LAW 3220: FINAL EXAM
53 Cards in this Set
| Front | Back |
|---|---|
|
2 Types of entities
|
1. Sole Proprietorship
2. partnership
|
|
most prominent forms of business
|
sole proprietorship
partnership
limited partnership
corporation
Limited Liability Company
|
|
2 types Partnerships
|
1. General partnership – each general partner takes part in the management of the business, as well as responsibility for liabilities.
2. Limited partnership- a limited partner only provides investment to other partner and is not liable
|
|
3 groups of people in corporation
|
1. Shareholders- own the corporation, evidence of ownership is in the number of shares issued to various parties.
2. Board of director- the governing committee of a corporation (chosen by incorporators at the first corporate meeting)
3. Managers- hired by the dire…
|
|
Limited liability companies (LLC)
|
- Personal assets are not subject to debt of company (what you want)
|
|
3 people who get limited liability (allows person to invest without placing personal wealth at risk)
|
1. Shareholders
2. Owners
3. members
|
|
Voluntary dissolution
|
action taken by shareholders, incorporators or initial directors to dissolve a corporation.
|
|
Involuntary dissolution
|
dissolution of a corporation by a court in response to a shareholder petition based on statutorily prescribed grounds
|
|
Franchising
|
grant a franchise for the sale of (goods) or the operation of (a service).
|
|
3 types of franchises
|
1. product distributorships, (car dealerships, have right to sell the product of the parent company)
2. trademark OR trade name licensing- franchisee has right to market companies brands ex: Coca-Cola
3. business format franchising- franchisee follows the business…
|
|
Difference between 3 point of relations
|
1. typical 2 party contract
a. between A & B contract with rights and duties and liabilities
2. Typical contract with Agency Relationship
a. Principal to Agent (authority to act)
b. Third Party to Agent (contract Formation)
c. Third Party t…
|
|
Agents
|
person authorized to act for or to represent another, called the principal
1. Universal agent- someone designated to do all the acts that can be legally granted.
2. General agent- a person authorized to execute all transactions connected with a certain business, such as m…
|
|
principal.
|
provides the agent with consent to act on his or her behalf and perform acts that will be binding on the principal.
|
|
4 Ways to create an agency
|
1. Agreement of the parties- principal and agent establish written or oral contract (power of attorney- legal document that establishes an agency)
2. Ratification of the agent’s activities by the principal- “acceptance of responsibility” person not an agent acts beyond au…
|
|
Types of authority
|
1. Actual authority “real authority” - Specific powers granted by a principal to an agent in oral or written agency contracts. Confers the power and the right to change the principal’s legal status on the agent.
2. Express authority- Actual, distinctly stated (oral or wri…
|
|
Disclosed principal
|
one whose identity is known by the third party at the time a contract is entered into with an agent on behalf of the principal.
|
|
Undisclosed principal
|
one whose identity is unknown by the third party. Has no knowledge that the agent is acting for the principal when a contract is made.
|
|
Employees VS independent contractors
|
1. Employer has greater control of employee rather than contractor
2. No control over independent contract so no tort liability on employer unlike employee
1. Employee (UPS package sorter)------ 2. Employee with agency powers (senior manager at company)-------3. A…
|
|
Negligent hiring
|
A legal claim made against an employer by a damaged employee who claims that the employer either knew about or should have known about a situation in the employee's past that indicates they may be violent or untrustworthy. A business can help avoid negligent hiring claims by performing a …
|
|
Exculpatory contract
|
1. Part of an agreement which relieves one party from liability. It is a provision in a contract which is intended to protect one party from being sued for their wrongdoing or negligence
|
|
Noncompete agreements
|
1. Employee can’t leave and go into competition against the employer or go to work for a competitor for certain time usually, 1-3 years.
|
|
Substance abuse policies
|
1. Employment law, work place rules adopted by an employer with respect to any required tests and the consequences of abuse of drugs, alcohol, or other substances; must comply with certain federal and state laws.
|
|
OSHA
|
1. Occupational Safety and Health Act
a. Created in 1970 by congress, states employers must abide by standards and provide employees a workplace “free from recognized hazards that are causing or are likely to cause death or serious physical harm
b. Inspections to …
|
|
Workers compensation
|
1. State statute that provide for awards to workers or their dependents if a worker incurs an injury or illness in course of employment
|
|
Family and medical leave act
|
1. Applies to private employers with 50+ employees and all governmental units. Employers must grant workers up to 12 weeks of unpaid leave per year after childbirth or adoption, to care for serious ill child, spouse, or parent, or for employees own serious illness.
|
|
Immigration laws
|
1. To be hired legally in the U.S. the following documents are used as proof of identity
a. U.S. passport
b. Permanent resident card (social security card)
c. Foreign passport with employment authorization
2. New employment procedure
a. Fil…
|
|
Federal minimum wage laws
|
1. In 1938 as part of the fair labor standards act law requires employers to pay a fair wage to employees and not so little to where they have trouble buying the necessities of life.
|
|
Erisa
|
1. Employee retirement income security Act- a federal law that sets standards of protection for individuals in most voluntarily established , private-sector retirement plans
|
|
Vesting
|
1. Under ERISA, requirement that pension benefits become the properly of workers after a specific number of years of service to an employer. 3 options
a. Have 100% vesting after 10 years of employment
b. Have 25% vesting after 5 years then 5% vesting a year for 5 …
|
|
Warn act
|
1. is a United States labor law which protects employees, their families, and communities by requiring most employers with 100 or more employees to provide 60 calendar-day advance notification of plant closings and mass layoffs of employees, as defined in the Act.
|
|
Wagner act
|
1. 1935, ensure workers the right to “self org to form or join or assist labor orgs to bargain collectively through reps of their own choosing, and to engage in other concerted activities for the purpose of collective bargaining or other mutual aid or protection.
|
|
Labor relations board
|
1. Is an independent agency of the United States government charged with conducting elections for labor union representation and with investigating and remedying unfair labor practices.
|
|
National labor relations act made up of 3 acts
|
1. Wagner act of 1935
2. Taft-Hartley act of 1947- is a United States federal law that restricts the activities and power of labor unions (more balanced approach)
3. Landrum-griffin Act of 1959- a United States labor law that regulates labor unions' internal affai…
|
|
Union election
|
1. Union organizer collects authorization cards signed by 30% or more of the employees asking for election (secret to employer) whether the union should represent them the organizer turns the cards over to the NLRB and requests representation election.
NLRB agents supervise the …
|
|
Collective bargaining agreement
|
1. agreement in writing or writings between an employer and a union setting forth the terms and conditions of employment or containing provisions in regard to rates of pay, hours of work or other working conditions of employees.
|
|
Union dues
|
1. Are a regular payment of money made by members of unions. Dues are the cost of membership
|
|
Primary boycott
|
1. A strike by a union against an employer whose collective bargaining agreement is in question. Law restricts Secondary Boycotts which occur when a union uses economic pressure to try to force others to stop doing business with an employer not directly or involved in a primary labor…
|
|
Discrimination
|
the unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or sex.
|
|
Reverse Discrimination
|
the practice or policy of favoring individuals belonging to groups known to have been discriminated against previously.
|
|
Equal pay act
|
of 1963 is a United States federal law amending the Fair Labor Standards Act, aimed at abolishing wage disparity based on sex. It was signed into law on June 10, 1963, by John F. Kennedy as part of his New Frontier Program.
|
|
Title 7
|
of the Civil Rights Act of 1964 is a federal law that prohibits employers from discriminating against employees on the basis of sex, race, color, national origin, and religion
1. Equal employment opportunity act of 1972
2. Pregnancy discrimination act of 1978
3. …
|
|
Sexual harassment
|
unwelcomed sexual advances, requests for sexual favors, and or other verbal or physical conduct of a sexual nature in terms of employment, employment decisions affecting individual, employments work performance, creating hostile or offensive working environment
1. Quid pro quo- “…
|
|
Age discrimination
|
1967, ADEA, prohibits discrimination in employment against persons on the basis of age for persons over age 40. Employers with 20+ employees must comply
1. Forcing early retirement
2. Requiring older workers to pass physical exams a condition to continue work
3. In…
|
|
Current case law
|
the law as established by the outcome of former cases
|
|
How to bring charge of discrimination
|
1. 180 days to file but some state laws extend to 300 days
2. Mail or person at EEOC office or similar state agency
3. Right to sue letter- document issued by a federal or state employment discrimination agency after investigation of complaint, stating that the pl…
|
|
Business defenses against discrimination charge
|
1. Effective secure internal procedure to handle complaints about discrimination, that employees feel is trustworthy
2. Effective company policy ex: no romance between employees
3. Person or knowledgeable staff to hear complaints
4. Around the chain of com…
|
|
Statutory defenses
|
1. Business necessity- is an employer's defense of an employment related decision that is based on the requirements of the business and is consistent with other such decisions.
2. Professionally developed ability test- possess necessary skills and attributes to predict th…
|
|
Voluntary early retirement
|
employer cannot force employee to retire early but if early retirement incentive plan (ERIP) benefits are generous an employee can choose to retire. Employers may ask if employee decides to retire a “knowing and voluntary waiver”
|
|
Remedies in discrimination
|
1. back pay- payment for work done in the past that was withheld at the time, or for work that could have been done had the worker not been prevented from doing so
2. front pay- a sum of money to compensate for longer term damage to a career for not having gained the expe…
|
|
Affirmative action
|
a deliberate action or policy favoring those who tend to suffer from discrimination, especially in relation to employment or education; positive discrimination
|
|
Voluntary action program
|
employer starts program to ensure that the company provides more opportunities for women or minorities in certain job categories
|
|
Involuntary action program
|
- employer starts program to ensure that the company provides more opportunities for women or minorities in certain job categories
|
|
Disability discrimination
|
when a person with adisability is treated less favourably than a person without the disability in the same or similar circumstances. Rehabilitation act of 1973 provides protection for disabled persons seeking employment or currently employed.
|
LAW 3220: EXAM 4