2 Ethics, Fair Housing, Trust Funds, And Other Legal Issues Flashcards
Americans with Disabilities Act.
-Federal law prohibiting discrimination that would deny the equal enjoyment of goods, services, facilities, and accommodations in any existing place of public accommodation, based on an individual’s physical or mental disabilities.
Blockbusting
The practice on the part of unscrupulous speculators or real estate agents of inducing panic selling of homes at prices below market value, especially by exploiting the prejudices of property owners in neighborhoods in which the racial makeup is changing or appears to be on the verge of changing.
Civil rights act of 1866
- The first U.S. civil rights act
- Prohibits racial discrimination
Civil rights act of 1968
Known as the fair housing act
Dred Scott decision
Ordered the federal government to keep out of the slavery issue because it was a matter for the states to decide.
Steering
The act of directing people of different races, religions, etc away from or towards particular areas
Redlining
Refusal to loan in designated areas
Jones vs. Mayer
Involved a seller who refused to sell a home to an African American
Civil rights Act of 1968
Prohibited discrimination in housing based on national origin, race, religion, and color.(Sexual discrimination was added in 1974)
Unruh Act
prohibits discrimination in all business establishments.
Rumford Act
- aka Fair Employment and housing act
- prohibits discrimination in supplying housing accommodations on the basis of sex, color, race, religion, source of income, etc.
Holden Act
- Housing financial discrimination act of 1977
- prohibits financial institutions from engaging in discriminatory loan activities or practices
Sherman Antitrust Act
A federal act to protect consumers from businesses that conspired to control prices and/or competition.
Price-fixing
Broker’s cannot agree on minimum fees to be charged
Market allocation
It’s illegal to divide a marketplace geographically or by type of service because it reduces competition.
