Partnerships
What is all partners participate fully in running the business and share equally in profits and losses, even if the partners’ monetary contributions vary.
General partnership
who are responsible for the daily operations of the corporation.
Selling a product at the exact price that each customer is willing to pay.
1st degree price discrimination
This information can be critical for people with food allergies, as well as for those who need to avoid certain ingredients for health or religious reasons.
What is Food safety
Negotiating and there is not the same amount of power and respect between the parties negotiating
What is unequal bargaining power
What is a partner whose connection to the business is concealed from the public but may participate in the management of the business.
Silent partner
Shareholders have the right to look at the certified financial records of a corporation. This right also extends to other information related to exercising their voting privilege and making investment decisions.
What is inspection
contracts in which a seller agrees to sell all or a substantial portion of their products or services to a particular buyer, or when a buyer similarly agrees to purchase all or a portion of their requirements of a product or service from a particular seller.
Exclusive dealing agreement
Products ought to have warning signs to give the consumer information on the usage of the products and if any dangers exists.
What is packaging and labelling to prevent injury.
they determine; which evidence can be introduced, hear the parties’ cases, and issue decisions.
What is Arbitrators
what is a legal principle that prevents a person from going back to court as a plaintiff with the same grievance. This prevents legal harassment and abuse of legal resources.
Collateral Estoppel
The minimum number of shareholders (usually a majority) who must be present to take a vote.
Quorum
Agreements are presumed to violate antitrust laws, regardless of other factors such as business purpose or competitive benefits
Per se rule
Failure to warn, failure to give adequate warning and failure to adequately instruct.
What is warning label defects
An arbitration award may be converted to a judgment by the court, thereby creating the legal mechanism through which the judgment can be collected.
Management of business, Compensation
Interest on advance, Access to business records, Accounting, Indemnification
The presumption that corporate directors act in good faith, are well-informed, and honestly believe their actions are in the corporation’s best interest. This shields directors and officers from liability for unsuccessful or unprofitable decisions, as long as they were made in good faith, with due care, and within their authority.
What is Business judgment rule
Industries are exempted from antitrust laws:
Utilities; Railroads;Airlines; Insurance companies; Securities; and Banks
Broad promotional statement made by a business about goods or services that is not intended to be taken literally
What is puffery
Act of making, using, selling, or offering to sell a patented invention without the permission of the patent holder
What is patent infringment
An equitable doctrine for a fair distribution of a debtor’s assets among multiple creditors?
Marshalling of Assets
Doctrine that shareholders will be treated as the owners of a corporation’s property or as the real parties in interest when necessary to prevent fraud or to do justice.
Alter ego theory
Business to fix prices unilaterally or to exclude competition.
Monopoly power
Material misrepresentation or omission likely to mislead a potential customer and would mislead a reasonable customer.
What is deceptive marketing
When a trademark’s strength or effectiveness is impaired by the use of the mark by an unrelated product, often blurring the trademark’s distinctive character or tarnishing it with an unsavory association.
What is trade mark dilution