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Business Law: Negligence and Precedence

a. Explain the significance of legal precedent.

b. Describe the elements of negligence.

c. How does an intentional tort differ from negligence?

d. Describe what is meant by the "battle of the forms"?

e. What are the elements of promissory estoppel?

f. What is a statute of limitation?

g. What are the requirements for a valid non-competition agreement?

h. To what kinds of contracts does the UCC apply?

i. What are some of the remedies available for a breach of contract?

j. Describe three types of intellectual property, and give an example of the types of property each would protect.

k.. What elements must be proven to show that a contract has been formed?

l. What is the difference between a material and a non-material breach of contract? Give an example of each kind of breach

m.. Compare and contrast two business entity types (ie: corporation vs. partnership).

n. Describe three forms of Alternative Dispute Resolution

Solution Preview

a. Explain the significance of legal precedent
Legal precedent directs a court to look to past decisions for guidance on how to decide a case before it. By using legal precedence, the legal rules applied to a prior case with facts similar to those of the case can be used to resolve the legal dispute. The use of precedent has been justified as providing predictability, stability, fairness, and efficiency in the law. It also stabilizes the law and it can remain relatively stable and coherent through the use of precedent.

b. Describe the elements of negligence
The aim of lawsuits based on negligence is to deter careless conduct and encourage responsible behavior. Negligence requires the following elements:
a. a duty of care between the parties;
b. a breach of that duty;
c. damage resulting from that breach.

c. How does an intentional tort differ from negligence?
Intentional tort is the infliction of injury or damage to property that was carried out with malice, willfulness or reckless disregard for the other person's rights. Briefly there is an intention and knowledge that the act would result in a tortuous result.

d. Describe what is meant by the "battle of the forms"?

The battle of the forms means legal disputes in which both parties recognize that an enforceable contract exists. On the other hand, parties are divided as to whose terms govern that contract. Briefly there is a conflict.

e. What are the elements of promissory estopple?
The elements of promissory estopple are:
(1) The detriment suffered in reliance was substantial in an economic sense;
(2) Substantial loss to the promise acting in reliance was or should have been foreseeable by the promisor;
(3) The promisee must have acted reasonably in justifiable reliance on the promise as made.

f. What is a statute of limitation?
Statute of Limitation sets ...

Solution Summary

A series of business law concepts are explained.

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