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Glossary of Business Law 2

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methods of discovery
make all facts known to all parties before trial
answer
defendant's response to each accusation and statement of all defenses s/he plans to use
characteristics of a contract
9 -- valid, void, voidable, express, implied, bilateral, unilateral, oral, written
contract
any agreement enforced at law
voir dire
jury selection
complaint
plaintiff's written accusations
elements of a contract
6 -- offer, acceptance, genuine agreement, consideration, capacity, legality
law of torts
free from bodily harm, enjoy a good reputation, conduct business w/o interference, have property free of damage or trespass
Landrum-Griffin act
must register bylaws and constitutions with secretary of labor
Fair Labor Standards act
1938 -- must wait 30 days to ship to another country/state goods made by child labor
warranty of merchantability
pass w/o objection in contract description, fit for ordinary purposes, adequately packaged, conform to promises on package
privity of contract
individual contract for warranties -- no longer required, applies to all
genuine agreement
"meeting of the minds"
tort
1 person interfering with another's rights through negligence, intent, or liability
implied warranty
imposed by law; not in writing
sources of law
fed and state constitutions, english common law, court decisions, administrative law, statutes
barter
exchange of goods for goods
offer must...
3 -- seriously intended, definite and certain, communicated to offeree
employee at will can be dismissed if not violating
public policy, implied contract, implied covenant
revocation
any time before acceptance due to : rejection, counteroffer, expiration of time, death/insanity
nuisance
anything that interferes with the enjoyment of life
conversion
unauthorized taking of another's posessions
Taft-Hartley Act.
1947 --- 60-day cooling off period, prevent feather bedding, prohibit union shops, advance notice of strikes
bill of sale
receipt
Wagner Act
1935; pro-union; encourage collective bargaining

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