Business Law Final Exam

• Wrongs against society
- Criminal law punishes wrongdoers who affect the ownership of property
- Federal and state penal codes define criminal acts and omissions

any illegal offense that occurs in a business or professional setting

A group of citizens that decides whether there is sufficient evidence to accuse someone of a crime. No judge is present, it is before trial

Protects individuals from the power of the government( includes person accused of crime).
Was Congress' response to concerns that the Constitution gave too much power to a central government at expense of individual citizen.
Includes protecting businesses from excessive regulation

Sole Proprietorship

-mail and wire fraud
-securities fraud
-health care fraud
-counterfeiting
-bankruptcy

Fraud can be a tort a provide a basis for undermining the validity of a contract. Can be criminal in nature.

True

theft of personal property to deprive the owner of it permanently

-Robbery: larceny by violence or threat
-Burglary: involves breaking in somewhere with intent to commit felony
-Embezzlement: when a person entrusted with someone else's money or property takes it

sole proprietorship, partnership, corporation

True

Limited partners are not involved in operations- not liable
General partners control organizations actions- liable

boards, bureaus, commissions, and organizations that make up the governmental bureaucracy

Quasi-legislative: Agencies issue rules that have the impact of laws
Quasi-judicial: agencies make decisions like a court

Provide Specificity
Provide Expertise
Provide Protection
Provide Regulation
Provide Services

rule making, adjudicating, advising, investigating

True

1. Government regulation of itself
2. Government regulation of business
3. Suits by private individuals

Influences the decision making concerned with federal funding or license granting.
Imposes specific action forcing requirements on federal agencies

an approach to see the impact in monetary terms

Determining the important issues that should be addressed

basis lies in defendants breach of his or her duty to use ordinary and reasonable care which causes injury to the plaintiff

employer and employee
principal and independent contractor
principal and agent: one person (agent) is authorized to act for another (principal) in a relationship founded on trust and confidence

"Actual" - Express or implied. (What is reasonably necessary for agent to carry out express authority)
"Apparent" - from perspective of third party
-No authority- unauthorized acts

Actual authority- principal is bound to contract
Apparent authority- principal is bound is to contract, agent must identify principal against losses
No authority-- principal is not bound to contract

-Employee/ Agent: EMployer or pirincpal is liables for injuries that employee or agent causes to 3rd party whithin scope of employment or agency
-Independent contractor: principal is not liable for injuries that independent contractor causes to 3rd party, unless act is authorized

problem: congress has neither the time or expertise to pass laws on everything
solution: create administrative agencies and delegate to them the power to promulgate regulations to implement the laws

- specificity
-expertise
-protection of the public
-substitute regulation for unfair competition
-provide services to the public

a body created by the legislature with legislative, executive and judicial powers, which regulates the conduct and activities of businesses and individuals

law that creates the administrative agency

-Executive agencies: departments and their sub agencies
-Independent Agencies: outside of executive departments
-Hybrid: independent, but one administrator

-notice of proposed rule making
-comment period
-hearings
-final rule

Investigate: direct observations (search warrant), self reporting, subpoenas( to testify), enforcement

Agency issues formal complaint, appeal to governing board/ commission, final order of agency (administrative remedies are now exhausted), appeal to court, court order

-Reviewable issue
-Standing
-Exhaustion of administrative remedies
-Actual case or controversy

Appoint/remove head of executive administrative agencies, appoint new member to commissions and board of independent administrative agencies at end of current members terms