Final Review Flashcards
encompasses all of the legal principles governing the activities and procedures of federal, state and local governmental agencies, boards, commissions, and other similar entities
Administrative Law
replaced by an attitude of trust in the ability and integrity of government to protect the public from unethical and incompetent businesspersons
Doctrine of laissez faire
provides a statutory framework for most decision making by federal administrative agencies
The Administrative Procedure Act
contains a # of exceptions authorizing release of personal info about individuals to federal agencies
The Privacy Act
consisting of statues, case law, and administrative regulations and rulings, has as its primary purpose the promotion of competition among private sector businesses that benefits the general public (fair competition)
Antitrust Law
prohibits business agreements or arrangements that unreasonably interfere with interstate commerce and prohibits the willful acquisition or maintenance of monopoly power in a given market or the attempt to achieve such control
The Sherman Act
prohibits specific anticompetitive business practices, including unjustified price discrimination by sellers and unreasonable mergers and acquisitions, among other practices
The Clayton Act
created by Federal Trade Commission along w/ Department of Justice, administers federal antitrust law
The Federal Trade Commission Act
permissible and impermissible physician self-referral for ancillary services; prevents referrals if physician has financial relationship to that referall
Stark I & II
“let the buyer beware”
caveat emptor
advertisements that compare the relative quality of services offered among competitors
comparative competitor claims
wrongs committed against the legitimate proprietary business interests of individuals, partnerships, or corporations
Business torts
involves the wrongful communication of false info about a businessperson or entity that causes injury to the victim’s business reputation or interests
Business disparagement
forms the foundation for all commercial transactions, including purchases of goods and services (including patient care services) and employment relationships
Contract Law
the mutual agreement of parties to a bilateral contract to be bound to performance
Mutuality of assent
the inducement that causes a party to a contract to allow himself or herself to become legally bound to perform under the agreement
Consideration