Unit 1
Constitutional provision that gives the federal government power to regulate interstate commerce.
Commerce Clause
Ethical framework that looks at pros and cons of actions before deciding.
Consequentialism
Elements of a criminal conspiracy.
1) Agreement between two or more people to commit a crime
2) An overt act
Document provided to potential investors detailing the company's business, past financial performance, type/amount of securities being offered, management, risks, etc.
Prospectus
The process of empaneling (seating) a jury by asking them questions. It means "to speak the truth."
Voir dire
Unusual losses that are foreseeable which result from a contract breach.
Consequential damages
Two types of "fee simple" ownership of real property.
1) Fee simple absolute
2) Fee simple defeasible
Officers and directors owe this type of duty to the company. That is to say, they must do what is the best interest of the organization.
Fiduciary duty
Implied field preemption
The four pillars of principled negotiations.
1) Separate people from the problems
2) Focus on interests and not positions
3) Generate options
4) Use objective criteria
The right to use another's property in a certain way that can be acquired by using it openly, in a non-permitted way, for a certain period of time set out by state law.
Easement by prescription
Minority shareholders can bring these types of lawsuits on behalf of the corporation.
Derivative lawsuits
Three part test for eminent domain.
1) A taking
2) Public use (purpose)
3) Just compensation
Two types of implied contracts.
1) Implied in fact
2) Implied in law (quasi-contract)
Requirements for a utility patent.
1) Patentable subject matter
2) Novelty
3) Non-obvious
4) Useful
A defense to a Disparate Treatment employment discrimination claim.
BFOQ
Three things required for a court to hear a case.
1) Subject matter jurisdiction
2) Personal jurisdiction
3) Plaintiff has standing
Lack of mutual understanding can occur in a lot of different scenarios. Four specific types of cases where this may happen.
1) Fraud
2) Duress
3) Undue Influence
4) Mistake
Copyrights protect (standard)
Original works of authorship fixed in a tangible medium
Whether a company is liable for the acts of their employees depends on this.
Whether the employee was within their scope of employment or engaged in a frolic and detour