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BSL 212 Final Exam Study Guide With 100% Complete Solution, Exams of Advanced Education

University of NairobiAdvanced Education

Subject Matter Jurisdiction - Correct Answer-Court's ability to hear a certain type case Federal or state Subject Matter Jurisdiction (3 Types) - Correct Answer-1) Exclusive Federal Jurisdiction 2) Concurrent Jurisdiction 3) Exclusive State Exclusive Federal Jurisdiction(5 Types) - Correct Answer-1) Bankruptcy 2) Copyright 3) Patent 4) Federal Crimes 5) Antitrust(monopoly) Concurrent Jurisdiction for Federal Questions - Correct Answer-Issues pertaining to the US Constitution or US Statute No minimum dollar amount Concurrent Jurisdiction for Diversity Jurisdiction - Correct Answer-Parties must be from different states > $75,000 in total Complete Diversity- NO opposing party can be from the same state

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BSL 212 Final Exam Study Guide With
100% Complete Solution
Subject Matter Jurisdiction - Correct Answer-Court's ability to hear a certain type case
Federal or state
Subject Matter Jurisdiction (3 Types) - Correct Answer-1) Exclusive Federal Jurisdiction
2) Concurrent Jurisdiction
3) Exclusive State
Exclusive Federal Jurisdiction(5 Types) - Correct Answer-1) Bankruptcy
2) Copyright
3) Patent
4) Federal Crimes
5) Antitrust(monopoly)
Concurrent Jurisdiction for Federal Questions - Correct Answer-Issues pertaining to the
US Constitution or US Statute
No minimum dollar amount
Concurrent Jurisdiction for Diversity Jurisdiction - Correct Answer-Parties must be from
different states
> $75,000 in total
Complete Diversity- NO opposing party can be from the same state
Personal Jurisdiction - Correct Answer-Geographic fairness/ convenience for the
defendant
Sufficient Minimum Contact- Residence, Do Business, Property, Relevant Facts
Summary Judgement - Correct Answer-No question of fact
Moving party wins under law
Final Decision- Most trial courts end here or by settlement
Contracts - Correct Answer-Legally binding agreement
4 Elements of a contract - Correct Answer-1) Mutual Assent
2) Consideration
3) Legality
4) Capacity
Mutual Assent - Correct Answer-Meeting of the minds
Both parties know and understand the agreement
Objective outward conduct
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Partial preview of the text

Download BSL 212 Final Exam Study Guide With 100% Complete Solution and more Exams Advanced Education in PDF only on Docsity!

BSL 212 Final Exam Study Guide With

100% Complete Solution

Subject Matter Jurisdiction - Correct Answer-Court's ability to hear a certain type case Federal or state Subject Matter Jurisdiction (3 Types) - Correct Answer-1) Exclusive Federal Jurisdiction

  1. Concurrent Jurisdiction
  2. Exclusive State Exclusive Federal Jurisdiction(5 Types) - Correct Answer-1) Bankruptcy
  3. Copyright
  4. Patent
  5. Federal Crimes
  6. Antitrust(monopoly) Concurrent Jurisdiction for Federal Questions - Correct Answer-Issues pertaining to the US Constitution or US Statute No minimum dollar amount Concurrent Jurisdiction for Diversity Jurisdiction - Correct Answer-Parties must be from different states

$75,000 in total Complete Diversity- NO opposing party can be from the same state Personal Jurisdiction - Correct Answer-Geographic fairness/ convenience for the defendant Sufficient Minimum Contact- Residence, Do Business, Property, Relevant Facts Summary Judgement - Correct Answer-No question of fact Moving party wins under law Final Decision- Most trial courts end here or by settlement Contracts - Correct Answer-Legally binding agreement 4 Elements of a contract - Correct Answer-1) Mutual Assent

  1. Consideration
  2. Legality
  3. Capacity Mutual Assent - Correct Answer-Meeting of the minds Both parties know and understand the agreement Objective outward conduct

Consideration - Correct Answer-Both parties give something up Legality - Correct Answer-Substance of the contract is legal Capacity - Correct Answer-Mental Ability to understand the contract Sources of Contract Law(2 Types) - Correct Answer-1) State Common Law- Judicial-> Everything but sale of goods

  1. Uniform Commercial Code(UCC)- Legislative-> sale of goods 4 Types of contracts - Correct Answer-1) Expressed- words(written, text, orally)
  2. Implied- Conduct to determine Mutual Assent
  3. Unilateral- 1 promise-> reward type situations
  4. Bilateral- 2 promises-> most contracts are bilateral in nature Promissory Estoppel - Correct Answer-No contract in place but is utilized to avoid injustice 3 Elements of Promissory Estoppel - Correct Answer-Defendant makes a promise to the plaintiff The Plaintiff relies upon that promise Defendant knows/ should have foreseen the reliance of their promise Unjust Enrichment - Correct Answer-Plaintiff gives a benefit to the defendant Defendant knows of/ appreciates the benefit Unjust to allow the defendant to keep the benefit Agreement in regards to Mutual Assent - Correct Answer-Offer and Acceptance
  5. Offeror- Makes offer
  6. Offeree- Receives offer 3 Elements of Mutual Assent - Correct Answer-1) Communication- by offeror or an agent of the offeror that is made known to the offeree
  7. Intent- Objective outward conduct and the point in time that allows parties to specify what they mean in terms of negotiation within the contract
  8. Definite- reasonably definite terms Duration(8 Types) - Correct Answer-Offer remains open until it is terminated by one of these things: 1)Acceptance 2)Lapse of Time 3)Revocation by offeror 4)Rejection by offeree 5)Counter Offer 6)Death or incompetency of either party 7)Destruction of Subject Matter
  1. Fraud
  2. Non- Fraudulent
  3. Mistake Conduct Invalidating Assent- Duress (2 Types) - Correct Answer-Threat to that overcomes one's free will
  4. Physical- "Gun to the head"-> Void
  5. Improper Threat- Economic or Social-> voidable Conduct Invalidating Assent- Undue Influence - Correct Answer-Confidential(Trust)- Victim has a reason to trust Dominant vs Submissive- More Power Unfairly persuaded Voidable/ Rescission Conduct Invalidating Assent- Fraud (2 Types) - Correct Answer-Fraud in the Execution Fraud in the Inducement Conduct Invalidating Assent- Fraud-> Fraud in the Execution - Correct Answer- Misrepresentation of the contract in the core contract itself Void Conduct Invalidating Assent- Fraud-> Fraud in the Inducement (5 Elements) - Correct Answer-Misrepresentation of fact that induces a want for the contract
  6. Misrepresentation- Direct false statement, actively concealed
  7. Of Fact- No opinions, No Predictions(Expert opinion/ prediction is fact)
  8. Material- Relevant, important to the decision
  9. Knowledge- Intent to deceive
  10. Justifiable Reliance- Actively rely and must believe it realistically Voidable/ Rescission Conduct Invalidating Assent- Non-Fraudulent Misrepresentation (4 Elements) - Correct Answer-1) Misrepresentation
  11. Of Fact
  12. Material
  13. Justifiable Reliance Voidable/ Rescission Conduct Invalidating Assent- Mistake (2 Types) - Correct Answer-Belief not in accordance with facts
  14. Mutual Mistake
  15. Unilateral Mistake Conduct Invalidating Assent- Mistake-> Mutual Mistake - Correct Answer-Both parties are mistaken about the same fact

Material- basic assumption that is core to the contract not in regards to value Voidable Conduct Invalidating Assent- Mistake-> Unilateral Mistake - Correct Answer-One Party Material CAN'T VOID UNLESS: non-mistaken party knows the other party is mistaken Consideration (2 Elements) - Correct Answer-Legal Sufficiency Bargained for Exchange Consideration- Legal Sufficiency - Correct Answer-Either/And

  1. Promisor incurs legal detriment- does something that wasn't previously required of them or stops doing something that they could have done before
  2. Legal Benefit- giving something to which the promisee wasn't previously entitled to Adequacy - Correct Answer-Not required Equal value is not required Illusory Promise - Correct Answer-Purports to make promise Not Bound:
  3. Output contract- buy all made
  4. Requirement Contracts- get certain amount
  5. Conditional Promise- performance is dependent on another event Preexisting obligation - Correct Answer-Can be public or private Something previously not required to do Modification (3 Types) - Correct Answer-Changing of one or more terms of the contract Mutual Assent- both parties agree
  6. Common Law- New mutual Consideration
  7. Restatement- New consideration is not needed however and unforseen circumstance is needed
  8. UCC- Pertains to the sale of goods, no new consideration, good faith Consideration- Bargained for Exchange - Correct Answer-Trading of something Past Consideration- receiving something after one party already gave something up Licensing Statute (2 Types if not specified) - Correct Answer-If Not Stated:
  9. Regulatory- protection from unqualified people; minimum standards
  10. Revenue- tax; no minimum standards Usury - Correct Answer-Sets max interest If this occurs the Lender will forfeit(3 situations):
  11. Principal and interest
  12. Interest but still receive principal
  13. Interest that was greater than the usury rate

Minors- Liability for Neccessities - Correct Answer-Must pay a reasonable value Minors- Misrepresentation (Majority and Minority) - Correct Answer-Majority- still disaffirm; pay depreciation Minority- Can't disaffirm Incompetent Persons - Correct Answer-Person under guardianship Void Reasonable value for necessities Mental Illness or Defect - Correct Answer-Disaffirm within a reasonable amount of time Ratify when lucid (clear-headed) Voidable Reasonable value for necessities Intoxicated Persons - Correct Answer-Disaffirm promptly (When knowledge to deal occurs) Ratify when sober Voidable Other person MUST know you're intoxicated Reasonable value for necessities Statute of Frauds (6 Types) - Correct Answer-Require Written evidence

  1. Suretyship
  2. Executor Provision
  3. Marriage Provision
  4. Transfer of Land
  5. Contracts longer than 1 year
  6. Sale of goods over $ Suretyship - Correct Answer-3 parties:
  7. Creditor
  8. Debtor
  9. Surety- person helping debtor Suretyship- Main Purpose Clause - Correct Answer-Only reason to enter into the contract is for one's own benefit Doesn't have to be written Transfer of Land- Part Performance - Correct Answer-Against seller(MUST BE BOTH)
  10. Buyer pays or makes payments
  11. Buyer takes possession of or makes improvements to the property Against buyer
  12. Takes full possession of the property or if seller conveys the property to the buyer

Compliance with the Statute of Frauds (3 Requirements) - Correct Answer-No intent required No specific form (example: bar napkin) Doesn't have to be at the exact time of the contract

  1. Mentions parties involved
  2. Essential terms are present
  3. Signature of at least the defendant Statute of Frauds- Parol Evidence Rule - Correct Answer-Full and Final Expression
  4. Can't bring in additional or conflicting terms
  5. Can clarify a situation/ terms 3rd Parties to contracts (3 types) - Correct Answer-1) Assignment
  6. Delegation
  7. 3rd Party Beneficiaries Assignments (3 People involved) - Correct Answer-1) Obligor- owes something to the obligee
  8. Obligee- reciever to obligor
  9. Assignee- receiver of rights from obligee Assignments aren't assignable (4 Ways) - Correct Answer-1) Materially increased risk
  10. Highly Personal
  11. Contract Prohibits (rarely enforceable)
  12. Law Prohibits Delegation (3 Ways not allowed) - Correct Answer-Allowed unless:
  13. Personal/ Substantial interest
  14. Prohibited by contract (Can't delegate)
  15. Prohibited by law Novation - Correct Answer-All parties agree to remove the middle man completely and a new contract is formed without the third person making them irrelevant to the new contract 3rd party beneficiaries (2 Types) - Correct Answer-1) Incidental- accidental benefit to 3rd party; can't recover
  16. Intended- a) Donee can sue original obligor b) Creditor can sue obligor and debtor Condition - Correct Answer-Event that affects the parties obligation Condition- Expressed(Stated in words) (3 Types) - Correct Answer-1) Satisfaction a) Subjective- Requirement of good faith b) Objective- meets quality and standards

Equation= Loss in Value - Cost Avoided + Incidental Cost + Special Remedies- Damages-> Reliance - Correct Answer-Position of no contract Sue for whatever money was spent after the contract was formed Remedies- Damages-> Liquidated Damages - Correct Answer-Agreed upon when the contract was formed Used for damages that are otherwise difficult to calculate Must be reasonable Limitations to damage remedies (3 Elements) - Correct Answer-1) Foreseeable

  1. Certain
  2. Mitigation Remedy in Equity (2 Types) - Correct Answer-When money can't fix the problem
  3. Specific Performance
  4. Injuction Remedy in Equity- Specific Performance (3 Situations) - Correct Answer-1) Real Estate- Always
  5. Goods- Sometimes
  6. Services- Never Remedy in Equity- Injuction - Correct Answer-Court order not to do something Restitution - Correct Answer-Sue for the value of benefit Unjust Enrichment Ethical Theories (6 Types) - Correct Answer-1) Utiliatarian Ethics
  7. Deontoligcal Ethics
  8. Rawlsian Justice
  9. Front Page Test
  10. Moral Universalism
  11. Moral Relativism Ethical Theories- Utiliatarian Ethics - Correct Answer-The thing that does the most good to the most people is the right thing to do Net benefit The end justifies the means Weighting pros and cons. Ethical Theories- Deontoligcal Ethics - Correct Answer-The end doesn't justify the means It worries about individual rights of each person Kant (pioneer) said that something would be right if everyone did it.

Ethical Theories- Rawlsian Justice - Correct Answer-Peoples' actions are strongly influenced by their environments. Create rules based on a VACUUM, ignoring personal place in society Ethical Theories- Front Page Test - Correct Answer-How would you feel if everybody knew what you did? Ethical Theories- Moral Universalism - Correct Answer-The end doesn't matter An action is always right or wrong, doesn't matter which result it achieves or what other people think Not really concerned about everyone's individual rights Ethical Theories- Moral relativism - Correct Answer-Decide what is right or wrong based on the culture or individual person Ethics can't be uniform Two types:

  1. Cultural (based on cultural values and beliefs)
  2. Individual (based on individual values and beliefs) Ethical Traps (11 Types) - Correct Answer-1) Money
  3. Competition
  4. Rationalization
  5. Objectiveness
  6. Conflicts of Interest
  7. Conformity
  8. Authority
  9. Euphemisms and Re-framing
  10. Crowd Behavior
  11. Short-Term Perspective
  12. Blind Spots