Exam (elaborations)
LOMA 311 EXAM REVIEW
- Course
- Institution
LOMA 311 EXAM REVIEW...
[Show more]
Content preview
LOMA 311 EXAM REVIEWLegislative - Answer Which American branch of government is equal to
Parliament?
State Court System - Answer Trial courts, appellate courts, and the Supreme Court
Federal Court System - ANSWER District Court, Circuit Courts of Appeals, and
Supreme Court
Affirmative Defense is an assertion of facts that constitute a defense to the
plaintiff's claim.
Interrogatories - Answer Written questions that one party prepares and that the
other side must respond in writing within a certain time
the preponderance of the evidence - ANSWER Means that the conclusion on an
issue of fact must be supported by the greater weight of the evidence (in civil
cases).
Proof Beyond Reasonable Doubt - Answer Higher degree of proof, typically
reserved for criminal situations.
Conversion: ANSWER Unauthorized dominion and control over another's property
Compensatory damages are aimed to reimburse an injured party for the amount of
monetary losses caused by the defendant's behavior.
Benefit of the bargain - ANSWER Compensatory damages awarded in a breach of
contract action.
, Punitive Damages: ANSWER Damages awarded in addition to compensatory
damages when the defendant's behavior was malicious or intentional.
Nominal Damages: ANSWER Damages granted where the plaintiff is wronged but
does not incur a loss, cannot prove the amount of the loss with reasonable certainty,
or the damage is insignificant. Not eligible for compensatory damages.
A corporation limited by shares is one whose owner's liability is limited to the
investment they made when purchasing the company's shares.
Company Limited by Guarantee - ANSWER A company whose owners promise to
pay up to a specified sum if the company is liquidated.
Federal Trade Commission Act - ANSWER Antitrust law established the Federal
Trade Commission (FTC) and granted it the authority to enforce federal antitrust
statutes.
Price Fixing - Answer An antitrust violation occurs when competitors cooperate
together to influence the pricing of a product or service.
Unfair price discrimination: ANSWER An antitrust violation arises when a seller
promises to sell products to a buyer at a lower price than the price charged to other
buyers under the same conditions.
Tying Arrangements - Answer An antitrust breach was an illegal arrangement
under which a business sells one product to a purchaser only if the purchaser also
buys a separate product from the firm.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Mirror. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76658 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now