Legal Concepts of Business I Review Sheet PDF

Topical Review Sheet - BUSN 3302 - Legal Concepts of Business I - Spring 2025 - Prof. Burke I.​ 1-2 questions regarding textual components of syllabus excluding timetable with dates/topics (correct answer to these two questions should be obvious after reading generally thr...

Topical Review Sheet - BUSN 3302 - Legal Concepts of Business I - Spring 2025 - Prof. Burke I.​ 1-2 questions regarding textual components of syllabus excluding timetable with dates/topics (correct answer to these two questions should be obvious after reading generally through syllabus about two to three times) II.​ Definition/criteria for awarding actual/compensatory v. consequential v. punitive damages ​ Compensatory - are money awarded to an injured party that compensate for damages, injury, or another incurred loss. ○​ Compensatory damages are awarded in civil court cases where loss has occurred as a result of the negligence or unlawful conduct of another party. ○​ To receive compensatory damages, the plaintiff has to prove that a loss occurred and that it was attributable to the defendant. The plaintiff must also be able to quantify the amount of loss in the eyes of the jury or judge. ○​ Awarded in civil cases ○​ Ex. medical bills ​ Consequential - are damages that occur as an indirect result of an incident. However, in order for someone to win consequential damages in a lawsuit, the damages must have been a foreseeable result of that incident. ○​ For example, consequential damages are often awarded to reimburse an accident victim’s loss of wages, when he could not work for weeks after being injured in an automobile accident. ○​ Harm done as consequence of defendants actions ○​ Ex. Money you would have made if you went to work on days off ○​ Ex. having to pay for someone to take care of their kid because they got injured in the accident and can’t move ​ Punitive - are awarded only for the purpose of punishing the defendant for a willful or reckless act. ○​ Awarded if behavior of wrongdoing is outrageous ○​ Pay lots of money ○​ Hope to get people to realize a certain type of behavior is wrong ○​ Not really any limit ○​ Can’t get insurance for punitive damages ○​ Punitive damages survive bankruptcy ​ They will take any assets you have ○​ Ex. knowing your customers are lying about warranty length to customers ○​ Ex. a customer takes a pill that makes her sick because it interferes with her other meds. Company should have known what the medication doesn’t go with. ○​ Ex. operating a restaurant and people have tripped and gotten injured on ripped carpet and the owner doesn't do anything about it. Seems like you're intending harm at that point. Punitive damages will probably be awarded to make an example.  ○​ Avoid punitive damages: ​ Ethical business practices and procedures, coupled with risk management training, can be effective means to ward off punitive claims altogether. Insurance should be considered to hedge against catastrophic loss. If punitive claims do occur, competent counsel should be consulted immediately. III.​ Plaintiff’s v. State’s standard for proof in a civil suit v. criminal action ○​ IV.​ Standard/expectation for performance required under a contract V.​ Means to discover legal and ethical obligations: publications, conferences, collegial interaction VI.​ Common law and precedent v. statutory law VII.​ Basis for departure from following precedent VIII.​ Jurisdiction defined; basis for one State’s jurisdiction over an out-of-State defendant IX.​ Enforceability of court’s judgment/decision lacking/missing jurisdiction X.​ Jurisdiction of federal courts XI.​ Complaint v. answer XII.​ Determination and resolution of questions of law v. questions of fact XIII.​ Purpose/operation of deposition XIV.​ Determination/criteria for admissibility of evidence, witnesses, testimony, etc. in court case (must be applicable to only disputed questions of fact) XV.​ Treatment regarding admission of evidence of wrongful action/injury v. remedial action XVI.​ Treatment of unusual/unique injuries sustained by plaintiff in determination of damages XVII.​ Focus of appellate level review of lower court decision/judgment  XVIII.​ The range of law: Statutory v. Common v. Reasonable Foreseeable v. Conceivably Foreseeable XIX.​ Legal philosophies: Positivism v. Legal Realism, Natural/Humanitarian School XX.​ Ethical standards: Golden Rule, Social media test, professional Ethic, utilitarianism & Kant’s categorical imperative XXI.​ Summary judgment criteria and relevance to ethical and ultimately legal obligation XXII.​ Constitutional rights assertable by business; constitutional right unassertable by business XXIII.​ 5th Amendment v. 14th Amendment and clauses thereof XXIV.​ Application of due process clause v. equal protection clause XXV.​ Standard required for enforceability of law discriminating on basis of race or gender. Standard required for enforceability of law discriminating on basis of profession, age or religion XXVI.​ Strict liability application; avoidance of liability if no control over cause of injury XXVII.​ Relevancy of causation/reasonable foreseeability to tort liability XXVIII.​ Foreseeability and liability for ‘good Samaritan’ injury(ies) XXIX.​ Battery v. Assault XXX.​ Basis for use of deadly force XXXI.​ Criteria for intentional infliction of emotional distress XXXII.​ Defenses to intentional torts XXXIII.​ Defamation of character v. invasion of privacy XXXIV.​ Elements of negligence. Defenses to negligence including particularly point when contributory negligence absolves defendant from liability & criteria of applicability for the assumption of the risk