a need based contract Reasonable ThirdParty one who would use the objective test to qualify whether or not an exchange could be considered a contract First Come First Serve a type of limited number offer pertaining to the first one Lucy V Zehmer A case is which the court decided that the contract between a farmer and his friend in a semidrunken state was legal and binding In brief the farmer was trying to play a joke on his friend when he jokingly signed a napkin promising to sell his land Offeror the one who makes the offer Power of Acceptance this power only rest with the offeree whose consent or decline would cause the establishment of a contract Reward K This is a type of offer which can only be obtained through an act Gap Filling in a contract where the price is not established the courts will decide what price the contract should have Offeree the person being offered they have the power of acceptance Objective test asking whether or not a reasonable person would see a certain exchange as a contract exchange Preliminary Negotiation this is vague and unclear proposals and answers between the offeror and offeree that does not establish a contract Vague K a vague contract in which one or more elements have been left out this type of contract is not enforceable Review Problems a Yes this is an offer because it is a promise for an act the act being me having to graduate from college b This is not an offer because her language was unclear and inde nite when she says I am considering she has not used de nite terminology to state that she WILL do something d It depends if he signs and I also write my name and promise to pay him 8500 for the BMW if this occurs then yes it is a valid contract El Not offer because the quantity terms is not met E2 Offer because the output requirement is an exception to the quantity law E3 This is still an offer in which if the price isn t settled later or is debateable the courts will decide on the price E4 This is not a n offer because there are vague part to it ie it is not enforceable in court f This is not a legitimate offer because it was not intended for me I was not the person the offer was intended for Legal Studies Chapter 7 10112010 90100 AM Assault has to be immediate attack Element has three part Act conscious volition Intent to do something Damages 9 It happened Eggshell plantiff ex Teddy bear in hand reasonable fear Psychological component of assault does not always constitute an eggshell plantiff s claim Physical part of assault Definition of battering 9 harmful and offensive contact delicate constitution eggshell plaintiff will apply Battery contact with the person or something physically relative ie Purse Where to draw the line It depends on the actual act Judgment call Call on intimate contact with a reasonable person standard Intentional infliction act of extreme and outrageous conduct The jury decides based on the reasonable person standard Actual Damages money lost due to extreme and outrageous contact ie Psychiatrist receipt Have to flow directly form the evidence given False Imprisonment confining a person to a bounded area without any reasonable means of escape Act Intent and Damages If there is any reasonable ways to hurt oneself by trying to leave that would constitute no reasonable means Confinement by threats as well as physical confinement The nature of the threats has to be reasonable to leave out any reasonable means of escape Exception Shopkeeper s statute states that if you suspect a person of shoplifting you can detain someone until the police show up The shop keeper must have reasonable suspicion and the detention must be done in a reasonable time and manner Thus it depends The plaintiff can sue for false imprisonment but it depends on how reasonable the defense is which will close the case If anyone of those reasonable criteria are not met then the entire statute does not apply Intentional Torts Against Property Difference of Real Property and Fixtures Real Property is land or building fixtures are anything attached to the land or building What constitutes f the fixture would cause any damage to the property or the nature of the property is such that the fixture is meant to be there Just because you expect something there doesn t mean it s a fixture Does the place lose value due to its absence Has to do with what the overall purpose of that equipment is to the room around them Trespass to Land Act Intent and Damages Act conscious volition Intent mowing around a neighbors tree Damages first part is that there was a trespass Nominal damages would be paid unless a greater cost of damage was shown Small monetary gesture to ensure that the plantiff did win because there was a damage and liability Legal Studies Chapter 8 Industry Standard Businesses which implement security to keep their workers safe May touch on prior notice Ex Drilling oil security back up valve Negligence it depends on industry standards Industry standard can be applied in many ways Product Liability 3 causes of action three theories you can sue under Warranty only applies to sale of goods Express warranty written of expressed they need to be making a statement of fact More than just puffery boasting ie McDonald s commercials Difference between statement of fact and puffery difference bw this car gets great mileage this car get 38 miles per gallon Must be oral or written based on statement of fact Buyer must rely on that statement buyer would not have purchased the product if the warranty did not exist Implied Warranties does not have to be written or oral assumed the product will serve its purpose Key thing is that it only works if you buy it from a merchant who deals with this type of good Applied Warranty for a Particular Purpose only if there is some kind of exchange between the customer and the seller Even if the actual warranty contradicts this the merchant s word applies here Negligence Strict Liability 10112010 90100 AM 10112010 90100 AM


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