Business Law Final Exam: Study GuideBy: Liz EppleIntentional Torts- Person o Assault: Perceived Danger, no contact need. Battery: Assault resulting in Physical Contact.o False Imprisonment Shop Keeper’s Privilege: Merchants may reasonably detain customers if there is probable cause.o Intentional Infliction of Emotional Distresso Defamationo Invasion of Privacy Invasion of Space Can’t Use:- Likeness- Voice- Picture of Face- Personal Factso Fraudulent Misrepresentationo Abusive/Frivolous Litigation- Propertyo Trespass to Lando Trespass to Personal Propertyo Conversion: Wrongful use of another person’s property w/o just cause. o Disparagement of PropertyDefamation: wrongfully hurting a person’s good reputation.- Libelo Breach of duty in writing or digital (internet). - Slandero Breach using Speech.- (Defense) Public Figures are “Fair Game”- Unless Actual Malice is PROVENo Actual Malice: Statement made with either knowledge of its falsity or a reckless disregard of the truth.- (Defense) Privileged Speech: In personal settings, person isn’t liable for defamatory statements.o Unless published to a Third PartyNegligent Tort- Must have:o Dutyo Breacho Causationo Damages/Injury- Negligence Per Se: Intangible property right granted by federal statute to creatorof a literary or artistic production of a specified type. - Proximate Cause: What started the Actual Cause.o Ex: Truck hitting pole.- Actual Cause: What actually caused the damaged person/property.o Ex: Explosion- Defenseso Assumption of Risk- Plaintiff had knowledge of risk, but proceeded anyway.o Superseding Intervening Cause- Unforeseeable intervening cause. o Contributory or Comparative Negligence.- Plaintiff caused own injury.- Good Samaritan Statutes.o Protects someone who renders aid to an injured person from being sued for negligence.- Dram Shop Acts.o Liability for injuries imposed upon bartender and bar owner.Strict Liability- Liability regardless of Fault. In tort law, strict liability may be imposed on defendants in cases involving:o Abnormally dangerous activitieso Dangerous animalso Defective products. Copyright: Intangible property right granted by federal statute to creator of a literary or artistic production of a specified type.- 70 years after death of creator. Trademark: Distinctive mark, motto or device or emblem that a manufacturer stamps, prints or otherwise affixes to the goods it produces. - Renewable every 10 Years- Significantly Uniqueo Strong Markso Secondary Meanings- Registrationo Mark is in commerce, or is intended for commerce. o Allows use of the ®Generics receive NO protection- Ex: AspirinService Mark: Similar to trademark but used to distinguish services of one person/company from another.- Ex: Character NamesCertification Mark: Used to certify the region, materials, mode of manufacture, quality of specific goods or services.Collective: used by an organization or association - Ex: Good Housekeeping, union marks.Patent- Use and sell invention for 20 yearso Design patent: 14 years- Exceptions:o Law of Natureo Natural Phenomenono Abstract IdeasTrade Secret: Does not expire.- Includes:o Customer listso Plans, research, formulaeo Pricing infoo Marketing techniques.- Protected by State and Federal LawSole Proprietorship- No Taxes, Taxes go directly to the proprietor.- Unlimited Liability- Managed by proprietor- Difficult to Transfer- Typically a Short Life: Death Dissolves Prop.- No Formal Setup/ FilingGeneral Partnership- No Tax, Taxes are distributed upon each partner.- Unlimited Liabilityo Each person is liable for the others actions.- Managed by BOTH in relation to size.o If UNCONTRACTED is managed equally.- Difficult to Transfer- Short Life- Shared ProfitLimited Partnership- 1 General Partnero Unlimited Liabilityo Manager- Infinite Limited Partnerso Limited as much as is investedo NO Liabilityo NO Managing- Longer Life- No TaxLimited Liability General Partnership L.L.P- Same as General Partnershipo Except it has Limited LiabilityLimited Liability Limited Partnership- Same as Limited Partnership except w/ limited liability. Limited Liability Company L.L.C- Perks of a Gen. Partnership o No Liability Safe from Creditorso Manageable - Has Members- Most Popular- No TaxCorporation- Perpetual: Death of owner does not dissolve company. - Limited Liability- C Corporationo Corporate Tax Rate Double Taxed- Board of Directorso Manage Company- Easiest way to TransferSub Chapter S (Small Corporation)- No Tax- Less Than 10 Million- 100 Shareholders NO TAX = STILL HAS TO FILE PROFITS WITH
View Full Document
Unlocking...