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MIE 305 EXAM 3 QUESTIONS WITH 100% CORRECT ANSWERS

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MIE 305 EXAM 3 QUESTIONS WITH 100% CORRECT ANSWERS

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Easement


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A right that one person has to some profit, benefit, or use in or over the
land of another is created by a deed or acquired by prescription or by
implication.




Past Considerations


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A promise made for actions that already took place.

,Damage Awards


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Whether the infringement was willful or deliberate, whether the infringer
had a good faith belief that the patent was invalid, and the party's conduct
during litigation should all me taken into account.




Actual Abandonment


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When the owner both discontinues using the trademark and projects an
intent to no longer use it, intent and action are required.




Leahy-Smith America Invents Act (AIA)


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Makes patent law more relevant to the modern business world and
positions the US laws so that they are more aligned with provisions existing
in other developed countries, implemented the "first to file rule" as
opposed to first to invent.




Restraint of Trade


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, Contracts that impede free competition.




Bundle of Rights


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Dominion and control over something with the right to exclude others.




Distress for Rent


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The taking of personal property of a tenant in payment of rent.




Alienation/Disposition


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The right to dispose of any or all of the rights one holds in property
through sale, gift, or lease.




Implied-in-Law/Quasi Contracts


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, A term used to describe a factual situation involving a duty that does not
arise out of an actual contract and is associated with a remedy designed to
promote justice and fairness.




Implied-in-Fact Contracts


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A legally enforceable agreement inferred from the circumstances and
conduct of the parties, one party expects to be paid and the other expects
to pay.




Bilateral Mistake


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All parties must have the same mistake, either party may rescind.




Discharge by Failure of a Condition


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If performance is conditional, duty to perform does not become absolute
until the condition occurs.




Waiver of Defense

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