Corporate Law Review

Define: Judgment.

• The official decision of a court finally resolving the dispute between the parties to the lawsuit.

• A casual opinion or guess about a situation.

• An informal agreement between friends.

• A temporary decision made by a jury.

Define: Damages.

• A sum of money claimed or awarded in compensation for a loss or an injury.

• A type of insurance policy.

• A legal term for a contract breach.

• A method of calculating interest rates.

Define: Liable.

• Responsible by law; legally answerable.

• Not responsible; free from obligation.

• Unrelated to legal matters.

• Exempt from any legal duty.

Define: Remedy.

• A means of legal reparation.

• A type of herbal medicine.

• A method of cooking.

• A style of painting.

Define: Settlement.

• An official agreement intended to resolve a dispute or conflict.

• A temporary place to live.

• A financial transaction.

• A type of legal document.

Define: Common Law.

• The part of English law that is derived from custom and judicial precedent rather than statutes.

• A legal system based on religious laws.

• A set of laws created by the legislative branch of government.

• A legal framework used exclusively in the United States.

Define: Statutes.

• A written law passed by a legislative body.

• A type of court ruling.

• An executive order issued by the president.

• A legal principle established by precedent.

Intentional wrong is defined as:

• A mistake made on purpose

• An accidental error

• A misunderstanding

• A typographical error

Negligence is defined as:

• A failure to exercise appropriate and or ethical ruled care expected to be exercised amongst specified circumstances.

• A deliberate act to cause harm.

• An intentional breach of duty.

• A criminal act.

Strict Liability is a legal doctrine that holds a party responsible for their actions or products without the plaintiff having to prove negligence or fault.

• True

• False