BUSN 102 Study Guide - Quiz Guide: Federal Trade Commission Act Of 1914, Clayton Antitrust Act, Sherman Antitrust Act
16 Feb 2018
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Statutory law includes state and federal constitutions, legislative enactments, treaties of the federal government, and ordinances in short, written law. Negligence, in tort law, is behavior that causes unintentional harm or injury. A patent is a document that gives inventors exclusive rights to their inventions for 20 years from the date they file the patent applications. Article 3 covers negotiable instruments such as checks. If the government wishes to change citizens" behavior, it can reduce their use of certain classes of products (cigarettes, liquor) by passing sin taxes to raise their cost. Chapter 7 calls for straight bankruptcy, in which all assets are divided among creditors after exemptions. Chapter 11 allows a firm to reorganize and continue operation after paying only a limited portion of its debts. Perhaps the most publicized examples of deregulation have been those in the airline and telecommunications industries.
