Regulatory Compliance 1, 3, 4, 17

airbud123's version from 2015-10-01 19:33

Section 1

Question Answer
lawgivernmental rule prescribing conduct and carrying a penalty for violation
damagessum of money a wrongdoer must pay to an injured party
business lawrules of conduct for the performance of business transactions
common lawcustom that came to be recongnized by the courts as binding on the community
equityjustice system based on fairness; provides relief other than merely money damages

Section 2

Question Answer
restraining ordercourts temporary order forbidding an action
injunctioncourts permanent order forbidding an action
constitutiondocument that contains fundamental principles of a government
bill of rightsfirst 10 amendements to the constitution
statutelaw enacted by legaslative bodies

Section 3

Question Answer
ordinancelaw enacted by cities
codecollection of laws, rules, and regulations
precedentcourt decision that determines the decisions in similar subsequent cases
stare decisisprinciple that a court decision controls the decision of a similar future case
administrative agencygovernmental board or commission with authority to regulate matters or implement laws

Section 4

Question Answer
civil lawlaw dealing with enforcement or protection of private rights
criminal lawlaw dealing with offenses against society
crimeoffense against society
felonymore serious crime
misdemeanorless serious crime

Section 5

Question Answer
wobbleroffense that can be either misdemeanor or felony
violation/infractionoffense less serious than a misdemeanor
ethicsprinciples that determine the morality of conduct, its motives, and its duties
tort private wrongdoing for which damages may be recovered
negligencefailure to exercise reasonable care

Section 6

Question Answer
tortfeasorperson whose action causes injury
contributory negligencenegligence of the injured party
comparative negligencecontributory negligence that reduces but does not bar recovery
business torttort caused by or involving business
strict liabilitymanufacturer or product liable without proof of negligence for dangerous product

Section 7

Question Answer
confusion of sourcerepresenting goods or services of another
trademark dilutionlessening the capacity of a famous mark to identify and distinguish goods
embezzlementfradulent conversion of property
rogue programcomputer software that creates abnormal behavoir
disgorgement of profitshaving to pay back profits received illegally
debarmentprohibition on doing business with government

Section 8

Question Answer
antitrust lawstatute that seeks to promote competition among businesses
per se violationactivity that is illegal regardless of effect
acceptancewhen a buyer becomes owner of goods
judicial admissionfact acknowledged in the course of legal proceedings
auctionsal of property to the highest bidder
bidderperson who make offer at auction

Section 9

Question Answer
auction without reserveauction goods may not be withdrawn after bidding starts
with reserveauction goods may be withdrawn after bidding starts