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MIE 305 NCSU NC STATE BUSINESS LAW QUESTIONS WITH 100% CORRECT ANSWERS

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MIE 305 NCSU NC STATE BUSINESS LAW QUESTIONS WITH 100% CORRECT ANSWERS

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Long Arm Statute


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minimal contacts
significant (activity)
-these are magic words you should see for long-arm statute




Venue


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, geographic district in which a legal action is tried & from which the jury is
selected
-in civil case: where defendant resides
-in criminal case: where crime occurred




Vago's purposes and functions of law


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1. maintain order, social control
2. dispute resolution
3. social change function




General Partnerships


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-agreement may be oral
-new partners need approval from all existing partners




Domestic Corporation


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incorporated in the state (HQ has nothing to do with this)

,Marbury v Madison


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judicial review and supremecy of the constitution court case




Subsidiary


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not an alien corporation ex: Sony (Tokyo) creates Sony America (NY corp),
domestic corp to NY, foreign corp to NC, CA, TX




Mediation


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third party mediator assists in trying to resolve dispute, mediator is more of
a mutual coach, NOT referee




Administrative Law


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, concerned with the multitude of administrative agencies, such as the
Federal Trade Commission and their rulemaking and rule-enforcement
powers within government




Diversity Jurisdiction


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Applies when (1) ALL of the plaintiffs are from different states than the
defendants (2) the amount in dispute exceeds $75,000




Difference between jurisdiction and venue


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Jurisdiction - means the power to hear a case
Venue - Which court that has jurisdiction should the case be held?




The three levels of proof


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