Notes, abstracts, papers, exams and problems of Law & Jurisprudence

Chapter 1 Review: Understanding Risk

Key Risk Management Terms

Types of Risk

• Systemic Financial Risk: Risk that affects the entire economy or system, not just individuals.
• Risk: Uncertainty about a future outcome, particularly a negative one.
• Pure Risk: Risk with the possibility of loss but no chance of gain.
• Speculative Risk: Risk with the possibility of both gain and loss.
• Fundamental Risk: Risks that are pervasive to the whole economy, also known as "systemic" risk.
• Diversifiable Risks: Risks that can be mitigated by having a broad mix of risk exposures.

Risk Attitudes

• Risk Averse (Avoider): Prefers to avoid risks and seeks security.
• Risk Seeker (Taker): Enjoys taking risks.
• Risk Neutral: Preference lies between risk averse and risk seeker.

Risk Management

BBRG's Mission Statement

"We strive to be the best Italian restaurant company in America, and we want our people to know they work with the best. We will develop loyal, lifelong guests by delivering the highest quality food and service to each guest at each meal, each and every day."

Service Commitment

At BBRG, we provide flawless service of our world-class product. We seek to employ team members who share in that hospitality commitment and possess a desire to serve. If we should miss the mark, recovery is a must, as exceptional service breeds exceptional loyalty from our highly satisfied guests.

Menu Highlight

Grilled Mahi - Lightly breaded mahi on a bed of farro, spinach, tomato, and basil vinaigrette.

Essential Steps for Buying a Used Car

Follow... Continue reading "BBRG: Italian Dining Excellence & Used Car Buying Tips" »

Legal Terms Glossary

A

Adjournment

A pause or rest during a formal meeting or trial, or the act of giving a pause or rest.

Adjudication

A legal ruling or judgment that is typically final.

Adversarial System

A system by which the accused and the accuser present their arguments in court to be decided by a third party.

Affidavit

A type of verified statement or showing.

Appeals

The process of applying to a higher court for the reversal of the decision of a lower court.

Aquittal

To free someone from a criminal charge by a verdict of not guilty.

Arraignment

The scheduled appearance where the accused either pleads guilty or not guilty.

C

Claimant

Complainant.

Conditional Sentence

Jail in the community; the offender serves the sentence outside of jail.

Cross-Examination

The... Continue reading "Legal Terms Glossary: From Adversarial System to Transcript" »

Organizing Transportation

Unit Load Device

Pallet or container used to load luggage, freight, and mail on wide-body aircraft and specific narrow-body aircraft.

Full Container Load

Standard container that is loaded and unloaded under the risk and account of the shipper or consignee.

Container Yard

Port facility at which containers are accepted for loading onboard ships, and off-loaded containers are delivered to the consignees.

Less Container Load

Shipping term for cargo that is insufficient either in quantity or weight to qualify for the freight rates applied to a standard shipping container.

Customs Policy

Customs is an authority or agency in a country responsible for collecting tariffs and for controlling the flow of goods into and out of a country.... Continue reading "International Shipping Glossary: Understanding Key Terms & Processes" »

26.The Supreme Court case Miranda v. Arizona (1966)

Criminal suspects must be informed of their Right to consult with an attorney and of their right against self-incrimination Prior to questioning by the police.

27.The Supreme Court in the case United States v. Richard Nixon (1974) ruled that Nixon must

Give up evidence but he refused

28.As president, Jimmy Carter called for a foreign Policy that stressed the importance of

Human Rights

What Have scientists discovered about the DNA structure?

It is unique and it can be used to solve issues.

30.In 1992, severe rioting In Los Angeles began in response to the

Verdict in the trial of the police in the Rodney king beating

31.In 1979, the United States responded to the Soviet Union’s invasion of Afghanistan... Continue reading "A History of American Politics and Law from 1965 to 2002" »

DC (separate from contract):

Arrangement in which a bank (issuing), acting for and on behalf of the customer (buyer), pays the beneficiary (seller) a sum of money (or accepts a BE), or authorizes another bank (advising bank, confirming bank) to do so on presentation by the beneficiary of specified documents and on condition that all other credit terms are met.

BE: Unconditional order requiring payment at a fixed future time of a certain sum of money to the bearer of the draft or to the order of a specified person; endorsement.

PN: Unconditional promise to pay at a fixed future time a certain sum of money to the bearer of the note or to the order of a specified person (abstract-independence of the contract, formal requirement).

Lecture 5: The Legal Framework

Devolution Settlements

• Scotland – Early devolution of legislative, executive, and judicial power. Note the separate Scottish legal system.
• Wales – Staggered process of devolution of mainly legislative and executive powers. Incremental growth from subordinate to primary legislative power.
• Northern Ireland – Different settlement which includes mainly legislative and executive powers within a collaborative framework.
• However, core authority for all power (legislative, executive, and judicial) remains in the hands of Parliament at Westminster.
• Understanding the separation of powers is now incredibly complex.

Judiciary

• Superior Courts
  • Supreme Court
  • Court of Appeal
  • High Court
  • Crown Courts
• Inferior Courts
  • Magistrates Courts
  • County

Chapter 10 Test Questions

True or False

1. A written contract is necessary to create a valid agency relationship. FALSE
2. An agency relationship is a fiduciary relationship. TRUE
3. A Standard Representation Agreement for a professional sport league would be considered an apparent agency agreement. FALSE
4. Ratification occurs when an agent did not in fact have authority to act of behalf of the principal, but the principal accepts responsibility for the agent’s acts. FALSE
5. Most athlete agent acts such as the UAAA regulate dealings only between athlete agents and student athletes. TRUE
6. One of the most consistent limitations imposed on athlete agents by the players associations is the registration and certification process for representing professional athletes.

1.Price regulation - Avoid excessive pricing on the consumer -Cost recovery and investment recoupment over a period -Foster forthcoming investments. Several options – Cost à calculate AC and grant a markup upon them (May dillute incentives to efficiency gaining and cutting costs) – Cap pricing à absolute pricing level acting as threshold (May dillute to furthering investments + Sufficient fixed time)

2.Non discriminatory Access (Aimed at enabling non-network carriers access network in fair, transparent and non-discriminatory terms)

3.Corporate unbundling : Guaranteeing healthy functioning of competitive markets by curbing the exercise of competitive adv of integrated players (By isolating the diff “branches” with imp market power +