BMGT 380 Business Law Exam 1 Answered
Rated A+ UMD
Precedents - ANSWER-Where courts find the appropriate legal rule in cases
governed by common law.
Stare Decisis - ANSWER-the present case should be decided in the same way as
past cases presenting the same facts and the same legal issues.
Economic damages - ANSWER-compensation for objectively verifiable monetary
losses.
Non-economic damages - ANSWER-compensation for subjective, non-monetary
losses such as pain and suffering.
Punitive damages - ANSWER-awarded for the purpose of punishment.
Jurisdiction - ANSWER-the court's power to hear a case and to issue a decision
binding on the parties.
Subject-Matter Jurisdiction - ANSWER-a court's power to decide the type of dispute
involved in the case.
In-Personam Jurisdiction - ANSWER-jurisdiction over Ds who are citizens or
residents of the state (even if situated out-of-state), who are within the state's
borders when process is served on them (even if nonresidents), or who consent to
the court's authority (ex. By entering the state to defend against the Ps claim).
In Rem Jurisdiction - ANSWER-based on the presence of property within the state;
empowers the state courts to determine rights in that property even if the persons
whose rights are affected are outside the state's IPJ.
Diversity Jurisdiction - ANSWER-exists when (1) the case is between citizens of
different states, and (2) the amount in controversy exceeds $75k.
Federal Question Jurisdiction - ANSWER-exists when the case arises under the
Constitution, laws, or treaties of the US.
Concurrent Jurisdiction - ANSWER-both state and federal courts have jurisdiction
over the case.
Demurrer (Failure to state a claim) - ANSWER-asserts that the P cannot recover
even if all of his allegations are true b/c no rule of law entitles him to win on those
facts.
Rated A+ UMD
Precedents - ANSWER-Where courts find the appropriate legal rule in cases
governed by common law.
Stare Decisis - ANSWER-the present case should be decided in the same way as
past cases presenting the same facts and the same legal issues.
Economic damages - ANSWER-compensation for objectively verifiable monetary
losses.
Non-economic damages - ANSWER-compensation for subjective, non-monetary
losses such as pain and suffering.
Punitive damages - ANSWER-awarded for the purpose of punishment.
Jurisdiction - ANSWER-the court's power to hear a case and to issue a decision
binding on the parties.
Subject-Matter Jurisdiction - ANSWER-a court's power to decide the type of dispute
involved in the case.
In-Personam Jurisdiction - ANSWER-jurisdiction over Ds who are citizens or
residents of the state (even if situated out-of-state), who are within the state's
borders when process is served on them (even if nonresidents), or who consent to
the court's authority (ex. By entering the state to defend against the Ps claim).
In Rem Jurisdiction - ANSWER-based on the presence of property within the state;
empowers the state courts to determine rights in that property even if the persons
whose rights are affected are outside the state's IPJ.
Diversity Jurisdiction - ANSWER-exists when (1) the case is between citizens of
different states, and (2) the amount in controversy exceeds $75k.
Federal Question Jurisdiction - ANSWER-exists when the case arises under the
Constitution, laws, or treaties of the US.
Concurrent Jurisdiction - ANSWER-both state and federal courts have jurisdiction
over the case.
Demurrer (Failure to state a claim) - ANSWER-asserts that the P cannot recover
even if all of his allegations are true b/c no rule of law entitles him to win on those
facts.
