Business Law at Hochschule Rhein-Waal | Flashcards & Summaries

Lernmaterialien für Business Law an der Hochschule Rhein-Waal

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What do parties do when they are in full agreement of a (...) main contents?
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They sign / enter into / conclude a contract. Then that contract becomes binding.
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What is a corporation?
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A separate legal entity = legal person.
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What is a license agreement?
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It is given by the owner of TM that allows 3rd parties to use the TM for products/services belonging to the relevant classes on the basis of the agreement.
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TESTE DEIN WISSEN
Give an example for a CCO (contract for continuing obligations)!
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A lease agreement, or mid-term supply agreement for repeated deliveries.
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What are types of solutions of legal disputes?
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1. One party backs down. 2. Negotiations resulting in a settlement. 3. Lawsuit resulting in a judgement. (or settlement)
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What can be done if all parties to the contract are in full agreement to change it?
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The parties may change / alter / modify a signed contract or even undo / annul / reverse it. This is an amendment and an annulment.
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What is different about a CCO?
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It may be terminated by each party with no cause, by giving notice to the other party (=complying with a notice period, e.g. 2 weeks or 6 months), if such termination right has not been excluded in the contract and if the other reqs for such termination are satisfied in the individual case.
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How are major businesses organized?
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As corporate groups. The parent company controls one or several direct or indirect subsidiaries through direct or indirect majority ownership.
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Under what conditions can a party unilaterally withdraw from a signed contract?
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TESTE DEIN WISSEN
If that party made an erroneous assumption (about the sales object), was deceived by the other party, if it faces a breach of the contract by the other party, if it is a consumer in certain b2c contracts or if the reqs for such a withdrawal are satisfied in the individual case.
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What is the principle of freedom of contract?
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It is the freedom of parties to decide whether or not to conclude a contract and the contents of the contract.
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When canceling a contract, what is the basic rule?
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TESTE DEIN WISSEN
No unilateral withdrawal from / rescission of / cancellation of signed contract.
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Under a contract (sales contract), what claims / obligations of the parties can arise?
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TESTE DEIN WISSEN
The seller must transfer possession and ownership in sold object(s) to buyer. Buyer must pay the purchase price to seller. All as agreed in the contract / as required under the civil law of the applicable jurisdiction.
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Q:
What do parties do when they are in full agreement of a (...) main contents?
A:
They sign / enter into / conclude a contract. Then that contract becomes binding.
Q:
What is a corporation?
A:
A separate legal entity = legal person.
Q:
What is a license agreement?
A:
It is given by the owner of TM that allows 3rd parties to use the TM for products/services belonging to the relevant classes on the basis of the agreement.
Q:
Give an example for a CCO (contract for continuing obligations)!
A:
A lease agreement, or mid-term supply agreement for repeated deliveries.
Q:
What are types of solutions of legal disputes?
A:
1. One party backs down. 2. Negotiations resulting in a settlement. 3. Lawsuit resulting in a judgement. (or settlement)
Mehr Karteikarten anzeigen
Q:
What can be done if all parties to the contract are in full agreement to change it?
A:
The parties may change / alter / modify a signed contract or even undo / annul / reverse it. This is an amendment and an annulment.
Q:
What is different about a CCO?
A:
It may be terminated by each party with no cause, by giving notice to the other party (=complying with a notice period, e.g. 2 weeks or 6 months), if such termination right has not been excluded in the contract and if the other reqs for such termination are satisfied in the individual case.
Q:
How are major businesses organized?
A:
As corporate groups. The parent company controls one or several direct or indirect subsidiaries through direct or indirect majority ownership.
Q:
Under what conditions can a party unilaterally withdraw from a signed contract?
A:
If that party made an erroneous assumption (about the sales object), was deceived by the other party, if it faces a breach of the contract by the other party, if it is a consumer in certain b2c contracts or if the reqs for such a withdrawal are satisfied in the individual case.
Q:
What is the principle of freedom of contract?
A:
It is the freedom of parties to decide whether or not to conclude a contract and the contents of the contract.
Q:
When canceling a contract, what is the basic rule?
A:
No unilateral withdrawal from / rescission of / cancellation of signed contract.
Q:
Under a contract (sales contract), what claims / obligations of the parties can arise?
A:
The seller must transfer possession and ownership in sold object(s) to buyer. Buyer must pay the purchase price to seller. All as agreed in the contract / as required under the civil law of the applicable jurisdiction.
Business Law

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