Foundations of Business Law
FHNW BSc Business Administration / International Management (2nd Semester)
FHNW BSc Business Administration / International Management (2nd Semester)
Kartei Details
| Karten | 97 |
|---|---|
| Sprache | English |
| Kategorie | Recht |
| Stufe | Universität |
| Erstellt / Aktualisiert | 02.06.2025 / 11.06.2025 |
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What is the basic difference between fault-based and strict liability? Answer in complete sentences.
In a case of strict liability, the injured party needs no proof for a fault on the side of the wrongdoer. The injured party needs to prove: damage, unlawful act, causation.
Recklessness is a form of negligence.
There are two forms of fault: intention and negligence. Recklessness is a special form of intention: the wrongdoer does not want to cause the harm, but knows the risk - and takes it.
The tortfeasor acts with negligence, if it was neither planned nor willfully. If the tortfeasor performs the act willfully, we talk about intention.
In fault-based liability, the injured party must prove the damage done, the unlawful act, the causation, and the fault of the tortfeasor.
The vicarious liability of the employer is a form of strict liability.
A Documentary Collection puts the seller in a better position than a Letter of Credit.
A Documentary Collection can be beneficial to manage the cash flow, but unlike a Letter of Credit, the seller is not given a credit. The bank is merely collecting the payment on behalf of the seller.
Leasing is a form of real security.
Leasing is a form of quasi-security. Examples for real security are mortgage or pledge of movables.
An open account transaction is a sales transaction where the goods are shipped and delivered before the payment is due.
In a documentary collection, the seller...
The bank having issued a bank guarantee must pay the seller even if the buyer proves that the goods delivered are defective.
A guarantee is independent from the underlying transaction, e.g. the sales contract.
In international business, the security instrument of a surety is more often used than a guarantee.
A watchmaker repairs a watch. If the customer does not pay the repairs, can the watchmaker sell the watch (Swiss Law)?
The watchmaker can trigger the foreclosure procedure, but not independently sell the lien.
The pledge is very practical for long-term security as the owner may remain in possession of the goods pledged.
A pledge requires transfer of possession to the creditor, otherwise the pledge is not validly established.
A factor buys the accounts receivable from a company, and sometimes takes over services such as bookkeeping or invoicing. The credit risk always remains with the seller of the accounts receivable.
The credit risk passed to the factor. The factor pays a price that consists of the value of the claims and a discount for commission, interest rate and risk.
GMAC, a General Motors company, has gone bankrupt. It had provided financial leasing arrangements to the buyers of General Motors cars and had always paid in full to General Motors the sales prices of the cars. The leased cars...
The Civil Law System is the dominant Law System in continental Europe.
Genetic engineering legislation contains also ethical aspects.
Marriage laws prohibiting polygamy (= marriage to more than one person) contain no ethical aspects.
In Common Law, Judicial Opinion by the Supreme Court always overrules Written Law.
Sara and Holger are granted a construction permit for their detached house.
Which area of law is it?
The year after Sara and Holger's wedding, the tax authorities issue a joint tax ruling for Sara and Holger.
Which area of law is it?
The city's tax authorities commission a local cleaning company to clean their offices on a weekly basis.
Which area of law is it?
Sara and Holger get married shortly after moving into their new house.
Which area of law is it?
Kevin is the new owner of a restaurant. He applies for an operating license with the cantonal Office for Labour and Economic Affairs.
Which area of law is it?
Two main elements of legal rules compared to any other rules in society are that legal rules are enforceable by state authorities, and that everyone violating legal rules faces societal sanctions.
The Doctrine of Stare Decisis is a central element of the Common Law system.
Legal precedents are the main legal sources in Civil Law systems.
Tax Law is Private Law as far as natural persons are concerned.
Civil Law and Common Law Systems use the same sources of law, but place different emphasis on their use.
In a general partnership according to Swiss law, the partners have joint and several liability.
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