Match the following words with their definition by placing the designated number

Question

Match the following words with their definition by placing the designated number of the definition in the space next to the word. Actus Reus Mens Rea Srict Liability- Negligence Per Se 1. A guilty (prohibited) act. 2. The wrongful mental state ("guilty mind"), or intent. 3. Liability regardless of fault, which is imposed on those engaged in abnormally dangerous activities, on persons who keep dangerous animals and on manufactures on sellers that introduce into commerce defective and unreasonably dangerous goods. 4. An action or failure to act in violation of a statutory requirement. Short Answe How does the mediation process differ from arbitration? (10 pts.) You have received a contract with an arbitration clause that reads as follows: "The parties agree to submit any dispute to arbitration for resolution"

Explanation / Answer

1. Match the following:

ActusReus- The mental state / intent is not positive, it has a criminal / violent nature. ( matches with 2)

Mens Rea- It refers to the intention of performing a guilty/ prohibited act. ( matches with 1)

Strict Liability ( matches with 3)- it refers to the fact the the liability applicable irrespective of the negligence/ ignorance/ intent. If the crime occures it has to be paid off and there weill be penalty.

Negligence per se( matches with 4)- Failure to meet the requirements due to ignorance.

2. Short Answer:

The mediation process involves a neutral third party that listens to the evidence in a formal setup and the final decision happens as per the agreement of both the parties. A nuetral third paty is involved in the mediation process, and a negotiation is done between the two parties in conflict.

While the arbritration process follows the formanl court like procedure with evidence being produced and the environment is very similar to a trial.The arbitrator does not focus on beinging about the concensus, they go by the evidence produced and follow the trial and tribunal method to arrive at the conclusion even though the two parties may not be in complete agreement of the decision. There is little to no negotiation that goes on between the two parties.

3. The additional terms should specify the arbitration party will be settling the dispute; the nature of the clause needs to be specified ( binding or non- binding)- the arbitration party's decision will be binding and the timeline to cobtrol the cost can also be spacified in the clause.

4. False. The business ethics obligations encompass behavioral aspects beyond the business laws.

True: The ethical conduct and behaviour encompass the ethical compliance and obligation.

True: The responsibility is towards all the external and the internal stakeholders.

True: The customer perception gets influenced if the firm does not stand strong on the ethical grounds, hence may impact the market performance.

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.