Accounting 215 Revision Exam
Questions 100% Well Answered.
Rescission - Answer To undo a contract
Remedy - Answer Relief given an innocent party
Plaintiff - Answer One who initiates lawsuits
In Rem - Answer Jurisdiction involving title of property
Max Profit - Answer Most profit a company can make that is legally possible
Optimal Profit - Answer Most money a company can make that is ethically possible
Jurisprudence - Answer The science or philosophy of law
Staredecisis - Answer Common law doctrine that states a court must follow precedent
Regulations - Answer Laws passed by government agencies
Procedural Law - Answer Establishes the methods for enforcing or restricting rights under substantive
law
Coase Theorm - Answer Theory that parties bargain for the outcome they want
Case of 1st impression - Answer When there is no precedent on a case and a court must make the 1st
ruling
, Long Arm - Answer Statute that allows a plaintiff to sue defendant in a state where they have
sufficient/minimum contacts
Rossian - Answer Ethical beliefs that actions are driven by objectives and beliefs
Specific Performance - Answer To do the thing
Injunction - Answer Court order to refrain
Common Law - Answer Deals with judges when there's not a specific law
Substantive (Common Law) - Answer All the rights a citizen has
Procedial (Common Law) - Answer All the restrictions on rights a citizen has
Concurrent Jurisdiction - Answer Two or more courts have jurisdiction
Federal Jurisdiction - Answer Cases involving US constitution, acts of congress, and Treaties. Have to be
GREATER than $75,000
Venue - Answer Geographical district in which an action is tried and Jury selected
Rule of 4 - Answer 4 Justices of Supreme Court must approve grant of cert
Fees (Lawyer) - Answer Either Fixed, Hourly, or Contingency
Litigation - Answer The process of resolving a case through the court system
Pleadings - Answer Statements made by plaintiff and defendant alleging the facts, charges, and
defenses
Questions 100% Well Answered.
Rescission - Answer To undo a contract
Remedy - Answer Relief given an innocent party
Plaintiff - Answer One who initiates lawsuits
In Rem - Answer Jurisdiction involving title of property
Max Profit - Answer Most profit a company can make that is legally possible
Optimal Profit - Answer Most money a company can make that is ethically possible
Jurisprudence - Answer The science or philosophy of law
Staredecisis - Answer Common law doctrine that states a court must follow precedent
Regulations - Answer Laws passed by government agencies
Procedural Law - Answer Establishes the methods for enforcing or restricting rights under substantive
law
Coase Theorm - Answer Theory that parties bargain for the outcome they want
Case of 1st impression - Answer When there is no precedent on a case and a court must make the 1st
ruling
, Long Arm - Answer Statute that allows a plaintiff to sue defendant in a state where they have
sufficient/minimum contacts
Rossian - Answer Ethical beliefs that actions are driven by objectives and beliefs
Specific Performance - Answer To do the thing
Injunction - Answer Court order to refrain
Common Law - Answer Deals with judges when there's not a specific law
Substantive (Common Law) - Answer All the rights a citizen has
Procedial (Common Law) - Answer All the restrictions on rights a citizen has
Concurrent Jurisdiction - Answer Two or more courts have jurisdiction
Federal Jurisdiction - Answer Cases involving US constitution, acts of congress, and Treaties. Have to be
GREATER than $75,000
Venue - Answer Geographical district in which an action is tried and Jury selected
Rule of 4 - Answer 4 Justices of Supreme Court must approve grant of cert
Fees (Lawyer) - Answer Either Fixed, Hourly, or Contingency
Litigation - Answer The process of resolving a case through the court system
Pleadings - Answer Statements made by plaintiff and defendant alleging the facts, charges, and
defenses
