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MORT 234 Ethics And Laws I > 25 - 28 Agency & Employment > Flashcards

25 - 28 Agency & Employment Flashcards

1
Q
  • a party who appoints a second party to serve as an agent
  • a person who appoints another to contract with third parties, who is primarily liable to the third party or creditor
A

Principal

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2
Q
  • the person appointed to contract on behalf of another
  • the party appointed by the principal to enter into a contract with a third party on behalf of the principal
A

Agent

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3
Q

Agent authorized by the principal to executable / transact specific act(s)

A

Special agent

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4
Q

Contract under which one party is authorized to contract for another

A

Agency

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5
Q

Agency arising when person leads another to believe third party is the first person’s agent

A

Agency by estoppel

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6
Q

A language of business employed to communicate financial information based upon analyzing, recording, classification, summarization, reporting, and interpretation of financial data

A

Accounting

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7
Q

The omission, annulment, or cancellation of an instrument, act, license, or promise by one doing or making the offer

A

Revocation

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8
Q

One who contract to perform jobs / certain tasks for a set fee, who is independent of the control of the contracting party as to a means by which the contract is executed, but is controlled only by the specifications established in the contract

A

Independent contractor

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9
Q

The authority an agent is believed by third parties to have because of the BEHAVIOR of the principal

A

Apparent authority

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10
Q

Agent who is authorized to execute the principal’s business of a particular kind, or all the principal’s business at a particular place, if not all of one kind

A

General agent

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11
Q

Bailee seeking to sell property on commission

A

Factor (commission merchant)

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12
Q

Factor who sells on credit and guarantees price will be paid

A

Factor del credere

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13
Q

Agent with job of bringing two contracting parties together

A

Broker

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14
Q

General agent appointed by a written authorization

A

Attorney in fact

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15
Q

The power to act for someone else

A

Authority

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16
Q

The authority of an agent, STATED in the document or agreement creating the agency

A

Express authority

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17
Q

An agent’s authority to do things not specifically authorized in order to carry out express authority

A

Implied authority

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18
Q

Authority an agent possesses by custom

A

Customary authority

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19
Q
  • a principal’s instrument in WRITING APPOINTING / authorizing one person to act as agent for the principal
  • revoked on death of principal by operation of law
  • can be general (full) or special (limited)
A

Power of attorney

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20
Q
  • exists when a person executes a POA which will become or remain effective in the event he or she later become disabled
  • written appointment of agency that survives incapacity of principal
A

Durable power of attorney

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21
Q

Agency in which agent has FINANCIAL STAKE in performance of agency because of having given consideration to principal

A

Agency coupled with an interest

22
Q

Unilateral act of holder giving up rights in the instrument or against a party to it

A

Renunciation

23
Q

The party who employs employees to do certain work

A

Employer

24
Q

A federal act which requires most employers and employees to pay taxes to support the federal social security program

A

Federal Insurance Contributions Act
FICA

25
Q

Federal legislation requiring employers to check job applicants’ papers to be sure they are either US citizens or aliens authorized to work in the US

A

Immigrant Reform Act

26
Q

A governmental agency with the responsibility for regulatory and enforcement of safety and health matters for most US employees; an individual state OSHA agency may supersede the US Department of Labor OSHA regulations

A

Occupational Safety and Health Act
OSHA

27
Q

The amount that an employer must withhold from an employee’s pay for income tax purposes

A

Federal income tax withholding

28
Q

Wage and Tax Statement; a report furnished by the employer for each employee indicating gross earnings and deductions for income and FICA taxes

A

W-2 Form

29
Q

Employees’ Withholding Allowance Certificate

A

W-4 Form

30
Q
  • Person hired to perform work and who is obligated both as to the work to be done and as to the manner in which it is to be performed
  • one who is under the control and direction of an employer with regard to the performance of employment
A

Employee

31
Q

Employment terminable by employer or employee for any reason

A

Employment at will

32
Q

Employee with the same status and working with another worker

A

Fellow servant

33
Q

Theory imposing liability on employers for torts of employees

A

Respondeat superior

34
Q

Employer’s right to use employee’s invention without payment of royalty

A

Shop right

35
Q

Lie detector

A

Polygraph

36
Q

Legislation that guarantees disable people equal access to employment, as well as access to public places

A

Americans with Disabilities Act
ADA

37
Q

Federal legislation that requires employers to treat applicants and employees equally regardless of age

A

Age Discrimination in Employment Act

38
Q

The absence of employment discrimination based on race, color, religion, sex, or national origin

A

Equal Employment Opportunity Act

39
Q

Outlaws discrimination in pay based on the sex of the worker

A

Equal Pay Act

40
Q

Alteration of terms or conditions of employment by harassment and abuse based on employee’s membership in a protected class

A

Hostile work environment

41
Q

FAIR POLICY disproportionately affecting a protected class of persons

A

Disparate impact

42
Q

Group protected by anti-discrimination laws

A

Protected class

43
Q

INTENTIONAL DISCRIMINATION against a particular individual because of membership in a protected class

A

Disparate treatment

44
Q

Federal legislation that prohibits discrimination on the basis of race, color, religion, sex, or national origin

A

Civil Rights Act of 1964

45
Q

Temporary, concerted action of workers to withhold their services from an employer

A

Strike

46
Q

Outlaws discriminatory practices in pay ; requires employers to pay a minimum wage to employees and to pay a minimum of one and one0half of the regular wage rate for any hours beyond forty worked in a week

A

Fair Labor Standards Act

47
Q

Attempt by employees to stop third party from dealing with employer

A

Secondary boycott

48
Q

Agreement between an union and an employer that the employer will not use nonunion materials

A

Hot cargo agreement

49
Q

Process by which employer and union negotiate and agree on terms of employment

A

Collective bargaining

50
Q

Work setting in which all employees must be union members

A

Union shop

MORT 234 Ethics And Laws I (4 decks)

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