BSL Final Exam Review

Topics: Contract, Contract law, Tort Pages: 11 (2639 words) Published: April 26, 2014
Chapter 3 – Jurisdiction
State Court:
Subject Matter Jurisdiction
Personal Jurisdiction:
Defendant voluntarily subject themselves by:
Forum Selection Clause
No challenge of lawsuit
OR Defendant is a resident (can be sued at permanent place of residence/business) OR Defendant is served with process while in the state (plaintiff files complaint, defendant receives summons = process  once received, clock starts ticking) OR Defendant did business, entered/breached a K or committed a tort in the state & the suit relates to that conduct OR Defendant has “sufficient minimum contacts” with the state (ex. Students at UMiami who permanently live in another state, have “sufficient minimum contacts” with Florida, social visits do not count) Federal Court:

Subject Matter Jurisdiction
Exclusive Jur. – a federal question (US tax, federal crime, US bankruptcy) Concurrent Jur. – can file in state/federal court, plaintiff chooses Federal Question – any case that involves a question of federal law, anything involving a federal statute Defendant can file motion to remove from state to federal

OR Diversity – plaintiff & defendant are from different places Resident of one state sues resident of another state;
AND amount is > $75,000
If diversity is satisfied, you can file any case in federal court Personal Jurisdiction

Chapter 2 – Business Ethics
Ethical Fundamentalism (absolute morality) – looks to an external source for rules of ethics  ex. The Bible, etc.  always follow these rules Ethical Relativism (no morality, anything can be justified) – acting ethically if you believe you are doing the right thing, realizes that culture & times are different Utilitarianism (outcome based) – whatever makes the greatest good for the greatest amount of people = greatest net benefit for society Deontology (duty based) – Kant’s categorical imperative

Social Ethics Theories (fairness) – Rawls’ “veil of ignorance”  society should be governed by this set of rules, made by people who are completely ignorant of their future, completely hypothetical Duty of Care – higher degree of duty of care with those to whom we have a relationship

Chapter 9 – Contracts (k)
Express k – words, stating that we’re entering a k & what intentions are Implied k – actions, accept by doing A based on pattern of conduct Theories of Recovery
Quasi K
Prevents “unjust enrichment” of unfair
Plaintiff provides benefit to defendant
AND Defendant knowingly accepted benefit
AND “unfair” not to pay, for defendant
“Reasonable value”/market value
ex) painter & man make a k, painter paints wrong house and asks owner to pay, she refuses, he sues  quasi k Promissory Estoppel
Protects “reasonable reliance”
Promisor (defendant) made a promise
AND promisor should have expected promisee (plaintiff) would act in reliance AND promisee acted in reasonable reliance
AND promisee suffered detriment (if promise is broken)
“Reliance damages”
U.C.C. – contracts for sale of goods (tangible, personal property) Common Law – contracts for Real Estate or services

Chapter 10 – Mutual Assent
Offer  offeror intends to enter k, knows material terms (identify parties, subject matter, consideration, quantity), communication Advertisements are not offers EXCEPT highly specific
Duration/termination of offer
After expiration  can receive counter offer
Terms of offer, “reasonable time”
Revocation  offeror can revoke at anytime prior to acceptance, effective when received Except:
Option k – offeree pays offeror to keep offer open
Firm offer for sale of goods
Offer made by merchant
AND written/signed offer
AND states it will be held open
Irrevocable for time stated  max 3 months (if says it will be held open for 6 months, irrevocable for 3) Acceptance
Objective intent  does offeree intend to enter k
On terms of offer
Common Law = Mirror Image Rule  must mirror offer on every term, can add material additions, any change = counteroffer UCC...
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