Exam 2 pt 2 Flashcards
One who acts for the benefit of another, and who owes to him/her the duties of good faith, fair dealing, trust, confidence and candor.
Fiduciary
An agent acts with ___________________ authority when the agent reasonably believes that their actions are within the scope of authority given to them by the principal.
Apparent
Authority to negotiate includes ability to negotiate deferred compensation or bonus amounts.
Implied authority
The principal accepts the acts of a person who had no authority.
Ratification
__________________________ is a legal doctrine that holds people and organizations high in the chain of command (principals) liable for the negligent acts of those lower in the chain of command (agents).
Respondeat Superior
On December 28, 1905, ___________ institutions met to establish rules for football.
13
Which two universities sued the NCAA for violating antitrust law in NCAA v. Board of Regents?
Oklahoma and Georgia
O’Bannon v. NCAA is an ___________ law case, not an NIL case.
Antitrust
Which case removed the limits on education-related compensation/in-kind benefits for student athletes?
Alston
What was the play that injured so many football players, President Theodore Roosevelt called for a governing body for the sport?
Flying wedge
_________________________________ is exclusive possession, control, or ownership of a market by one party with no effective competition, such as the professional sport leagues.
Monopoly
_____________________ prohibits inherently anticompetitive conduct such as price fixing.
_______________ is applied when an anticompetitive agreement may be justified by legitimate benefits (a business necessity – NCAA antitrust exemption for a long time)
Rule of reason analysis
If a league is a ____________ _________, then its decisions do not constitute a Section 1 violation of the Sherman Antitrust Act.
Single Entity
What led to the appointment of the first MLB Commissioner?
Black sox scandal